List of the best countries for IT-business: Top 4
The most favorable countries for conducting IT business are the USA, Great Britain, Canada and India. They welcome startups, actively invest in research and development, the technological base and IT education, and give grants to promising projects. They also give tax, social and other benefits.
American IT-business steadily develops and brings income, and there are many factors that contribute to it, including:
- Fast Internet;
- Powerful technological base;
- It is possible to open a company in the USA for IT business remotely from anywhere in the world;
- All transactions are easily done over the Internet;
- You can choose a state for registration, taking into account its tax policy;
- Simple tax accounting;
- Opportunity to make prestigious business acquaintances, which contribute to the development of business;
- Working with the dollar without restrictions;
- No problems with the receipt of money from abroad;
- Powerful protection of intellectual property rights.
No other nation in the world offers such a variety of payment systems as the United States. Because of great competition they attract clients with interesting benefits and conditions, including the ability to work with partners from Australia, Canada, and other countries.
The UK offers a well-developed Internet, wide access to a reliable customer base and secure business for IT professionals.
Opening a company in the UK for IT business is profitable and for such reasons:
- A company registered in the U.K. is trusted, which encourages customer growth;
- A strong, reliable economy;
- Stable political system;
- Unbiased courts;
- Simplified process of opening a company, keeping tax records;
- Opportunity to legally save on taxes;
- A reliable banking system;
- The possibility of getting a grant.
A disadvantage of the UK is the problem of opening a bank account. The problem can be solved by registering in the payment system.
Compared with the U.S., Canada has simpler rules for obtaining a visa for people who set up a startup. Also life here is cheaper, including buying and renting a house and the IT sphere is highly developed.
Registering an IT company in Canada has many other advantages:
- Interest in foreign IT specialists;
- Highly skilled workforce;
- Well-developed IT technology;
- Fast internet;
- High protection of property rights;
- Access to government grants;
- Large number of government projects for IT people;
- Tax incentives. For example, for newcomers social costs for living and adaptation in Canada (education, some medical expenses, etc.) are deducted from corporate income tax.
A big advantage is the high political and economic stability. The unrest in Asia and Europe almost never affects Canada, which makes it possible to successfully develop business.
India has the 2nd highest number of Internet users in the world. A good education allows you to get a higher rank in the country, which makes it a demanded option. The IT sphere in India is actively developing. There are already more than 4,000 startups here related to the following:
- social media;
- mobile technologies;
- web analytics;
- augmented reality;
- cloud computing;
- financial and advertising technologies;
- robotics, etc.
In addition, India boasts strong economic growth, a strong banking sector, and political stability. The high purchasing power of the local population attracts particular attention. Given the large number of young people who are actively learning internet technology, registering an IT company in India has huge prospects.
Where to open an IT business in 2022
If you are looking for a country that is suitable for your IT business, contact IT-OFFSHORE experts and we will help you.