Is it worth starting a business in Europe ?
The policy of the EU countries is aimed at creating optimal conditions for foreign entrepreneurs that help the economic growth of the chosen country. There are a number of benefits that can be received in different countries, although there are policy differences within the Union.
For the most part, it is common to talk about reducing the tax burden on businesses. In many European countries, small and medium-sized businesses benefit from lower tax rates and various government incentives.
Here it should be noted that Slovakia has a particularly profitable taxation system: corporate tax -15% and dividend tax 7%. The level of taxes is relatively low compared to many European countries.
There is also government support: the European Union can provide funding in the form of loans and grants for a wide variety of projects and programs in areas such as education, health, consumer protection, humanitarian aid, and more, depending on the scope of the project and the priorities set by the particular country in which you are opening a business. The purpose of the financing is to drive the creation of jobs, develop business competitiveness, encourage economic growth and improve the quality of life of the citizens.
And what about profitability? The European Union makes a significant contribution to the world economy, being the largest market trading with 80 countries. For comparison: the US trades with a little more than 20 countries. Thanks to this, registering a business in the EU contributes to the increase in income, given that a company can be established in one country, and from there expand its influence throughout the EU. Get to know the bureaucracy
There are certain difficulties to consider when deciding to start a business in Europe. For example, initial capital. Some European countries require a foreign entrepreneur to prove that it has enough money to open its own business in the European Union. Some EU countries introduced the condition for the payment of the registered capital when registering a European company. But there are countries, for example Slovakia, where the starting capital is relatively modest (starting from 5,000 euros for a freelance company).
Another difficulty is getting to know the bureaucracy, with all the forms, rules, laws and procedures throughout the European Union that accompany every transaction. Here you can get help from our company - we help clients open an independent business in Slovakia. Many of our clients will testify that such help may be critical, for example, in obtaining business licenses and business permits. In short, in order to be able to establish a business in Europe, you must know the requirements for foreigners conducting business activities: there are the most common licenses and permits that all businesses need and without their registration, you may get into trouble with the law.
In conclusion, whether you want to open a limited company or an exempt or freelancer in one of the European Union countries, we recommend that you, first, check which country gives you the best conditions, and secondly, act through professionals who know all the rules and laws well and can help you in everything. We at Rstate will be happy to help!
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