The Best Country for Doing Business

Pauline Familara
Pauline Familara
22 March 2024
The Best Country for Doing Business

Opening a company abroad is a common phenomenon in the modern world. Such a decision allows taking your business to a new level of development, optimizing tax payments, or exploring new markets. Each entrepreneur has their reason for business immigration, and much depends on the right choice of incorporation location. The best countries for doing business offer foreign investors various conditions, but in any jurisdiction, you can find something attractive and necessary to achieve your goal. We have analyzed the legislation of the most popular countries for incorporating foreign businesses and want to tell you where it is best to open a company abroad and how to choose the correct country for yourself.

Criteria for Choosing a Country to Open and Conduct Business

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When choosing a country for conducting entrepreneurial activities, the following factors should be taken into account:

  • Ease and speed of company registration, absence of complex bureaucratic procedures, transparency, and foreign investor-friendly nature of the process.
  • Tax policy towards foreign businesses: fewer taxes and lower rates, as well as special zones with preferential tax treatment, create good opportunities for tax optimization.
  • Business environment — availability of necessary infrastructure, access to technology, inexpensive labor, and skilled workforce.
  • Stability of the political and economic system, consistency of legislation regulating entrepreneurial activities.
  • Safety and comfort — the best country for doing business should have a low level of crime and corruption and an advantageous geographical location relative to transportation routes, ensuring convenient logistics of raw materials, materials, and finished products.
  • International image: Registering a company in a country with a good reputation will help gain the trust of business partners and avoid thorough checks of transactions by international financial organizations.

Other essential criteria for choosing a country for registration include the demand for the selected type of activity in its territory, the population’s purchasing power, and the presence of government support for foreign businesses.

Considering all these criteria is not easy without knowing the specifics of the legislation of different countries. Therefore, when choosing a jurisdiction for a new company, it is advisable to seek the assistance of a professional international lawyer. Such specialists can be found at Dynasty Business Adviser company.

Rating of the Best Countries for Doing Business

After analyzing the most popular directions of business immigration in recent years, we have compiled a ranking of countries that will suit a broad category of entrepreneurs.


The United Arab Emirates is the Middle East’s most significant financial and trade center. The advantages of this country include:

  • Favorable geographical location, providing convenient access to markets in Europe, Asia, and Africa.
  • Availability of state programs to support foreign business, especially in sectors of the economy not related to oil and gas extraction, processing, and transportation.
  • A favorable tax system with the world’s lowest corporate tax rate of 9%. It is only paid on profits exceeding 375,000 AED annually, approximately $102,000. The low rate is also set for VAT — only 5%, and other taxes typically imposed on offshore companies are only excise and import duties.
  • The absence of customs duties creates favorable conditions for international trade.
  • Easy and fast company registration, with foreigners allowed to own their firm 100% and engage in most activities.
  • The opportunity to obtain a residence visa is equivalent to the company’s residence permit and tax residency status.
  • The presence of free zones with tax incentives for various business sectors. There are 45 free zones in the Emirates, so finding a place for advantageous incorporation for any activity is possible.

When opening a local company outside free zones, you can conduct business nationwide and participate in government tenders. Experts from Dynasty Business Adviser can help you register a company in the Emirates quickly and efficiently.


This is the best country for business in the Pacific region and East Asia. The government does the following:

  • Pursues a policy aimed at attracting foreign investment into the economy.
  • Develops tax residency programs.
  • Effectively fights corruption.

Company registration in Singapore is simple and takes only 1-3 days. The corporate income tax rate is 17% but can be reduced thanks to tax incentives.


The main advantages of doing business in Cyprus include:

  • Low administrative and operating costs.
  • Tax optimization is possible through the low corporate income tax rate (12.5%) and the provision of tax incentives for certain activities.
  • There are no restrictions on currency exchange and banking transactions using any currency.
  • Accessibility of obtaining EU citizenship through company registration.

Opening a business in Cyprus can be done in 15-20 days with a minimum set of documents. Registering for an expedited service takes 3 to 6 working days.

Hong Kong

In this particular administrative region of China, attractive conditions for doing business for non-residents have been created:

  • Simplified registration procedure without the presence of the founder;
  • Full ownership by foreign investors;
  • A wide range of available types of activities;
  • A competitive tax system without most taxes, including VAT, is ordinary in other countries. Legal entities pay a single tax on profits earned in Hong Kong, which is 8.25% and 16.5%.


The attractiveness of company registration for foreign investors in Canada – the best country for business in North America is ensured by:

  • A stable and robust economy, ranking 9th in the world.
  • A flexible tax system with one of the lowest corporate income tax rates — 15%, and tax incentives for joint ventures.
  • A large number of highly skilled professionals.
  • Government support for startups.

