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The minimum monthly wage in Canada is dependent on the each administrative territory. Canada has a government debt of 49.6% of the country's Gross Domestic Product (GDP), as assessed in 2012. With regard to consumer prices, the inflation rate in Canada is 1%. The currency of Canada is Canadian dollar. The plural form of the word Canadian dollar is dollars. The symbol used for this currency is $, and it is abbreviated as CAD. The Canadian dollar is divided into cent; there are 100 in one dollar. Each year, consumers spend around $1,021,477 million. The ratio of consumer spending to GDP in Canada is 0.06%, and the ratio of consumer spending to the world consumer market is 237%. The corporate tax in Canada is set at 15%. Personal income tax ranges from 0% to 50%, depending on your specific situation and income level. VAT in Canada is 13%.
Gross Domestic Product The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Canada is $1,595,975 billion. The Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) per capita in Canada was last recorded at $43,188,427. PPP in Canada is considered to be very good when compared to other countries. Very good PPP indicates that citizens in this country find it easy to purchase local goods. Local goods can include food, shleter, clothing, health care, personal care, essential furnishings, transportation and communication, laundry, and various types of insurance. Countries with very good PPP are safe locations for investments. The total Gross Domestic Product (GDP) in Canada is 1,838,964 billion. Based on this statistic, Canada is considered to have a large economy. Countries with large economies support a wide variety of industries and businesses, providing ample opportunities for investment. Large economies support a substantial financial sector, making it easy to organize investments and financial transactions. It should be very easy to find good opportunities for investment in Canada. The Gross Domestic Product (GDP) per capita in Canada was last recorded at $49,763,914. The average citizen in Canada has very high wealth. Countries with very high wealth per capita have an extended life expectancy and very high standard of living. Highly skilled workers can be found in many industries, and labor is very expensive in these countries. Countries with very high wealth offer opportunities for safe investments, as they are often supported by a diverse and thriving financial sector. GDP Annual Growth Rate in Canada averaged 2.3% in 2014. According to this percentage, Canada is currently experiencing modest growth. Countries that are experiencing modest growth offer safe opportunities for investment; their expanding economy indicates that businesses, jobs, and income will expand accordingly.
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The EU Blue Card is sometimes compared to the US Green Card. The blue color is said to be the color of the European Union flag, for this reason the map should be blue. Its purpose is to give non-EU/EEA citizens a work and residence permit. It offers people the right to fit into the socio-economic landscape and embark on a path that leads to permanent residence in Europe. Put simply, people can live and work in Europe without restrictions if they have a Blue Card.
Purpose of introducing an EU Blue Card It was introduced by the European Commission in 2007, proposed and implemented in 2009 and issued by 25 countries that are member states of the EU. According to Eurostat data, in 2016 most work permits issued were registered in Germany (more than 17,000), France (more than 700) and Poland (more than 600).
The second purpose of the EU Blue Card is to make Europe a more attractive destination for professionals from outside the European Union. A special EU Blue Card program has been created for all EU member states with the exception of Great Britain, Ireland and Denmark, which invites highly qualified people to the EU states. This scheme aims to make Europe the world's most popular migration destination.
This can be guaranteed through equal salaries and working conditions for foreigners, freedom of movement within the Schengen area, socio-economic rights, favorable conditions for family reunification, permanent residence prospects and freedom of association. Obtaining the EU Blue Card has several main advantages. These include very high chances of a permanent residence permit, which entitles you to any kind of employment under easier conditions, equal rights and equal opportunities to work in Europe's largest economy and a huge business market, and easy travel opportunities.
Prerequisites for applying for a Blue Card Although the same basic criteria can apply to all 25 member states of the EU, there are smaller additional criteria that are determined by each member state for itself. In principle, the Blue Card can be applied for if three main requirements are met. These are: non-EU nationality, educational or professional foreigners (highly qualified or skilled workers, researchers, students and trainees) and with an employment contract or binding job offer (seasonal workers, internal transfers). A person can be considered a highly skilled worker if they have an employment contract of at least one year and if they can meet the conditions listed below. If a person is able to meet these mandatory requirements, they will be given an online profile in the EU Blue Card network, which has a dual function – to consult foreigners with employers to offer them an employment contract and to allow foreigners to change their employment contract to submit applications.
