Expat Locations That Offer the Most Opportunities for Entrepreneurs

As the world evolves, opportunities to work abroad are getting more and more common. Countries are offering digital nomad visas, allowing people to live abroad while working for their home country, but there are also a lot of opportunities available to then entrepreneurs of the world. There are hubs around the world, developed and developing countries, that are looking for exactly you to revolutionize their business. 

If you have a business idea but you’re sick of the climate at home, or you think it’s better suited elsewhere, take a look at our list for the best countries for expat entrepreneurs. 

United Arab Emirates

It’s no secret that Dubai is developing rapidly. The city has become the Las Vegas of the world, with casinos and landmarks popping up all over. The city is also aiming to appease Westerners in their country by relaxing some of the social laws concerning etiquette in order to attract tourists. 

So, while the name of the game might be the commercial business to foster a booming tourist attraction, there are a lot of applications available with a growing and ever-changing audience ready to grab onto whatever you are offering. 

The famously lax tax regime is an attractive concept to expats and entrepreneurs, allowing business to blossom in a notoriously strict part of the world. There is no personal tax, no corporate tax, or tax on profits, allowing a lucrative business venture to thrive. However, there are a few restrictions to consider before you pack your bags, like the fact that a local to the country must be the majority shareholder in a Dubai-trading customer.

If that doesn’t put you off, you can pick up your one-year virtual working program visa, which the UAE is distributing to attract digital nomads into the area, and head to Dubai to get started. You can bring your family and will have access to facilities like telecoms, utilities, and schools. 

Singapore

Being at the very tip of Southeast Asia, Singapore is an important trading location for the rest of the continent. Singapore has managed to take its crucial role in trading and turned itself into a bustling small country with an iconic skyline full of business skyscrapers. The main industries in Singapore are business and finance, and it’s probably telling that their official language of business is English. 

This, combined with the influence of neighboring countries coming and going, has created a diverse culture that appreciates the concept of networking. The nearby countries have left their mark on the food and culture of Singapore but rely on the country for the fruit of its entrepreneurial spirit. This means that Singapore is the business capital of Asia with a lot of opportunities available. 

However, moving to Singapore takes some forethought. Do not expect to arrive in Singapore on a traveling visa and find a job once you get here. Singapore has strict visa restrictions and a stellar educational system resulting in highly educated civilians all vying for the same jobs. 

But Singapore is welcoming to the highly educated or experienced. If you have a job lined up, you are recommended to come over and rent your accommodation before you buy, allowing you to shop around the mix of block apartments and traditional bungalows. If you are looking to buy, click here to use our estamping iras, or Stamp Duty Calculator and find out what the rates are for the Buyer’s Stamp Duty or Additional Buyer’s Stamp Duty. 

Panama

Panama has a good reputation with expats, since its cost-of-living rate is low but its quality of life is quite high, making for some comfortable living. Despite a mid-level ranking on the World Bank Doing Business 2015 report, it has been reported to be a good place to start a business due to the country’s pool of qualified but affordable labor workers. 

Unlike what some might be expecting from a South American country, Panama has a robust economy based on USD, a stable government, and many free trade agreements. This is all due to the Panama Canal which is one of the most crucial trade areas in the world, serving as the crossroads of trade for North and South America. 

If you like the idea of Panama, you can look into the “Friendly Nations” visa program, which allows a limited number of countries’ civilians into the country permanently. 

For comparison, rent in Panama can range from $375 to $1,200, with the homes in Panama City offering a chilled but bustling vibe along the same lines as Miami. The city has a lot of younger expats working in well-paying jobs and ongoing restoration on the city has made for some attractive accommodation for potential expats. However, the cheapest area to live in would be Bocas del Toro, which is on the more Caribbean side of Panama.