The world is your oyster! Check out our tips on where it’s worth to invest and establish your business.
Would you like to establish business activity outside your country? Are you wondering where and when it’s worth to do it? This article will provide you with information on where in the world it’s worth to invest and establish business activity.
Thanks to the Internet, as well as increasingly cheaper travel possibilities around the globe, the world seems to be shrinking. The borders are no longer barriers for us that we can’t cross, while the knowledge of foreign languages opens up opportunities that until recently we could only dream of. Europe, Asia and even South America with open arms accept young entrepreneurs, who have heads full of ideas and may contribute to the development of their local economy.
Do tax havens really exist?
You surely stumbled across the term “tax haven” in well-known Hollywood productions, where clever entrepreneurs invest their money to gain a substantial fortune. However, it turns out that the countries in which there is no obligation to pay taxes and running your own business activity is pure pleasure are no longer just a dream, but a sweet reality. Since recently, small enterprises located in China are exempt from paying taxes. Although right now this arrangements apply only to local entrepreneurs, in the coming years the authorities of this country intend to extend the above-mentioned exemption to foreign investors as well. Another country that turns out to be kind to the businessmen is the United Arab Emirates. In this country, the entrepreneurs have no obligation to keep records of transactions or even accounting. Moreover, these companies are not required to conduct audit.
Countries where it’s worth to invest and establish business activity
Firstly: Great Britain. In the capital of Shakespeare, the entire procedure for setting up your own business activity will take you up to 13 days. Moreover, the interest rate on income tax of the entrepreneurs depends on the company’s current revenue.
Secondly: Czech Republic. In this case, the basic VAT rate amounts to 21%, while the PIT rate amounts to 15%. Establishment of the limited liability company takes the foreigners approximately 2-4 weeks, while the costs associated with this process are estimated at about 350 EUR.
Thirdly: Cyprus. It’s called a tax haven by many people. In this country, the basic VAT rate amounts to only 15%. The registration of business activity within this country in carried out in an efficient and quick manner.
Fourthly: Singapore. According to the latest findings, Singapore is the second country in the world (Hong Kong is the first) in terms of economic freedom. The CIT rate in this country amounts to 17%. The VAT amounts to only 7% and 0% for exported goods.
Among attractive countries, in which it’s worth to invest and establish business activity, we should also list Belarus, Ireland, Malta, Estonia and Latvia.