If you're looking for an opportunity to move abroad, consider whether you have the potential of an entrepreneur or already own a business. If so, your chances for a new life are quite high, as entrepreneurs (including young startup founders and small business owners) are valued worldwide. You create jobs for yourself and others, pay your own taxes, and positively impact the economy and society. Naturally, such immigrants are highly welcome, and many countries offer special programs for those looking to start or move their business abroad.
Let's clarify an important point right away. All countries have several similar requirements for business immigrants: sufficient funds for initial living expenses, rented or purchased housing, a clean criminal record, and legally-sourced funds for business financing.
We present the top 10 most popular and comfortable European countries for business owners, where we compare countries based on the same criteria.
Portugal
Business opening requirements: authorized capital from €1 to €50,000 depending on the type of company + detailed business plan + at least two founders
Residency permit option: Yes, valid for 1 year (for the applicant's entire family) with subsequent renewal; citizenship is possible after 5 years
Sectors of business: in-demand industries in a specific region of the country, especially agriculture, logistics, transportation, and technology.
Taxes: corporate income tax: 21%, VAT: 6-23%, income tax: progressive, 14-28%
Difficulty: Low
Rejection rate: Low
Both residents and foreigners can open a company in Portugal, and it's easy as pie, and it takes just a couple of days. This country has a friendly attitude toward business and relatively low taxes; the main thing is to prove the company's potential profitability and success. For example, the island of Madeira has a special tax regime with reduced rates (VAT - 6%, corporate income tax - 5%).
The only potential complication is that you must cover all company expenses yourself if it doesn't immediately turn a profit. Purchasing an existing company will also allow you to obtain a residence permit. Most importantly, the company you're purchasing must have no outstanding taxes or salary arrears.
Estonia
Business requirements: minimum authorized capital of €2,500 + detailed business plan + further investment in your company of approximately €16,000
Residence permit option: Yes, valid for 1 year (for the applicant's entire family) with subsequent renewal; permanent residence is possible after 5 years
Business sectors: in-demand, primarily IT and technology
Taxes: 0% profit tax, 20% VAT (for companies with annual turnover exceeding €40,000), 20% income tax
Difficulty: Low
Rejection rate: Low
The most successful of all post-Soviet countries today has a reputation as Europe's Silicon Valley, which is why Estonia is eager for businesses related to high technology, IT, artificial intelligence, and other tech industries. A foreigner can open a company online in 10 minutes, but to qualify for a residence permit, the company must be registered in the country for at least six months. Therefore, you will first need to apply for e-residence. This program allows applicants to obtain electronic resident status, obtain an electronic digital signature, open a bank account, and register a legal entity. This convenient system allows you to manage your business remotely—conduct transactions and pay taxes—and after six months, you can apply for an entrepreneurial residence permit.
Estonia is considered one of the most prosperous and convenient countries for doing business—electronic government systems (taxes, document management, auditing, reporting) allow you to complete all your business matters online in just two clicks.
Hungary
Business opening requirements: minimum authorized capital of €2,500 (preferably more) + detailed business plan
Residence permit option: Yes, valid for 1 year (for the applicant's entire family) with subsequent renewal; permanent residence is possible after 3 years
Business sectors: in-demand: agriculture, forestry, metallurgy, transportation, finance (the chance of obtaining a residence permit is higher if the industry is considered a priority by the state)
Taxes: corporate income tax - 9%, VAT - 18-27%, income tax - 15%
Difficulty: low
Refusal rate: average
A major advantage of business immigration to Hungary is that there are no restrictions on foreigners opening a company (the only requirement is that the company must be registered with a Hungarian lawyer). There is also no obligation to create jobs for local residents. You can open a legal entity and simultaneously be its founder, director, and employee. The most important thing is that your company pays taxes reliably.
Hungary is considered a very attractive country for doing business, with its GDP growing by 5% annually, and the government regularly implementing market reforms and establishes a variety of programs for foreign investors and entrepreneurs.
Important: to register a company and subsequently obtain an entrepreneurial residence permit, you will need to rent or purchase a property in advance, which will serve as the company's legal address. You will also need to prove that you have a place and means to live. This will require a bank statement showing funds sufficient for a year of residence in the country, plus a long-term lease or purchase agreement.
