Which country is the easiest for starting a company in 2022
The COVID-19 has transformed the business world. On the one hand, entrepreneurs have faced a lot of problems. On the other hand, they gained a lot of opportunities. Not only to work online, but also to register a business online in any country worldwide. Malaysia, Thailand, Singapore, and India offer the opportunity to open a company quickly and easily in 2022.
A company in Malaysia can be registered through an online service or by sending documents to the head office of the Commission for Companies in Malaysia (Suruhanjaya Syarikat Malaysia). To do this, all you have to do is come up with a unique name and register it through the form BORANG PNA 42. Then, you need to apply for registration through the form BORANG A, specifying the type of business and providing passport details.
The company registration certificate in Malaysia 2022 is issued within an hour after the registration fees are paid. It is valid from 1 to 5 years, after which a renewal is required.
Advantages of doing business in Malaysia include:
- stable political and economic situation;
- cheap, yet educated workforce;
- developed financial sector and infrastructure;
- minimum of bureaucracy;
- government support and incentives for employees hired;
- convenient location if you plan to enter the Asian market.
Singapore is ideal for an offshore company. Application for registration can be submitted online, and the regulator reviews documents for about 2 weeks. If there are no mistakes or issues, registration documents are issued. The opportunity to quickly open a company in Singapore in 2022 and favorable tax policies have contributed to the influx of investment to the country.
The advantages of Singapore for business:
- Political and economic stability;
- Robust banking system;
- The fourth financial center of the world;
- Can not pay taxes on income which was received abroad, not received in the account of Singapore banks;
- No taxes on capital gains, gifts, dividends;
- Flexible and clear procedure for tax reporting;
- Quickly enter the Asian market.
Thailand boasts one of the fastest growing economies in the world, strong demand for consumer goods, and emerging startups. It takes a week to register a company in Thailand in 2022, and it has recently become much cheaper because of fixed registration fees.
Advantages of Thailand for business:
- ease of doing business;
- active encouragement of investors by the government;
- cheap manufacturing;
- large and versatile labor force.
India is one of the best countries for starting a business, as it has made the process streamlined and fast. The regulator reviews the application no longer than 18 days and then makes a decision. In total, it takes 1-2 months to sort out the legal formalities associated with the registration.
The speed is caused by the fact that the Indian government understands the importance of investment in the country, which can solve a number of socio-economic problems. Therefore, it is not difficult to open a company in India in 2022.
The advantages of India for business:
- cheap labor;
- large-scale government support through various programs, taxes;
- actively developing IT-sector;
- large market - the country is home to more than 1.3 billion people;
- rapidly growing economy;
- low operating costs;
- steadily growing economy;
- a company in India can be fully owned by a foreigner.
How to start a company quickly in 2022
If you're looking for a promising country where you can start a company quickly and do business easily, contact IT-OFFSHORE experts and we'll help you.