During the period of economic crisis or stagnation of some of the sectors of economy active and intelligent businessmen try to look around and find the ways to expand or relocate their business. They think not only in the scope of their own country, but also consider the possibilities to start their business abroad.

By all means, there is no statistics where and when it is better to start your company. Usually, it depends on your targets, abilities, motivation, business peculiarities. But there is a list of the factors that should be considered when deciding on the country for your future business. Let’s discuss them.

First of all, you have to have a clear idea what you want to do in a new country and why. You should realize, that you will have to work there legally and respect their laws in terms of taxes, payments, etc. you have to study the legislation of the chosen country and decide if you are able to meet all the requirements and of this business will be profitable at the end of the day.

Secondly, you should consider the level of economic development of the country and its stability. In this respect Europe and America will remain leaders still for a long time. I can’t but mention Australia, New Zealand and Canada which are also good places to do business and live.

Thirdly, the level of financial crimes in the country is of high importance. According to the data from PricewaterhouseCoopers, the lowest level is seen in Japan, Hong Kong and the Netherlands.

Another important factor is the presence of the obstacles for a foreigner to lead business in the given country. From this perspective, the European Union creates favorable conditions for the foreigners who want to have small or medium business in their countries. The most open countries for the foreign entrepreneurs are Germany, France and Spain. For example, in Germany small business creates 80% of working places in the country. In terms of bureaucracy, the USA is the most favorable place to open a new company. The company registration is executed online, so you don’t have to prepare piles of documents and get a list of permissions for that.

A favorable taxation law is another important factor to be considered. When thinking of business abroad, you should learn the law carefully and learn all the special legal points that may affect your business. Don’t forget that the law violation is severely punished in all the countries.

Don’t forget about the competition on the chosen market. You should assess your abilities carefully and decide if you will be able to survive there. In addition, cultural differences and a language barrier should not be neglected. Not all the people can easily adapt to a new country, new mentality and traditions.

To put it in a nutshell, one should consider various economic, legal, business and cultural factors before making the decision to open a company abroad. It this case, do follow the proverb, “Measure thrice and cut once.”