If you are considering starting a business, you have one fundamental question to ask yourself: where? If you have the option to set up a business in any place of your choosing, then it is time to think long and hard about this decision. The obvious choice would be the west. However, what if we told you the west is not the only great location for new companies? To help you with your decision, we have put together a list of the best places in the world for doing business. We hope you find it helpful.

Lithuania

After the Soviet Union collapsed, Lithuania went through a long market modernization and liberalization process. Since then, it has experienced constant growth, even more so in the last decade. What makes the country even more attractive to business owners is the well-educated workforce available at a lower rate than in the west. And to top it all off, the country has incredibly low tax rates. Lithuania also offers a second residency for anyone who wants to start a business in the country. As the largest Baltic state, it will give you access to both Russian and European markets. Of course, staying on top of business trends is still incredibly important. But every factor which makes good business is present in Lithuania. You really can’t go wrong with starting a business here.

New Zealand

New Zealand is largely considered to be one of the best places in the world for doing business and one of the easiest. Starting in New Zealand can be done entirely online. And to make it better, with no paid-in minimum capital. New Zealand also holds a very high standard of life. All of this, combined with its strong court system, make it a perfect choice for anyone who wants to start a small business abroad and then grow it. As long as you know what every small business should do, you will have no trouble finding success here. The country is also fairly Westernized while still close to Asia’s bustling markets. This makes it a unique fit of being good for business and still feeling like home for anyone from the west. A rare mix that you are sure to appreciate.

Ireland

While most of Europe is starting to fall behind with increasing debt and regulations, Ireland’s economy grows exponentially. Second residency here is also easy to come by, so long as you’re willing to spend 500,000 euros on real estate within the country or have Irish heritage. Ireland provides a business-friendly environment, primarily thanks to the low taxes within the country. All of this together means that Ireland is a wonderful place for starting a larger organization and investing in the long term. While a small business could work out here, the environment in the country is much more friendly towards larger enterprises. Of course, this comes with the drawback of having to invest more into starting the business, but the investment is very likely going to pay for itself in no time at all.

Hong Kong

As a city that stands out as a particularly great place to do business, Hong Kong is quickly becoming the global center of wealth. Only one other place can be compared to Hong Kong when it comes to this – Singapore (but more on that later). Still, we can say that, without a doubt, this is by far one of the best places in the world for doing business. It is predominantly English-speaking and with some of the world’s best airports, banking and business laws, and low taxes. On top of that, Hong Kong is also internationally respected. However, if you plan to do business here, prepare yourself for a long moving process. Experts from Relosmart Movers recommend you start to plan at least half a year ahead because simply finding a home can take a very long time.

Denmark

Denmark makes it onto this list because of its incentives for foreign investors. Foreigners starting a business here are offered a low corporate tax, a special tax system for high salary ex-pats, and a few other benefits. Still, we don’t recommend starting any business here which relies on construction. Denmark has rather expensive dealings when it comes to construction permits and obtaining water and sewage connections. But it is otherwise quite good for business. 

Singapore

Recently, certain billionaires have been moving their businesses into Singapore, and for a good reason. Singapore has, by far, the best conditions for doing business in the world. There is nothing to complain about, from the banking and business laws to taxes. It only takes a day to start a company in the city, and it is renowned as one of the least corrupt places in the world. Hong Kong is the only real competition, and there is no clear answer on which is better. It all comes down to the needs of your business. Singapore is also a fantastic place to grow your business, and it is all made a lot easier by using social media platforms to help out.

The best places in the world for doing business – Closing thoughts

One of the most critical stages of starting a business is choosing the right location. This decision, by itself, can make or break your success in the long run. So, consider all of the options, do your research ahead of time, and don’t rush the decision. We hope you found this list of the best places in the world for doing business helpful, and we wish you luck with your endeavors.