Best country to set up business in europe

best country to set up business in europe

Businesses in Europe benefit from established legal frameworks, advanced financial systems and developed infrastructure. Moreover, many countries, especially in Northern Europe, have relatively higher income compared to other regions. Consequently, people generally have more disposable income and thus are more willing to spend for your products and services If you are interested in setting up your company in a European country, or if you are still wondering which countries would best suit your business needs, do not hesitate to email us at email@healyconsultants[at]com or call us at +65 6735 0120 to talk to our experts. Facebook0. LinkedIn0.

best country to set up business in europe

To set up a business in Europe, choose the right country, the right entity and the right liaison. European countries have huge consumer bases – even the poorest European countries tend to be wealthier than countries in other continents.

If you’re looking to expand your business internationally, Europe’s consumers could make it worth any potential difficulty.

While starting a business in Europe can be tricky, with the right knowledge and expertise, you can successfully incorporate your business and operate it in one of Europe’s 48 countries. | • • • • What kind of entity makes sense? Generally, Europe does not impose any specific requirements on foreigners wishing to establish a business presence in the country.

Foreign investors looking to do business in Europe have three common entities to choose from: corporation subsidies, representative offices and branch offices Corporation subsidies Forming your business into a corporation so you can expand into Europe makes sense for larger, well-established companies.

You’ll find a lot of variations in European law when it comes to corporations, so make sure to look into the specifics of the country you want to expand into. Representative office Representative offices in Europe can be ideal for spreading the word about your company. But a representative office can’t carry out any sort of business transaction on behalf of its parent company. Branch office Setting up a European branch office is relatively inexpensive – plus, you can still make money (unlike a representative office) while maintaining branch independence.

Your branch can be registered in whatever company it operates in but must follow the local laws of its parent company.

Should I hire a professional? Hiring an expert to help guide you when establishing your business in a new country is an excellent idea. If English isn’t the country’s primary language, consider hiring a native speaker. A liaison can interact with officials on your behalf, tell you the appropriate places to register your business entity and advise you on any important local customs.

The Chamber of Commerce and US Commercial Service are solid places to search for a qualified contact. What kind of documentation will I need? To start a business in Europe, you will generally need to produce: • Certificates of incorporation • Bank reference letters • Passport copies • Resume and photos • Description of the scope of your business • Description of the purpose of your business and reason for expanding • Business license • Lease contracts of country address The exact documentation you need may change based on the country you’ve chosen and the official you speak to.

Consult your foreign liaison, and consider working with a company that helps foreign entrepreneurs create businesses in Europe. Where do I file my information?

You’ll submit your business documentation to the Chamber of Commerce in the specific country you’re interested in. It’s a good idea to follow up after filing to ensure that your paperwork is in the right place and given proper attention. Other factors to consider Every European country specifies different requirements for you and your business to meet before incorporating. Confirm the stipulations specific to the European country you want to expand your business into.

• Stating your business purpose. You’ll need to draft and execute a public deed of incorporation that documents your business’s bylaws and includes your company name and address.

• Corporate name requirements. Many European countries won’t allow two companies with the same name to operate simultaneously. Pick a name that represents your company, and register it as quickly as you can. You may also need special permissions to use certain words. For example, in Italy you need approval to use words like Italy and international in your business name. • Permits and licenses. You’ll need specific permits and licences from the federal, provincial or municipal governments, depending on your location, as well as the industry sector and specific activities that you plan to conduct.

• Available resources. Certain European countries require that you provide proof that you have enough money to fund your business. • Hiring locals. It’s not required by every European government, but some countries require that your business create jobs for locals. For example, the UK requires that your business create two new full-time jobs for UK residents or citizens.

• Registering with the governing business organization. Some European countries expect foreign business owners to register with the governing business organization — like a Chamber of Commerce — to incorporate their business. | International billing and payments Your new business will require you to , which means you’ll make transactions between currencies and across borders.

