Top 10 countries in the world where it is easiest to start business

If you are planning to start off a business, you need to know in which countries it is easy to do so. According to the World Bank statistics, these are the top ten countries where it is easiest to start a business. You have some money which you want to invest in a business, I think you must read this article. Top 10 countries in the world where it is easiest to start a business are given below.

1-New Zealand: With only 1 step which requires hardly a half day, the small state of New Zealand offers great ease to start a business. One can be equipped with educated, trained and skillful labor here. Also, labor is quite cheap. One can run a business without paying payroll, social security and capital gains taxes.

2-Georgia:  In Georgia, it famously takes only two days to register a new business. Georgia has also taken radical steps toward the protection of rights of minority investors. Georgia’s reform on issuing permits for new construction projects is also worth noting. Recommended: How to get a Georgia visa for GCC residents and Iqama holders?

3-Singapore: Not only a great tourist place but Singapore is also known for its great business opportunities provisions; thereby it is known as the most competitive Asian country to start a business. It is a wealthy nation that is politically strong. With its skillful labor and no dividend tax levied, Singapore is the world’s 6th state where it is easy to start a business.

4-Canada: According to the World Bank ranking, Canada falls in 19th rank in ease of doing business and 2nd for starting a business. The Canadian soil provides a friendly atmosphere for new business setup, permits are easily granted to multinational firms, credit is granted on easy terms and conditions to new entrepreneurs. The short time span is required for starting a new venture in Canada. Recommended: How to Apply for a Canada Visit Visa from Saudi Arabia?

5-Hong Kong, China: With only 2 steps which require less than two days for starting a business, Hong Kong is the world’s third nation where it is easy to start a business. Hong Kong enjoys a great position and bounties as it is part of China. It is one of the best destinations to start a new business: a lot of foreigners desire to set up their business in Hong Kong. The free port is not the only attraction for entrepreneurs, but also businesses are exempted from paying capital gain tax. It is a great financial center where constructions permits are easy to gain.

6-Australia: Australia, once a British colony has adopted a common law-frame work. From a decade now, Australia’s economic policies have been loosened to attract foreign investors. Such policies include less than half of the traffic rates introduction and incredibly low corporate tax.

7-Armenia: Another great destination to start a business in Armenia. It is located in the west of Asia and enjoys the significant position.  With a modern industrial setup, it is easy to set up business here because of credit grants and claiming construction permits on easy terms.

8-Azerbaijan: Enjoying the 65th rank of ease of doing business and 5th rank for starting a business, Azerbaijan is a vital place for investment purposes and business set up. Azerbaijan is an oil exporting nation; it earns most of its revenues through oil. But now it is striking for diversification and supporting business setups here. It targets to attract investors, new and advanced technologies, foreign management experience i.e. economic policies have opened its arms for new entrepreneurs.

9-Ireland: It has taken steps towards protecting rights of minority investors: it is a country where all investors are given respect and honor. A great place for investors it is!

Pakistan enjoys a rank of 130 for starting a business. Saudi Arabia 141 and India 137. The poor ranks are broad because of the hiring of labor problems, lack of skilled labor, the rigidity of hours, redundancy cost, unemployment protection scheme, health insurance, and poor infrastructure. But as said by World Bank chief economist Kaushik Basu “An economy can do poorly on ‘Doing Business’ indicators but do well in macroeconomic policy or social welfare interventions.”

Source: Doing Business

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Steve has been living in Saudi Arabia since 2013 and writing about Saudi rules, regulations, guides, and procedures since then.