Every year over USD 1 trillion is distributed worldwide in the form of foreign direct investment. Investments by foreign investors and entrepreneurs are of significant value to the country and are seen as a sign of a healthy economic, political and legal environment. When it comes to investing your money, some countries are simply better than others. It depends on numerous factors such as the country's overall economy and growth prospects, political stability, taxation and the overall legal system, the complexity of starting a business, opening an account and the workforce.
In this article, we summarize three jurisdictions in terms of benefits and other features crucial to foreign investors. These countries have already proven their ability to attract multinationals and other investments, but when it comes to choosing the right place to invest, each country is different and might be better than others in one or more factors.
Singapore The first country to be analyzed is Singapore, which ranks 2nd among the best countries for investment and 15th among the best countries in the world in the US News Best Countries Ranking developed in cooperation with its international partners.
Located in Southeast Asia, Singapore is a bustling metropolis and home to one of the busiest ports in the world. As one of Asia's four economic tigers, the country has experienced impressive growth in recent years thanks to efficient production and manufacturing processes and innovations in the pharmaceutical and electronics industries. High GDP per capita and low unemployment make Singapore one of the wealthiest countries in the world.
Hong Kong Hong Kong is a special administrative region of China. While Hong Kong is often considered as a separate entity from China, it is not a country and therefore enters all lists and rankings under the name of China. China takes 26th place among best countries to invest in and 20th place among best countries in general.
Hong Kong’s legal system is characterised by the strict adherence to principles and the rule of law. It operates a free trade economic system and promotes minimal government interference in most sections of the economy. This reflects on the small number of tariffs and duties on traded goods and therefore it is a better place for investments than other parts of China. Foreign investments are attracted by promoting a favourable investment climate with low taxes, few restrictions and additional incentives to encourage investments. Corporate profits tax rate is 16.5% with a possibility to waive 75% of the tax. There is no tax levied on dividends. Company incorporation is a simple and fast-forward process. All applications for company incorporation also include an application for the business registry. The application can be submitted online and the processing generally takes one hour (as opposed to four days if the application is submitted in hard copy).
Due to its impressive growth and increasing immigration, Singapore attracts the best professionals to its workforce. The country offers cultural diversity and, with four official languages, is an important gateway for international trade. The corporate tax rate is 17%, but it can be reduced by taking advantage of numerous government subsidies, incentives, and other programs. Singapore's legal system is known for its integrity, efficiency and fairness, making the country better than many as a place to start and operate a business. The World Bank Group has recognized Singapore's political and regulatory environment as the most business-friendly in the world. Other factors: Least Corrupt Country in Asia; Best IP protection in Asia; Most popular country for arbitration in Asia.
United Arab Emirates The United Arab Emirates or UAE is listed as the 22nd best country in the world and is not mentioned among the best countries for investment according to the above ranking.
Before the discovery of oil in the mid-20th century, the UAE's economy was mainly based on fishing and the pearling industry. The country experienced rapid growth and general transformation along with the start of oil exports in the 1960s. Today the country's GDP can be compared to that of leading European countries and the World Economic Forum has named the UAE the most competitive place in the Arab world.
When incorporating a company in the United Arab Emirates, foreign investors can choose between offshore or onshore registration, whichever is more suitable for the type of company and the activities planned. Onshore registration means that the investor establishes a business presence on the UAE mainland. Offshore registration usually refers to a business presence in one of the UAE's free trade zones. The UAE does not levy corporate income tax at the federal level. However, most Emirates have some corporate income taxation and can even reach 55% for certain industries. In practice, corporate income tax is mainly levied on gas and oil companies and branches of foreign banks. Other factors: The UAE is among the most liberal places in the Gulf with a legal system that allows freedom of religion; No sales tax or VAT but with plans to introduce it in the future; In addition to traditional banking, Islamic (or Sharia-compliant) banking has seen tremendous growth in recent times.
A registered office is an official address of any legal entity, which gets assigned by every entrepreneur during the establishment process. It may also be called legal address, legal seat or domicile. Along with a registration number, a registered office is an obligatory attribute for any type of legal entity, thus composing the necessary public records in most of the jurisdictions.
