5 Advantages of Starting a Business Abroad
Starting a business abroad can be a challenging matter, depending on the country in which the company will be set up, the local legislation concerning the registration of a legal entity and others. However, opening a company in a foreign country can provide numerous advantages and some of the most compelling aspects are presented below.
- Accessing the European market
As a foreign businessman who wants to enter the European consumer market, it could be best to set up a business in one of the countries which are located in the Eurozone region as this can provide a wide range of benefits in terms of taxation, custom duties, business incentives and other similar matters. In this sense, foreign businessmen can choose to start a business in Italy, which represents an attractive economy, especially in the fields of fashion, textiles, tourism and car production.
- Simple bureaucracy for businesses
One of the main concerns of any businessman refers to the level of bureaucracy and, generally speaking, in countries where the bureaucratic procedures are complex, the business environment is less developed. Countries that have simple and straightforward bureaucratic procedures are known for attracting numerous foreign companies, the Netherlands being one of the most suitable European jurisdictions regarding this issue.
- Employment regulations and the quality of the local workforce
The quality of the workforce is seen as one of the main drivers of the business environment. Businessmen across the world are seeking to start their companies in countries in which the local workforce has the necessary qualities and skills that are needed in the modern business environment. Another concern is given by the costs that are associated with hiring employees as well as the employment regulations protecting the interests of both parties; in Europe, Spain is one of the most appealing jurisdictions for starting a business.
- Start-up environment
Nowadays, one of the most attractive ways to open a business is by setting up a start-up company and countries across the world are currently creating better opportunities for the investors interested in this type of business. In Asia, one of the leading jurisdictions is represented by Malaysia. Businessmen who have set up their business activities in Malaysia through a start-up company operate in a wide range of economic fields, such as banking, finance, security, medical research, communication and others.
- The spending power and the quality of life
In order to establish a successful business, investors should focus their attention on countries that have a consumer market with a high spending power (thus, choosing the most developed economies) and where consumers enjoy a developed level regarding the quality of life.