More than 60 000 Greek companies ’emigrated’ to Bulgaria – retail association

In a just few months since the summer, more than 60 000 Greek companies have “emigrated” to Bulgaria, according to the Greek retail association ESEE.

Greek companies had applied for a tax number in Bulgaria and moved all or parts of their operations there, ESEE head Vassilis Korkidis was reported to have told Greek daily Kathimerini.

Korkidis, who runs an electrical company himself, added that a further 10 000 company bosses had moved operations to Cyprus.

The temporary closure of Greece’s banks and the introduction of capital controls have clearly exacerbated the problem, according to the business network “Endeavour Greece.” According to a poll conducted by the network in July, 13 per cent of business owners had already left Greece at that point, a further 23 per cent were looking into ways to move operations abroad, Deutsche Welle reported.

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(Photo: Jorge Vicente/