Dubai, United Arab Emirates: Successful entrepreneurs are an ambitious bunch; whether it be expansion, market share, profit, brand recognition, or otherwise, they always crave more, and the good news is, that is exactly what Europe offers – more of everything including Citizenship by Investment.
The EU alone boasts the world’s largest free trade markets and its member states rank first on the ease of doing business report in terms of trading across borders. But it isn’t just the EU, as the entirety of the continent proves extremely enticing for those looking to cement their business on a global stage while simultaneously granting their brand greater credibility.
The Perfect Destination
If you are thinking about setting up a shop in Europe you first need to decide on the country your business will call home. The perfect destination is not just the most recognized name brand, but instead a country that provides you with two things; a fertile business environment and a simple way of getting to it through Citizenship by Investment.
Operating a business is no easy task, and doing so in a hostile environment makes it near impossible, which is why you should choose a nation that has a strong economic landscape lush with financial and corporate services that can bolster your company’s pursuit of glory.
The ease of registering a business, finding good employees, working under an acceptable tax regime and regulations structure, and conducting business with favourable operating costs all make a business environment more hospitable, boosting the chances your business will not just survive, but actually thrive.
Getting A Residency
With all the planning, capital, and effort you put into a business you wouldn’t want it to fail over something as trivial as you not being able to get a residency permit to actively run it, would you? Well, sadly, that happens more often than not.
Getting a residency in many countries is a complex, draining process that may require years of patience before actually getting an approval. This conundrum is especially evident in Canada, Australia, New Zealand, and many others.
Some nations, such as Germany, boast general, unspecific requirements and leave it up to immigration authorities to use their discretion in assessing a file. And in most nations, if you want to get a residency card based on your company, you have to actually register and start up the company before applying.
So being able to plan ahead you need to choose a country that is both easy to get to and easy to operate a business in, and that is exactly what the following 4 nations provide.
The European Countries That Tick All The Boxes
Sometimes the stars align and you are presented with an opportunity that meets all of your needs. In the case of opening a business in Europe, the alignment is so perfect that you have not one, but four outstanding options.
The Atlantic bound country offers one of the best business environments in the world, strategically located in the center of the world’s map allows for easy global communication, the regulatory framework is both robust yet favorable, and it has an outstanding workforce especially in STEM (science, technology, engineering, and manufacturing).
Not only is the workforce extremely talented, but it is cost-effective as well. On average, software engineers in Portugal demand a salary 72% lower than those in the UK. And communicating with the team is also quite simple, as English is prevalent in the nation.
Portugal also ranks first worldwide in the ease of trading across borders, while corporate taxation is simple and paid at a flat rate of 21%. However, residents of the nation can apply for the Non-Habitual Residency scheme and gain amazing tax benefits for a decade at a time.
The European nation hosts one of the world’s most popular Residency by Investment Programs – the Portuguese Golden Visa Program. By buying a qualified property for 280,000 euros you and the family can gain residency in Portugal within a matter of months.
The birthplace of democracy, Greece still boasts favourable laws and regulations that make living in the nation as well as running a business in it an absolute pleasure. An open market with low operating costs compared to Europe’s elite, Greece is another nation that you should consider for your company’s European HQ.
The pleasant weather and living expenses, which are on average 106% lower in Athens than they are in London, make it a great place to live. Registering a business in Greece is extremely simple, as it ranks 11th worldwide in the ease of starting a business. Its strategic location connecting Europe to the MENA is also great for international trade.
Getting a residency in Greece is fairly simple, as it also has its version of the Golden Visa. Foreigners who buy a property, or properties, amounting to 250,000 euros can get a residency card in less than half a year.
Being able to choose between Madrid, Barcelona, and Seville as a new home for your business is enticing enough for someone to consider Spain and its Golden Visa Program for their new European HQ. Add to that the fact that English is widely spoken in major cities thanks to tourism, and that the workforce is extremely capable, then you have a destination with few drawbacks.
Corporate tax is paid at a flat rate of 25% while operating costs are extremely competitive. Renting an office in Madrid is, on average, 73% cheaper than doing so in London. Free trade across borders in Spain is especially strong, as it ranks first worldwide alongside Portugal in that regard.
The “land of castles” also has a simple immigration route, another version of the golden visa in which investors only need to buy immovable property for the among of 500,000 euros to gain a Spanish residency card.
While not part of the EU, and while technically being a transcontinental country connecting Europe to Asia, Turkey remains a robust destination for global entrepreneurs.
A country with endless economic potential, low overhead costs, a high standard of living, and average consumer prices 248% lower than the UK; Turkey is one of the best places in the world to live and operate a business.
English and Arabic are prevalent in major cities, while the talented workforce has outstanding experience and a low operating cost. Turkey even ranks higher on the ease of doing business report than the likes of Switzerland, Netherlands, and Belgium.
It also boasts a Citizenship by Investment Program, through which a foreign investor that purchases real estate in the among of 250,000 USD can become a full-fledged Turkish citizen.
The Options Are Plenty
There are a lot of options to consider when setting up shop in Europe, but it is important that you be able to be there running your business, which is why considering the immigration aspect is critical to your success. That is where we come in, through our extensive expertise in both corporate and immigration matters, we can help you find the best destination for you, your family, and your business; all you need to do is contact us today to book a free consultation.
Savory & Partners is an accredited agent for multiple governments where citizenship by investment is offered. Founded in 1797, the agency has evolved from pharmaceuticals to family assets and legacy protection through second citizenship and residency. The company’s professional, multinational staff is made up of expert advisors who have guided thousands of clients, including many North African investors, on their journey to find the most suitable CBI program for them. The Savory & Partners team will be happy to answer your enquiries in English, Arabic and French.