Italy
Business requirements: minimum authorized capital of €20,000 (€50,000 for innovative startups) + detailed business plan + necessary experience in managing a similar business and relevant education
Residence Permit Eligibility: Yes, valid for 2 years (for the applicant's entire family) with subsequent renewal; permanent residence is possible after 5 years
Business Sectors: in-demand in a specific region of the country
Taxes: corporate income tax - 24%, VAT - 22%, income tax - progressive, 23-43%
Difficulty: Medium
Refusal Rate: Medium
The main difficulties in obtaining an entrepreneurial residence permit in Italy are that, firstly, you will need to prove that your business will be profitable and necessary for the chosen region, and secondly, you will need to meet a quota – only about 2,500 entrepreneurial residence permits are issued annually in Italy (with the exception of managers of branches and representative offices of foreign companies). The applicant must also undergo background checks and receive confirmation from the Italian consulate and Chamber of Commerce. However, the major advantages of business immigration to Italy are that you won't need to rent or purchase office space or appoint a resident director.
Italy is renowned for its favorable business climate and lower taxes than neighboring countries. In terms of minimum expenses, approximately €5,000-€6,000 will be spent on the relocation itself (tickets, initial accommodation, fees, etc.), and to apply for an immigrant visa (after which a residence permit is issued), you must have at least €20,000 in your account.
Belgium
Business opening requirements: minimum authorized capital of €18,000 (investment in your business project) + detailed business plan + qualifications required for the industry + business experience + at least two founders, one of whom must be a Belgian resident
Residence permit eligibility: Yes, valid for 1-2 years (for the applicant's entire family) with subsequent renewal; permanent residence is possible after 3 years
Business sectors: in-demand in the country, especially tourism, trade, beauty and health
Taxes: on profits - 25-30%, VAT 21%, income tax progressive 25-50%
Difficulty: Medium
Refusal Rate: Medium
Overall, Belgium is quite open to foreign entrepreneurs, and the entire company formation process takes 1-2 weeks. The only difficulty is having a resident of the country among the founders. However, the refusal rate for business residence permits in this country is quite low.
Furthermore, Belgium welcomes the launch of non-profit projects by foreigners (the residence permit will in any case be considered entrepreneurial). This country places great emphasis on human capital development, social issues, inclusivity, etc. If the project (e.g., a hobby school, a sports club, or a creative studio) benefits the country in a humanitarian sense, the chances of obtaining a residence permit are quite high. When registering a non-profit company, it must have three founders, but a share capital contribution is not required.
Greece
Business opening requirements: authorized capital of €4,500 (plus the applicant must have €60,000 in their account) + detailed business plan + required qualifications for the industry + the company must operate for 1 year and create at least one job for a resident before applying for a residence permit
Residency permit eligibility: Yes, valid for 2 years (for the applicant's entire family) with subsequent renewal; permanent residency is possible after 5 years.
Business sectors: in-demand in the country, especially agriculture, logistics, transportation, tourism, construction, and trade
Taxes: corporate income tax - 24%, VAT - 0-24%, income tax - progressive, 9-44%
Difficulty: High
Rejection rate: Low
Foreigners can register a company in Greece quite easily, in just one week. However, before applying for a residence permit on this basis, you must ensure the stable operation of your business for a year, employ at least one resident, and consistently pay all taxes.
There is also the option of investing more than €300,000 in a company to obtain a business visa. This visa allows you to immediately become a company director without involving Greek citizens.
Germany
Business opening requirements: minimum authorized capital of €25,000 + detailed business plan
Residence permit eligibility: Yes, valid for 1 year (for the applicant's entire family) with subsequent renewal; permanent residency is possible after 3 years
Business sectors: in demand in the relocation region
Taxes: corporate income tax at 30-45%, VAT at 19%, and progressive income tax at 19-53%
Difficulty: Medium
Rejection Rate: High
Business immigration to Germany is one of the most popular options among foreigners because the country with Europe's strongest economy has one major advantage: you can start a business and register a company even without a residence permit. The government also doesn't impose strict language requirements.