In recent years there has been a shortage of workers, which is noticeable in areas such as medicine, technology, computer science (IT), natural sciences and mathematics. This means that foreigners who work in the areas mentioned usually have a better chance of receiving the EU Blue Card.
In addition, a person who is self-employed or an entrepreneur can receive the Blue Card if they have sufficient financial resources, have a business that has a positive impact on the economy of the host country and can generate an economic interest that is active in the host EU -Member State is low.
When applying, it is important to consider the time frame it will take to gather all the required documents. It usually takes 4-6 months to prepare all the required documents. Some countries arrange appointments with the relevant embassies or consulates in foreigners' home countries, others offer online applications that can be filled out by foreigners themselves or their employer or a law firm. It is expected that after applying, the person will have to wait up to 3 months for the processing to be completed.
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Multinational companies and governments around the world are increasingly looking to Africa as a new business destination. Africa's economy has grown at a rate of around 5.3% per year over the last decade and six of the world's ten fastest growing economies are located here. These countries have a fast-growing middle class that contributes to rapid urbanization that is increasing faster than their cities' infrastructure can keep up. It is a common misconception that many economies in Africa are heavily dependent on energy production. In reality, the oil and gas sector accounted for only 11% of Nigeria's GDP in 2014, while the construction sector accounted for 20%.
When considering doing business in Africa, it is not a matter of choosing just one country or all 54; A regional approach makes more sense. Sub-Saharan Africa, for example, refers to sub-Saharan countries such as Angola, Kenya, South Africa and Nigeria. Many companies already doing business in Africa are separating their businesses in North Africa and Sub-Saharan Africa due to the stark economic, linguistic and cultural differences between the two regions. Here are our top 5 African countries for doing business:
Mauritius Mauritius is known for offering an extremely favorable business environment for investment and business growth. The process of incorporating a company and starting new business activities in Mauritius is believed to be straightforward and relatively easy. Mauritius' economy is mainly based on textiles, tourism, sugar and financial services, although recently other sectors such as renewable energy and information technology are expanding rapidly. The World Bank ranked Mauritius 49th in its Doing Business 2017 ranking, largely due to its pro-business approach to dealing with building permits, enforcing contracts and protecting minority investors. Another ranking of African countries places Mauritius first based on factors such as law and security, economy, human development and human rights.
Rwanda Despite nearly a decade of Rwanda's civil war, the country's leaders and citizens alike have worked to achieve a healthy business climate and a strong overall economy. According to the World Bank, Rwanda is the second easiest place to do business in Africa and ranks 56th in the Doing Business ranking. This is because the procedures for registering a property, obtaining credit and trading across borders have been greatly simplified. Tourism is currently the fastest growing sector in Rwanda. According to our research, businesses can be incorporated and operating in as little as three days.
Botswana Since gaining independence, Botswana has had one of the fastest per capita economic growth rates in the world. As the government works to diversify the country's profitable industries, the mining of diamonds and other precious metals is currently the main contributor to the country's economy. Recently, Botswana has managed to reduce the time it takes for various processes including import and export and business formation procedures. In addition, technological upgrades have reduced the average court length for commercial disputes to 625 days (from 987 days in 2008). Thanks to these improvements, Botswana ranks 71st in the World Bank's Doing Business 2017 ranking.
South Africa South Africa's key industries are automobile manufacturing, tourism, mining and information and communication technologies. South Africa has managed to simplify its import and export procedures, resulting in less time and fewer documents required. In addition, the South African authorities have simplified tax legislation, reducing the number of hours required to prepare tax reports. The World Bank ranked South Africa 74th for ease of doing business in 2017.
Kenya Another country to keep an eye on is Kenya, which is currently making huge investments in sectors such as telecom, transport and energy. With a tech-savvy workforce and high-speed internet, Kenya stands out as one of the top countries in Africa for tech startups, while its diversified economy, strong ownership rights, excellent tourism sector and improving infrastructure make it a great location for general start a new company. If you have further questions about company formation or banking in Africa. Please contact us now.
