The Global Entrepreneur Visa Index 2025

A Ranked List of Countries Where Entrepreneurs Go to Start a Business

An entrepreneur plans to establish a global business. Where should they go to set it up?

People asked, and we answered. As a leading company formation specialist in the Middle East, we have helped thousands of clients, thus gaining a deep understanding of the region’s regulatory processes and learning what factors matter the most when it comes to business set-up. Subsequently, we created a four-category framework that incorporates these factors and used that to rate various business set-up destinations.

In this article, we study, analyse, and score 15 countries — popular destinations for global entrepreneurs — and rank them on how accessible, affordable, business-friendly, and supportive they are to entrepreneurs, freelancers and startup founders. You’re probably right about the top destination (clue: it’s in the Middle East), but did you correctly guess the countries in the second and third places?

Let’s find out. Here are 15 countries to add to the shortlist of global business registration and start-up destinations.

#1. UAE – 930/1000

Historic Achievement: Unprecedented dominance with 17/20 perfect component scores

• Perfect Categories: Business-Friendliness (100%) + Ecosystem Support (100%)
• Unique Advantages: 0% income tax, 10-day processing, Golden Visa, global hub status
• Best For: Tax optimisers, global entrepreneurs, family relocators, scale-ups
• Competitive Edge: Only destination offering complete tax exemption + fastest processing globally

In top place, the United Arab Emirates got 930 over a possible score of 1,000. It dominates the list by getting a perfect score in 17 of the 20 ranking factors and getting flawless marks in two categories (250 for business friendliness and 200 for ecosystem support). It ranks first in both these categories, plus the accessibility category, where it got a score of 245 out of 250 or 98%.

The UAE tops the list for business friendliness and ecosystem support. Its combination of business-friendly government regulations, systems, and infrastructure gives the UAE its competitive edge.

Its unique advantages include:

• 0% Personal Income Tax: Personal income is tax-free. While the UAE has a federal corporate income tax, it provides an exemption on income up to AED 370,000. Free zone companies also enjoy a 0% corporate income tax rate on qualifying (particularly free zone income).
• Minimal Business Restrictions: Entrepreneurs can have 100% foreign ownership, not only in the free zones but also on the mainland.
• 10-day Processing: Company formation timelines can vary from jurisdiction to jurisdiction, but with an expert company formation consultant’s help, entrepreneurs can get everything set up in 10 days.
• Golden Visa: The UAE has a long-term (five or 10 years), self-sponsored residence visa for investors, entrepreneurs, and outstanding talents. Golden visa-holders can sponsor their spouse(s) and children (regardless of their age), and they do not forfeit their residence status even if they spend more than six consecutive months outside the UAE. The Golden visa makes the UAE a perfect relocation destination. One can qualify for the Golden visa program if they’re investing at least AED 2,000,000 in real estate (could be their UAE family home or their business capitalisation). Entrepreneurs owning a technical or futuristic economic project (commonly known as a startup) valued at AED 500,000 or greater may also get a Golden visa. Start-ups can set up and scale in the UAE.
• Global Hub Status: International shipping, transportation, and logistics facilities and infrastructure, plus a strategic location at the juncture of Asia, Europe, and Africa, make the UAE a global hub of international trade. This makes the UAE a particularly excellent destination for businesses that depend on the reliable international transport of goods.

Business set-up in Dubai is easy with the guidance of a company formation consultant. 

#2. Latvia – 900/1000 

EU Value Champion: Exceptional affordability (97%) with strong accessibility (94%)

• Strengths: No barriers, 30-day processing, low cost, EU market access
• Best For: Budget-conscious EU entrants, digital nomads, early-stage startups
• Strategic Value: Baltic gateway to 500M+ EU consumers at a fraction of traditional costs

Latvia, one of the three Baltic states in Northern Europe, ranks second with a score of 900 out of a possible 1,000 points. It gained 290 points out of 300 in affordability, only 10 points shy of a perfect score, by getting top marks in four out of five affordability components: application fees, investment required, healthcare fees, and total cost impact.

Latvia also attained a perfect score in language-friendliness, educational requirements, and application process simplicity. Regarding language, while Latvian is the official language, about one-third of the population speaks Russian. English is also widely understood and spoken, especially by younger people.

The country does not restrict foreign ownership of Latvian companies. Non-residents and non-Latvian nationals not subject to sanctions can start businesses in Latvia, subject to local laws and regulations.

Latvia’s strategic advantage lies in its location. A Latvian business has access to more than 500 million customers in the European Union. Foreign nationals can also use their business registration to apply for a residency permit and, later, the dependent permits of family members.

Foreign entrepreneurs can apply for residency and obtain a temporary residency card (one-year validity, renewable) armed only with an intent to start a business and a business plan. With a Latvian residence permit, one gains visa-free access to the Schengen Area.