An important point: you need to decide in advance which region of the country you want to live and work in. Immigration and economic laws and regulations, for example, in Berlin and Munich, will differ significantly. Furthermore, different cities have different economic situations, so you may have to apply in several. If local officials believe your business will benefit the local economy, the decision to grant a residence permit will be positive. To reach this conclusion, you must have a clear and detailed business plan (which undergoes a separate review by the Chamber of Commerce and Industry), relevant education, and extensive work experience.
Spain
Business opening requirements: minimum authorized capital of €50,000 + detailed business plan + the need for an operating business upon application for a residence permit
Residence permit eligibility: Yes, valid for 2 years (for the applicant's entire family) with subsequent renewal; permanent residence is possible after 6 years
Business sectors: in-demand in the region of relocation, as well as innovative startups
Taxes: corporate income tax - 25%, VAT - 21%, income tax - progressive, 19-45%
Difficulty: High
Rejection rate: High
Each business project from a foreigner is carefully and thoroughly reviewed by the Spanish government. Additionally, you must have at least one employee who is a resident of Spain. This could be the director of your company, as you won't be able to obtain a residence permit without a functioning and tax-paying business. Five employees must be registered at the time of opening.
An alternative to business immigration is obtaining a residence permit as a financially independent person (if you have sufficient funds regularly deposited into your account from another country). After obtaining this status, you can open a company without such strict requirements. This option is advantageous because you don't have to register a company right away: you can calmly arrive, get acclimated, get a feel for the local environment, and only then, having studied the local infrastructure and mentality, register an LLC. This is important, as immigrants relocating for business purposes are forced to register a company immediately, while they themselves only physically move in a few months after registration. In this case, each month of company operation results in significant losses.
Switzerland
Business opening requirements: authorized capital of €18,000 for LLCs (CHF 20,000) + detailed business plan + required experience in the relevant field + director must be a Swiss resident
Residency permit: Yes, valid for 1 year (for the applicant's entire family) with subsequent renewal; permanent residence is possible after 10 years
Business sectors: in-demand in a specific region of the country
Taxes: corporate income tax - 10-25%, VAT - 8%, income tax - progressive, 0-11%
Difficulty: High
Refusal rate: High
Switzerland appears to be a very attractive country for business immigration precisely because of its low taxes. However, opening a company here is quite difficult for a foreigner – the registration refusal rate is very high if the government deems the business undesirable. It may be easier to buy an existing company (albeit expensive) or invest in an existing local business.
Furthermore, each canton (region) in Switzerland makes its own decision on issuing a residence permit, as each has a different number of annual quotas for these documents. Your business experience and education in the field your company will operate in are also very important.
One of the advantages of obtaining a Swiss residence permit is the speed of decision-making. If the application is successful and all requirements are met, a foreign entrepreneur receives a residence permit card in 2-3 months.
France
Business opening requirements: minimum authorized capital of €30,000 (investment in your business project) + detailed business plan + qualifications required for the industry
Residency permit availability: Yes, valid for 1 to 4 years (for the applicant's entire family) with subsequent renewal; permanent residency is possible after 5 years.
Business sectors: in demand in the country, especially tourism, trade, hotels and restaurants, and agriculture.
Taxes: corporate income tax: 15-33%, VAT: 20-33%, income tax: progressive, 0-45%
Difficulty: High
Refusal rate: High
The process of opening a company in France is generally straightforward, but the residence permit denial rate for this reason is quite high. Again, everything depends on the company's potential, so a good business plan is very important.
If you have extensive business experience and a solid education in the field in which your company will operate, you may be eligible for a residence permit under the "Passport Talent" program—a special opportunity for highly qualified specialists, businessmen, and investors that allows you to obtain a residence permit valid for four years at a time.
Another interesting feature of French business: after registering your company, you will be required to submit information about yourself and your company to state-owned media outlets, such as Le Monde.
Conclusion
Many European countries welcome businesspeople from other countries. Some countries, such as Italy, France, or Switzerland, have quite strict requirements, while others (Estonia, Hungary, and Belgium) are much more relaxed. The most important things are legal sources of funding for the business, sufficient resources for living expenses, and business experience.