You can safely and affordably manage your business payments — with lower fees and stronger exchange rates — by . Use a money transfer service to manage your international business payments Companies like and can help you set up regular transfers to your vendors overseas. • • Minimum transfer amount 0.00 Transfer methods Online, Phone, Bank Account to Bank Account Transfer options One off payments, Market orders, Forward contracts Customer service Phone, Email Available currencies AED, AUD, BGN, BHD, BWP, CAD, CHF, CZK, DKK, EUR, FJD, GBP, HKD, HRK, HUF, ILS, JMD, JOD, JPY, KES, KWD, LSL, MUR, MXN, NOK, NZD, OMR, PHP, PLN, QAR, RON, RSD, SAR, SEK, SZL, THB, TND, TRY, USD, ZAR Minimum transfer amount 1.00 Transfer methods Online Transfer options Regular payments, One off payments Customer service Phone, Chat, Email Available currencies AED, AUD, BDT, BGN, BRL, CAD, CHF, CLP, CNY, COP, CZK, DKK, EUR, GBP, GEL, HKD, HRK, HUF, IDR, INR, JPY, KRW, LKR, MAD, MXN, MYR, NOK, NZD, PHP, PKR, PLN, RON, RUB, SEK, SGD, THB, TRY, UAH, USD, VND, ZAR Minimum transfer amount 2,000.00 Transfer methods Online, Phone, Bank Account to Bank Account Transfer options Regular payments, One off payments, Market orders, Forward contracts Customer service Phone, Chat, Branch Available currencies AED, ANG, ARS, AUD, BBD, BGN, BHD, BMD, BRL, BSD, BWP, BZD, CAD, CHF, CLP, CNY, COP, CRC, CZK, DKK, EGP, EUR, FJD, GBP, HKD, HRK, HUF, IDR, ILS, INR, ISK, JMD, JOD, JPY, KES, KRW, KWD, KYD, LBP, LKR, MAD, MUR, MXN, MYR, NGN, NOK, NZD, OMR, PHP, PKR, PLN, QAR, RON, RSD, RUB, SAR, SCR, SEK, SGD, THB, TND, TRY, TTD, UGX, USD, VEF, VND, ZAR Minimum transfer amount 250.00 Transfer methods Online, Phone, Bank Account to Bank Account Transfer options Regular payments, One off payments, Market orders, Forward contracts Customer service Phone, Email Available currencies AED, AUD, CAD, CHF, CZK, DKK, EUR, HKD, HRK, HUF, ILS, INR, JPY, MAD, NOK, NZD, OMR, PLN, SEK, SGD, THB, TRY, USD, ZAR Minimum transfer amount GBP 0.00 Transfer methods Online, Bank Account to Bank Account, Cash Transfer, International Money Order Transfer options Regular payments, One off payments, Market orders, Forward contracts Customer service Phone, Chat, Email Available currencies AED, AUD, CAD, CHF, CZK, DKK, EUR, GBP, HKD, HUF, ILS, JPY, MXN, NOK, NZD, PLN, RON, SEK, SGD, THB, TRY, USD, ZAR Minimum transfer amount USD 10,000.00 Transfer methods Phone, Bank Account to Bank Account Transfer options Regular payments, One off payments, Market orders, Forward contracts Customer service Phone, Email Available currencies AED, AUD, BGN, CAD, CHF, CZK, DKK, EUR, GBP, HKD, HRK, HUF, ILS, INR, JPY, KWD, MAD, MXN, NOK, NZD, OMR, PLN, QAR, SAR, SEK, SGD, THB, TRY, USD, ZAR