#3. Estonia – 885/1000 

Global Cost Leader: Perfect affordability score with the lowest total cost worldwide

• Digital Pioneer: E-Residency program, advanced digital infrastructure
• Best For: Tech entrepreneurs, blockchain startups, digital nomads
• Unique Position: EU access + cutting-edge digital government + unmatched affordability

Estonia scores 885 out of 1,000, landing it in third place. Like Latvia, it is a North European Baltic state. It excels in affordability, scoring a perfect score in all affordability indicators for a 100% affordability rating.

In fact, it registered the lowest total cost of starting a business ($2,082) among the countries in this list. This is approximately a third of the total cost computed for Latvia. With an 85% business set-up success rate, Estonia is definitely an excellent location for business registration.

Estonia offers an attractive e-Residency program that allows entrepreneurs to register and manage an EU company fully online. E-Residents get a government-issued digital ID, which enables them to access private and public online services. This fully digital business set-up option is made possible through Estonia’s advanced and innovative digital infrastructure.

With an e-Residency set-up, foreign entrepreneurs can scale their business in the EU. E-commerce shops can gain traction in Europe and access to its more than 500 million customers.

Estonia’s e-Residency program offers an easy and convenient path. Note, however, that e-Residency does not come with a permit to live in Estonia. A separate visa is required to do that. 

#4. Lithuania – 885/1000

Baltic Excellence: Balanced strength across accessibility (94%) and affordability (97%)

• Advantages: 30-day processing, minimal barriers, strategic European location
• Best For: European expansion, fintech companies, cost-conscious growth

The third Baltic state on the list is Lithuania, which ranks fourth with a score of 885 out of 1,000. It has the same rating as Latvia in accessibility (235), affordability (290), and business friendliness (220). Lithuania also has Latvia’s strategic value as a gateway to the European Union.

Global entrepreneurs in tech and innovation can apply under Lithuania’s Startup Visa program for startup founders. It provides a streamlined entry path for non-EU entrepreneurs. 

#5. Netherlands – 870/1000 

Startup Ecosystem Hub: Premium European innovation centre

• Strengths: Amsterdam tech scene, 94% accessibility, excellent business environment
• Best For: Funded startups, tech companies, and EU headquarters establishment

The Netherlands in Northwestern Europe scored 870, scoring highly (235) in the accessibility category and garnering perfect scores in language friendliness, educational requirements, and process simplicity components.

The Netherlands grants residence permits to foreign startups with an innovative product or service. Armed with a business plan, global entrepreneurs can apply for this permit and use the one-year residency to live in the Netherlands, launch a company, and grow it from a startup into an actual, operating business.

The mandatory guidance from an experienced facilitator ensures a higher rate of success. The country also has a thriving startup ecosystem, with well-established incubators, accelerators, and co-working spaces to support startup endeavours. The tiered corporate income tax rate, meanwhile, provides a more favourable rate for smaller businesses.

#6. Canada – 850/1000 

Permanent Residency Pathway: Direct route to permanent residency with a family focus

• Excellence: 95% ecosystem support, comprehensive family benefits
• Trade-off: 365-day processing requires patience
• Best For: Long-term settlers, family relocators, permanent residents

Canada in North America ranks sixth with a score of 850/1000 and provides excellent ecosystem support (190/200). What sets it apart is its Start-up Visa, a permanent residency visa for immigrant entrepreneurs.

This requires entrepreneurs to pitch their start-up idea to one of the country’s designated organisations. If the organisation approves, the entrepreneur:

• gets accepted into a Canadian business incubation program; or
• receives the minimum required funding from a Canadian venture capital fund or a Canadian angel investor group.

The Canadian permanent residency option is a big draw for long-term settlers and family relocators.

#7. Portugal – 825/1000 

Lifestyle + Tax Champion: Tax benefits meet Mediterranean living

• Unique Features: 0-20% possible tax rates, excellent quality of life
• Best For: Lifestyle entrepreneurs, tax optimisers, remote workers

Scoring 825 out of 1,000, the southwestern European country of Portugal ranks 7th on our list. It is affordable (250/300) and business-friendly (220/250), plus it’s a lifestyle destination. Its lovely Mediterranean climate, excellent healthcare, high quality of life, and a relatively affordable cost of living make it a top choice for lifestyle entrepreneurs.

Portugal’s Non-Habitual Residency (NHR) program made the country even more attractive to foreign nationals. Under NHR, qualified individuals (including investors and remote workers) enjoyed 0% tax on foreign income and a flat 20% rate on qualifying local income.

