Best Countries for Business: A Globetrotter’s Honest Guide

I remember the day I tried to open my first business account in Italy. I showed up with a folder full of documents at 2:30 pm, only to find the bank closed until tomorrow. Siesta time. No exceptions.

After six hours of paperwork the next day, they told me I needed three more stamps from government offices that were only open on alternating Tuesdays.

That was my crash course in why location matters for business.

Since then, I have launched businesses in Singapore, Estonia, and Colombia. I have consulted with startups across four continents. And I have had my share of bureaucratic nightmares and surprising wins.

Let me save you some pain and share what I have learned about the best places to build a business in 2025, based on real experience not just theory.

What Actually Makes a Country Good for Business?

Before jumping into specific countries, let us talk about what really matters beyond the usual rankings.

The Tax Reality No One Talks About

People obsess over corporate tax rates. I get it. I did too.

But here is the truth: a 30% tax rate in a country where you can actually make money is better than a 0% tax rate in a place with no customers.

When I set up in Singapore, I paid more corporate tax than I would have in Estonia. But Singapore opened doors to the entire Asian market that more than made up for the difference.

What matters more than the headline rate:

• Clarity and stability of tax laws. In Georgia, tax laws changed three times in one year. My accountant basically lived at my office.
• Double taxation treaties. Malaysia’s extensive treaty network saved me thousands when repatriating profits.
• Enforcement reality vs written law. Colombia’s tax rate looked high on paper, but legitimate deductions brought the effective rate way down.
• Dividend taxation. Some low corporate tax countries hammer you when you take money out. I learned this lesson in Dubai.

When evaluating tax situations, look at the full picture from company formation to getting money into your personal account.

Ease of Doing Business in Real Life

World Bank rankings on ease of doing business are helpful but miss a lot of on the ground reality.

In New Zealand, I formed a company in 4 hours online. Amazing.

In Singapore, it took 24 hours but came with built in credibility that opened banking doors worldwide.

In Vietnam, the official process was 14 days. The actual process took 3 months and several “expediting fees.”

Beyond company formation, consider:

• Banking reality. Can foreigners easily open business accounts? Portugal took me 6 weeks. Estonia took 48 hours remotely.
• Payment processing. Indonesia has incredible growth but payments infrastructure that gave me nightmares.
• Contract enforcement. Canada’s courts efficiently resolved a contract dispute in 7 months. My Brazilian friend is on year three of a similar case.
• Hiring and firing flexibility. France’s labor protections meant I needed to be very sure before bringing someone on.

💡 Tip: Talk to at least three expat business owners in your target country before making decisions. Online research never reveals the unofficial workarounds and hidden roadblocks.

The Startup Ecosystem That Actually Matters

Startup hubs are not created equal. The specific support you need varies dramatically by business type and stage.

In Berlin, I found incredible technical talent but struggled to find early stage funding under €500K.

In San Francisco, funding was plentiful but engineer costs were 3x higher than Berlin.

In Tallinn, the government digital infrastructure saved me months of development time for my SaaS product.

Evaluate ecosystems based on:

• Talent pool specific to your needs. Singapore excels in fintech talent but lacks design creativity.
• Stage appropriate capital. Lisbon has great accelerators but limited Series A options.
• Founder support networks. Stockholm’s tight knit community saved my business during a cash crunch.
• Government incentives for your sector. South Korea offered me R&D matching that cut my development costs in half.

Remember that the “best” startup ecosystem depends entirely on what you are building.

Best Countries for Business in 2025: My Personal Rankings

Based on my experiences launching and scaling businesses across the globe, here are the countries that truly deliver for entrepreneurs and business leaders.

Singapore: The Gold Standard for Asian Business

Singapore has been my Asian business hub for six years, and despite the high cost, I cannot imagine a better launchpad for the region.

