Best EU countries to live and set up a business in 2023
From the 20th century, a lot of people decided to relocate to another country, following their specific circumstances, preferences, family goals. Immigrants around the world are not just looking for a change of residence, but for better employment opportunities, business prospects, etc.
Europe and Asia have hosted about 87 and 86 million international migrants respectively, accounting for 61% of the total number of international migrants in the world. From 2000 to 2020, Europe received about 30 million international migrants. This means that states are offering their citizens a better work-life balance as well as better opportunities.
European Union – is an Alliance, which consists of 26 economically stable states. Immigrants, who decided to choose one of the countries for relocation know, that with its passport they will be able to visit over hundreds of countries without getting extra permission and obtain the same rights as the natives.
Below we will highlight the countries, which are on TOP of immigrants’ decision to relocate, and the main features of each, following the specific nuances of relocation.
TOP-5 EU countries for running a business
Setting up a business needs a deep analysis of not just the sphere, and its nuances, but also the country with the better opportunities for growing a business. Here are the most powerful countries amongst EU states for running a business:
The most important statistics:
- 19% - business tax rate;
- 1% of Gross National Income (GNI) per capita – country benefits prospective business owners with low startup costs;
- 37% - the percentage of economically active people, who are employed in the industries with the highest rating amongst European Union;
- 9% - self-employed ones (which is the most powerful in the whole EU).
The most popular fields concern transportation equipment, machinery manufacturing and engineering also the country is growing in services. Agriculture has a low level, so it would be a bad move if you want to develop your farming business. As for living here, people can easily spend around $1000. If you are moving as an employee, you should know that the average salary in the country is about $1,820.
The attractive tax environment is considered to be one of the main reasons why people choose Denmark to set up a business.
Denmark is a leader in cross-border trade category of business and in a low corruption. The country definitely should be proud of its innovative business environment, flexible labor market and favorable taxes. That is why the state is considered to be European center of innovation and technology
Moreover, Denmark is one of the easiest states in Europe to start a business in. It offers prospective entrepreneurs very low start-up costs at 0.2% of GNI per capita. If high earnings are top of your priorities, you should consider that country for relocation, as the average salary is $5,965, making it the highest in Europe.
- Service – 80%
- Manufacturing – 11%
- Agriculture – 2%
Finland is renowned for its innovative and technology-driven environment, that is why it can also be called as the country of gaming. The country also has a reputation for excellence in sectors such as technology, engineering, and innovation, making it an attractive destination for businesses seeking talented professionals. Economic stability, low cost of living, and a high level of foreign investment can be the key things in growing your own financial rate.
Several reasons why people decide to set up a business in Finland:
- Stable and Transparent Business Environment;
- Average salaries are about $4,550;
- Well-established legal system that upholds the rule of law;
- Finland offers a well-developed infrastructure, including reliable transportation networks, advanced telecommunications, and high-speed internet connection.
- The country has a strong network of incubators, accelerators, and business development organizations to assist entrepreneurs;
- It ranks high in quality-of-life indexes, offering a safe and clean environment, excellent healthcare, high educational standards, and a strong social safety net.
In the same vein, it would be great to admit, that women and men are considered equal, that makes the country popular destination amongst all the fighters for the equal rights.
How to describe Germany in a few words? Significant purchasing power, innovation center, dense transport network and the huge number of high-skilled workers. Germany has the largest economy in Europe and is one of the world's leading export nations.
In 2022 Germany was ranked as the state with the highest purchasing state, which means, that each startup will easily find the market here. Undeniably, the German business landscape boasts an impressive presence of 30 prominent companies featured in the prestigious DAX index. This elite selection comprises Germany's leading enterprises, whose performance is closely monitored within the realms of the Frankfurt Stock Exchange. The DAX stands as a testament to the country's economic prowess and serves as a benchmark for investors seeking unparalleled opportunities in the German market.
Germany has a diverse and thriving industrial base, encompassing sectors such as automotive, machinery, engineering, pharmaceuticals, and technology.
Leipzig, a vibrant city close to Berlin, is becoming an attractive location for start-ups and expansion in a variety of industries. Thanks to its unique combination of advantages, Leipzig beckons entrepreneurs with appealing business financing prospects and attractive tax incentives. The Region of Leipzig and the Free State of Saxony extend a helping hand to new and growing businesses with significant support, covering up to 30% of investment costs. Unleash the full potential of your company in Leipzig, where there are many opportunities.
The Netherlands is one of the best countries for business investment in the world, according to a recent report by the World Economic Forum Competitiveness Index in Europe.