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When choosing a jurisdiction for a company in Europe, you should understand that the European Union (EU) does not equal Europe. There are some countries and exclusive jurisdictions that are geographically positioned in Europe but are not a part of the EU, either fully or partially, for example, Norway, Switzerland, Guernsey, the Isle of Man, Gibraltar and Liechtenstein. Some of these territories offer a low-tax regime, which may be useful for tax planning purposes. Many companies established or purchased in these jurisdictions are private or public limited companies. A substantial number of the companies that we have incorporated are private limited companies (LLC).
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The United Kingdom of Great Britain and Northern Ireland or simply the United Kingdom is the largest state in the British Isles and comprises the island of Great Britain, Northern Ireland which is located in the north-eastern part of the island of Ireland and the Republic of Ireland borders many other smaller islands. This country has a long and rich history combined with a liberal, modern and forward-thinking mentality. Due to numerous waves of immigration, Great Britain is culturally extremely diverse. Not only is the UK one of the world's leading financial centers, it has numerous other strong industries that together make up the fifth largest economy in the world and the second largest economy in Europe after Germany.
The UK is currently going through major changes and one can only wait and see what the UK economy will look like once it leaves the European Union. For now, we can take a look at popular applications from UK companies and why the UK is one of the top destinations for foreign entrepreneurs.
One entry point for the rest of Europe The UK is an important gateway to the rest of Europe. The UK is a major trading partner within the European Union and also has ties to other Commonwealth of Nations member states. Access to larger markets is a crucial factor for any business and many foreign entrepreneurs see the UK as the most advantageous location to do business in order to reach as many other markets as possible.
Currently, the UK enjoys being part of the EU single market, which means that UK registered companies can trade freely with any member country of the EU single market, among other things, without tariffs, quotas or trade taxes. This is not only financially beneficial for the UK businesses, it saves time and most importantly - they get a huge customer base. After exiting the European Union, the UK will most likely exit the single market, however trade deals are being negotiated to continue to benefit from the potential customer base in the EU.
Develop new products In 2011, the UK government launched a campaign to encourage a business-led recovery from the recession. The campaign, called StartUp Britain, was designed to inspire and support entrepreneurs. Since then, annual birth rates have increased each year as entrepreneurs value the technical support provided for new product development and other support needed by entrepreneurs. This is just one example of numerous campaigns, think tanks and incubators across the country. In addition, the UK is rich in resources and extremely bright professionals willing to change the world with their business ideas.
Find new customers, suppliers and partners According to the World Bank, Britain is home to more than 65 million people and is one of the few countries in Europe where the population is expected to grow in the future. Entrepreneurs are rightly taking advantage of this large base of wealthy clients.
But the UK is attractive to foreign and local entrepreneurs not only because of the advantages offered by the large local customer base and potential markets, but also because the UK is a perfect location to meet new suppliers and partners for your business . Just like you, numerous other entrepreneurs decide to relocate to the UK every day for the above reasons. Due to the popularity of the English language, foreign entrepreneurs can communicate with each other, as well as with local entrepreneurs, without a language barrier. Numerous trade and business related conferences, shows and workshops are frequently held in the UK, helping to bring together like-minded people with business ideas.
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In general, electronic commerce (EC) or e-commerce is defined as commercial transactions that are processed electronically on the Internet, intranet, extranet, world wide web, by e-mail and by fax. These transactions do not have to have a price and include both sales and items such as free downloads. All transactions can be carried out on a global level.
Simply put, e-commerce means buying and selling goods online. It also includes other types of activities related to business transactions. The newest and closest branches of e-commerce include mobile commerce, when goods are sold through various mobile devices, and Facebook commerce, which provides an audience for closing deals.
E-commerce involves the creation of new value-added business structures and business relationships between companies, their customers and suppliers.
Examples of e-commerce stores Best examples of e-commerce are: online shopping (e.g. Amazon.com), electronic payments (e.g. PayPal), online auctions (e.g. eBay), online ticketing (e.g. Ecolines) and internet banking (online bank accounts). It can be executed in two ways – business-to-business (B2B) transactions between distributors, retailers and manufacturers on both sides, business-to-consumer (B2C) between companies and consumers and between consumers (C2C) where both Parties involved in transactions create barter deals. The third type of e-commerce transactions can be clearly described as auctions.
