In the changing world of today, business companies face risks that they did not face before. Some places on the planet grow increasingly unstable and a number of business owners start thinking about relocating their companies to safer countries.
Registering a company in a foreign country is quite possible and besides, many jurisdictions allow re-domiciling your company there. If you start a foreign company, you can protect yourself from possible risks at home and you can find new business opportunities abroad too. Below we discuss 10 countries where you could register a business company. It is important to note that all the jurisdictions listed below allow registering companies remotely.
Singapore
A couple of years ago, Singapore ranked 1st for the ease of doing business. The country has been among the top ten countries by this parameter for years and years. Today, Singapore is a highly attractive jurisdiction especially for those entrepreneurs who have business interests in Asia.
The process of company registration is simple in Singapore and the banking system is superb in the country. Singapore has about 200 banks with the total amount of assets exceeding 2.5 trillion dollars. Singaporean-based companies are well trusted all over the world and setting up a company there would certainly decrease your business risks.
Switzerland
Switzerland has been among the best jurisdictions for doing business for a very long time. It is one of the wealthiest countries in Europe and in the entire world.
Switzerland has a stable and transparent legal system, which makes it especially attractive for international entrepreneurs. The country is not a member of the European Union but it is within the Schengen zone anyway. In addition, Switzerland is a member of the European free trade association so companies registered there have full access to the European markets.
Besides, Swiss-registered companies also have access to an advanced business infrastructure, Swiss banks that are famous around the world, and multiple fundraising opportunities.
Switzerland has signed the Hague Convention of 1961 so foreign documents do not have to be legalized as an apostille will suffice.
Admittedly, certain bureaucratic barriers can be an issue in Switzerland because each canton has its own regulations. However, its superb banking sector and a well-developed national economy makes Switzerland a country to consider if you would like to register a foreign company.
United Arab Emirates.
When choosing the jurisdiction to register a business company, you should certainly consider the UAE, among other options. It is a highly secure and a rapidly developing jurisdiction. There you can register a company in one of the Free Economic Zones that offer serious tax advantages to their residents. You can find over 50 such Zones in the UAE and each of them specializes in servicing certain business industries. As all possible industries are covered, you could certainly find a Free Zone in the UAE that suits your business interests.
Besides, you could register an offshore company in the UAE. It would be an ‘offshore company’ in the sense that it would not be able to enter any business agreements with companies registered in the mainland UAE. However, an offshore company in the UAE is free to do business with any foreign country and no taxes are going to be payable in the UAE.
The United Arab Emirates is the only country on our list that does not automatically exchange its residents’ fiscal information with their home countries’ tax authorities. The UAE banks guarantee full confidentiality of the account holders’ information.
United States of America
The USA ranks higher for the ease of doing business that most European states do. The country offers a highly favorable business climate and registering a company there is simple.
Moreover, you could register a company and open a bank account in the USA even if you don’t have a visa to the country. The company statutory documents cannot be sent outside the USA but you can hire an intermediary to collect the documents from the Registrar. Please bear in mind, however, that American states have different corporate legislations and some states offer more beneficial conditions to foreign entrepreneurs than others do.
Cyprus
South Cyprus offers numerous tax benefits and other sorts of advantages to foreign nationals registering companies there. Cyprus is an EU member state and a low-tax jurisdiction at the same time, which is a rare combination. The country is not an offshore zone, however, it is not found on any black lists and neither is it subject to any sanctions.
A non-resident of Cyprus can gain access to a wide spectrum of banking services in the country. A company can be registered there in the name of a natural person or a legal entity.
Estonia
Estonia has been a member of the European Union since 2003 and it is also a signer to the Schengen agreement. Unlike other Baltic states, Estonia has a stable set of corporate laws and it adheres to the highest European standards of doing business. The country offers especially favorable conditions to startups and small businesses. Large companies, however, also feel very comfortable doing business in Estonia.
Without any doubt, you should consider the jurisdiction if you are engaged in the IT sphere, digital technologies, or electronic commerce. Estonia would also be a great choice if you are busy with industrial developments.
Armenia
The Armenian Republic is a rapidly developing country. In 2019, it has the fastest economic growth in Europe: the country’s GDP grew by 8.2%.
Fast economic growth requires foreign investments. Fully realizing this fact, the Armenian authorities have put considerable tax incentives into place.
Armenian banks are friendly towards international companies registered in low-tax jurisdictions. This characteristic is rarely to be found in Europe. Besides, many banks in Armenia will take high-risk clients onboard.
Great Britain
Taxes are lower in Great Britain in comparison to Western European countries and this is one of the most important advantages that the UK offers. Besides, Government agencies provide full support to business companies.
Please note that corporate legislations in England, Scotland, Wales, and Northern Ireland are dissimilar. You should choose the jurisdiction depending on the types of business activities that your company carries out (or is going to carry out).
Montenegro
Montenegro is an attractive jurisdiction for registering a company. The local laws give equal rights to domestic and foreign businesspeople. A non-resident registering a company in Montenegro can qualify for legal residence in the country.
The Government of Montenegro supports foreign business owners in any way it can. The country has a developing economy and foreign investments are highly appreciated.
Hungary
Hungary is a Central European country that has a well-developed banking system, stable legislation, and European business standards. These facts allow attracting sizable foreign investments to Hungary. The country has been a member of the EU since 2004. The profit tax of 9% in Hungary is the lowest profit tax in the Union.
The Government of Hungary tries very hard to keep the tax rates low. It has been successful in this endeavor, which has led to the development of a stable banking system. Hungarian banks successfully cooperate with the largest financial institutions of the world.
Registering a company in Hungary would make especially good sense if your business operations are connected with Central or Eastern European countries. As is the case with all other countries on our list, remote company registration and bank account opening are possible in Hungary.
Without doubt, there are other jurisdictions that you could consider if registering a foreign company is on your mind. We simply recommend that you should consider the 10 countries listed above as possible options.