Why it works:

• Company formation in 24 hours with minimal bureaucracy
• Corporate tax rate of 17% with extensive exemptions for new businesses
• Unparalleled banking infrastructure with global recognition
• Strategic location accessing 4+ billion people within a 7 hour flight
• Strong legal system based on English common law
• Extensive government grants for innovation and hiring
• High quality of life that helps attract international talent

When I launched my fintech advisory firm, Singapore’s regulatory clarity gave clients immediate confidence. The Monetary Authority of Singapore provided a regulatory sandbox that would have taken years to navigate in Japan or Korea.

The reality check:

The cost of living and doing business is high. Office space runs at a premium. Work passes for foreign talent have become more selective. The small domestic market means you need to think regionally from day one.

Best for: Fintech, regional headquarters, enterprise SaaS, deep tech with IP concerns

Estonia: Digital Infrastructure That Changed My Business

Estonia’s digital infrastructure is not just good marketing. It fundamentally transformed how I operate globally.

Why it works:

• E-Residency program allowing company formation and management from anywhere
• Zero corporate tax on reinvested profits
• 100% digital business operations possible
• EU market access without Western European costs
• Forward thinking legislation for digital businesses
• Vibrant startup ecosystem with Skype and Wise alumni
• English widely spoken in business contexts

I run two subsidiaries through Estonia while living in Asia. All my banking, compliance, shareholder meetings, and tax filings happen digitally. When my Romanian competitor spent months on paperwork, I was already selling.

The reality check:

Banking has become more selective for non residents. The domestic market is tiny. Winter darkness can be challenging if you physically relocate. Finding senior talent locally can be difficult outside the tech sector.

Best for: Digital businesses, bootstrapped startups, remote teams, crypto/blockchain

United Arab Emirates: Low Tax Reality With Global Connections

The UAE, particularly Dubai, has evolved far beyond its oil reputation into a serious global business hub.

Why it works:

• 0% corporate and personal income tax for most business activities
• 100% foreign ownership now permitted across sectors
• Strategic location between Europe, Asia and Africa
• World class infrastructure and connectivity
• Straightforward company formation in free zones
• Large expatriate business community
• Impressive quality of life for attracting talent

When my client needed to build a trading operation connecting European sellers with Asian buyers, Dubai’s time zone, direct flights, and tax benefits made it unbeatable.

The reality check:

Setup costs in proper free zones are not cheap. Banking compliance has tightened significantly. Summer heat is brutal. Hiring top technical talent locally can be challenging. Free zone vs mainland setup considerations are complex.

Best for: International trading, regional headquarters, professional services, e-commerce operations

Canada: North American Access Without the US Complexity

Canada offered me American market proximity with significantly less legal complexity and more predictable immigration.

Why it works:

• Straightforward company formation processes
• Credible alternative for US market access
• Excellent startup visa program for entrepreneurs
• Strong banking system with international recognition
• Substantial R&D tax credits and grants
• High quality of life for attracting talent
• Diverse, well educated workforce

When my SaaS startup needed North American presence without US tax complexity, Toronto provided the perfect solution. The government’s Scientific Research and Experimental Development (SR&ED) program refunded 35% of my R&D costs.

The reality check:

Overall tax rates are not low (26 31% corporate tax depending on province). Winter in most cities is serious business. Cost of living in Vancouver and Toronto is extremely high. The domestic market alone is rarely sufficient for growth companies.

Best for: SaaS, cleantech, AI/ML ventures, North American market entry

Portugal: Europe’s Emerging Star

Portugal surprised me with its transformation into one of Europe’s most attractive business locations.

Why it works:

• Entrepreneur and digital nomad visas with clear paths to residency
• NHR (Non Habitual Resident) tax program with significant personal tax benefits
• EU market access with lower costs than Western European hubs
• Growing startup ecosystem centered in Lisbon and Porto
• Excellent quality of life at reasonable cost
• Increasing international connectivity
• English widely spoken in business and tech

I moved my European operations from Berlin to Lisbon in 2022 and cut costs by 40% while improving my ability to attract international talent willing to relocate.

The reality check:

Bureaucracy can still be frustratingly slow. Banking setup for foreigners remains challenging. The domestic market is relatively small. Finding senior specialized talent locally can be difficult. The NHR program continues to see modifications.

