Why invest in Intertime Continental JSC?


Peter Nikolov
Chairman
of Board of Directors



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Why invest in Intertime Continental JSC?

The company has existed for 25 years and is one of the most established brands on the market of the construction sector in Bulgaria.
It was established immediately after the transition and it has no outstanding construction commitments.
The company has a clean credit history, no delay payments or any kind of debt or duty.
The company has no outstanding construction obligations, i.e.it has no unfinished projects.
The company has built and sold out 60 residential, office and commercial buildings with an area of ​​approximately 200,000 square meters and its clients are more than 2000 owners of apartments, shops and offices.
Most of the owners of land in Sofia where over 90% of land is private, trust the construction projects of their land tokeeping apart of the construction.
Most of the buyers have confidence to put their money in advance for the construction of new projects, without fearing they can lose.
Banks do not worry to lend customers of the company.
Banks are willing to lend the company.
The management of the company has extensive experience in the industry and has walked through some mistakes on the path of growth.
The company has a well tested and working management system.
Corporate culture and values help owners to ensure employee loyalty.
The trademark helps in negotiation of new projects and promotesthe product well.
We have contacts at all levels related to the process of research, design, sales, construction and delivery of buildings withAcceptance committees on the territory of Sofia.
The company has built a contractual system and working rules.
The company has a good and verified team of suppliers, architects and lawyers.

Why invest in Bulgaria

Important geostrategic location
• Sofia is located in the center of the Balkans 120 000 millionth market on the way of 5 cross-border European transport corridors.
• 300,000 Russian citizens have already purchased property in Bulgaria.

A stable political environment:
• NATO member
• EU member
Macroeconomic and financial stability:
• real GDP growth - 6.0% (2008)
• inflation, annual change - 7.8% (2008)
• unemployment rate - 6.3% (2008)
• no currency risk, fixed exchange rate of BGN to EUR
• budget surplus for the previous five years (3.0% in 2008)
• investment credit rating from major rating agencies
The most favorable taxes in the EU:
• 10% corporate tax; 0% in regions with high unemployment
• 10% personal income tax
• 2-year VAT exemption on equipment imports for investment projects over € 5 million which creates at least 50 jobs
• 2 years of amortization of computers and new production facilities
• deductibility of costs for research and development activity
• 5% withholding tax on dividends and liquidation quotas (0% for EU companies)

Strategic geographical position as a bridge between Europe and Asia
Labor:
• Highly qualified, multilingual workforce
• The most competitive levels of wages in Europe
• 45,000 Bulgarian students in Europe
The lowest operating costs in Europe
Relatively low cost of land and real estate
Free capital movement
Ability to pay up to 1 year of minimum working wage and social and health insurance for appointment of young people and disadvantaged people through the Employment Agency
Government financial support for priority investment projects
Excellent climate, scenery, cuisine and hospitality
Incentives under the law to encourage investment
1. ReceivingBulgarian citizenship on purchase of property to over € 300,000.
2. Recent entry into Schengen and obtaining working visas for all of Europe for the citizens of Bulgaria.
3. Information services and shortened administrative deadlines
4. Individual administrative services
5. Ability to purchase, without tender , ownership rights and limited ownership rights on real estate – private, state or municipal property
6. Financial assistance for vocational training of persons for the purposes of the investment project
7. Financial support for building elements of the adjoining infrastructure to the limits of the investment project
8. Support of priority investment projects implemented in one or more of the following requirements:
• size of the investment should be at least three times greater than the minimum certification class
• create jobs in disadvantaged areas or in high-tech activities
• provide for the construction of industrial zones and technology parks