Minimum transfer amount USD 0.00 Transfer methods Online, Phone, Bank Account to Bank Account Transfer options One off payments, Market orders, Forward contracts Customer service Phone, Email Available currencies AED, AUD, BGN, BHD, BWP, CAD, CHF, CZK, DKK, EUR, FJD, GBP, HKD, HRK, HUF, ILS, JMD, JOD, JPY, KES, KWD, LSL, MUR, MXN, NOK, NZD, OMR, PHP, PLN, QAR, RON, RSD, SAR, SEK, SZL, THB, TND, TRY, USD, ZAR Minimum transfer amount USD 1,000.00 Transfer methods Online, Phone, Bank Account to Bank Account Transfer options Regular payments, One off payments, Market orders, Forward contracts Customer service Phone, Chat, Email Available currencies AED, ALL, ANG, ARS, AUD, BBD, BGN, BHD, BMD, BRL, BSD, BWP, BZD, CAD, CHF, CLP, CNY, COP, CRC, CZK, DKK, EGP, EUR, FJD, GBP, HKD, HRK, HUF, IDR, ILS, ISK, JMD, JOD, JPY, KES, KRW, KWD, KYD, LBP, LKR, MAD, MUR, MXN, MYR, NGN, NOK, NZD, OMR, PHP, PKR, PLN, QAR, RON, RSD, RUB, SAR, SCR, SEK, SGD, THB, TND, TRY, TTD, UGX, USD, VEF, VND, ZAR Minimum transfer amount USD 1.00 Transfer methods Online Transfer options Regular payments, One off payments Customer service Phone, Chat, Email Available currencies AED, AUD, BDT, BGN, BRL, CAD, CHF, CLP, CNY, COP, CZK, DKK, EUR, GBP, GEL, HKD, HRK, HUF, IDR, ILS, INR, JPY, KES, KRW, LKR, MAD, MXN, MYR, NGN, NOK, NZD, PEN, PHP, PKR, PLN, RON, RUB, SEK, SGD, THB, TRY, UAH, USD, VND, ZAR Minimum transfer amount USD 1.00 Transfer methods Online, Bank Account to Bank Account, Cash Transfer Transfer options One off payments Customer service Phone, Email Available currencies AED, ALL, AUD, BDT, BGN, BRL, CAD, CHF, CLP, CNY, CZK, DKK, EUR, GBP, GEL, HKD, HRK, HUF, IDR, ILS, INR, JPY, KES, LKR, LRD, MAD, MXN, NGN, NOK, NZD, PEN, PHP, PKR, PLN, RON, RUB, SCR, SEK, SGD, THB, TRY, UAH, USD, VND, XCD, ZAR Minimum transfer amount GBP 0.00 Transfer methods Online, Bank Account to Bank Account, Cash Transfer, International Money Order Transfer options Regular payments, One off payments, Market orders, Forward contracts Customer service Phone, Chat Available currencies AED, AUD, CAD, CHF, CZK, DKK, EUR, GBP, HKD, HUF, ILS, JPY, MXN, NOK, NZD, PLN, RON, SEK, SGD, THB, TRY, USD, ZAR Minimum transfer amount 10,000.00 Transfer methods Phone, Bank Account to Bank Account Transfer options Regular payments, One off payments, Market orders, Forward contracts Customer service Phone, Email Available currencies AED, AUD, CAD, CHF, CZK, DKK, EUR, GBP, HKD, HUF, INR, JPY, MXN, NOK, NZD, PLN, SEK, SGD, THB, USD, ZAR Compare Bottom line Choose the right business entity to operate in the specific European country you’re interested in.

