Start A Company In Europe And Enjoy These 4 Benefits
Business owners in different industries will find different benefits in opening a company in Europe. It may be of paramount importance to some to have access to Poland or Portugal, two geographically important trade routes. Some businesses benefit so much from paying 0% corporate tax during their first three years as incorporated companies move to Ireland because of this incentive.
Moreover, some non-resident business owners may regard Sweden as a more attractive investment destination due to the relatively light regulation of foreign ownership and business management, where profits can be circulated abroad tax-free. Nevertheless, foreign business owners are generally attracted to European company formation because of these four main benefits.
According to the Accountancy Act in Hungary, accountancy requirements and auditing activities are regulated in accordance with EU accounting principles.The Accountancy Act describes reporting and bookkeeping obligations falling within its scope along with the applicable principles.
The requirements company formation Hungary related to preparing reports and keeping accounting records, as well as the requirements connected to publishing and disclosing reports, and audit requirements.
Attitude Of Tax-Friendliness
In order to increase investment and boost the economy of their countries, many EU countries offer non-resident companies much more tax-friendly status than their own resident corporations. The EU countries Romania and Ireland, which both offer a flat tax rate below 4%, are among the countries that offer these tax cuts upon meeting certain criteria. Additionally, Hungary offers you the opportunity to have a VAT registered company up and running in less than 24 hours.
Routing Routes For Trade
Europe is well known for its centuries-old trade routes that have made opening a business in Europe a feasible option. Thru the Trade Winds, and their perfect positioning to exploit them, Spain and Portugal were world economic superpowers during the 19th century. Despite its lack of popularity anymore, Portugal and Spain provide an enviable link between North America and Europe.
Non-Residential Ownership
The biggest advantage of starting a European company is the ease of doing business there. A non-resident may be listed as the owner on a company’s incorporation document in many EU countries. No nominee directors or owners will be required in this case. There can be no overestimation of what it means to own 100% of your business, which makes this a major benefit of incorporating in Europe available to business owners everywhere.
Protecting Your Assets
One of the advantages of setting up a European company is allowing you to form a Limited Liability Corporation (LLC). EU countries have different filing requirements for this type of business entity, and the name LLC may differ from jurisdiction to jurisdiction, but all LLCs restrict the business owner’s personal liability. LLCs can also come with other advantages depending on the country in which they are formed.
Although there are advantages to it, you should also be aware that it has pitfalls, so do make sure you seek expert advice and make sure those offering it are knowledgeable.
The four benefits above provide the biggest incentives for non-residents to incorporate in the EU. There are numerous other benefits to chartering a company in Europe, however. Consider hiring a seasoned European company formation professional today, and start taking advantage of the many diverse advantages of doing business there.