Let's clarify an important point right away. All countries have several similar requirements for business immigrants: sufficient funds for initial living expenses, rented or purchased housing, a clean criminal record, and legally-sourced funds for business financing.
We present the top 10 most popular and comfortable European countries for business owners, where we compare countries based on the same criteria.
Portugal
Business opening requirements: authorized capital from €1 to €50,000 depending on the type of company + detailed business plan + at least two founders
Residency permit option: Yes, valid for 1 year (for the applicant's entire family) with subsequent renewal; citizenship is possible after 5 years
Sectors of business: in-demand industries in a specific region of the country, especially agriculture, logistics, transportation, and technology.
Taxes: corporate income tax: 21%, VAT: 6-23%, income tax: progressive, 14-28%
Difficulty: Low
Rejection rate: Low
Both residents and foreigners can open a company in Portugal, and it's easy as pie, and it takes just a couple of days. This country has a friendly attitude toward business and relatively low taxes; the main thing is to prove the company's potential profitability and success. For example, the island of Madeira has a special tax regime with reduced rates (VAT - 6%, corporate income tax - 5%).
The only potential complication is that you must cover all company expenses yourself if it doesn't immediately turn a profit. Purchasing an existing company will also allow you to obtain a residence permit. Most importantly, the company you're purchasing must have no outstanding taxes or salary arrears.
Estonia
Business requirements: minimum authorized capital of €2,500 + detailed business plan + further investment in your company of approximately €16,000
Residence permit option: Yes, valid for 1 year (for the applicant's entire family) with subsequent renewal; permanent residence is possible after 5 years
Business sectors: in-demand, primarily IT and technology
Taxes: 0% profit tax, 20% VAT (for companies with annual turnover exceeding €40,000), 20% income tax
Difficulty: Low
Rejection rate: Low
The most successful of all post-Soviet countries today has a reputation as Europe's Silicon Valley, which is why Estonia is eager for businesses related to high technology, IT, artificial intelligence, and other tech industries. A foreigner can open a company online in 10 minutes, but to qualify for a residence permit, the company must be registered in the country for at least six months. Therefore, you will first need to apply for e-residence. This program allows applicants to obtain electronic resident status, obtain an electronic digital signature, open a bank account, and register a legal entity. This convenient system allows you to manage your business remotely—conduct transactions and pay taxes—and after six months, you can apply for an entrepreneurial residence permit.
Estonia is considered one of the most prosperous and convenient countries for doing business—electronic government systems (taxes, document management, auditing, reporting) allow you to complete all your business matters online in just two clicks.
Hungary
Business opening requirements: minimum authorized capital of €2,500 (preferably more) + detailed business plan
Residence permit option: Yes, valid for 1 year (for the applicant's entire family) with subsequent renewal; permanent residence is possible after 3 years
Business sectors: in-demand: agriculture, forestry, metallurgy, transportation, finance (the chance of obtaining a residence permit is higher if the industry is considered a priority by the state)
Taxes: corporate income tax - 9%, VAT - 18-27%, income tax - 15%
Difficulty: low
Refusal rate: average
A major advantage of business immigration to Hungary is that there are no restrictions on foreigners opening a company (the only requirement is that the company must be registered with a Hungarian lawyer). There is also no obligation to create jobs for local residents. You can open a legal entity and simultaneously be its founder, director, and employee. The most important thing is that your company pays taxes reliably.
Hungary is considered a very attractive country for doing business, with its GDP growing by 5% annually, and the government regularly implementing market reforms and establishes a variety of programs for foreign investors and entrepreneurs.
Important: to register a company and subsequently obtain an entrepreneurial residence permit, you will need to rent or purchase a property in advance, which will serve as the company's legal address. You will also need to prove that you have a place and means to live. This will require a bank statement showing funds sufficient for a year of residence in the country, plus a long-term lease or purchase agreement.
