From Standart News

(Sofia, April 8) – Offshore companies registered in the Cayman Islands and British Virgin Islands have transferred to Bulgaria 1.528 billion levs or (783,9 million euro), shows the data of the Bulgarian National Bank (BNB).

The bigger part of this sum come from the British Virgin Island – 721,5 million euro under the shape of direct foreign investments. This sum makes 2,07% from all foreign direct investments made in Bulgaria after the democratic changes in 1989. The foreign investments coming from offshore companies registered on the Cayman Islands total to 62.4 million euro.

At the same time, companies registered in Bulgaria invest money to the Cayman Islands – 4.6 million euro and to the British Virgin Islands – 9.2 million euro.

As a whole, it seems that offshore financial centers worldwide love investing in Bulgaria. As the Standart already wrote, 13% or (4.6 billion euro) from all foreign direct investments to Bulgaria which amount to 36,7 billion euro end-2011, have come namely from offshore companies.

The opposite trend is even more impressive. Some 28% or (397,5 million euro) from all Bulgaria’s investments abroad which total to 1,415 billion euro, end-2012 are made of companies registered in Bulgaria and investing to offshore zones.

One very interesting question remains unanswered. How come the third poorest country in the world – Liberia, has managed to invest 12,8 million euro in Bulgaria? Most probably the answer is hidden in the fact that Liberia also has a status of an offshore center.

For more on this story go to:

http://paper.standartnews.com/en/article.php?d=2013-04-08&article=42382