The NHR program ended in 2024 and has been replaced with the Tax Incentive for Scientific Research and Innovation Program (IFICI). This has stricter guidelines on eligibility than NHR, focusing on specific domains (tourism, IT, agriculture, R&D, defense, energy, etc.). However, the 0% tax rate on certain foreign income and the flat 20% rate on qualifying local income remain.

#8. Denmark – 795/1000

Nordic Quality: High living standards with a culture of innovation

• Strengths: R&D focus, work-life balance, stable economy
• Considerations: Higher costs but a premium environment

Denmark scored 795 out of 1,000. It has a well-deserved reputation for its premium amenities and high living standards. An excellent work-life balance is assured with the typical 37-hour workweek, the minimum of five weeks of annual leave (plus public holidays), and generous maternity and paternity leave.

Entrepreneurs who want the same lifestyle can get a residence and work permit under the Start-up Denmark program. They can apply for the program based on a business plan and their financial capacity to support themselves and their family members.

Denmark should be particularly attractive to entrepreneurs in the biotech and life sciences space because of its thriving clusters and world-class R&D in these domains. Denmark aims to be completely independent of fossil fuels by 2050.

#9. Finland – 770/1000 

Innovation Excellence: Gaming, telecom, and cleantech leadership

• Hidden Gem: Strong ecosystem despite emerging market classification
• Challenges: Language requirements, 90-day processing

Finland, in 9th place, with a score of 770/1000, offers a strong infrastructure and market access. It has two ready residence permit classifications for foreign nationals who want to start a business.

• Start-up Entrepreneur: The residence permit for start-up entrepreneurs is for owners of recently founded companies who wish to scale in Finland or startup founders who intend to establish a company in Finland.
• Entrepreneur: The residence permit for entrepreneurs whose company does not normally fit the start-up classification.

The above residence permits for entrepreneurs do not limit their bearers’ right to work in Finland. Entrepreneurs can do other work besides managing and operating their business, but their business must be their primary activity and source of income.

Entrepreneurs in the cleantech space will find Finland a particularly good destination because it is technologically advanced and has a highly active community of cleantech enterprises. 

#10. Saudi Arabia – 768/1000 

MENA Pathway: New opportunities for entrepreneurs targeting the Middle East and North Africa markets

• MENA opportunities: Emerging market dynamism with Vision 2030 transformation
• Challenges: Investment requirement cost adds complexity

The Kingdom of Saudi Arabia, with a score of 768/1000, is a business-friendly destination for global entrepreneurs. Scoring 210 out of a possible 250, it got perfect scores in family rights, residency path, and business freedom.

Saudi Arabia now allows the registration of 100% foreign-owned companies. It has also introduced the Saudi Premium Residency program.

• Business Investor Residence Visa: This premium residency visa is for investors in economic activities or part-owners of a business. The primary requirement is owning shares in a Saudi Arabia-based company. 
• Entrepreneur Residence Visa: This premium residency visa is for business owners and start-up founders. A business licence is a requirement.

Premium residency visas cover the residency of the investor or entrepreneur and their parents, spouses, and dependent children. Business set-up in Saudi Arabia can be easy with the help of a GCC company formation specialist. In particular, seek guidance from a company with experienced government relations officers.

#11. Spain – 740/1000 

Mediterranean Opportunity: Lifestyle meets growing startup scene

• Emerging Ecosystem: Barcelona/Madrid tech hubs are improving rapidly
• Requirements: $50,000 investment, moderate restrictions

Spain, which scored 740/1000, is notable for its popularity as a lifestyle destination in the Mediterranean due to its beautiful scenery and relatively lower cost of living (outside major cities). Its EU membership makes it a gateway to Europe and millions of European consumers, while its strategic location allows it to act as a bridge from Europe to Latin America, Africa, and the Middle East.

Spain’s startup scene is booming, especially in Barcelona and Madrid. This growth is expected to grow even further with the government’s initiatives, such as the Entrepreneur Visa and Investor Visa, which also cover the primary visa applicant’s spouse, dependent children, and other relatives. 

#12. Singapore – 720/1000 

Asian Gateway: Premium ASEAN hub with world-class infrastructure

• Market Access: Gateway to 650M+ ASEAN consumers
• Premium Pricing: High total costs reflect quality positioning
• Best For: Asian market entry, funded startups, fintech

Singapore, 12th on the list with a score of 720, has always been a leading destination for global entrepreneurs because of its modern infrastructure and excellent standards of living. It is acknowledged as a top global logistics hub, suited to enterprises that require or demand efficient and effective supply chain management.

Singapore provides exceptional access to the Association of Southeast Asian Nations (ASEAN) market. This is crucial because of the ASEAN region’s more than 660 million consumers, excellent e-commerce growth prospects (more people are online in the ASEAN region than in other regions in the world), and expected market expansion.

You can start a business in Singapore and apply for an applicable residence visa or permit.