The purpose of the legal address is to be reached by the government institutions and to receive official correspondence there. A registered physical office is required to receive official correspondence from tax authorities, banks, partners, customers, shareholders, etc. However, registered office doesn’t necessarily come with correspondence box. Thus, the entrepreneurs must make sure that their correspondence will reach them, when it is necessary.
Legal address requirements The registered address must be located in the same country, where the company is incorporated. The documents, which confirm your registered address, are: Articles of Incorporation for the most type of companies or Partnership Agreement for the most type of partnerships. In most of the jurisdictions you will not be allowed to use a PO Box as a company’s registered office, because it must be an actual and publicly available address. You can use it only in cases, when it is attached to the full address, with house number and postcode.
If it is necessary, the address of the registered office can be changed by the director or other officer in control of the company according to the corporate documents. Make sure that you receive a properly performed confirmation of such amendment (Protocol or Minutes) in order to present it upon request of your bank, auditor, partners, etc.
Renting a legal address You can always choose to have a rental service of your registered address, or in other words – to use a third-party address. There are many benefits of renting a legal address. Firstly, it provides you privacy by shielding sensitive information of your private home address. Secondly, it is a cost saving option, when you do not have to rent an actual office space, especially in a foreign country.
When choosing a registered address for your company, several aspects must be taken into consideration. For example, an actual rental contract may be required for tax authorities in some countries (Latvia, Lithuania). Or, some addresses are heavily overused or even black-listed by banks or tax authorities. You might want to look up the information provided on Google Maps on the location of your legal address and scan some articles on the internet that are associated with the address you are offered.
A registered office is an official address of any legal entity, which gets assigned by every entrepreneur during the establishment process. It may also be called legal address, legal seat or domicile. Along with a registration number, a registered office is an obligatory attribute for any type of legal entity, thus composing the necessary public records in most of the jurisdictions.
The purpose of the legal address is to be reached by the government institutions and to receive official correspondence there. A registered physical office is required to receive official correspondence from tax authorities, banks, partners, customers, shareholders, etc. However, registered office doesn’t necessarily come with correspondence box. Thus, the entrepreneurs must make sure that their correspondence will reach them, when it is necessary.
Legal address requirements The registered address must be located in the same country, where the company is incorporated. The documents, which confirm your registered address, are: Articles of Incorporation for the most type of companies or Partnership Agreement for the most type of partnerships. In most of the jurisdictions you will not be allowed to use a PO Box as a company’s registered office, because it must be an actual and publicly available address. You can use it only in cases, when it is attached to the full address, with house number and postcode.
If it is necessary, the address of the registered office can be changed by the director or other officer in control of the company according to the corporate documents. Make sure that you receive a properly performed confirmation of such amendment (Protocol or Minutes) in order to present it upon request of your bank, auditor, partners, etc.
Renting a legal address You can always choose to have a rental service of your registered address, or in other words – to use a third-party address. There are many benefits of renting a legal address. Firstly, it provides you privacy by shielding sensitive information of your private home address. Secondly, it is a cost saving option, when you do not have to rent an actual office space, especially in a foreign country.
When choosing a registered address for your company, several aspects must be taken into consideration. For example, an actual rental contract may be required for tax authorities in some countries (Latvia, Lithuania). Or, some addresses are heavily overused or even black-listed by banks or tax authorities. You might want to look up the information provided on Google Maps on the location of your legal address and scan some articles on the internet that are associated with the address you are offered.
In general, the tax system in France is determined by the votes of the French Parliament, which determine the types of taxes that can be levied and the tax rates that can be applied. Taxes are then collected by the central government, local governments and the Social Security Association (ASSO). All persons who are resident in France for tax purposes are subject to French tax, whether they are individuals or legal entities, whether they live in France or only have their domicile, principal residence, place of work or economic interest in France - they all become so treated taxable. In addition, a person who is a tax resident of France, regardless of nationality, is also taxable on their worldwide income.