There are various ways to make business deals: email exchanges, online catalogs and digital coupons, shopping carts powered by operating system software to allow consumers to purchase goods and services, as well as customers to be easily tracked by all Commercial aspects are combined into a coherent whole, file transfer, social media marketing, targeted advertising and other web services.
Brief overview of the e-commerce industry E-commerce helps save time by speeding up the entire selling process, ensuring a wider range of goods in one place, staying available 24/7, finding a target audience, creating and accepting business offers, and also reducing transaction costs. This means that there are no time or space barriers when using the network. However, it is still not possible to do some important things with this way of doing business. This means that consumers, retailers and tradespeople cannot touch the goods immediately and experience the items they are interested in in a tangible way.
Businesses began using electronic data to exchange their business in the early 1690s. In 1979, the American National Standards Institute developed a universal standard for companies to exchange business data over electronic networks called ASC X12. The entire industry took off in the 1990s with the development of amazon.com and eBay. The past 5 years are said to be nurturing for Internet business transactions.
Web sales in 2015 were $341.7 billion, according to data from the US Department of Commerce. Ecommerce helps keep things simple while also having fewer restrictions. It helps boost business, build marketing automation systems, and remotely manage sales and communication with customers and business partners.
Top Jurisdictions for Starting an Ecommerce Business Certain jurisdictions have some useful benefits for ecommerce businesspeople and international online retailers. For example, England has a mature investment and banking industry that enables online trading and ensures a bridge between the US market and companies looking forward to entering this market. France has a dedicated digital business minister (Axelle Lemaire) by launching a brand (La French Tech) designed to promote French startups internationally. Germany and Berlin in particular are attracting a lot of attention from famous tech multinationals such as Google Campus @ Factory. The top 10 e-commerce markets by country also include China (rated 1), the United States (rated 2), Japan (rated 4), and South Korea (rated 7). These ratings were created in 2014 and are based on statistical data reflecting the level of total online sales.
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The Panama foundation is a type of private foundation specifically designed as an asset protection tool. Introduced by the Panamanian Government in 1995 (through the Private Interest Foundation Law), it is based on the principles of Swiss, Luxembourg and Liechtenstein family foundations. The most obvious advantage of the Panamanian private foundation is that it is a distinct legal entity, independently capable of exerting its rights, executing agreements, acquiring property, etc.
On the other hand, the difference between an offshore limited liability company and a private foundation is that the latter does not engage in commercial activity and cannot be used for trading purposes. Nor is it to be confused with a corporation, which has owners and members. However, a Panamanian private foundation can participate in investment activities: real estate, holding shares, bonds, patents, interests, stocks, etc.
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Germany is a social market economy with a large capital stock, a highly qualified workforce, a high level of innovation and low levels of corruption. It is the largest economy in Europe and the fourth largest nation in the world in terms of nominal GDP. In addition to the intelligent economy and productive market structure, Germany also offers investment opportunities in its real estate segment.
What influences the German real estate market? The volatility of the real estate market can be explained by numerous macroeconomic and social factors in the country. Due to the zero interest rate policy of the European Central Bank, mortgage interest rates remain at record lows and offer historically favorable financing conditions. In addition, the quantitative easing (QE) policy being pursued by the ECB is leading to higher liquidity, increasing investment pressure as investors seek potential investment opportunities with above-average returns in relatively safe sectors. QE is also weakening the euro, making the German real estate market even more attractive to investors from outside the eurozone.
New projects and construction activities lag far behind the growing demand, which leads to rising property prices. The German Property Index (GPI), which measures the return on all real estate investments in Germany, reached 14.7% in 2016, a record level since German reunification. The demand for high-quality real estate is increasing due to the demographic and overall economic development in Germany – ongoing urbanization and growing metropolitan areas. Germany is experiencing a positive reversal in birth rates and other demographic factors. The birth rate rose from 1.39 to 1.50 per woman between 2011 and 2015. In addition, Germany has a persistent migration surplus, which can partially compensate for the demographic imbalance.