- One of the highest incomes per capita in the EU;
- 2nd in the number of patent applications in Europe per one million inhabitants;
- 5th in the Global Innovation Index of 2022;
- 6th largest economy in the European Union;
- 7th spot for quality of life;
- The country has 4% of GNI per capita and suggests 25.8% business tax.
Country has a business-friendly climate, characterized by low bureaucracy, efficient regulations, and a supportive government. It is also a home to numerous startups, incubators, and accelerators, fostering collaboration, knowledge sharing, and access to investing in new enterprises. Strategically located in the heart of Europe, the country offers easy entrance to major markets in the EU, which can be significant for multinational business.
TOP-5 EU countries for living
Living conditions can be critical for people with a particular illness or a big number of family members. That is why, immigrants should compare the states in accordance just with their individual needs. Below you will find the countries, which appeared the most frequently on immigrants’ path. Those were estimated in such fields: quality of life, friendly society, career opportunities, crime rate, top-notch healthcare, stable economy, etc.
Denmark is known for its high level of happiness and life satisfaction. The Danish concept of "hygge" promotes a cozy and contented lifestyle, focusing on enjoying the simple pleasures of life. The welcoming and inclusive Danish culture contributes to a sense of belonging and happiness among residents.
Denmark is consistently ranked as one of the safest countries in the world. It has low crime rates and a well-functioning legal system, which contributes to a sense of safety and security for residents. The Danish society values trust, equality, and social cohesion.
It offers a strong social welfare system, excellent healthcare, and high educational standards. Also, the government cares about the work-life balance of the residents, thus suggests the limited 37 work hours for a week.
The country will be interesting for those who are into history as well. Denmark has a rich cultural heritage, from its Viking history to modern design and architecture.
Almost at all of the ratings, Sweden possesses the first spot as the best place for relocation permanently. Whether you are seeking a balanced lifestyle, career opportunities, or a welcoming and inclusive society, Sweden provides an ideal environment for living and thriving.
Main reasons to consider Sweden the best country for living:
- Strong focus on work-life balance;
- Well-functioning welfare system;
- High income level and a reasonable quality of life;
- Country prioritizes gender equality, LGBTQ+ rights, and inclusivity;
- Thriving and stable economy;
- The right to access nature is protected by the Swedish concept of "Allemansrätten”;
- Free education for UE/EEA citizens or Permanent Residents of Sweden;
- Family-oriented culture;
- Ecological environment (water and air quality).
Low lever of crime, top-notch healthcare, stable economy, a lot of opportunities to improving your own skeels are what made Switzerland one of the best in the EU for living.
The unemployment rate is extremely low. In comparison with the other European Union states, the country offers its inhabitants twice or even three times higher salaries. Huge number of multinational corporations, which found here the way to increasing their income can show us the real picture of prospectives of this land.
Switzerland consistently ranks among the top countries in terms of quality of life. It offers a clean and safe environment, excellent healthcare, high educational standards, and a well-maintained infrastructure. The Swiss value a healthy work-life balance, and the country is renowned for its beautiful landscapes, outdoor activities, and cultural richness.
Finland is considered to be one of the happiest countries in the world and is well-known for the quality of life. Its quality of life is acclaimed worldwide. It offers a well-functioning social welfare system, excellent healthcare, high educational standards, and a safe and clean environment. The Finnish society emphasizes equality, sustainability, and overall well-being.
Finland is known for its safety and stability. It has a low crime rate, transparent governance, and a strong rule of law. The Finnish society values equality, trust, and social cohesion, providing a secure environment for residents.
If we are talking about job opportunities, it is worth admitting such developing fields as telecommunications, gaming, and clean technology. Also, Finland has flexible working hours, generous parental leave policies, and a focus on employee well-being.
Finnish education system consistently occupies one of the first places in international education rankings. Finnish schools provide high quality education with a focus on creativity, critical thinking and practical skills.
The country has a vast territory, open employment opportunities, and can be convenient for foreigners who can only speak English. This place suits people who are into historical places, crowded cities, multination and parties. It is a really open-minded country, with multicultural traditions, which can be beneficial for young people, and those who have not decided which of the places they want to reside in. It does not even matter which job you already have. Groving economy, and high level of prospectives will present to you great opportunities in future.
Top-notch quality of life, great opportunities to set up your own business, ecological care from the side of government. All of those things make Germany the desired place to live in.
It does matter which EU-country you choose to relocate to. Depending on your goals, preferences, special needs of your family members or business development, the benefits offered by each EU country will vary.
In accordance with the analysis of the most popular fields for running business, we can highlight such EU-countries: Czech Republic, Finland, the Netherlands, Denmark and Germany. However, if we are talking about the perfect living conditions for most of the immigrants, this list will consist of Sweden, Denmark, Switzerland, Finland and Germany.