Registering IT companies in 2020: the best jurisdictions

Registering IT companies in 2020: the best jurisdictions

As the saying goes, “a progress does not stand still”, and today, thanks to the rapid development of IT technologies, almost all of us have a high-performance computer, a smartphone with many functions, that are not inferior in power to a PC, various types of gadgets, that simplify our life and make it at times more comfortable. We increasingly use electronic cards and wallets, cryptocurrencies, and, also, prefer a quick and easy online banking service to cash. At the same time, there are more and more interesting professions, that are in great demand in the software market, such as: a PHP programmer, a system engineer, an IT architect, a neural interface developer, an QA engineer and others.

That is why registering an IT company is an extremely urgent idea for starting your own business. You can find out details about which countries offer the most favorable conditions for opening an IT company from YB Case specialists.

The best jurisdictions for registering an IT company

Many, both beginners and already experienced entrepreneurs, are wondering where it is better to establish an IT company - in Belgium, South Korea or to register a company in Australia? It is worth noting, that in addition to the above jurisdictions, the following are not less popular:

  • Czech;
  • Scotland;
  • Hungary;
  • Ireland;
  • Georgia.

And of course, America is the most attractive country for those, who want to establish an international business, because registering an IT company is not only prestigious, but also extremely profitable.

Second and third places in terms of interest in the development of the information technology sector are Ireland and the Czech Republic. Another interesting decision will be the registration of a company in Georgia, where special free zones operate, in other words, territories exempted from taxes, 2 of which are located in Kutaisi, 1 in Tbilisi and 1 in Poti. Also, you have every chance to take root in the Scottish IT services market or open a company in Hungary. The main thing is to correctly set personal priorities and familiarize yourself with specifics of doing business in these jurisdictions in detail, which our specialists will certainly help you with.

What you need to register IT companies?

Starting to choose the most suitable jurisdiction, it is worth answering the following key questions:

  • Are you going to invite investors to your project?
  • Who are your main business partners and who intends to pay for your services?
  • Are you going to conduct activities within the jurisdiction, according to the place of registration of the company?
  • Where will dividends and royalties be directed?
  • Is the jurisdiction of your choice a low tax (blacklisted by laws of Ukraine, Russia)?

First of all, you should consider as much as possible possibilities, that a particular jurisdiction offers you and then decide, how well it corresponds to your business plan. It is worth noting, that there are many countries, that have a refused nominal ownership, trust agreements, the use of option contracts and not only. In addition, nuances may arise regarding attracting investors. For example, US investors prefer only American enterprises with accounts, opened with American banks. And, if you want to open an IT company in Europe, then take into account the fact, that European investors often choose local companies.

If you intend to carry out business activities within the country, according to the place of registration of your company, then be prepared to face certain expenses, as well as a number of relevant taxes. At the same time, such activities may be a mandatory item required to open an account in some countries. It is also worth saying, that opening an IT-enterprise in jurisdictions of Europe without the need to pay taxes is also quite realistic.

In other words, there are many interesting details, that our specialists can tell you in detail about.

How to register an IT firm remotely?

Decided to open an IT company in Hungary, to register an IT organization in Scotland or open an account with a US bank? Then order professional advice on starting a business in the field of IT technologies from YB Case experts, and we will answer all your questions in detail.

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