What is the best country for starting business?

Discussion in 'Starting a Business' started by Austin Sparrow, Oct 11, 2018.

  1. Austin Sparrow

    Austin Sparrow
    uix_expand uix_collapse
    New Member

    Joined:
    Sep 22, 2018
    Messages:
    24
    Likes Received:
    3
    Hi. I am planning to open a business abroad. What is the best country to start the business with less headache for opening bank account etc? Thank you! Any advice is appreciated.
     
    • Like Like x 1
    • Agree Agree x 1
  2. fisicx

    fisicx
    uix_expand uix_collapse
    Active Member
    Community Liaison 1.0

    Joined:
    Mar 3, 2016
    Messages:
    1,191
    Likes Received:
    110
    Your question doesn't make any sense. The best country to start a business is the same country where your business will operate.
     
    • Like Like x 1
  3. VITS USA

    VITS USA
    uix_expand uix_collapse
    Member

    Joined:
    Aug 20, 2018
    Messages:
    234
    Likes Received:
    15
    Sweden and German both are good place for business as well as job.
     
  4. Stephen Chong

    Stephen Chong
    uix_expand uix_collapse
    Member

    Joined:
    Aug 8, 2018
    Messages:
    51
    Likes Received:
    5
    Well, the best country is where you are living. Any investment abroad will be quite Cumbersome and has lot of procedures. so the better thing you can do is to invest in your country where you are living and make your country proud.
     
    • Agree Agree x 1
  5. Austin Sparrow

    Austin Sparrow
    uix_expand uix_collapse
    New Member

    Joined:
    Sep 22, 2018
    Messages:
    24
    Likes Received:
    3
    Well, I am good in my country. I want to expand. So looking for suitable country
     
    • Agree Agree x 1
  6. fisicx

    fisicx
    uix_expand uix_collapse
    Active Member
    Community Liaison 1.0

    Joined:
    Mar 3, 2016
    Messages:
    1,191
    Likes Received:
    110
    So stay where you are and expand from there. If you want to open a bank in another country you need to be living in that country.
     
    • Like Like x 1
  7. Diana.kasim

    Diana.kasim
    uix_expand uix_collapse
    New Member

    Joined:
    Sep 20, 2018
    Messages:
    24
    Likes Received:
    6
    I am not sure what country is a best option for you, but you can open bank account online and use it for your business internationally, the one I use is Finclusion. but check others, as well
     
    • Agree Agree x 1
  8. Austin Sparrow

    Austin Sparrow
    uix_expand uix_collapse
    New Member

    Joined:
    Sep 22, 2018
    Messages:
    24
    Likes Received:
    3
    Not necessary. You always can work remotely. Do not tell me that I have to live in that country. There are plenty examples of it! Thanks!
     
    • Agree Agree x 1
  9. Austin Sparrow

    Austin Sparrow
    uix_expand uix_collapse
    New Member

    Joined:
    Sep 22, 2018
    Messages:
    24
    Likes Received:
    3
    Ok, thank you! I will take a look.
     
  10. Richar lee

    Richar lee
    uix_expand uix_collapse
    Member

    Joined:
    Feb 15, 2018
    Messages:
    30
    Likes Received:
    2
    Your question doesn't make any sense. All over the country best for business
     
    • Agree Agree x 1
  11. Justin evans

    Justin evans
    uix_expand uix_collapse
    New Member

    Joined:
    Nov 8, 2018
    Messages:
    1
    Likes Received:
    1
    Now a days startup ideas that revolve around users problem are the most popular ones.

    take Uber for example they had a simple idea but since it solved people’s problem it became famous. Also you don’t necessarily have to launch a global business start small try to come up with solution that will help the local and then you can make it big if you want

    for ideas i have to say now launching a business is easier then ever there are so many options now you can start a salon and allow people to book your services from apps, you can also start a logistics business or taxi service etc
     
    • Like Like x 1
    • Agree Agree x 1
    #11 Justin evans, Nov 8, 2018
    Last edited by a moderator: Nov 8, 2018
  12. melviniii

    melviniii
    uix_expand uix_collapse
    New Member

    Joined:
    Nov 23, 2018
    Messages:
    2
    Likes Received:
    0
    I get this question quite often from prospective clients. There are some countries where banking is notoriously difficult with the new AML regulations, so that certain industries can not obtain a bank account in most countries (gaming, crypto, adult sector). Sometimes also for Iranian residents can prove difficult to obtain a bank account.

