Best countries to open and do a business
Business conditions vary by country. They depend on the company registration process, tax laws, the state of the economy, and even the level of corruption.
Learn more about country ratings that help business people choose jurisdictions for registering companies.
Material prepared by Julia Loko, Investment programs expert
Frequently asked questions
Switzerland tops U.S. News’s Open for Business ranking. The country is praised for being uncorrupt, non-bureaucratic and transparent in government practices. In addition, it has a favourable tax environment.
Regarding the ease of doing business, the World Bank puts New Zealand, Singapore and Hong Kong in the top 3.
Some countries offer business people an opportunity to become residents by registering a new company or sponsoring an existing local one. Portugal, Spain, Cyprus, and the UAE are among those states. Foreigners can get second passports in Turkey by investing at least $500,000 in a business.
According to World Bank’s Doing Business and research by BusinessFinancing.co.uk, Rwanda, Venezuela and Slovenia are the cheapest countries as they don’t have any fees for starting a business. However, Slovenia sets the requirement for the authorised capital of at least €7,500.
For comparison, starting a business in the UK costs $17. In New Zealand, the leader of the Doing Business ranking, registering a company costs about $43.
The world’s most expensive country for setting up a business is the UAE, with an average startup cost of $7,445.
It depends on the region and the chosen country for doing business.
In Europe, consider reristering a Societas Europea (SE). Such a limited liability company can operate in several EU countries, transfer the head office to another jurisdiction without dissolving the company, and recruit specialists easily.
In the Caribbean, International Business Companies (IBCs) enjoy tax benefits and can be managed from abroad. Vanuatu offers similar incentives to International Companies (ICs).
In the UAE and Turkey, registering Limited Liability Companies (LLCs) in free economic zones is usually more profitable.
One must consider various parameters to determine the best country to register a company. For example, ease of doing business, tax rates for legal entities, and the economy’s competitiveness.
According to the World Bank’s ranking for 2020, it is easiest to do business in New Zealand. The top 5 include Singapore, Hong Kong, Denmark, and South Korea.
Denmark leads the rankings of economic competitiveness and the rule of law.
According to the Doing Business ranking compiled by the World Bank in 2020, it is easiest to do business in the following countries:
Sweden.
Norway.
UK.
Georgia.
USA.
South Korea.
Denmark.
Hong Kong (a special administrative region of China)
Singapore.
New Zealand.
The UAE, Turkey, Portugal, and Spain also rank high. These are the countries where you can get a residence permit or citizenship by investing in a business and other assets.
