It is of no secret that many entrepreneurs from the former USSR try to develop their business in new markets. One of the most promising markets is the European Union, due to good conditions provided for business. List of the reasons making Europe so popular among entrepreneurs includes favorable investment background, beneficial terms of lending, wide state support, liberal legislation and many others.
Such conditions characterize almost every EU member state, but national legislation of each country has its own peculiarities. Therefore, each entrepreneur who wants to start a business in Europe can choose favorable conditions for launch of his or her project. Estonia is the country with the most favorable climate for starting a business.
Estonia is the country with the most favorable climate for starting a business
Estonia is the country with the best conditions for starting a business in Europe. There are many reasons to choose Estonia. Their number is quite big, at that the list includes peculiarities of this country only. It is sufficient to mention 10 main reasons, that make launch of own business in Estonia attractive and promising in terms of investments:
1. There is no corporate tax in the country
This applies to all companies, including foreign ones. Due to this rule any person can withdraw the profit without payment of ay interest to the public treasury. In addition, rates of other taxes are very low
2. Virtual residency
It is sufficient to get such type of residency for starting a business in Estonia. The case is that any citizen of the country has special ID card and it replaces most of identifying documents. Any person, including a foreigner, may apply for it, what makes it possible to register a business in Estonia without the slightest problem.
3. Estonia is the country with the widest use of the Internet
Almost all the issues associated to work with the state services can be resolved via the World Web. Huge amount of IT startups are launched annually in Estonia and this made the country a well-known brand. By the way, Skype, which is now used as the primary service for online communication in the world, has been developed in Estonia.
4. There are no language barriers
There are no language barriers for entrepreneurs from the former USSR, as people here speak Russian very well. Also, practically everybody knows English, so there are no problems with understanding
5. Geographical position
Geographical position of Estonia is one of its advantages as the best country for starting a business. Estonia is an EU member state, it shares a border with Russia and it is easy to get from the country to Nordic region and any part of Europe. Due to this, Estonia can be called the real gates to the European Union
6. Beneficial terms of lending for companies
The state provides beneficial terms of lending for companies and their extent is greater than in the rest of the Europe. You can also apply for obtaining financial support from the government for launching projects
7. Publicity of the business
This peculiarity makes it possible to get access to a credit history of any company and this gives you opportunity to choose a reliable partner for doing business. All business processes here are transparent, and information about companies and their work is in the public domain
8. There are qualified personnel
At that average salary level is lower than in the rest of the Europe and this is good for an employee.
Considering small size of the domestic market of the country, any project is launched with global perspectives. And it means that business started in Estonia won’t be conducted just here, but in the future it will reach a new level in other countries.
There is possibility to set up a special form of form of business activity – limited liability partnership (LLP). This form of organization has a range of advantages, such as speed of registration, minimal share capital (from 2,500 Euro) and the fact that shareholders bear no property liability for obligations of LLP.
This list is not exhaustive, because there are many advantages which make Estonia an attractive country for starting a business. Many entrepreneurs have seen it for themselves and some entrepreneurs just want to follow the lead. In any case, it is clear that every effort was made for success in this country.