Consider working with an organization that specializes in helping foreign businesses incorporate in the country — this will streamline your progress and help you avoid pitfalls along the way.

Frequently asked questions about European businesses • Yes, there are many different types of business entities in Europe. Depending on your business, may want to consider entities like foundations, charities or trusts, not to mention corporations like LLCs, stock corporations and more. Note that you may be subject to a government audit of your business’s books prior to approval.

• Many experts recommend avoiding joint ventures, because your partner can understand Italian customs better than you do. This can be a good thing, but it often exacerbates conflict if partners disagree on business strategy. If you’re the foreign investor in the JV, you may find yourself effectively powerless. Consult an expert before coming to a decision. You are about to post a question on finder.com: • Do not enter personal information (eg.

surname, phone number, bank details) as your question will be made public • finder.com is a financial comparison and information service, not a bank or product provider • We cannot provide you with personal advice or recommendations • Your answer might already be waiting – check previous questions below to see if yours has already been asked I accept Ask your question Finder.com provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our and . Questions and responses on finder.com are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate. We endeavor to ensure that the information on this site is current and accurate but you should confirm any information with the product or service provider and read the information they can provide.

If you are unsure you should get independent advice before you apply for any product or commit to any plan. finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions.

While we are independent, we may receive compensation from our partners for featured placement of their products or services.

We may also receive compensation if you click on certain links posted on our site. finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which finder.com receives compensation.

We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site.

While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us.

finder.com compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.


best country to set up business in europe

best country to set up business in europe - The Best European Countries To Start A Business


best country to set up business in europe

Shares 36 This article is written by William L. – a small business owner and entrepreneur who writes about startups, technology, and smart money management. If you think that starting a business in your home country is difficult, multiply that by several times to get a grasp on just how hard it is to open a business abroad.

Of course, just because something’s difficult, it doesn’t mean you shouldn’t pursue it – you simply need to be fully cognizant of the challenges that you will face. Before you traipse into a foreign country and start filling out business paperwork, be sure to follow these tips: 1. Research Business Practices Business laws and practices, banking, and taxation all vary from country to country. While you can set up a business in New Zealand in a single day, it could take weeks or even months in other countries.

Before you make a move and get started, study the laws and requirements for the country you’re interested in, and investigate how much it will cost to incorporate, acquire property, and start working. 2. Study Cultural Differences Fitness may be big business in the United States, but it’s unlikely to have the same draw in certain Middle Eastern countries. You need to understand cultural differences that could affect your business’s viability.

Research the culture surrounding the product or service you’ll be selling to ensure that there’s a market and a need for it.

But that’s not the only cultural difference to study – from language barriers to varied social interaction, an expat is likely to experience difficulty fitting into a foreign business community.

Consider taking a few short trips abroad to get your bearings and start interacting with the local community. 3. Understand the Country’s Political Climate It’s very important that you understand the political climate of the country you’re entering, as well as its history regarding taxation and asset seizure.

For instance, in 2013, as the European Union was bailing out banks in Cyprus, the Cyprus government went directly into bankers’ accounts, removing up to 10% of the funds deposited within and calling it a “tax.” As a business owner in a foreign country, you don’t want to be in a position where your profits are unexpectedly “taxed” or your assets are seized because the political climate is undergoing change.

Watch carefully, and do your best to work within a country with a stable political and economic system. 4. Seek Legal Advice It’s always a when starting a business, and this is especially true when starting a business abroad. Locate an expat lawyer from your country who is living and working in the country to which you hope to move. This way you’ll know that the lawyer understands you culturally, but has the knowledge and skills to help you navigate the foreign environment.

5. Seek Local Guidance Just like you might get involved with the Chamber of Commerce or Small Business Association in the U.S., you should seek to get involved with other business owners in the country where you plan to open your business.

Start this process before moving so you have a few trusted friends whom you can go to with questions as you get your business underway. 6. Give Yourself Time Even if you’re excited about moving abroad and getting your business started, remember that all good things take time.

Don’t rush the process. Give yourself time to research, seek trusted counsel, and navigate the ins and outs of moving abroad. Remember that you also have to apply for and receive the appropriate visas, so don’t expect things to come together overnight. Some countries are better for start ups than others. If you’re looking to speed the process, consider top four countries for business startups: Singapore, Canada, Australia, and New Zealand.

Where do you want to start a business abroad? What are you most nervous about? , ,


best country to set up business in europe

Why should you start your business in Europe? Europe is one of the . In 2014, the European Union contributed to 23.8% of the world’s GDP and is a major trading power. From an economic standpoint, it makes a lot of sense to start a business in Europe or expand an existing business into the region, to get a share of this profitable European market. Businesses in Europe benefit from established legal frameworks, advanced financial systems and developed infrastructure. Moreover, many countries, especially in Northern Europe, have relatively higher income compared to other regions.

