BULGARIA Trends and Developments Contributed by: Diana Milkova and Victoria Penkova, Penkova & Partners Law Firm
or provide services to persons on the territory of the Republic of Bulgaria; or • provides remote services in a personal capacity through the use of information technologies for a period of no less than one year prior to the date of submission of the application and does not per - form work and/or provide services to persons on the territory of the Republic of Bulgaria and/or does not carry out freelance activities on the territory of the Republic of Bulgaria. In all cases the digital nomad has to prove aver - age yearly income of at least 50 times the statutory monthly minimum wage in Bulgaria (approximately EUR27,500) as per the Bulgarian legislation of work - ing salaries. The permit is issued for a term of one year In order to ensure more efficient work–life balance and to encourage and motivate their employees, employ - ers have established different measures and benefits, such as: • four-day working week or additional days off or working less hours on Fridays – these measures are not legally regulated and they are provided at the expense of the employer as paid days off; • increase of employee engagement and better allo - cation of time between personal and professional life; • recognition of the efforts and results achieved by employees by providing financial incentives; • provision of additional health insurance to employ - ees as well as family members; and can be renewed for another. Other trends and developments
• insurance of the employees at the expense of the employer in an additional voluntary pension fund; • provision of food vouchers to employees and sports cards; • provision of transport or transport expenses or parking spaces for the employees; • efficient onboarding process; • training and additional qualifications at the expense of the employer; • community days; • referral programmes; • transparent communication and feedback policy of the employer; • improvement of mental health policy; • option equity schemes, where the employer is part of an international group of companies; and • internal promotions within the company. The above specified list of measures and benefits is not exhaustive. The successful employers nowa - days understand and acknowledge that the company performance depends on the engagement, motiva - tion and focus of their employees and the alignment between individual goals and the overall corporate strategy, as well as on the understanding of each employee about how his/her efforts contribute to the company’s success. It is imperative that companies appreciate that good employees – relied upon to keep the company running effectively – will only be kept if they are satisfied with their employer. Employment is a two-way contract, and a lack of professional and/ or financial satisfaction leads to increased employee turnover.
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