Smart City to be Built in Bulgaria with Chinese Investments

The concept of smart city proves successful in many developed countries worldwide, and Bulgaria, an East European state, is also included in plans for future investments for the years to come. Saint Sofia Project was announced in 2014, when the project of making a smart city near Elin Pelin in Bulgaria was settled by a Chinese-owned company in the country.  In matters of company registration and related documents, our specialists in company formation in Bulgaria can provide entrepreneurs with complete support.

 

 

Bulgaria is open to foreign direct investments especially in the main industries and areas of interests. The Bulgarian government has decided for several incentives and measures to implement the first smart city in the country. As this part is done on the Bulgarian behalf, it will remain only one thing left to do - to attract and put into action the investments of Chinese businessmen. The smart city is set to rise near Elin Pelin which is a city found at 24 km away from Sofia, the capital of Bulgaria.

 

The residential area will comprise hotels, offices, shopping malls and green spaces and will sum up about BGN 1,60 billion (approximately EUR 750 million). We remind that foreign owners with businesses in Bulgaria can rely on the skilled workforce in the country. Additional details about how to register your company in Bulgaria, you may address to our Bulgarian company incorporation representatives.

 

 

The smart city project for Bulgaria, which is named Saint Sofia, was presented at the beginning of this year in Beijing, China, as an important high-tech innovation plan for an East-European country. This significant development is part of the Belt and Road Initiative which intends to expand the international Chinese influence and investments not only in Asia but also in Europe, North Africa, Oceania and South-East of Asia. Saint Sofia Project has an important investor which is a communication company with a subsidiary in Bulgaria.

 

If you plan to expand your portfolio and set up a business in Bulgaria, we invite you to get in touch with our team of company formation representatives in Bulgaria.