Best Countries to Start a Business: A Dedicated Guide for Entrepreneurs

What makes a country business-friendly?

When thinking about the best countries to start a business in, it is important to access a range of indicators and evaluate them against your professional and personal goals. You can begin by looking into some reports such as the World Bank’s Business Ready, or Forbes' Best Countries for Business. However, it is important to keep in mind the majority of those indexes are very black and white and may lack important indicators such as the ease of relocation, which facilitates the process of operating your business in person. 

For this reason, we compiled our own list, based on a mix of factors that will allow you to choose the best country for business opportunities based on your distinct goals. We took into account things like ease of doing business, taxation and incentives, economic and political stability, infrastructure and connectivity, location, English proficiency, and relocation opportunities so you can access different angles to make an informed decision.

Best Countries for Entrepreneurs Wanting to Start a New Business 

Portugal: A Growing Tech Hub 

Portugal has emerged as a thriving tech hub in the past few years which is a strong indicator by itself. Home to the Web Summit and important incubators and acceleration programs, the country has been attracting not only many startups, but also a great number of skilled professionals and entrepreneurs who have been eager to invest in Portugal and take part in the unique combination of growing opportunities and enhanced lifestyle the nation offers. 

The country is strategically located at the crossroads of Europe, Africa, the Americas, and the Middle East, and it is also the 6th most English-proficient country in the world, making it a convenient spot for companies with international clients and partners. The Portuguese regulatory framework is the second best for entrepreneurs, according to the Business Ready Index, which places the country as the 4th on public services.

Also, Portugal is known as a welcoming place for expats. The country even has a business-driven visa, that allows entrepreneurs to obtain residency in the country when opening or branching out a business in its territory. The D2 Visa is a powerful alternative to the Golden Visa, offering one of the easiest pathways to EU residency by investment.

Malta: for Incentives and Reduced Bureaucracy

Another well-located country that will put entrepreneurs close enough to different strategic markets is Malta. The Mediterranean Island also offers an innovative and interesting tax regime that can reduce the corporate tax from the average of 35% to something as low as 5% and a growing economy, ranking 10th in the European Union in terms of GDP per capita, standing above the EU average. 

Malta has strong financial, tech, tourism, and manufacturing industries and many incentives toward foreign investment such as reduced bureaucracy, and a Startup Residence Programme, which allows expats to start a business in the country, along with a three-year residence permit that can be extended for an additional 5 years. The country also has the Malta Permanent Residence Program, which is one of the most popular residency by investment options worldwide.

Cyprus: Low Taxes and EU Access 

With beneficial double-taxation treaties with over 60 countries, including the U.K., the U.S., and Canada, Cyprus can be one of the best choices for entrepreneurs looking to start a business. Especially for those from the shipping, financial, and tourism sectors, some of the strongest on the island.

With one of the lowest corporate tax rates in the EU, Cyprus also has a streamlined business registration process and a great bilingual and skilled workforce. The Cyprus Golden Visa is yet another straightforward way of relocating along with your business, with the plus of commercial Real Estate being an eligible route toward the residency permit, something you may not find in other countries.

Singapore: Asia’s Favorite for Business

In case you are interested in opening a company in Asia, Singapore is one of the best countries to start a business in the region. It ranks 1st in the operational efficiency pillar of the Business Ready Index, and 2nd in the public services indicator. It also has a great modern infrastructure, and it is constantly in the top positions of many lists regarding business-friendly environments.

The country has streamlined regulations, low bureaucracy, and a corporate tax rate of 17%. The nation’s location, in the southeast of Asia, can be very strategic and there is a highly skilled, multilingual workforce that is good for any business.

Entrepreneurs can apply for the Global Investor Programme in order to achieve permanent resident status, although it is necessary to have a successful entrepreneurial background to qualify.

The UAE: Great Opportunities with Minimal Taxes 

It is no secret that the United Arab Emirates is an innovation hub, filled with business opportunities and skilled professionals. However, the reason why the country stands out to many entrepreneurs as the best country to open a business is because of its incredible tax regime. In UAE’s free zone, corporate taxes can be zero, just as it happens with capital gains, personal income, and others, throughout all the emirates.

