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Best Countries to Start Business

When it comes to starting a business, every person prefers a country that has the mildest regulations. The abundance of regulations is something everyone wants to avoid. Because of that entrepreneurs would like to establish new firms in the states, where everything is provided. In the following article, we will be talking about countries, where it is the easiest to start a business.

Singapore

It will take only a day to open a business in Singapore. The application can be submitted online in the morning, and the next day it will be confirmed. It costs $680 to register your company. However, the state periodically changes tariffs.

Entrepreneurs from all over the world are attracted by Singapore’s taxation system: corporate income tax up to 300 thousand Singapore dollars (about $ 222 thousand) per year is 9%, over 300 thousand – 17%.

The Singapore court system allows you to resolve a commercial dispute within 150 days. This period is the shortest among all countries in the world.

New Zealand

In this country, you can open your company online in a few hours. Also, one of the advantages of doing business in New Zealand is the absence of taxes on wages, social security or capital gains.

For foreigners who want to open a company in this country, there is a special entrepreneurial work visa – The Entrepreneur Work Visa. Also, to obtain a visa, you must provide a business plan.

However, things might become complicated when it comes to gambling. As you know the laws are obscure in this field and if you would like to open a legal casino in NZ you might encounter some problems as well as additional taxes. So make sure you pay attention to the country’s legislation.

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Hong Kong, China

China is a developed economy. Hong Kong is a powerful business center with a high level of international trade. Therefore, Hong Kong’s borders are open to duty-free imports. Businessmen are attracted by a stable banking system and the absence of corruption. Tax on profits received directly in Hong Kong is 16.5%, otherwise, it is not charged.

You can open a company in Hong Kong remotely and in just a few days. The registration fee is about $200. All that is needed for this is a copy of the passport, confirmation of the address of residence and information about the future company: its name, structure, etc.

Entrepreneurs can apply for a special visa – Hong Kong Entrepreneurs Visa. To do this, you need to describe your business project. To obtain a visa, it is necessary to confirm the solvency (start-up capital, business plan, education and experience in the field of entrepreneurship).

Denmark

Registering a business in Denmark is easy, fast and inexpensive. Everything is done online in one day, and the price is about $100.

The country’s political stability, constant tourist flow and convenient location attract foreign entrepreneurs. The authorities are ready to issue loans not only to their citizens, but also to foreigners. There are many business support programs in the country.

South Korea

South Korea has a developed economy and a high-income level. This country is constantly progressing, so it is open to entrepreneurs. By the way, the government actually supports startups: annually the state allocates more than $10 billion for the development of new projects.

You can open your business in South Korea in less than a week, but the entrepreneur will also have to pay registration (2% of the established capital) and education tax (20% of the registration amount).

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USA

Doing business in the United States is considered inexpensive (low cost of logistics, production and office rental prices). But the United States lags behind some developed countries in terms of the attractiveness of the business environment for foreigners due to high competition, as well as high tax rates (they are set by the government and state authorities).

It is possible to register a company in the USA in a few weeks. The cost depends on the chosen state.

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