    There is a new wave of internet banks coming out which tend to defy the standard banks which accept less and less type of businesses.

    In the Netherlands there is a bank ''Bunq'' facilitating most types of business with minimal AML hassle, you can open it from your smart phone (hold up your passport) and within 15 minutes you have an account. They provide bank accounts for Dutch, German, Austrian (And maybe UK companies I believe).

    In Germany you have a bank called ''N26'', which is comparable, but can only be used privately for EU residents or for one man businesses.

    In Switzerland the easiest bank I know for remote openings is Cimbanque (remote identification, minimum 15k deposit). And in Latvia BlueOrange Bank (before Baltikums) offers some remote identification procedures.

    It is not as easy in these countries to start a company as for example in the UK, that you have within an hour and $100 a company. But the UK as far as I know is not so easy in terms of acquiring banking currently. Not to mention the Brexit.

    Bulgaria might be a good option if you are an internet-based business and looking for overal low taxation.
     
  13. Bahtiyar

    Bahtiyar
    uix_expand uix_collapse
    New Member

    Joined:
    Nov 24, 2018
    Messages:
    5
    Likes Received:
    1
    Look for more democratic countries. More democracy means more law and order. Thus, while making business in democratic countries, you will be sure that your business will be safe.
    Secondly, look for some rich countries with low taxes for businesses. I think Dubai and Singapore are ideal to start a business.
     
    • Agree Agree x 1
  14. Jacob Hawkins

    Jacob Hawkins
    uix_expand uix_collapse
    Member

    Joined:
    Mar 16, 2018
    Messages:
    45
    Likes Received:
    6
    If you are planning to start a new business, then it’s important that you do it in strict compliance with Federal & State laws. If you’re over excited and launch your business without following the proper procedure or completing the legal requirements, your lapse may land you in trouble. Whether you plan to launch an S Corporation or LLC, the right way is to lay your business plans & learn about the legal requirements you need to comply. If you’re not familiar with the Federal or state laws, then hire a professional agency and file your EIN, Tax ID, and other applications online through them.
     
    • Agree Agree x 1
  15. Vaniti patel

    Vaniti patel
    uix_expand uix_collapse
    New Member

    Joined:
    Dec 19, 2018
    Messages:
    10
    Likes Received:
    0
    India is the best place to start your business.
     
  16. fisicx

    fisicx
    uix_expand uix_collapse
    Active Member
    Community Liaison 1.0

    Joined:
    Mar 3, 2016
    Messages:
    1,191
    Likes Received:
    110
    Why?

    If I wanted to be a plumber in Brazil why would I want to start a business in India?
     
    • Agree Agree x 1
  17. DavidDiamond

    DavidDiamond
    uix_expand uix_collapse
    New Member

    Joined:
    Jan 11, 2019
    Messages:
    5
    Likes Received:
    0
    Question is what are the list of countries that you would even consider.
     
  18. Faizan Shaikh

    Faizan Shaikh
    uix_expand uix_collapse
    New Member

    Joined:
    Dec 18, 2018
    Messages:
    10
    Likes Received:
    0
    DUBAI is a good country to startup a new business there ae a lot of tourist people there and everyone spends money there .
     
  19. fisicx

    fisicx
    uix_expand uix_collapse
    Active Member
    Community Liaison 1.0

    Joined:
    Mar 3, 2016
    Messages:
    1,191
    Likes Received:
    110
  20. Deepak Dubey

    Deepak Dubey
    uix_expand uix_collapse
    New Member

    Joined:
    Dec 17, 2018
    Messages:
    18
    Likes Received:
    0
    You can start your business in India. It will be great option. There are lot of policies recently launched in India that promotes ease of doing business. And in India you can always expect high returns with low investments.
     

Share This Page