Company Profile

History:

May 2004 – Trade activities start with Arnica company – a shop for rent and sale of movies covering one of the Sofia districts. Arnica company has two employees including the owner, Mr Georgi Hristov.
September 2004 – Wholesale trade with computer accessories is launched.
2005 – Two other video shops are opened. An office for accounting and legal services is founded in purpose to serve the needs of Arnica company. Later on the Accounting and Legal Office starts providing services to outside clients. In 2009 it has more than 70 clients outside the group.
August 2005 – Retail trade with sex items starts.
2006 – The Company begins import of toweling products and opens its firts store for toweling articles.
2007 – Import of food additives is launched, and in 2008 a procedure for import of medicines is started.
2007 – The copmany purchases a platform for Internet commerce (e-trade know-how)
2007 – Georgi Hristov establishes a Foundation with social useful activities and priorities in the field of popular sport, support and development of yough up to 28 years old and ecological projects.
2008 – Investments in a courier company under franchise for the needs of the Group.
September 2008 – A centre for children’s entertainment and a confectionery are opened in Sofia.
2009 – The Company begins import and wholesale of sex items for the territory of the whole country
March 2009 – Starts production of sleeping sets /bed linen/
September 2009 – The Company starts and develops digital agency Onboxmedia.
June 2010 – Start manufacture and import of food supplements and cosmetics.
July 2010 – Official representative of Cophasil in Bulgaria.

Mission:

Development and innovations of the companies in the Group.
Exclusive representation and distribution of foreign trade marks and services
Acquisitions or participation in perspective companies with growth potential

General Economic Information about Bulgaria

SOME USEFUL FACTS FOR INVESTORS:

Minimum wage for 2009: 240 BGN per month. Average wage in Bulgaria for 2008: 532 BGN per month. Highest salaries were in the field of financial services and brokerage (1241 BGN monthly). Salaries below the average in 2008 gained people working in the following economic sectors: Hotels and restaurants (390 BGN monthly), Trade and repair serivices of automobiles, personal goods and household appliances (388 BGN per month), Agriculture, forestry, hunting and fish farming (384 BGN per month).
Average wage per hour in Bulgaria – 2,5 Euro
Flat rate tax of 10 % for personal incomes since 2008
Burden on labour for the employer in 2009 for gross wages less than 2000 BGN – 30,3%
Profit tax of 10%
Value Added Tax of 20%
Since 1997 there is a currency board established in Bulgaria against Euro. Currency rate: 1 Euro = 1.95583 BGN
Minimal requirements for entered capital:
- Entered capital to register a Ltd – minimum 2 BGN
- Entered capital to register a JSC – minimum 50 000 BGN
Average monthly expenditures for accounting services – 250 BGN

MAIN ECONOMIC DATA:

Some macroeconomic facts for the first quarter of 2009:
- GDP decrease of 3,5 %
- Services, value added (% of GDP) 65,3%
- Industry, value added (% of GDP): 30.3%
- Agriculture, value added (% of GDP) - 4,4%
- Negative foreign trade balance of -15,3%
4,7% economic growth and 5,4% inflation expected for 2009
For 2008, GDP of Bulgaria reaches 66 728 000 BGN, which means in real terms 6% growth compared to 2007. GDP per capita is calculated to 8 712 BGN.
Direct Foreign Investments for 2008 amount to 32 636,3 mln Euro. The biggest amount of foreign investments for 2008 is directed to operations with real estates, rental activities and business services (7451,2 mln Euro)
Base interest rate 2,27 (1 May 2009). The base interest rate dropped since the beginning of 2009. Average annual interest rate on investment projects 7,5 – 8.0 %
Market capitalization of listed companies (% GDP) – 121.3

OTHER FACTS:

Index of information technologies – Bulgaria is ranked 68th in the list of 127 countries according to the World Economic Forum chart
Mobile cellular subscriptions (per 100 people) – 61 (2007)
Internet users (per 100 people) – 42 (2007)
Roads, paved (% of total roads) – 40 (2007)
Bulgaria has five official international airports — at Sofia, Burgas, Varna, Plovdiv and Gorna Oryahovitsa.

Sources: BNB, Institute for Marcet Economics, World Bank Group Report, Law of Commerce, Law for the Corporate Income, Law on the Personal Income Tax

Portfolio

Shops for Entertainment and Free Time
www.video.arnicagroup.com

Sex Shop SEXSALE
www.sexsale.bg

Office for Accounting and Legal Services
www.arnica.bg

Wholesale trade of computer accessories and multimedia
www.media.arnicagroup.com

Wholesale and retaile trade with towelling articles
www.arnicagroup.com

Foundation Arnica
www.foundation.arnica.bg

Import and wholesale of medicines
www.bulgaria-pharma.bg

Digital Agency Onboxmedia
www.onboxmedia.com

Production of sleeping sets
www.arnikasleepingsets.eu

Manufacture, import and wholesale of cosmetics
www.rigano.bg

Official representative for Bulgaria of Cophasil
www.cophasil.bg

Contact us

GH group LTD
Sofia 1582, Bulgaria
Druzhba 2, block 226 - ground floor
Tel.: + 359 2491 8875
Fax: +359 2979 1078
Mob.: +359 898 595 136
e-mail: office@gh-group.eu