Where are the best world countries for expat start-ups?

Where are the best world countries for expat start-ups?

Where are the best world countries for expat start-ups?

Expats planning a start-up overseas need to known exactly what's required when deciding on a location.

Starting a business overseas as an expat can be the best idea for many reasons, such as the availability of specific talents at an affordable rate, needing to be close to a target market, taking advantage of certain benefits available to start-ups or easy access to capital investors. Another important issue to be considered is the ease or otherwise of obtaining the necessary visas and work permits for the principals as well as for expat employees.

Nowadays, many start-ups are one-man shows, reliant on specific expertise such as is necessary in the tech sector. Other start-ups may be looking to provide much-needed services in the automotive or retail sectors. For these entrepreneurs, choosing a country which makes the legalities easy and straightforward is essential in order to keep down costs and set-up times. At this point, needed resources include a start-up visa programme in the chosen country and access to incubators and accelerators as well as local chambers of commerce and other business networks.

Now considered essential for new business development are institutional and private investors happy to contribute to taking businesses to the next level as well as acting as mentors where necessary. It’s also important to find out whether the chosen country requires an investment stake provided by a native citizen before a foreign-owned business can operate. Other necessities may include a five or more-year economic forecast, enough savings to see the business through its early stages, and paying a slightly higher tax rate during a defined time period.

For expat entrepreneurs wondering about the best place for their start-up, Canada, New Zealand and Denmark tick the majority of the boxes, with the first two having the advantage of English as their official language. All three are as politically and economically stable as is possible in these troubled times, their banks are trustworthy and their laws are similar to those in the home country. For tech start-ups, Denmark is considered a favourite due to its reputation as Europe’s most digital state. All three are start-up friendly and rank highly in the World Bank’s ‘best countries for business’ lists.

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