There are different types of taxes in the country such as B. Production and import taxes, Value Added Tax or Value Added Tax which is a consumption tax applicable to goods and services located in France, Taxes on petroleum products, Taxes on wealth including local property taxes on real estate, Capital gains taxes applicable on disposal of assets are payable, taxes on the sale of buildings (in addition to local taxes), inheritance, gift, transfer of business and registration of vehicles (total tax should not exceed 75% of income), as well as inheritance and gift taxes applicable to gifts and inheritances attack.
Income taxation in France Income taxes in France include corporate tax, income tax for individuals, tax for social purposes which is a calculated tax on all income available to individuals in a year and is a subject to industrial and commercial profits, land income, non-commercial and agricultural profits, salaries/wages, pensions/annuities, movable income, capital gains. These taxes are usually payable in the year after the income is earned by filing a French tax declaration stating the total taxable income received. The declaration should be filed by the normal filing deadline.
Personal income tax Applies to all the incomes gained during any individual business activity in the country. However, those tax payers whose personal net income does not exceed €7,920 are exempted from the income taxation. It is calculated in accordance with the total income of the household which is equally distributed between each member of the household.
Corporate income tax This type includes annual tax made by corporations and other commercial entities and can be applied to approximately 1/3 of French companies with a standard rate of 33.3% and generally based on company’s turnover.
Capital gain tax Capital gain tax needs to be paid on the sale of land, buildings, and shares. It includes 19% capital gains tax and a 15.5% social charge which is 34.5% in total. In addition, there is also a supplementary tax on large gains. It comprises 5 different French tax rates depending on the amount of profit gained.
Residence tax This tax applies to all buildings which have such extras as gardens, garages, private car parks etc. needs to be paid by any person who has a residential unit at his or her disposal.
Land tax The property tax on built lands is applied to properties built in France. The taxable properties consist of all permanent constructions, i.e. buildings (blocks of flats, houses, workshops, warehouses, etc.). The tax base is equal to 50% of the notional rental value of the building (i.e. the value set by the tax administration) and on land/location value. There are many exemptions and exceptions. In 2005, the product amounted to €17.73 bn.
Professional tax This tax concerns people who are self-employed in France which amount is calculated by multiplying the taxable net by the rates approved by each local beneficiaries (communities and organizations) within limits set by national legislation.
A serviced office space is an office that is provided and equipped by a facility management company. The services provided may vary by provider but generally include specialized office space (conference rooms, workrooms, etc.), utilities, IT infrastructure and various office equipment.
In general, serviced offices aim to provide all necessary business facilities in one bundle and in a ready-to-use state, eliminating the need for preparation and set-up procedures. Depending on the provider, a serviced office can be rented at different payment and equipment conditions:
Facilities and equipment can be rented together for a fixed payment that covers most of the facilities and services, or each item can be rented separately, giving more flexible pricing policy All equipment can be leased to a single company for the exclusive use of the company's employees, or it can be used in a common space shared by other companies renting serviced office space in the same business center
Serviced office advantages Serviced office advantages are numerous and can be roughly divided into the following categories:
Denmark has a corporate tax rate of 22%. Companies that operate under VAT have to pay tax on purchases at 25%. Certain services, like those related to newspapers and journals (published more than once a month), intra-community and international transport, and others, benefit from a 0% VAT rate.
In the context of EU intellectual property, a trademark is a sign that identifies a company. It allows one brand to be distinguished from another, or more specifically, to distinguish one company's products or services from another company's products or services.
In fact, any distinctive sign can be considered a trademark: it can be a word, a design, a logo, and even a specific shape, color, or sound. In particular, a registered trademark is a legally protected sign and property right. Any sign that can characterize the company can be registered and become the trademark of the company. Because of this, a trademark is a different legal term than a trademark, which is often used in marketing studies. One can say that one protects a trademark if one wants to register a trademark. Any consumer who knows a company has an idea of its products and services, as well as a general idea of the company as a whole. This idea is the brand.
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18.05.2024 12:01