FX.co ★ Forbes: best countries for business 2018

Some of the criteria were expanded or changed. The results were also influenced by the published reports of the non-governmental organization Freedom House, the Heritage Foundation, the international organization Property Rights Alliance, the United Nations, the anti-corruption organization Transparency International, the World Bank, Aon, Marsh & McLennan, and the WEF.

10th place - Switzerland

With a shortage of natural resources and absolute political and economic neutrality, Switzerland which is an active participant of international relations has achieved the highest prosperity.

Business in Switzerland is competitive, stable, and efficient. Inflation rates here tend to zero and the unemployment rate rarely exceeds 3%.

The country is leading in terms of the highly qualified specialists number. The absence of corruption, strong national currency, and low corporate tax rates create perfect conditions for business activities.

9th place - Singapore

Another state that made a powerful economic breakthrough is Singapore. In the middle of the 20th century it was a quiet port city. To date, it is one of the world's busiest and rapidly growing economic centers providing attractive conditions for many entrepreneurs.

Focusing on foreign investments, Singapore has taken steps that spurred the rapid development of business in the country. These include the development of government support programs for businesses and financing start-ups.

Corporate taxation system along with general high standard of living attracts young companies that are starting business in Singapore.

8th place - Ireland

The breakthrough in Ireland which experienced a rather serious crisis in 2008 is explained by the great number of highly qualified young professionals and a flexible taxation system.

The favorable business environment has allowed the country to become the world's leader in the technological sector business. The industries such as pharmaceuticals, biotechnologies, medical equipment, information and communication technologies are also actively developing here.

7th place - Denmark

Tthe convenient location of Denmark contributes to the expansion of its economic activities in Scandinavia and the Baltic states.

Thanks to the international trade level, the ease of paying business taxes, obtaining construction permits, and decisions on insolvency, Denmark has been among the top ten countries in the world for many years.

Most foreigners start their business by opening hairdressers, cafes, laundries, insurance companies, tourist offices, freight forwarders, and other service-oriented businesses. Agricultural activities are also popular.

6th place - Hong Kong

Hong Kong is in the top ten of this rating thanks to its developed infrastructure, progressive corporate legislation, and a reliable banking system.

The location in the very center of the dynamically developing and promising Asian-Pacific region allows Hong Kong, which is a large-scale consumer market, to cover half the world's population.

The absence of VAT and customs duties and excises, the modest rate of taxes on profits, income and real estate, as well as the absence of outsource income taxes give Hong Kong the full right to be considered a real "tax haven".

5th place - Canada

Canada is an example of a prosperous country with strong economy, high social security of citizens, and excellent business conditions. The government and various business associations support all types of business. Canada is also known for its developed system of lending and consulting.

It is much cheaper to register a business in Canada than in a number of other countries and the size of the profit tax is one of the lowest in the world. With such conditions, the government tries to attract economically active people who can contribute to the development and prosperity of the country.

4th place - Sweden

Today Sweden is considered one of the most promising countries in terms of business. The most incredible startups in history have been realized here.

One of the most popular businesses here is the development of mobile versions for new portable devices. Besides there are such developing areas as projects related to architecture, design, and applied arts.

However, with all the existing advantages, it is more difficult for foreigners to open a business in Sweden due to the fact that this requires mandatory registration. Moreover, the choice of ownership forms is limited to LLC (Privat Aktiebolag) and OJSC (Publikt Aktiebolag). Together with very high taxation, successful business in Sweden is possible only with a lucky coincidence.

3rd place - Netherlands

People say it is time-consuming and difficult to open a business in the center and the west of Europe. But in the Netherlands, this procedure is convenient and easy because of low tax rates, simplicity of registration, and tangible financial support from the state and private companies.

Startups in the agricultural ares enjoy the greatest success in the country. However, food trade, chemical and medical industries, production of alcohol and tobacco products are also successful. Thanks to extremely favorable geopolitical position, logistics in the country is at the highest level.

2nd place - New Zealand

New Zealand is ranked second in this list for the third consecutive year. In terms of economic growth, New Zealand is second only to Ireland. Half a century ago it was a country with an agrarian economy. But later the New Zealanders privatized dozens of industries previously controlled by the government, such as air travel, insurance, banking services, and telecommunications. New Zealand leads the overall list by several criteria such as lack of bureaucracy, low levels of corruption, and property rights.

1st place - United Kingdom

Even Brexit scheduled for March 2019 did not wreck the economy but contributed to the creation of an attractive business climate in the country. For the first time in twelve years, the United Kingdom took the first place in the annual ranking of the best countries for doing business according to Forbes.

The Great Britain received high marks in almost all parameters except for "political risk". From the point of view of technological development, as well as in terms of the number and level of education and qualification of the workforce, the country is in the top five.