Registration of your startup in developed countries is a great opportunity to gain access to the international financial market. If you have an original idea and a plan of its implementation and you doubt the choice of jurisdiction for opening a startup, then read my article where we will consider several countries with the most favorable environment for creating a startup in Europe.
What is a startup?
A startup is a project based on an innovative idea that can attract the attention of potential investors, with the aim of its further promotion and development.
What should you pay attention to when choosing a country for your startup?
- The type of customer you will target (a product that is highly successful in one country may fail in another due to cultural norms)
- The structure of your company (this determines the type of taxes that you will focus on
- Where will your counterparties be located (it is much easier to interact with them if you are in the same jurisdiction or legal field)
- Availability of private and venture capital funds that are ready to provide investment support
- Political and economic stability
- Banks willing to cooperate with the founders of startups
- Availability of business accelerators and incubators offering professional training and assistance in attracting potential investors
- Protection of intellectual property rights when creating a startup
So, the most favorable countries for starting a startup in Europe
1) Portugal
Starting a startup in Portugal is attractive for the following reasons:
- Positive attitude towards non-resident innovators
- Ample opportunities for the implementation of their ideas (availability of a modern technological base)
- Profitable options for project financing
2) Ireland
Ireland is the second largest exporter of IT services in the world. The country’s high quality of life, combined with a thriving IT sector, is attracting investors from all over the world. The main advantages of jurisdiction are:
- State support for innovative projects
- Lower costs of maintaining a business in comparison with other European countries (for example, Great Britain)
- Low corporate tax rates and tax incentives for research and development
- World leaders such as Intel, HP, IBM, Microsoft and Apple, Google, Facebook, LinkedIn, Amazon, PayPal, eBay and Twitter are based in Ireland.
3) Switzerland
The Swiss city of Zug is one of those special business zones created specifically for the effective launch of innovative projects. It is here that many entrepreneurs who are interested in working with cryptocurrency and blockchain strive to start their own business.
- Qualified labor resources
- Developed legal framework
- Easy ways to raise capital
4) UK
Starting a UK startup is attractive for the following reasons
- Developed infrastructure
- Favorable geographic location
- A large number of venture funds, large investors
- Availability of qualified personnel
- Government support – highly competitive corporate tax rates and a range of initiatives to further support innovative businesses.
5) Malta
Starting a startup in Malta can also be a promising option. The most popular is the registration of a Maltese company in the field of gaming.
- Ease of doing business
- Support from the state
- Favorable tax rates for IT companies (income tax is 35%)
- Opportunity to enter the EU market
Thus, expanding business in another country will help open up new markets and provide an opportunity to develop products for a specific consumer. To launch a startup project, you will need good preparation, a well-designed business plan, as well as the support of experienced professionals. If you wanna learn more or know more you can contact my team or you can jump into a one-on-one call with me right now clicking one of the the below buttons.
He uses to dedicate part of his life to inspire others and help them achieve the most out of their lives. Since he was 20, he had successfully founded and managed several companies operating in the field of management consulting, wealth management and fintech. He is Member of Institute of Directors in London, Member of Changer Club in Riga, Member of Fintech Association of Hong Kong, Member of Singapore Fintech Association, Member of Non Executive Director Association in London and Member of Alumni Network of Draper University in San Francisco. He loves travelling, he is a cigars lover, an amateur golfer and a dapper man.
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