We are living in an interconnected world. Thanks to the internet and the ease by which we travel, it has never been simpler to see the world around us. As a result, more and more business professionals are seeking to extend their reach into new territories. While doing business around the world has become much simpler, there are still hurdles that you’ll need to jump through in order to find prolonged success. Today, we are going to be discussing a few of the simplest places in the world to do business. We’ll be using the World Bank as our reference for economic competitiveness and ease of business ranking.
1) New Zealand – Leading the charge for relative ease of doing business is New Zealand. While nominally known for being a tourist destination, New Zealand has ranked at the top of the World Bank’s list for three years in a row. New Zealand has a wide and varied selection of industries that are all relatively free of red tape. The government of New Zealand has made it a focus of theirs to streamline compliance with their tax department when it comes to getting businesses to start working in the country. New Zealand is focused on turning all of their business red tape into a digital format which will make it significantly more advanced than the rest of the world. New Zealand is currently leading the world when it comes to least amount of procedures needed in order to start a business.
2) The United Arab Emirates – The UAE has always been at the top of the list when it comes to doing business. Known primarily for the bustling city of Dubai, the United Arab Emirates is actually comprised of multiple Emirates that offer promising business prospects. Ras Al Khaima, for example, is turning into a popular destination for business leaders from all over the world. Thanks to the work being done at the Sheikh Saud bin Saqr al Qassimi Foundation, RAK is starting to become a player in the world of economic, social, and cultural development. Ras Al Khaimah has a booming tourism industry as well as fishing and agricultural prospects. Of course, many professionals from all over the worlds will visit in order to headquarter their work out of RAK.
3) Hong Kong – Due to their relationship with China, Hong Kong is a gateway into an even larger market. Hong Kong acts as a financial center for much of Asia, presenting business professionals with opportunities at almost every level. Hong Kong is particularly fond of foreign companies and the government does everything possible in order to make access as easy, simple, and affordable as possible. Hong Kong has access to first-class infrastructure, a solid economy, an international market, and tax-friendly legislation. Hong Kong has been trending up over the past decade as more and more Western companies make their way to the region in order to perform operations. For professionals that want opportunity and access to an international market, Hong Kong provides a viable solution.
4) Denmark – Denmark is considered one of the top countries on the planet for doing business. According to the World Bank report, Denmark offers foreigners almost unparalleled access to lower corporate tax rates as well as a specialized tax system for expats. Despite this, Denmark still does have the occasional hurdle that you will need to leap over. Denmark can be a prohibitive market to enter into at the beginning due to the cost of permits and utility connections. Once you make it past your initial economic hurdles, you’ll find Denmark to be an inviting place to work out of.
5) United Kingdom – Finally, we have the United Kingdom to round out our rankings list. Despite the ongoing problems pertaining to Brexit, the United Kingdom is still one of the friendliest places in the world to start a business. The United Kingdom serves as a hub to many different markets, including Europe, and the diversity of operations there provide access to pretty much every industry. There is something to be said for the uncertainty that the market is currently experiencing as a result of Brexit, but still, opportunity exists whenever uncertainty has the potential to thrive.
Working in the international market can be a tough prospect. After all, you’ll be leaving your country of origin in order to work. Still, there are multiple places to consider starting your business without worrying about politics or stringent red tape. Consider the list that we compiled above while doing your research!