For any entrepreneurs thinking of expanding their business in Europe, knowing a bit about the business culture and the company formation process should be a priority.
There are many advantages to starting a business in Europe including low corporate tax rates, ease of import and export trade within the EU, the single currency, plus strong business communities and hubs with funding and development especially for entrepreneurs and startups.
To make things easier, we’ve compiled a helpful free downloadable step by step guide to starting a European business which covers the following important issues when setting up your company in Europe:
Choosing a European business structure:
Different regulations and requirements apply in Europe and you’ll need to understand the four main types of business structure – private limited, public limited, partnership or sole trader - before you settle on the one that’s right for you.
Opening a business bank account in Europe:
Knowing which bank to choose and compiling all the documentation for setting up your business bank account is part of the company formation process. It will allow you to make and receive tax payments, and demonstrates that you have the capital required to start your business and keep it running.
Writing a European business plan:
The distinguishing factor between a European business plan and business plans elsewhere is that it can be a mandatory part of the formation process. Some European countries require proof of your competence and trustworthiness as a business owner before they allow you to register a business or open a business bank account.
Tax rates in Europe:
Each European nation decides its own corporate and value added tax (VAT) rates. Both taxes will differ from country to country, and you also need to be aware of the Moss VAT tax scheme and income tax rates as well as which European countries offer the best corporate tax rates.
Recruitment in Europe:
One of the great aspects of the European Union is the freedom of movement. Within 26 countries covering most of Europe, there are no passport or border controls. In a business context, this not only means frictionless trade between nations, but also access to a combined talent pool and customer base of almost 420 million people.
Choosing a country to start your European business:
The sheer number of countries in Europe can make it a daunting choice for an entrepreneur wishing to expand their business. We have made profiles of the top eight European countries outlining all the pros and cons, plus all the tax advantages and a list of the top cities so you can choose the right location for your business.
So download the free guide below and take those first steps to expanding into new markets and doing business in Europe. (And if you’ve already decided that France or Ireland are the locations for your business, we’ve added free guides on how to start your business in those countries too!)
