“Opportunities don't happen. You create them” - Chris Grosser
Some people think that their birthplace determines a walk of life. But there are other rules in the Business world: the more you expand your boundaries, the more opportunities appear. Perhaps, today you are standing before a choice of a new country to take your business. This is good. This means that you want to achieve more and aren't afraid. To choose the place that suits your needs, you should know if the country in question is “open” for international business.
There are certain indicators that will help you with your choice. These are:
International ranking for starting a business (measures the extent the country is “open” for business);
International ranking for doing business (measures the difficulty for starting a new business in this country);
Number of procedures needed to start a business;
Time (in days) it takes to start a new business;
Cost is recorded as a percentage of the economy’s income per capita (it includes all official fees and fees for legal or professional services if such services are required by law);
The amount that the entrepreneur needs to deposit in a bank or with a notary before company registration. Up to 3 months following incorporation and is recorded as a percentage of the economy’s income per capita.
We analyzed the Top 5 Countries for Doing Business and have constructed a list which we hope will serve as food for thought. These are: Cyprus, Luxembourg, Netherlands, Ireland and Hungary.
Cyprus
Region - Europe;
Population 900.000;
GDT per Capita, PPP $25,249;
GDP $ 21,91 billion.[1]
Brief overview
Cyprus is one of the largest Mediterranean Islands. It is a beautiful place with a mild climate, friendly atmosphere and high standard of living. If you've been to Cyprus, then you know why some people fall in love with the island forever. Many people are eager to live and do business in (or out of) Cyprus because it is extremely open for international business. Local population is bilingual in Greek and English. Many Cypriots have graduated from British and American Universities, so the level of education in the country is very high[2]. Cyprus is an ideal country for financial, investment and shipping companies due to significant tax benefits.
Luxembourg
Region - Europe;
Population 556,074;
GDT per Capita, PPP $92,049;
GDP $60,1 billion.[1]
Brief overview
Luxembourg (The Grand Duchy of Luxembourg) is one of the smallest countries in the world, but at the same time - the second wealthiest after Qatar. As the wealthiest country of the European Union, per capita, local citizens have a very high standard of leaving. Moreover, about 45 percent of population were born outside of Luxembourg primarily in Italy, Belgium, Portugal, France and Germany. Luxembourg is well known as a great financial center for private banking. The main trading and financial partners are France, Germany and Belgium.
If you are planning to set up a financial company, Luxembourg is a great alternative to other countries.
Netherlands
Region - Europe;
Population 16,854,183;
GDT per Capita, PPP $47,355;
GDP $854 billion.[1]
Brief overview
The country is known officially as the Netherlands, but it is frequently called Holland. It is the only/one of the very few country/ies that lies below sea level. The climate can best be described as pleasant with cool summers and relatively mild winters. There are not a lot of natural recourses, but natural gas. A lot of tourists visit Netherlands every year throughout the year. The Netherlands has a reputation for having stable industrial relations. The inflation is moderate and the income distribution is fair. There is a high education level of the population and the Netherlands is the most multilingual country in the world! It is widely “open” for international business. There are two well-known major banks: ING and ABN AMRO. The largest service industries are trade, financial services (banking and insurance), logistics, telecommunications and construction.
In other words, Netherlands is the perfect choice for a financial, commercial or logistics company.
Ireland
Region - Europe;
Population 4,612,719;
GDT per Capita, PPP $49,195;
GDP $232 billion [1]
Brief overview
Ireland is the third-largest island in Europe, and the twentieth-largest on Earth. Despite its small size, Ireland is a very advanced country. It has a great cultural trace in English literature, most famous authors are: Oscar Wilde, Samuel Beckett and James Joyce. The country is famous for folklore traditions (famous Irish dances). Ireland is a republic with a parliamentary democracy. The official languages are English and Irish (Gaelic). The country does not a big trade-dependent economy. It is very “open” for foreign businesses due to its tax privileges. The economy of Ireland is not developing as fast as prior to 2008. Today, it is not difficult to incorporate a company. Ireland is a member of European Union, United Nations and other well-known organizations.
It is important to note that foreign multinationals are dominant in the export sector. Ireland can be a very attractive country for your business due to the location and tax privileges.
Hungary
Region - Europe;
Population 9,861,673;
GDT per Capita, PPP $24,942;
GDP $133 billion [1]
Brief overview
Hungary is a central European country with linguistically individuality. Hungarians are kind and helpful people, in business they express wishes directly and openly. Hungary rightly claims to be the Nobel capital of the world, though many of its winners worked overseas in Germany or U.S.. Hungary is a member of NATO, the European Union, and United Nations. The automotive sector is one of the main sectors in the country and it generates 21% of total exports. The electronics industry is huge and it's about 22% of total Hungarian manufacturing production.
Finally, if you plan to set up a new company in Europe - Hungary is a country worthy of attention.
Comparative analysis [3]
Conclusion:
As we see from the comparative analysis, all the countries have various advantages. Netherlands, Hungary and Ireland are very open for international businesses and continue to improve their formations procedures. In Cyprus and Ireland you can register a company in 1 week. There are only 4 procedures in Hungary, Ireland and Netherlands in order to start a new business. All these countries are a very good choice in order to register a financial or an investment company.
Royal Pine & Associates is your gateway to Best countries for your business
It is very important to know all the peculiarities of each country and have the relevant information on issues of company incorporation, accounting and other matters. Our company has many years of experience and partnership with all these countries. We know the easiest way to set up your business.
Focus services:
Office facilities;
Escrow services;
Residency and citizenship;
Insolvency Services.
Corporate services:
Setup and incorporation services;
Management and Domiciliation;
Banking;
Trust services;
Specialized services.
Financial Services:
Accounting and book-keeping;
Fund administration;
Tax advice;
Audit assistance (working with independent auditors);
Tax and VAT compliance;
Payroll Services.
Legal and Consultancy:
Investment firms;
Intellectual property;
Joint ventures;
Partnership agreements;
Transaction review;
Cross border mergers;
Share purchase agreements, Shareholders agreements.
With Royal Pine & Associates your business is in the right hands.
References
The author of article is Anfisa Chernaya.
Anfisa is creative, innovative and insightful Business Development Manager, with a vast experience in planning and executing marketing strategy. Anfisa is a flexible team player who prospers in a fast-paced work environment.
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