Consequently, people generally have more disposable income and thus are more willing to spend for your products and services. In addition, as 28 countries have entered the European Union, business in one European country also enjoys various benefits from other EU member states.

In the Doing Business Report 2016 by World Bank, there are 13 European countries amongst the top 20 easiest countries to do business. Choosing the best location in Europe for your business The most decisive factor in determining the location for your business is understand where your potential customers and suppliers are.

If a majority of your customers and suppliers are located in Spain, it would be most logical to . Finding the right corporate structure Similar to any other countries in the world, the most common way to start a business in any country in Europe is to form a private limited company (Limited Liability Company a.k.a LLC), also known as a SARL in French speaking countries or GmbH in German speaking countries.

Although shares are not freely transferred in an LLC, shareholders are sheltered and only liable for the amount of capital they contributed in the company. Compared to a public company, an LLC is faster and cheaper to set up, and also has less compliance requirements. If you already have an existing business and wish to expand into other European countries, you can set up a subsidiary company (branch of a foreign company).

Provided that you are a EU citizen and the parent company is in a EU country, you are free to set up a branch in any EU-member state. Registering your company in Europe The company registration processes in European countries are largely similar and fairly straightforward.

Company incorporation typically takes 1 – 2 weeks. Incorporation of your company in Italy, Denmark, Netherlands, Poland and Portugal only takes 1-2 days, depending on business sectors. Most countries also have a centralized one-stop shop authority that handles all administrative procedures. For example, Denmark has the Danish Business Authority, and France has the Centres de formalités des entreprises (CFE).

However, if you are not familiar with the process, company registration is still a very time consuming task. Every Government expects businesses to submit application in a specific format. If the application form is not submitted properly, the relevant authority will contact and request you additional documents, which will delay the process. This delay will spoil your plans especially if you are located overseas.

Therefore, it is more desirable to contact local law firms or international business consultants to register the company on your behalf, so you can allocate more time on business development. An experienced consultancy firm should be able to incorporate a company via a Power of Attorney without its clients need to travel, saving much time, energy and money. Opening a corporate bank account for your business There are various .

European banks in Switzerland, Germany and Austria are amongst the most secured and advanced, with long history in the financial industry. If you have special relationship with banks, corporate bank accounts can be opened without incorporating a local company. This is a great way to diversify political and economic risks. Moreover, in this modern age of business, it is not unusual to have an international business with clients and suppliers located in multiple continents.

For example, you can have a consultancy business in Hong Kong that deal with Norway clients. Therefore, setting up an offshore account could facilitate payments, minimize exchange rate risk and reduce transaction costs.

The Single Euro Payment Area (SEPA) is a directive to simplify bank transfer within European countries. Transactions within SEPA incur very minimal charges or even at no cost at all. Taxation and legalisation in Europe A factor to be taken into consideration is tax implications. Many countries in Europe such as Bulgaria, Hungary, Cyprus and in the region of 10% to 15%. Low tax rate is extremely crucial for new companies as cash flows at initial stage of incorporation are generally not stable and consistent.

Many countries in Europe including UK, Germany, Belgium and Denmark do not require an LLC to have a resident director, so you are able to manage your company from abroad. Conclusion Nevertheless, opening a company in Europe will be the best choice if you are a foreigner and your business in targeted towards the spending consumer power of Europe and the Middle East. Ireland, Bulgaria, Switzerland, Lithuania, Luxembourg, Romania are some of our recommended countries to start your business in Europe.

Contact us If you are interested in setting up your company in a European country, or if you are still wondering which countries would best suit your business needs, do not hesitate to email us at email@healyconsultants[at]com or call us at +65 6735 0120 to talk to our experts.


Best Countries For Study Abroad
Best country to set up business in europe Rating: 8,4/10 438 reviews
Categories: best