If you are considering starting a new business, one of the first things you should probably reconsider is the location where your business will start its life. Sure, cozy headquarters in the Big Apple would be preferable on the first glance, but think twice. Choice of the location can make or break any business. With the whole range of countries providing you with significant benefits, from minimum costs to government subventions, you should really try to think globally. Here we will give you a short list of some out of the box choices, as well as the usual suspects.
This might seem odd, but this eastern European country is on the rise. Making a 22 places jump from the 91th place on the overall ease of doing business list in just one year, Belarus is largely considered as country with upper-middle income. Starting up a business in Belarus gives you the access to Russia, Belarus and Kazakhstan, three countries of CES (Common Economic Space) with over 170 million consumers. Workers are very qualified and 90% of population has higher, secondary and basic education.
We are talking about the monster here and knowing how to set up a company in Singapore should be a basic knowledge in the business world. Considered a highly developed free-market economy Singapore enjoys almost corruption-free environment and per capita GDP which is higher than many other developed countries. With one of the most efficient tax regimes in the world (there are no capital gains and dividend taxes) and cutting edge business community Singapore is one of the places you should take into consideration.
This special administrative region of the PRC gets the best of both worlds: financial input from the communist big brother which saved Hong Kong from the devastating consequences of the global economic crisis that started in 2008 and the open, free-market economy. Hong Kong is actively making regulation reforms that help in fostering start-ups. Corporate tax rate is reduced to 0 for the transactions outside the country and you can write of number of expenses your company. Besides, Hong Kongs economy is built upon the foundations of safe and secure banking for businesses.
Over the past 20 years we witnessed New Zealands remarkable transformation from mostly agrarian economy to industrial, free-market player that can successfully compete on global market. With the business-friendly taxation system, time to incorporate business being just one day and the labor costs that are extremely competitive, concerning that we are talking about the developed first-world country, ignoring New Zealand would be a big mistake.
Going back to Europe, we should mention this modern market economy member of the European Union. Featuring highly motivated and educated talent pool, easy plug n play registration for the foreign companies, no social contribution costs for employees, new company form called the ISV (Iværksætterselskab) invented especially for startups, quick and below EU average rental and corporate taxes, this Scandinavian country should be on your radar.
We will add into the mix some honorable mentions who made significant steps in encouraging new businesses and those are Sri Lanka, Uzbekistan, Serbia, Costa Rica and Kazakhstan. The choice is yours and you have the whole world on the disposal.