After 2020, the number of digital nomads increased significantly. These individuals, regardless of their location, perform work online thanks to telecommunication technologies. Learn more about the countries best suited for registering a digital nomad business

During the coronavirus pandemic, the number of digital nomads has grown significantly due to remote work and travel restrictions. The introduction of new technologies has been a major factor in this growth, making digital nomadism more flexible and free than ever before. 

It is predicted that by 2035, the number of digital nomads could reach one billion. When choosing a country to do business in, you need to carefully evaluate different options. 

We have created a rating of the top 5 best countries for successful business for digital nomads.

Hong Kong

Many digital nomads open businesses in Hong Kong due to numerous tax benefits. For example, offshore companies do not pay income tax, while domestic businesses pay 16.5%. Hong Kong also provides a favorable business environment with minimal barriers to entry, which greatly simplifies business registration. Foreign companies face fewer restrictions compared to other countries.

The advantages include lower audit costs, no sales tax, and no CFC rules. Online platforms such as Air Corporate can be used to register a business. An additional advantage is the proximity to China due to the Closer Economic Partnership Agreement between the two countries.

China is also an attractive alternative for digital nomads. The country's economy continues to grow, offering many opportunities for investment. Opening a business in China is a logical step for many entrepreneurs looking to expand their business abroad. China's stable economic growth and many opportunities make it an obvious choice for many investors from around the world.

Singapore

Singapore offers digital nomads excellent investment and trade opportunities due to several key advantages. One of them is numerous tax incentives, including no corporate income tax. Startups are exempt from paying taxes for the first 3 years.

In addition, Singapore provides a convenient business registration process, which attracts many investors. The local market offers a wide range of banking services and a stable economy with a high GDP that exceeds that of many developed countries. These factors make Singapore an ideal place to start a business.

Andorra

Andorra has implemented a new law on digital nomads, which opens up many investment opportunities for digital and remote businesses. The country is actively undergoing digital transformation, providing economic, political and legal security for foreign entrepreneurs.

Andorra offers a competitive and internationally recognized tax system, making it attractive compared to other European countries. This new legislative initiative creates a favorable business environment, providing numerous advantages and prospects for digital nomads looking for a stable environment for their operations.

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For safe relocation to any country in the world, obtaining citizenship and employment, use the advice of an international lawyer. We help to solve complex and simple issues for your comfort and safety in any part of the world. 

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Belize

Belize is one of the most favorable countries for taxation and offers asset protection through offshore banking services. Business registration in Belize ensures confidentiality and privacy, which is especially important for digital nomads. The country also provides international banking and financial stability. 

Company registration in Belize takes only a few days and can be done with a remote corporate bank account. These advantages make Belize an attractive option for entrepreneurs looking for a convenient business environment.

Malta

With tax rates that can go as low as 5% if you take advantage of all the grants and tax incentive programs, Malta is a favorable option for doing business. In addition, entrepreneurs benefit from a trade agreement with the EU and a wide range of banking options. Malta is also considered one of the cheapest places to obtain a business license in the EU, and the absence of currency controls adds even more benefits.

Digital nomads who work regardless of location via the internet will find Malta an ideal place to register a business. Choosing a place to register a business has a significant impact on its success, so it is important to consider all factors when making this decision. With its low taxes, convenient location, and favorable business environment, Malta is an excellent choice for digital entrepreneurs.

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Igor Usyk - Head of Migration department at VisitWorld

To ensure a safe move to a new country, I advise you to consult a specialist. My colleagues, qualified specialists with a legal education, will help you avoid unpleasant situations during migration.

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Products from Visit World for a comfortable trip:

Travel guide for 200 countries;

Legal advice from a local specialist on visa and migration issues;

Travel insurance around the world (please select the country of interest and citizenship to receive services);

Medical insurance all over the world.

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