Best for: Digital businesses, EU market entry, lifestyle businesses, creative industries

Business Friendly Visas and Immigration Pathways

Getting yourself legally established is just as important as setting up your business. These countries offer standout options for entrepreneurs and business professionals.

Portugal’s D2 Entrepreneur Visa

Portugal’s D2 visa has been my recommendation for multiple clients looking for European relocation with reasonable investment requirements.

The highlights:

• No specific investment threshold (though typically €5,000 25,000 expected)
• Clear path to permanent residency and citizenship
• Entire family can be included
• Physical presence requirement of just 7 days every 6 months
• Access to Portugal’s excellent healthcare system
• NHR tax program potentially available

My client launched a small digital marketing agency with €15,000 initial capital and secured his family’s D2 visas within 5 months. After five years, they will be eligible for Portuguese passports.

Canada’s Startup Visa Program

Canada’s Startup Visa stands out for its clear path to permanent residency for innovative entrepreneurs.

The highlights:

• Permanent residency from day one (not temporary status)
• Reasonable investment requirements through designated organizations
• Processing times typically under 12 months
• World class public healthcare access
• Clear inclusion of family members
• No specific job creation requirements

A Brazilian founder I mentored secured backing from a designated Canadian angel investor group with a $75,000 investment commitment. His permanent residency was approved in 10 months, something that would have taken decades in the US.

Singapore’s EntrePass

Singapore’s EntrePass is more selective but offers access to one of the world’s best business environments.

The highlights:

• Designed for innovative, scalable business concepts
• Access to extensive government grants and support
• Initial 1 2 year duration with straightforward renewals
• Path to permanent residency for successful businesses
• Ability to bring in key team members
• Excellent infrastructure and quality of life

The EntrePass has become more selective, focusing on innovative technologies and scalable models. My successful applicants typically had previous startup experience, unique IP, or funding already secured.

💡 Tip: Most business immigration programs look for differentiation. Presenting a standard “me too” business model rarely succeeds. Focus on innovation, export potential, and genuine market gaps in your application.

Best Countries by Business Sector

Different industries thrive in different environments. Here is where I have seen the best sector specific ecosystem support.

Technology and SaaS

Estonia has been transformative for bootstrapped SaaS businesses. The zero tax on reinvested profits means growth companies can compound returns tax free while building. The digital infrastructure reduces administrative overhead dramatically.

Singapore offers unmatched advantages for enterprise SaaS targeting Asian markets. The government actively introduces startups to potential corporate customers, and many MNCs run their regional innovation scouting from Singapore offices.

Canada provides the ideal balance for AI and machine learning ventures needing North American presence. The talent pipeline from top universities, government R&D incentives, and more reasonable visa policies than the US create a powerful combination.

Manufacturing and Hardware

Vietnam has emerged as my go to recommendation for clients moving manufacturing out of China while keeping costs controlled. The government actively supports foreign investment in manufacturing with tax holidays and simplified procedures.

Mexico offers the perfect combination of USMCA (formerly NAFTA) access, reasonable costs, and proximity to the US market. Several clients have relocated Chinese production to Mexican facilities to mitigate tariff issues and reduce shipping times.

Poland provides EU manufacturing with significantly lower costs than Western Europe. The educated workforce, strong technical universities, and substantial EU development funds make it particularly attractive for precision manufacturing.

E-commerce and Digital Retail

UAE (particularly Dubai) excels for e-commerce operations serving MENA and South Asian markets. The logistics infrastructure, free zones specifically designed for e-commerce, and 0% corporate tax create an ideal operational hub.

Singapore remains unbeatable for e-commerce businesses targeting Southeast Asia. The city state’s agreements with regional shipping partners, trusted regulatory environment, and strong IP protection are significant advantages.

Portugal offers a cost effective base for EU e-commerce operations. The lower operational costs compared to other Western European countries, combined with full EU market access, create compelling unit economics.

Financial Services and Fintech

Singapore stands alone for fintech innovation in Asia. The regulatory sandbox approach of the Monetary Authority of Singapore allows controlled innovation with clear paths to full licensing. The concentration of financial institutions creates ready customers for B2B fintech.

