Where will replace London as Europe’s start-up capital after Brexit?
On the 23rd of June 2016, the British public voted to leave the European Union. The result of the vote came as a shock to many people and it has caused a lot of companies to re-examine their operations in the UK and consider other jurisdictions. It is currently unknown what the next few years hold for the UK economy but the majority of the world do not seem too confident in the country’s growth.
It is also unknown how this change will affect UK companies who trade overseas as the free trade deals that the EU have negotiated with 53 countries, including Canada, Singapore and South Korea, may soon no longer apply to the UK. This essentially means that the UK may have shut the door to the world’s largest market of over 500 million consumers as the EU is unlikely to allow to them to continue trading for free, to discourage other member states from leaving.
If you have been thinking about incorporating a UK company or already have a UK company, we would strongly advise you to reconsider the location. There are plenty of alternatives available with more advantages for businesses than the UK.
Ireland offers many benefits to entrepreneurs looking to set up corporate headquarters within the European Union. The country has one of the most attractive tax regimes in Europe with a corporation tax rate of 12.5% which applies to all Irish corporate trading profit. Many of the world’s most successful companies have chosen Ireland as a destination for their business because of the country’s pro-business environment. This includes leading technology companies such as Google and Facebook and leading pharmaceutical companies such as Actavis and Abbott. These and over 1,000 other multinational companies have done their research and decided that Ireland was the best destination to help grow their businesses. Euro Company Formations can register a company in Ireland on your behalf in just 2-5 working days.
Germany has one of the largest and the most substantial economies in all of Europe. Home to such companies as Allianz, BMW and Siemens, the country is often considered the most attractive location for new and developed business within the European Union. The German government is open to establishment of all types of businesses, regardless of the size or whether or not it involves a German citizen or a foreigner. The country has a well-developed financial and banking market and provides a secure platform to set up operations in Europe. Individuals or companies seeking to set up a business in Germany should seek advice from a professional company formation agent such as Euro Company Formations (ECF).
Poland’s location offers numerous advantages for business. The country is located in the centre of Europe and because of this has access to 250 million consumers within a 1000km radius. Company formation in Poland is very popular amongst business investors due to the large accessible market and the small costs. Poland also offers a wide range of incentives for foreign investors such as grants ranging from 25% to 50%.