European countries are attractive not only for their high standard of living but also for the conditions for doing business, as well as for the possibility of transferring capital to safe economic zones. The main advantage of business immigration to the EU is the stability of the economy in almost any of its countries and the existence of countries with a minimum level of taxation.
What are the requirements of European countries for immigrants?
The conditions for obtaining a residence permit after registering a business are different in each state. You need to follow a few regulations down below.
- Legal income and share capital. The amounts vary in different countries, but the money must be confirmed.
- Your company must employ a certain number (most often 10-12 people) of citizens of the country where you register it.
- You must have no criminal record, and your official business reputation must not have black spots (including entry bans).
Which country is suitable for business immigration?
The question is which country is the best to transfer your business to or where is it more profitable to open it from scratch. Business immigration to Italy is quite popular.
The economies of Germany, France, Denmark, Norway, and Sweden are certainly attractive for investment. However, the issuance of residence permit statuses in them is strictly quoting, therefore, even if you have a large amount and the mood to receive official status, you may be denied without explanation.
At the same time, some countries have developed special programs to attract business investors and offer to obtain a residence permit in a short time and according to a simplified scheme.
How to do business in Hungary?
You can register a company in Hungary after obtaining a one-time visa. Among the prerequisites is the name of the company must be in Hungarian. Certified financial statements and documents confirming the income that the company brings to customers are also required.
Hungary has an acceptable taxation system that attracts many businessmen from other countries. For example, there is no capital tax.
Income tax is:
- 10% with a profit of fewer than 500 million forints (about 1.6 million euros);
- 19% for profits over the specified amount.
- Let’s pay attention to other features of Hungarian taxation.
- The capital gains tax rate is generally 16%.
- VAT is an average of 27%, but the rate can be reduced by 5 and 18%.
- Construction tax and land tax are imposed depending on the decisions of the municipality.
It is extremely important to submit your tax returns by May 20 of the next tax year. Otherwise, you will face fines of up to 50% and a penalty.
Business immigration to Spain
In accordance with the Spanish Law on the Support of Entrepreneurship, the Spanish government regulates the amount of investment in the economy in case you decide to start a business here. You will be given a residence permit only if you invest at least 1 million euros. The authorized capital must be at least 3100 euros.
The Spanish government needs you to comply with national laws, and standards, pay taxes and create jobs for the local population (at least 2 to 10, depending on the type of business). After two years, you will have to confirm the solvency of your company in order to renew the residence permit status.
What business to open in Spain? There is a thriving real estate business in tourist areas, so experts advise investing and running your own business in the tourism sector.
How to start a business in Greece?
Now the Greek economy is in need of active investment, so last year the number of refusals to investors is minimal. To obtain a residence permit, you must invest in the company at least 300 thousand euros. You can sponsor a Greek project, partner with local businessmen, or start your own business from scratch. The authorized capital of a private enterprise here can be equal to 60 thousand euros.
After 2 years, the residence permit is extended if the company generates income and has a positive effect on the national economy. You will have to go through a check – this is a necessary measure by which Greece protects itself from fraudsters.
Business in Portugal
To obtain a residence permit in 2 months by opening a business in Portugal, you can create an enterprise with 10 or more jobs for Portuguese citizens. The minimum authorized capital is 5 thousand euros. When registering a company, you get 10 years of tax holidays. However, during this period you need to live in the country.
You will receive a permanent residence permit after 5 years of economic activity under Portuguese law.
Business immigration to Switzerland
Switzerland, which is known all over the world as one of the most reliable countries for capital investments, offers quite attractive conditions for businessmen. Here you can obtain a residence permit in just 3 months by investing at least 1 million euros in the real sector of the economy.
However, it should be borne in mind that the Swiss authorities are extremely careful in the selection of investors, since the country, in principle, does not really need investments from outside. Your business proposal should be of interest to the authorities of the canton where you want to start your business. And investments should work for the economic development of the canton.
Business immigration to Austria
Obtaining an Austrian residence permit is also quite possible. This requires your appointment to a key position in one of the companies in Austria. In this case, you can even be the owner of the company, as long as the ownership rights are not exercised directly.
At the same time, a spouse and children under 18 can be included in the application for a residence permit.
Business immigration to the UK
In this country, you will not be able to obtain a residence permit by opening an enterprise and investing a certain amount in the authorized capital. The only way is to buy shares in companies or companies as a whole. Significant “but”: companies must be registered exclusively in the UK and be UK residents.
Many EU countries are interested in providing foreigners with residence permit status in exchange for creating an efficient enterprise that will pay taxes to the state budget and create jobs for local citizens. Business in Europe is an opportunity to work on European terms and keep capital in reliable banks, without fear that tomorrow the national economy may collapse along with your enterprise.