Things to look at when starting a business in Europe

The economic growth of Europe is pretty slow considering the business scenario, the government spending cuts and many other scenarios. Though this is not the best time to set up a business in Europe, this might be a good time to establish your business. Just remember to top up your EHIC before going over to Europe, click here for more info.

What do you need to know for setting up a business in Europe?

One of the most important things that you need to know while setting up a business in Europe is that Europe has its own set of rigid rules and laws regarding foreigners who would like to set up a business in Europe. The European Union has a joint immigration, which is called the Schengen agreement that is related to working and establishing a business as a member of the country.

Requirements for setting up a business in Europe

There are different laws in different European countries for setting up a business. Most of the countries do not require a work permit while setting up a business; however, they do need a residency permit in the country that they intend to set up their business. These are temporary at first and then might get converted to a long-term residency. You can set up various kinds of business as an individual, as a partnership business or as a business of a foreign company. However, you need to know the country that would encourage you to set up your business, the time, the location and all other factors that need to be taken under consideration

Related: Europe’s Energy revolution

How to choose the best country for business in Europe

When you are planning to establish a business in European countries, the first consideration that comes to your mind is the location. There are over 50 countries to choose from and each country has its own set of VAT, service tax registration procedures, languages and capital investment that is required for starting the business. Costs must be kept to the minimum at first and slowly it can be increased depending on the growth of the company.

The Days to start a business

Apart from the location you also need to plan on the days that are required to set up your business in Europe. Some European countries are very well known for their bureaucracy and red tape and diplomacy while others encourage overseas projects. Countries like Austria are good to do business, but it takes a lot of time to open the business, which entrepreneurs may not like. It is also important to register your trademark and promote yourself as a brand, which is one of the most valuable tools for starting a business as well.

If you want to know more about setting up a business in Europe, then you can refer to the Apart from knowing how to set up a business in Europe you can know about various business tips and suggestions, industry and innovative ideas, personal finance, business outsourcing and more.

Here are the things that you need to look at while setting up a business in European countries.

You might also enjoy: Euros and US Dollars Chart