The cheapest cities in the world to open a company 2022
Choosing the cheapest city in the world to open a company, you should look not only at the price of registration, but also the respectability of the jurisdiction. We advise to pay attention to the eastern EU countries. Customers are much more loyal to companies from the European Union than from little-known islands. If you plan to live in the city where the business is registered, the price of rent, groceries, the possibility of obtaining a residence permit is important.
Interested in low cost of business registration - we recommend opening a company in Ljubljana. Registration price is low, it takes 3 days but the registered capital shall not be lower than €7,5K. The country is part of the EU, opens access to the European market and its possibilities, can boast a high standard of living.
To get a residence permit, the entrepreneur who formed a company in Slovenia, is not obliged to provide work to local residents. But he must meet one of the following conditions:
- Invest €500K in the enterprise (purchase equipment, cars, real estate);
- Demonstrate a monthly turnover of €10000 within 6 months;
- Hire an employee, whose position must be held for six months. If you consider the minimum wage in Slovenia it costs more than €5000. In order to be able to hire an employee, the director must have Slovene GND;
If these options do not suit, you can get a residence permit not as the owner, but as an employee of the company, for which you need to hire yourself. The director can hire an acquaintance part-time.
It is profitable to develop a business in Hungary. To open a LLP you pay €86, Ltd - €172 (in a simplified procedure). It is also possible to register for free at the:
- tax authority;
- Chamber of Commerce;
- Central Office of National Pension Insurance.
European TIN is issued automatically, without additional documents and bureaucracy. Income tax in Hungary is 9%, which makes the country ideal for foreigners who want to work in the EU.
To get a residence permit, the entrepreneur must not just open a company in Budapest, but also provide a detailed business plan. It must contain information about the company's business activities, expected results, etc. All papers are carefully checked, so it is necessary to prepare well. Residence permit is issued for 3 years with the possibility of extension for the same period. The condition is that the resident is still engaged in economic activity.
The Czech Republic boasts low business costs. This is explained by:
- low cost of living;
- inexpensive electricity, which is important for the IT business;
- relatively low wages compared to many European countries.
Registering a company in Prague attracts low corporate rates - 19%, lively business activity. To get a residence permit, the company must operate and make a real income for 3 months. It must not be fictitious, the regulator needs to present a real business plan, the authorized capital - from €3900. At first the residence permit is issued for 1-2 years, then it is prolonged for the same period. After 5 years, you can ask for permanent residence permit.
Minus Czech Republic - there can be bureaucratic difficulties in opening a business. To avoid them, consult our experts.
Where you can cheaply open a company
If you are looking for a cheap city to open a company, contact IT-OFFSHORE experts.