Places like Dubai and Abu Dhabi are known for their incredibly futuristic infrastructure, large English-speaking expat community and great global connectivity. The UAE Golden Visa allows entrepreneurs to relocate by investing in real estate getting a residency permit valid from 2 to 10 years, renewable.

Qatar: Economic Diversification and Great Infrastructure

Also in the Middle East, Qatar stands out as one of the best places to start a business for its high-quality infrastructure and friendly tax regime as, other than imposing no personal tax, the corporate tax is quite low, standing at 10%. The Qatari government is also known for supporting foreign investors and for having a commitment to economic diversification, which can be very attractive for entrepreneurs. 

As for relocation, the country offers a real estate-based Golden Visa Program – officially named the Qatar Investor Visa program – as well as a residency permit in exchange for an investment in a business formation or relocation. That policy strengthens this Middle Eastern country as a top destination for entrepreneurs.

The Caribbean Islands: Where Business Meets Passports

Islands such as Antigua and Barbuda, St. Lucia, Dominica, Grenada and St. Kitts and Nevis are considered to be tax havens, as they are countries with no income tax and with low corporate taxes in general. 

Also, those nations have enticing Citizenship by Investment programs, which allow entrepreneurs not only to relocate to their territory but also to obtain a second passport, which can be a valuable asset for business.

The United States: For Going Big

The U.S. brings endless possibilities to table, being one of the largest markets in the world, with a great economy and an immense customer base. It also has a strong entrepreneurial culture, that is fostered by the government through many initiatives. With all that, it is no wonder why this is the home to the most famous tech hub in the globe: Silicon Valley. 

The registration process of a company in the United States is fast and entrepreneurs can apply for the EB5 Immigrant Investor program, which has a pathway dedicated to individual seeking to start a business in the country or branching out existing foreign companies.

New Zealand: Stability and Incentives

This South Pacific Island has a very efficient business registration process and offers a good environment for entrepreneurs, standing in good positions from 2 out of the 3 pillars of the Business Ready Index. Although the corporate tax is not exactly low, there are some incentives for some sectors, such as research and tech. 

The country is also known for its stability and has English as its official language. New Zealand boasts an Entrepreneur Work Visa, which is not such a straightforward path as a regular Residency by Investment program, but it is a valid possibility.

How to Take the First Step to Start a New Business Abroad

After reading our list of best countries to start a business, we can say that the very first step to your new overseas venture is officially taken. After all, researching the best places for entrepreneurial opportunities is the right way to kick-start your project. However, the amount of information you may find can be quite overwhelming. Also, it does not take into account some nuances of your particular situation, which can create some unwanted blind spots. 

The best way to go about this is by counting on specialized advice, from experts who will know how to curate opportunities tailored to your professional goals and personal preferences. Relocating to pursue a new business path also brings major life changes and choosing the country that will offer the best prospects with the most optimal quality of life might just be the true key to success.

You can count on Investment Visa to help make a smart choice from all angles. Through our broad scope of services and global knowledge, you can rest assured that you are investing in a brighter future. Talk to us and let us start planning your next big success history.

FAQ

How long does it take to set up a business abroad? 
Each country has its own timeline. Places like New Zealand and Singapore are known for their fast business setup, although the relocation process might take longer.

What are the countries with the lowest corporate tax rates? 
Turkmenistan has an 8% corporate tax rate, while Barbados and Hungary have a 9% rate, among others. Although the UAE levies a standard 9% rate from companies, some incentives can drop that number down to zero.

Is it possible to open a business abroad? 
Yes. Many nations allow foreigners to open and operate a business in their territory. Some, such as Portugal even have a business-driven residency program, which grants residency to entrepreneurs who invest in the country by starting a new venture there.

Are there any relocation programs for entrepreneurs? 
Yes, some countries have visa programs aimed at individuals who open and operate a business in their territory such as Portugal and New Zealand.

What is the difference between a Residency or Citizenship program and an Entrepreneurial Visa Program? 
While investment programs will grant residency and citizenship through investment in different areas such as real estate and funds, entrepreneurial visa programs will require the set-up and maintenance of a business in the country. The latter can ask for additional requirements such as an entrepreneurial background and a business plan.

What are the best countries to fund a startup in? 
There are many startup hubs in the world, with Portugal presenting a great mix between the tech landscape perspective and the lifestyle it offers entrepreneurs and employees.