While it’s true that the world is wrought with economic instabilities today, the year 2019 offers some good business opportunities. Considering the rates of economic growth in some of the EU countries, this will be a good time to expand your business there. Whether you should open a branch or a brand new company mostly depends on the country’s corporate law and opportunities for foreign investors. Out of the many locations in the EU, Germany, Ireland, and Estonia look like the best places to put your capital in 2019.
Top 3 EU Countries for Opening a Business in 2019
Germany, according to global CEOs, is one of the prime locations in the world for investing in 2019. Despite the murky situation with the refugee crisis, this economy remains one of the most steadfast in the world. In fact, it has the 4th largest nominal GDP of $4.211 trillion and the 5th Human Development Index. The low level of corruption and high level of innovation make Germany a very good place for ambitious business projects, especially in the field of technology. Note that Germany is the second best country in the world based on manufacturing capabilities and is renowned for its skilled labor force. This is a place for sophisticated companies that want to be associated with impeccable quality.
When expanding your business, you’ll need to decide whether to open a branch or a subsidiary in Germany. Both options have advantages, but their differences make it essential to consider your long-term goals. A subsidiary will be more flexible in terms of taxes, but a branch will be only partially independent from the foreign parent company.
As both options have some pros and cons from the point of corporate law, it will be best to consult a team of experienced German lawyers. Talk to professionals who specialize in dealing with foreign businesses as they will be able to advise you which is the best option considering your ultimate goals.
The first thing you need to know about doing business in Estonia is that this country has a 0% income tax on retained or reinvested profits. It’s also the home for some of the most innovative e-services. When entering this market, the best option will be to set up an Estonian OU. This is the most popular type of company in the country and it will allow you a lot of flexibility in managing your funds. If you are working with experts in opening companies in Estonia, they should be able to guide you on how to start this business without paying extra. The OU allows for a minimum share capital of €2,550 with shares of €6.4 each (minimum). If you stay within this capital, your company won’t need to go through an auditor assessment.
According to Inc., the country might as well be called E-stonia due to the number of successful tech businesses. If this is your area of specialization, this place in the EU will offer the best opportunities in finding skilled employees that will take your business to a new level.
Despite its small size and history of being an ex-Soviet state, today Estonia is one of the wealthiest countries in the world with the lowest government debt to GDP ratio in the entire EU. Public debt in the country is extremely low and the country’s economy barely dipped even during the latest global recession.
One of the main reasons why you should consider expanding your business to Ireland in 2019 is that doing this is exceedingly easy. The country is open and welcoming of foreign funds, so there is little in ways of legalities that you need to handle. Irish lawyers who can who can help you open a company will be able to help you get a trading name and register your business with the Companies Registration Office.
Basically, that’s all you need to open a business in Ireland. The trickier part comes when you need to hire employees. However, you can avoid any issues on this front if you use the services of registered employment agencies. Your Irish lawyers will file all necessary employment paperwork with relevant authorities as soon as the agency finds suitable candidates to fill all your vacancies.
Other reasons for expanding your business to Ireland in 2019 include great opportunities for intellectual property development and the fact that this country has one of the most open economies in the world. That’s definitely one of the main reasons why it managed to recover speedily after the latest global economic recession. Today, Ireland has GDP of over $345 billion and the country’s economy is steadily growing. By taking your business here you can benefit from the fact that there are two jurisdictions on the Irish territory, which use two currencies, Euro and Pound Sterling.
Where to Take Your Business in the EU: Final Thoughts
Germany, Ireland, and Estonia are all countries that offer fantastic business opportunities. Choose the right one for you based on the field you are interested in and tax systems that can give you the greatest advantage.