Italy
Business requirements: minimum authorized capital of €20,000 (€50,000 for innovative startups) + detailed business plan + necessary experience in managing a similar business and relevant education
Residence Permit Eligibility: Yes, valid for 2 years (for the applicant's entire family) with subsequent renewal; permanent residence is possible after 5 years
Business Sectors: in-demand in a specific region of the country
Taxes: corporate income tax - 24%, VAT - 22%, income tax - progressive, 23-43%
Difficulty: Medium
Refusal Rate: Medium
The main difficulties in obtaining an entrepreneurial residence permit in Italy are that, firstly, you will need to prove that your business will be profitable and necessary for the chosen region, and secondly, you will need to meet a quota – only about 2,500 entrepreneurial residence permits are issued annually in Italy (with the exception of managers of branches and representative offices of foreign companies). The applicant must also undergo background checks and receive confirmation from the Italian consulate and Chamber of Commerce. However, the major advantages of business immigration to Italy are that you won't need to rent or purchase office space or appoint a resident director.
Italy is renowned for its favorable business climate and lower taxes than neighboring countries. In terms of minimum expenses, approximately €5,000-€6,000 will be spent on the relocation itself (tickets, initial accommodation, fees, etc.), and to apply for an immigrant visa (after which a residence permit is issued), you must have at least €20,000 in your account.
Belgium
Business opening requirements: minimum authorized capital of €18,000 (investment in your business project) + detailed business plan + qualifications required for the industry + business experience + at least two founders, one of whom must be a Belgian resident
Residence permit eligibility: Yes, valid for 1-2 years (for the applicant's entire family) with subsequent renewal; permanent residence is possible after 3 years
Business sectors: in-demand in the country, especially tourism, trade, beauty and health
Taxes: on profits - 25-30%, VAT 21%, income tax progressive 25-50%
Difficulty: Medium
Refusal Rate: Medium
Overall, Belgium is quite open to foreign entrepreneurs, and the entire company formation process takes 1-2 weeks. The only difficulty is having a resident of the country among the founders. However, the refusal rate for business residence permits in this country is quite low.
Furthermore, Belgium welcomes the launch of non-profit projects by foreigners (the residence permit will in any case be considered entrepreneurial). This country places great emphasis on human capital development, social issues, inclusivity, etc. If the project (e.g., a hobby school, a sports club, or a creative studio) benefits the country in a humanitarian sense, the chances of obtaining a residence permit are quite high. When registering a non-profit company, it must have three founders, but a share capital contribution is not required.
Greece
Business opening requirements: authorized capital of €4,500 (plus the applicant must have €60,000 in their account) + detailed business plan + required qualifications for the industry + the company must operate for 1 year and create at least one job for a resident before applying for a residence permit
Residency permit eligibility: Yes, valid for 2 years (for the applicant's entire family) with subsequent renewal; permanent residency is possible after 5 years.
Business sectors: in-demand in the country, especially agriculture, logistics, transportation, tourism, construction, and trade
Taxes: corporate income tax - 24%, VAT - 0-24%, income tax - progressive, 9-44%
Difficulty: High
Rejection rate: Low
Foreigners can register a company in Greece quite easily, in just one week. However, before applying for a residence permit on this basis, you must ensure the stable operation of your business for a year, employ at least one resident, and consistently pay all taxes.
There is also the option of investing more than €300,000 in a company to obtain a business visa. This visa allows you to immediately become a company director without involving Greek citizens.
Germany
Business opening requirements: minimum authorized capital of €25,000 + detailed business plan
Residence permit eligibility: Yes, valid for 1 year (for the applicant's entire family) with subsequent renewal; permanent residency is possible after 3 years
Business sectors: in demand in the relocation region
Taxes: corporate income tax at 30-45%, VAT at 19%, and progressive income tax at 19-53%
Difficulty: Medium
Rejection Rate: High
Business immigration to Germany is one of the most popular options among foreigners because the country with Europe's strongest economy has one major advantage: you can start a business and register a company even without a residence permit. The government also doesn't impose strict language requirements.
An important point: you need to decide in advance which region of the country you want to live and work in. Immigration and economic laws and regulations, for example, in Berlin and Munich, will differ significantly. Furthermore, different cities have different economic situations, so you may have to apply in several. If local officials believe your business will benefit the local economy, the decision to grant a residence permit will be positive. To reach this conclusion, you must have a clear and detailed business plan (which undergoes a separate review by the Chamber of Commerce and Industry), relevant education, and extensive work experience.