• Global Investor Programme: This permanent residence pathway is for investors who want to invest in Singapore or start a business in the country. You must have a substantial business track record to qualify.
• EntrePass: This is for foreign entrepreneurs who have venture-backed enterprises or who own innovative technologies. It is a renewable visa with a term of one year at application, one year at first renewal, and two years at subsequent renewals. 

#13. United Kingdom – 715/1000

Global Finance Hub: Leading financial centre with international reach

• Ecosystem Excellence: 90% ecosystem support score
• Barriers: High investment requirements ($62,500), complex process
• Best For: Fintech, financial services, global businesses

The United Kingdom’s business environment is defined by a 90% ecosystem support score and a perfect score for the ecosystem quality component. More importantly, it is an established global financial hub, one of the world’s largest financial centres in fund management, private wealth management, private equity, venture capital, and banking. It also has substantial and active markets for global securities, derivatives, hedge funds, and insurance.

Entrepreneurs outside the United Kingdom can register as an overseas company with the Companies House if they want to set up a U.K. business from outside the United Kingdom. Those who intend to manage and run their company while living in the United Kingdom can apply for an Innovator Founder Visa or a U.K. Expansion Worker Visa.

• Innovator Founder Visa: This requires an innovative business idea approved by an authorised endorsing body.
• U.K. Expansion Worker Visa: This visa is an option if you have an existing overseas business and you want to set up a branch in the United Kingdom.

#14. Germany – 695/1000 

European Powerhouse: Manufacturing and engineering excellence

• Strengths: Economic stability, industrial focus, strong infrastructure
• Challenges: B1 German language requirement, 90-day processing
• Best For: Industrial businesses, manufacturing, and automotive sectors

Germany scored 695/1000, ranking 14th in our list. It has good ecosystem support, scoring 35/40 in the infrastructure, visa stability, and market access components.

Germany is a top choice for manufacturing companies, particularly in the automotive,  mechanical engineering, chemical, and electrical industries. The thriving manufacturing sector ensures ready support and infrastructure for similar businesses, while Germany’s EU membership ensures European market access.

Germany offers two types of visa for foreign entrepreneurs: the Visa for Self-employed Business and the Visa for Freelance Business.  

#15. Ireland – 650/1000 

English-Speaking EU Gateway: Tech-friendly policies in the EU market

• Corporate Hub: European HQ for major tech companies
• Limitations: Strictest business restrictions, moderate accessibility
• Best For: Established companies rather than early startups

Ireland scored 650 and is a top destination for tech companies that want to set up in Europe, but it requires English as the default language. For instance, if a software-as-a-service company with mostly English-speaking customers can register their tech support arm in Ireland.

Ireland provides access to the European Union, so it is also ideal for companies in other regions (e.g., ASEAN, MENA, North America) that need a European gateway. That said, Ireland is best for established companies because of its strict requirements that hinder accessibility to startups and newer ventures.

Conclusion

Investors, founders, entrepreneurs — the world is their oyster. The default option for a global business set-up is the UAE because of its unrivalled accessibility, business friendliness, and ecosystem support. To take advantage of emerging opportunities in the MENA region, you can also register your business in Saudi Arabia.

Foreign nationals who want cost-effective EU access can register their businesses in Latvia, Estonia, or Lithuania. Lifestyle entrepreneurs will appreciate Portugal and Spain, while cleantech entrepreneurs should consider Finland and Denmark. Established businesses can consider Canada, the United Kingdom, and Ireland.

Methodology

We rated the countries across four categories:

• Accessibility: Possible total of 250 points, 25% of the index
• Affordability: Possible total of 300 points, 30% of the index
• Business-Friendliness: Possible total of 250 points, 25% of the index
• Ecosystem Support: Possible total of 200 points, 20% of the index

Every category has multiple component factors. 

Accessibility

• Processing Speed (50pts)
• Success Rate (50pts)
• Language Requirements (50pts)
• Education Requirements (50pts)
• Process Complexity (50pts)

Affordability

• Application Fees (60pts) – under $500 gets 60pts
• Investment Required (60pts)
• Personal Funds (60pts)
• Healthcare Fees (60pts)
• Total Cost Impact (60pts)

Business-Friendliness

• Investment Flexibility (50pts) – No requirements mean 50pts
• Business Restrictions (50pts) – Minimal restrictions mean 50pts
• Tax Benefits (50pts) – 0% income tax is 50pts
• Family Rights (50pts)
• Residency Path (50pts)

Ecosystem Support

• Government Support (40pts)
• Ecosystem Quality (40pts)
• Market Access (40pts)
• Visa Stability (40pts)
• Infrastructure (40pts) – pertains to business environment quality

The index is a straightforward sum of category points.