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Home » Here are the best countries to start or join a business in 2024
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Here are the best countries to start or join a business in 2024

adminBy adminNovember 13, 2023No Comments7 Mins Read0 Views
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The opportunities and challenges faced by entrepreneurs and business owners are changing rapidly, just like in the rest of the world. Whether you are starting a new company or joining an existing one, there are several things to consider, such as ease of doing business, market potential, taxation, innovation ecosystem, talent pool, and quality of life in different countries. Based on the latest statistics and trends from various sources, here are some of the best countries to start or join a business in 2024. However, your decision may also be influenced by many other factors, such as your own preferences, business goals, target market, industry sector, financial constraints, risk tolerance, and growth potential. Therefore, we recommend that you research thoroughly and consult with experts before making any decision.

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Dubai

Dubai is one of the seven emirates that make up the United Arab Emirates (UAE), a wealthy and modern Middle Eastern country. Dubai is well known for its stunning skyline, luxury lifestyle, diverse culture, and dynamic economy. Dubai offers many benefits to business travelers and corporations, especially within its various free zones. Dubai is home to around 40 free zones that cater to many sectors and businesses, including ICT, media, finance, gold and jewellery, healthcare, AI, and more.

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Some of the ways that can help you start or join a business in Dubai include:

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Business Visitor Visa It allows you to enter Dubai for short-term business trips such as attending meetings, conferences, trade fairs, conducting market research and negotiating contracts.

Investor Visa You will be able to enter Dubai to invest in existing or new businesses in Dubai if you have at least AED 10 million invested directly or through investment funds in one or more companies in Dubai.

Entrepreneur Visa It allows them to enter Dubai to set up or run innovative businesses approved by government agencies.

Ireland

Ireland is a poor but small island nation that is a member of the Eurozone and the European Union. It is known as a center of innovation, learning and culture, and a warm and welcoming vacation spot for tourists and investors. Ireland has a number of free zones that offer tax breaks, duty exemptions and simplified business processes. The two most important are Dublin Airport Free Zone, the hub of the aviation and logistics industry, and Shannon Free Zone, the oldest and largest free zone in Ireland.Some of the ways to help you start or join a business in Ireland include:
For short-term business trips such as attending meetings, conferences, seminars, market research, contract negotiations, etc. Business Visitor Visa This allows entry into Ireland.

To enter Ireland and gain access to highly skilled jobs in demand in the Irish labour market, Critical Skills Employment Permit.

Startup Entrepreneurship Program Allowing people to enter Ireland to set up or operate cutting edge businesses with significant growth and job creation potential.

England

Another popular location for entrepreneurs and business owners is the UK, especially in sectors such as fintech, e-commerce, biotech, gaming and the creative industries. The UK has a large and sophisticated market, a vibrant innovation ecosystem, a favourable tax regime and a strong judicial system. The UK has announced that it will establish up to 10 free ports in England, Wales, Scotland and Northern Ireland after it leaves the European Union.Some of the ways to help you start or join a business in the UK include:
Short business trips to the UK, such as to attend meetings, conferences, training sessions, contract negotiations etc, are permitted provided that the following conditions are met: Standard Visitor Visa.

Ann Innovator Visa It enables you to enter the UK to start up or run an innovative business that has been approved by a certifying body.

To work in any of the following qualification areas: Science, Engineering, Humanities, Healthcare, Digital Technology, Arts and Culture, Research and Innovation Global Talent Visa.

America

For entrepreneurs and business owners, the United States remains one of the most attractive locations due to its large and diverse market, strong innovation culture, abundant capital and talent, and favorable regulatory environment. The United States is home to more than 250 Foreign Trade Zones (FTZs), which allow duty-free import, storage, and processing of foreign products. FTZs are administered by U.S. Customs and Border Protection and are located near ports, airports, and border crossings.

Some of the ways to help you start or join a business in the United States include:
For short business trips to the United States, Business Visitor Visa (B-1). Examples of such travel include attending conferences, meeting with customers, and conducting market research.

To enter the United States E-1/E-2 Trade and Investor Treaty Visas Engage in trade or investment activities supported by a treaty between the United States and the applicant's home country.

In the United States, you are permitted to work for a branch, subsidiary or affiliate of your home country employer. L-1 Intra-Company Transferee Visa.

Australia

Australia is yet another attractive location for entrepreneurs and business owners, especially in industries such as edtech, healthtech, cleantech, and tourism. Australia offers a safe and vibrant economy, a welcoming and accommodating regulatory environment, abundant and diverse natural resources, and a first-rate and widely accessible education system. Australia has two Special Economic Zones (SEZs) that offer tax incentives and other benefits to businesses: Christmas Island SEZ and Northern Territory SEZ. The SEZs encompass the entire territory and aim to attract investment in tourism, agriculture, mining, and energy industries.

Some ways to help you start or join a business in Australia include:
To enter Australia for short-term business trips such as attending meetings, conferences, seminars, market research and contract negotiations, Short-term Visit Pass.

To enter Australia for long-term business travel, such as corporate prospecting, investment or professional development activities, Business Visitor Visa (Subclass 600).

As long as your demonstrated viable business idea has access to investment funding of at least AUD 200,000 and you have achieved at least 65 points on the Business Innovation and Investment Visa points test Business Innovation and Investment Visa (Subclass 188) It allows you to enter Australia to start or operate an innovative business that has been approved by an approved organisation.

Canada

Canada is a large and diverse country with a strong economy, established government, high standard of living and a welcoming culture. Canada is home to 12 Foreign Trade Zones (FTZs) that offer companies expedited customs clearance, duty-free and customs relief. FTZs are administered by the Canada Border Services Agency and are located near key ports, airports and border crossings. FTZs contribute to Canada's economic growth, innovation and trade diversification.

Some ways to help you start or join a business in Canada include:
Have Business Visitor Visa A permit that allows you to travel to Canada for business purposes for up to six months.

Have Startup Visa This permit allows you to enter Canada to start or operate an innovative enterprise backed by a recognized organization, but you must be able to prove that your business idea is viable and creative, and have access to investment capital of at least CAD 200,000.

Employers must have worked for the same company for at least one year in the past three years. Internal Transfer This permit enables you to enter Canada to work for a branch, subsidiary or affiliate of your employer's home country.

new zealand

New Zealand is a small but prosperous island nation with a reputation as a leader in environmental sustainability, social well-being and cultural diversity. According to the World Bank's “Doing Business 2020” report, New Zealand is ranked first out of 190 countries in ease of doing business.

Some ways to help you start or join a business in New Zealand include:
If you can't receive funds from New Zealand: Business Visitor Visa The visa, which allows short-term business trips to New Zealand, is valid for three months.

Entering New Zealand Entrepreneur Work Visa You can start or run a fast-growing innovative business that is approved by a recognised body. Your business plan must have an investment capital of at least NZ$100,000.

Entering New Zealand Global Impact Work Visa He works for a social impact enterprise supported by an Edmund Hillary Fellowship.

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(First released on November 13, 2023)

(Disclaimer: The opinions expressed in this column are those of the author. The facts and opinions expressed here do not necessarily reflect the views of www.economictimes.com.)



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