Countries for business relocation: Singapore, Greece, UAE
If you plan to transfer the company to another country, pay attention to such factors as the ease of registration and doing business, taxes, and the peculiarities of obtaining residence permit. The reputation of the business environment of the country and the ability to quickly conduct transactions inside and outside the country are important for international business. Given these points, experts often recommend relocating businesses to Singapore, Greece, and the UAE.
Relocation of business to Singapore
Singapore is one of the best places to relocate a company. The jurisdiction is investor-friendly. It is a startup hub, a bridge between West and East, which offers low and favorable taxes. Singapore's strategic location, political stability, and skilled workforce have made the country an important financial and industrial hub.
Other advantages of registering a company in Singapore include:
- The ability not to register a company from scratch but to redomicile. It allows the company to retain its history and brand.
- If the transfer is not possible, it takes only a couple of days to register a newthe company.
- Interesting incentives for startups.
- High work capacity of the population - Singapore has a cult of labor, which allows companies to actively grow.
- Excellent logistics with large airports and seaports.
- The high quality of life.
Income received in another country is not taxed, unless the money has reached the local bank accounts. Also, the company receives a tax exemption for the first 3 years, if it does not earn S$100K. Corporate tax is 9% if earnings are less than $300K. There is no capital gains tax. Dividends that are taxed at the corporate level are distributed without paying additional fees.
Relocating your business to Greece
Among the advantages of registering a company in Greece are a comfortable climate and a convenient strategic location. The country actively promotes investment projects, offering tax incentives and wage subsidies. Parliament recently passed a law aimed at encouraging foreigners to invest in the IT sphere, scientific development, agriculture, logistics, tourism, etc. It provides the following:
- Exemption from some taxes. If the businessperson is not a resident, one pays only for income earned in Greece.
- Opportunity to receive funding from the state.
- Low interest on a business loan.
- Subsidies that cover the cost of jobs created.
- Funding for corporate risks.
For entrepreneurs who are thinking of moving their business to Greece, the country offers quality logistics, skilled and inexpensive labor, and cheap rent. Greece is a member of the EU, which opens the possibility to work and reside freely in many European countries.
UAE is on the list of the best countries for ease of doing business. Among its advantages are a stable financial system, investor-friendly laws, visa reforms, and developed infrastructure.
Other perks of moving your business to the UAE include:
- Convenient time zone allows you to work with companies in Europe, Asia, and Africa without problems.
- Under the new law, foreigners can fully own a business.
- Powerful digital infrastructure.
- No income tax for individuals.
- High standard of living.
- Opportunity to get a long-term visa and residence permits for 5 and 10 years.
- Reduced cost of government services for business.
Special zones were created for the convenience of doing business in the country. They provide many tax and other benefits. When registering a company in the UAE the entrepreneur must take into account that each zone is designed for specific areas of business, in the light of which the authorities created infrastructure.
How to transfer a company to another country
If you are thinking of relocating your business, contact IT-OFFSHORE experts.