Commercial real estate, especially office space, is also in high demand due to record employment and the low unemployment rate, and is also benefiting from increasing purchasing power and high consumer spending. Logistics and warehouse real estate is crucial for growing businesses and is therefore in high demand due to the increase in wholesale and retail trade. Below you will find an overview of the most important sectors of the German real estate market.
Residential Properties The residential property market has managed to recover from the financial crisis and the market stagnation in the years after 2009. The construction projects of residential properties have increased steadily in the previous years leading to approximately 277,000 completed housing units in 2016. In 2015, residential property construction with a total investment of 170 billion EUR accounted for 60% of the total construction volume in Germany. Despite a meaningful increase in the granted construction permits (375,400 granted permits in 2016) and record high levels of completed projects, the demand still significantly surpasses the volume of completed residential projects.
Future outlook expects an increase in new construction permit requests and reaching 272,000 units per year till 2020 and further slowing down to 230,000 units per year until 2030. Meanwhile, in the short term, the residential property could surge to 380,000 units due to increased immigration.
However, the demand levels for residential properties significantly differ from region to region. In some regions, the gap between the demand and available properties could close soon, particularly in Eastern Germany. Meanwhile, in some regions, particularly in thriving urban areas, the available housing units will remain very scarce.
Along with the insufficient supply, quoted rents have increased accordingly. Especially in large cities, the trend of growing rents has been rather dynamic. For example, the annual growth rate of housing rents in Germany has been around 1.7% since 2004. Meanwhile, rent increased by 3.9% and 3.5% annually in Berlin and Munich accordingly. Both cities experienced a 6% yearly growth in purchase prices in this real estate sector.
Office Properties Similarly as residential properties, also office properties’ market is in a good and forward-looking shape mainly due to positive migration balance and historically low unemployment rates. In 2016, approximately 3.9 million square meters of office space was rented in the top 7 cities in Germany. This indicates a growth of 12% in comparison to the previous period. A particularly dynamic development was observed in Frankfurt, Cologne and Stuttgart with growth rates ranging between 25% and 48.4%. Meanwhile, Hamburg, Dusseldorf, Munich and Berlin have experienced a cool-down in floor-space turnover in comparison to previous years.
The overall vacancy rate of office properties has decreased due to several factors: a dynamic demand, a slow expansion of floor space and high pre-letting rates. Across the top 7 cities mentioned above, the vacancy rate decreased by 0.7% points to 4.9%. In the top 7 real estate locations in Germany, the prime office rents range between 21 EUR/m2 and 37.50 EUR/m2 giving an attractive potential for investment return. This especially applies to Berlin, where rents have increased by more than 17% in comparison to 2015 reaching 28.7 EUR/m2. Currently, the highest office rents are in Frankfurt and Munich (37.50 EUR/m2 and 35 EUR/m2 accordingly).
Local investors retain the dominant market position accounting for around 60% of the total transaction activity in office property market. Meanwhile, foreign investors account for approximately two fifths (or 20.9 billion EUR) of the transaction volume.
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In terms of political and civil liberties, Benin is number 1. Citizens of Benin experience total freedom. The majority of countries where citizens enjoy wide civil liberties and political liberties are representative democracies, where officials are directly elected by the citizens to advocate for their needs and wants. Free countries are often empowered by healthy economies and well-functioning governments. Businesses of Benin are 4 in terms of economic freedom. The citizens of Benin are largely not free when it comes to their economic decisions. The government has complete control over the majority of businesses and there is a high level of corruption in the economy. For these reasons, this country is considered unsafe for foreign investment as lenders may not exercise complete control over their own financial decisions. In terms of journalistic freedom, the media of Benin are in a 3. In Benin, journalists face a difficult situation. Censorship is widespread and media not favored by the ruling authorities can be banned.
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Before opening a company, you must have a clear picture of all the advantages and disadvantages of every option in South America and the nearby islands such as Aruba, Bonaire, Curacao and Trinidad and Tobago. Please bear in mind: if you need to incorporate a company in Brazil, make sure you contact us first. There are fundamental differences between private (fundação privada) and public (fundação pública) entities in Brazil.
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23.10.2024 14:19
