4 countries you should consider starting a business in
What makes a country a good location to start a business in? To open a new company or expand an existing one into another country means knowing the right company registration procedures, the applicable taxes and the various requirements for a certain business field.
Each jurisdiction is different and investors should look for a location that offers a suitable blend of geographical, tax and management advantages. Here are 4 countries you should consider starting a business in.
Opening a business in Europe
Investors who choose to base their business in Europe benefit from a developed infrastructure, large market and harmonized legal systems based on the EU laws. This allows for a facile cooperation and easy access to neighboring countries once they choose to base their business in a certain EU country.
Ireland is one of the top choices for doing business in Europe because of its attractive tax regime that includes a number of R&D incentives for Irish companies and a low, 12.5 percent corporate tax rate. The country has well-developed telecommunications, transport and energy infrastructures and offers high living standards for those who choose to relocate here and for foreign employees who choose to work for an Irish-based company. Starting a business in Ireland is a simple process and businesses here can easily expand to the European market.
Estonia offers the advantage of being closely located to two large markets: Russia and central Europe. This geographical advantage can be of importance for entrepreneurs, alongside the competitive costs and taxes imposed by the country. The country has a simple tax regime and labor costs are, on average, lower than those in other Western European countries. Starting a company in Estonia implies a straightforward company formation process and the subsequent management and compliance procedures are easily handled by foreign investors who can, if needed, also run their business remotely.
Choosing Asia to start your company
The Asian market presents important business opportunities and there are several locations among the economic community in this region that offer modern and advanced business conditions.
As part of the Association of Southeast Asian Nations (ASEAN), Thailand is a country with a fast-growing economy and offers various opportunities for foreign investments. While it is true that some business sectors are more highly regulated and it is required for foreigners to partner with a Thai resident, the country offers an indisputably excellent location for trading businesses and also for tourism. Requesting specialized assistance for opening a company in Thailand is recommended for foreigners.
Hong Kong is a financial and business hub where company registration, incorporation and management are facilitated not only by the advantageous business and taxation policies but also by the fact that English is an official language. The dynamic city offers an excellent location to international businesses in Asia and to those which, for various manufacturing or logistics purposes, need to be located near Mainland China. Foreign investments are welcomed and 100% full foreign company ownership in Hong Kong is permitted. Investors also benefit from a very attractive low-tax regime.
Choosing the jurisdiction of the company is a strategic decision and one that can significantly influence your business. We recommend exploring these four business options and others depending on your budget, business field and type of company you wish to incorporate.
