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Global economies are just starting to recover from the pandemic and the havoc it wreaked on countless businesses. As you see people rebuild and restart their lives, you might have found yourself wondering if the current situation doesn’t put you in the ideal position to relocate.
Think about it – all your employees are either fully or partially remote, and you’ll have to start again from scratch when it comes to a lot of things like learning how to navigate vaccinations, and your HR is probably already working overtime. If your office building hasn’t been in use for a while, maybe it’s time to consider not changing that any time soon.
Countless countries all over the world probably offer better conditions, tax regulations, and rules in which your business can flourish. Maybe it’ll save you money in the long term if you moved your business to one of them? If you want to know more about what countries you need to consider for this move, keep reading. We have a lot of advice lined up for you.
Things to Consider Before You Make the Choice
When you started your business, you probably had countless logistics to deal with. Well, you’ll need to deal with a lot more of that in the next few months if you plan on making this move happen. Here are some of the most important things to consider when looking at relocation options:
- The Visa Requirements and Policies: This isn’t business-related, but we’re assuming you’ll need to move with your business as well. Especially for internet entrepreneurs, or if you’re moving your business there while keeping some (or most) of your operations online or in your home country, you need to check out how easy it will be for you to move your business to the new country, or if they’ll have you jumping through multiple hoops.
- Talk to an Expert: A lot of things about your business relocation are best known to the experts, and you may need to talk to immigration officers or people who handle visas and travel for most of your questions. Express Entry PR, migrate to Canada from India is just one of the many places that provide migration services, for example.
- Tax Regulations: You don’t want to move anywhere the tax is even higher than where you already are.
- Your Business Network: It would be an oversight to ignore the importance of a good professional circle to your business. Make sure you’ll still know people there or be able to establish professional relationships with other similar businesses and professionals in the area.
Now that we have most of our priorities straight, let’s talk about the countries you can move your business to.
1. Andorra
This may not be a country you’ve heard of before, but with tax rates that barely ever cross 10%, great views and a great standard of living, it might be worth it to consider this country for your business. The tax rates are even lower if you’re running a business located outside of Andorra, and gaining residence is pretty easy thanks to this thing called “Compete propi”.
With its help, you can declare yourself as employed under your own company.
2. Bali, Indonesia
With a low cost of living and easing immigration restrictions thanks to the pandemic, Bali is looking like a pretty good place to move your business to. You’ll never run out of customers or clients for your new business in this place, and neither will there be a shortage of networking opportunities thanks to all of the other expats living there.
3. Panama
Panama’s tax laws will mean that you might not have to pay any for any income you earn outside of Panama, and it’s fairly easy to get residence there for yourself and any employees that you’d take with you.
The cost of living is pretty low, and the time zones will mean you’ll have no problem working with any employees or customers you have in America.
4. Singapore
The EntrePass visa in Singapore is one especially created for entrepreneurs to move there with their business or to start new ones in the country. It’s business-positive environment, modern infrastructure, and political stability make it one of the best options for your business. The cost of living in the country might be high, but it’s well worth it in our opinion.
You may also like: Business Laws, Removals Company Tips, and Other Things You Need To Know When Moving Your London Office Abroad
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