By opening a business in Canada, you may be eligible to apply for citizenship there.

In addition to the jurisdictions listed at the top of our ranking among the best countries for doing business, we can also include the following:

  • The wealthiest oil-producing countries in the Middle East — Bahrain, Qatar, and Kuwait.
  • Countries with low tax burdens — Malta, Bulgaria, and the International Business Center of Madeira (Portugal).
  • Jurisdictions with high taxes and tax incentives — the USA, Germany, the United Kingdom, Ireland, Denmark, and Norway.

TOP Countries Where It Is Easier to Conduct Small Business

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Until 2020, the World Bank led the TOP countries for doing business, according to the Doing Business Index (ease of doing business). This index was calculated taking into account ten indicators characterizing the simplicity of:

  • Starting a business — how complex the registration procedure is, how much time and money it takes, and what minimum statutory capital is required.
  • Obtaining construction permits.
  • Obtaining and installing electricity supply.
  • Commercial property registration procedures.
  • Getting credit.
  • Paying taxes implies the overall tax burden on business and the complexity of preparing tax returns.
  • Investor protection rights.
  • Contract enforcement.
  • International trade.
  • Closing a company.

According to the latest rankings in 2020, the TOP 10 countries in the Doing Business Index are

  1. New Zealand (86.8).
  2. Singapore (86.2).
  3. Hong Kong SAR, China (85.3).
  4. Denmark (85.3).
  5. South Korea (84.0).
  6. USA (84.0).
  7. Georgia (83.7).
  8. United Kingdom (83.5).
  9. Norway (82.6).
  10. Sweden (82.0).

In this list, the UAE ranks 16th with an index of 80.9, Germany — 22 (79.7), Canada — 23 (79.6), and Ireland — 24 (79.6).

In Which Country Can You Obtain a Residence Permit by Opening a Company

Every entrepreneur pursues specific goals when choosing the best country to conduct business. Obtaining a residence permit or citizenship is a significant advantage, if not the primary goal when choosing a place for business immigration. Many countries seeking to attract foreign investments provide such an opportunity to founders, shareholders, and family members.

The most promising countries for conducting business, where you can quickly obtain a residence permit, are:

  • UAE — When registering an offshore company in the Emirates, all founders, directors, and employees can obtain a residency visa, granting them the right to temporary residence there. Residents ‘ family members can also live in the UAE on a sponsorship visa. The residency visa is issued for 2 or 3 years with the right of renewal, and it takes about a month to process. Most of this time is spent on document preparation, and it takes 5-7 days to approve the status. Dynasty Business Adviser specialists will help you obtain a residence permit in the UAE as quickly as possible.
  • France — the French Tech Visa grants the right to reside in the country for 4 years and conduct business in the European Union without restrictions. Long-term temporary residence permits are issued to investors and founders of startups and their family members, with the right to renew and subsequently apply for permanent residency and French citizenship through a simplified procedure. To obtain a residence permit, the business owner must prove their qualifications by presenting an internationally recognized diploma.
  • Serbia — registering or purchasing a company in this country entitles you to obtain a renewable annual resident status, and after 5 years of residency, you can apply for citizenship. Considering the low tax rate, business immigration to the Republic of Serbia can be seen as a method of international tax planning.
  • Hungary — foreigners who register a company can obtain a residence permit here for three years with the right of extension for the same period. A minimum statutory capital contribution is required only when opening an LLC (€7,900) and a joint-stock company — private (€13,300) or public (€53,200). The decision on granting a residence permit is made within 21 days.

Choosing a Reliable Country to Launch a Business

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To determine where it is best to open a company abroad, you need to do the following:

  1. Seek consultation from a consulting company specializing in registering legal entities abroad.
  2. Provide specialists with information about the future company’s type of activity, desired legal form, founders’ education, and other data.
  3. Sign a contract for consulting services and make payment.

Experienced lawyers and business analysts will suggest several jurisdictions for incorporating your business and the most convenient strategy for its immigration. This could involve establishing a new legal entity or branch of an existing company, purchasing a ready-made business, or relocating your current business.

If you decide to open a business in the Middle East, seek assistance from Dynasty Business Adviser specialists. We are a licensed company registrar in the United Arab Emirates and provide assistance in opening and conducting business in this country, as well as in Bahrain and Qatar.

Our article is not a legal consultation and is for informational purposes only. For advice on choosing the best country for your business, you can consult with professional lawyers from Dynasty Business Adviser by contacting us through any of the methods listed in our website’s Contacts section.

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