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The Main Benefits of Opening a Company in A Foreign Country

One of the countries to offer such benefits is Italy, however, specialized advice from accountants or even lawyers is welcome

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In many cases, choosing a foreign country for starting a business has many advantages. Pixabay

In our days, we can virtually open companies anywhere in the world, which is why setting up a business in a foreign county is easier than even. In many cases, choosing a foreign country for starting a business has many advantages, among which lower taxation is one of the most important aspects kept in mind by investors. One of the countries to offer such benefits is Italy, however, specialized advice from accountants or even lawyers is welcome when it comes to the tax matters which need to be considered.

There are also other advantages linked to starting a business in another country, so let’s take a look at them below.

Most countries offer incentives for foreign investors

Setting up a business in another country leads to obtaining various incentives, as many governments have set in place programs destined to attract foreign investors. From tax deductions to specific industries in which one can invest under advantageous conditions, there are countries which offer opportunities a business person cannot find in his/her home country. 

Company, Foreign, Country
In our days, we can virtually open companies anywhere in the world, which is why setting up a business in a foreign county is easier than even. Pixabay

Those deciding to expand their operations through a Romanian branch office will benefit from numerous such incentives created to support foreign investments.

A foreign country can offer a larger market

Those who come from small countries will definitely find more opportunities in larger countries, which is why a foreign country could represent a better market for a product or service. Then, there are also the countries which need specific products and where, once again, the profits can be higher than in one’s home state.

A cheaper workforce can attract foreign investors

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A significant part of the expenses of a company are related to employment which is why many entrepreneurs seek to spend as little as possible on this aspect of a business. This is also one of the few expenses which can be controlled very efficiently by the business owners and choosing a country which offers a cheap workforce from the beginning is definitely a plus for any investor.

Considering there are European and Asian countries which offer cheap and skilled labor force, starting a company in a foreign country for this reason can be a good idea.

There are many advantages related to choosing a foreign country for opening a business and investors will decide the best state based on several aspects which interest them the most, especially when the number of benefits is higher than in the home country.

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Xiaomi Becomes Youngest Company on Fortune Global 500 List for 2019

The company also ranks seventh in the Internet Services and Retailing category, the company said in a statement

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Xiaomi, Fortune Global, Company
The Beijing-based global technology firm on Monday announced that the company has, for the first time, made the Fortune Global 500 list, nine years after its iteration. Pixabay

Chinese smartphone manufacturer Xiaomi has become the youngest company on the Fortune Global 500 list for 2019, ranking 468, with a revenue of $26,443.50 million and a net profit of $2,049.10 million in the previous fiscal.

The Beijing-based global technology firm on Monday announced that the company has, for the first time, made the Fortune Global 500 list, nine years after its iteration.

The company also ranks seventh in the Internet Services and Retailing category, the company said in a statement.

“It took Xiaomi only nine years to make the Fortune Global 500 list, a milestone that we owe a big thank you to all our Mi fans and users for their unwavering support. We are also the youngest company on this year’s list, a proud record that we will keep in mind and bring to another level in the global expansion journey,” Lei Jun, Founder, Chairman and CEO of Xiaomi said.

Xiaomi, Fortune Global, Company
Chinese smartphone manufacturer Xiaomi has become the youngest company on the Fortune Global 500 list for 2019, ranking 468. Pixabay

Founded in April 2010 as an internet company with smartphones and smart hardware connected by an Internet of Things (IoT) platform at its core, Xiaomi was also named in Fortune’s China 500 list for the first time in June, ranking 53rd.

According to international market research organisation IDC, as of March 2019, the company has become the world’s fourth smartphone brand in terms of shipment sales volume, registering a year-on-year growth of 32.2 per cent.

The company has also incubated and invested in over 200 ecosystem companies, many of which are specialized in developing smart hardware, and has thus built the world’s largest consumer IoT platform with approximately 171 million connected IoT devices, excluding smartphones and laptops, by late March 2019.

The firm is investing 10 billion Renminbi in the development of “All in AIoT” in the next five years as part of its “Smartphone+AIoT” dual-core strategy, allowing the prospect to capitalize on Artificial Intelligence (AI) and IoT development opportunities in the future, and laying a solid foundation for the growth over the next five to 10 years.

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Moreover, the company is planning to replicate its success by enhancing and adjusting its business strategies from China to overseas. (IANS)