Spain
Business opening requirements: minimum authorized capital of €50,000 + detailed business plan + the need for an operating business upon application for a residence permit
Residence permit eligibility: Yes, valid for 2 years (for the applicant's entire family) with subsequent renewal; permanent residence is possible after 6 years
Business sectors: in-demand in the region of relocation, as well as innovative startups
Taxes: corporate income tax - 25%, VAT - 21%, income tax - progressive, 19-45%
Difficulty: High
Rejection rate: High
Each business project from a foreigner is carefully and thoroughly reviewed by the Spanish government. Additionally, you must have at least one employee who is a resident of Spain. This could be the director of your company, as you won't be able to obtain a residence permit without a functioning and tax-paying business. Five employees must be registered at the time of opening.
An alternative to business immigration is obtaining a residence permit as a financially independent person (if you have sufficient funds regularly deposited into your account from another country). After obtaining this status, you can open a company without such strict requirements. This option is advantageous because you don't have to register a company right away: you can calmly arrive, get acclimated, get a feel for the local environment, and only then, having studied the local infrastructure and mentality, register an LLC. This is important, as immigrants relocating for business purposes are forced to register a company immediately, while they themselves only physically move in a few months after registration. In this case, each month of company operation results in significant losses.
Switzerland
Business opening requirements: authorized capital of €18,000 for LLCs (CHF 20,000) + detailed business plan + required experience in the relevant field + director must be a Swiss resident
Residency permit: Yes, valid for 1 year (for the applicant's entire family) with subsequent renewal; permanent residence is possible after 10 years
Business sectors: in-demand in a specific region of the country
Taxes: corporate income tax - 10-25%, VAT - 8%, income tax - progressive, 0-11%
Difficulty: High
Refusal rate: High
Switzerland appears to be a very attractive country for business immigration precisely because of its low taxes. However, opening a company here is quite difficult for a foreigner – the registration refusal rate is very high if the government deems the business undesirable. It may be easier to buy an existing company (albeit expensive) or invest in an existing local business.
Furthermore, each canton (region) in Switzerland makes its own decision on issuing a residence permit, as each has a different number of annual quotas for these documents. Your business experience and education in the field your company will operate in are also very important.
One of the advantages of obtaining a Swiss residence permit is the speed of decision-making. If the application is successful and all requirements are met, a foreign entrepreneur receives a residence permit card in 2-3 months.
France
Business opening requirements: minimum authorized capital of €30,000 (investment in your business project) + detailed business plan + qualifications required for the industry
Residency permit availability: Yes, valid for 1 to 4 years (for the applicant's entire family) with subsequent renewal; permanent residency is possible after 5 years.
Business sectors: in demand in the country, especially tourism, trade, hotels and restaurants, and agriculture.
Taxes: corporate income tax: 15-33%, VAT: 20-33%, income tax: progressive, 0-45%
Difficulty: High
Refusal rate: High
The process of opening a company in France is generally straightforward, but the residence permit denial rate for this reason is quite high. Again, everything depends on the company's potential, so a good business plan is very important.
If you have extensive business experience and a solid education in the field in which your company will operate, you may be eligible for a residence permit under the "Passport Talent" program—a special opportunity for highly qualified specialists, businessmen, and investors that allows you to obtain a residence permit valid for four years at a time.
Another interesting feature of French business: after registering your company, you will be required to submit information about yourself and your company to state-owned media outlets, such as Le Monde.
Conclusion
Many European countries welcome businesspeople from other countries. Some countries, such as Italy, France, or Switzerland, have quite strict requirements, while others (Estonia, Hungary, and Belgium) are much more relaxed. The most important things are legal sources of funding for the business, sufficient resources for living expenses, and business experience.
If you're planning to obtain a residence permit, invest in a country's economy, or purchase foreign real estate, we invite you to a consultation with our company. During a personal online meeting, we'll discuss your questions in detail and create a step-by-step action plan for you.