Lithuania emerged as my surprising European fintech recommendation after Brexit complicated the UK position. The central bank’s innovation friendly approach, EU passporting rights, and specialized banking license options create a streamlined entry to European markets.

UAE is transforming into a crypto and payments hub with regulatory clarity that many jurisdictions lack. The Dubai International Financial Centre offers a common law framework within the civil law UAE system, providing familiar legal structures for financial services.

Practical Tips From My Expensive Mistakes

Let me save you some of the pain I have experienced building businesses across borders.

Local Partners Can Make or Break You

My Vietnam manufacturing operation nearly collapsed before our local partner stepped in to navigate relationship complexities I couldn’t see.

In Indonesia, my client’s business thrived because their local director handled government relationships that would have been opaque to any foreigner.

Yet in Singapore, I operated successfully for years with no local partner due to the transparent system.

Evaluate each market honestly for the true need for local partnerships. Where needed, invest substantial time in partner selection and clear documentation of expectations and responsibilities.

Business Banking Is Not Created Equal

In Singapore, my business banking experience was seamless, with international transfers, multi currency accounts, and credit facilities easily arranged.

In Portugal, opening a basic business account took 8 weeks, four in person visits, and a local accountant’s assistance despite having Portuguese residency.

Before committing to a jurisdiction, research current (not past) banking reality for foreign owned businesses. Options have tightened significantly in many countries since 2020. If possible, establish banking relationships before you urgently need them.

Remote Work Changes the Equation

The most successful international businesses I see in 2025 use a hybrid approach:

• HQ jurisdiction optimized for tax and legal framework
• Employment hubs where talent is available and reasonably priced
• Founder residency in lifestyle favorable, tax efficient location

This structure separates where the business exists legally from where people actually work and where owners receive income.

A client runs a Delaware C Corp with operational employees in Poland, developers in Vietnam, a Singapore sales office, and the founder living in Portugal under the NHR program. The structure takes maintenance but optimizes every aspect of the business and personal situation.

💡 Tip: International business structures require regular maintenance and adaptation as laws change. Budget for annual legal and tax reviews of your structure, not just initial setup.

The Insurance Reality No One Discusses

My biggest early international business mistake was insufficient attention to insurance across borders.

When my Singapore based business served American clients, I discovered neither my Singaporean nor my American insurance covered litigation in the other jurisdiction. The gap cost me $20,000 in special coverage after a client threatened action.

Key policies to consider:

• Professional liability with international coverage
• Directors and officers liability across jurisdictions
• Key person insurance for founders and essential team members
• Business interruption with appropriate international triggers
• Health insurance that works where your team actually operates

I have found international health insurance particularly important for businesses with traveling team members or multiple locations. Standard domestic plans create coverage gaps when people work across borders. You can compare international health insurance options here.

Final Thoughts: Finding Your Perfect Business Home

After helping launch businesses across dozens of countries, I have learned there is no single “best” country for business. There is only the best country for YOUR specific business model, growth stage, and personal needs.

The most successful international entrepreneurs I know approached location as a strategic advantage, not just a convenience choice. They selected jurisdictions that specifically enhanced their business model and addressed their constraints.

A few closing recommendations:

For first time international entrepreneurs: Singapore, Canada and Estonia offer the most straightforward paths with English language dominance and transparent systems.

For experienced business owners seeking optimization: UAE, Portugal and specialized jurisdictions like Mauritius or Malta can offer sophisticated advantages when properly structured.

For manufacturing and physical products: Vietnam, Mexico and Poland provide different but compelling cost to quality to market access ratios.

For digital and SaaS businesses: Estonia, Singapore and Canada create the ideal infrastructure and talent access.

Remember that the best jurisdiction on paper becomes the worst in practice if it does not match your actual business needs and personal situation. The country where your business thrives may not be the one with the lowest taxes or fastest setup time, but the one that creates the right overall environment for your specific venture.

Have you built a business internationally? I would love to hear about your experiences in the comments. Where did you find unexpected challenges or surprising advantages?

To your global success,
Mani