No wonder, today developing and selling applications on Google Play becomes more and more popular knowing how profitable it can be. Although, at first it is necessary to register a company for the development of applications. Only after taking this step it is possible to conduct an entrepreneurial activity like this.
Let’s imagine that you have already found an investor who would be interested in supporting a mobile app development though their assets are located in a foreign country. Obviously, now you need to register a development company abroad and also decide which foreign country would be the perfect choice for your business activity. This is why we will now present a few useful tips to you.
Facts to consider
The very first step to take is to select the jurisdiction under which you will open a company.
Conveniently, Google has created its own list of countries: black ones and white ones. To illustrate, Google considers Belize a black jurisdiction; by opening a company there you would ban yourself from ever selling your app on Google Play. Since you now are educated about this nuance, you can save yourself a significant amount money by not repeating mistakes of some other businessmen who registered their companies in a “black” country.
Choice of jurisdiction
It would be an excellent decision to choose one of these jurisdictions to open your firm there:
- Costa Rica;
- Czech Republic;
- Ecuador ;
- New Zealand;
- South Africa;
Of course this list can be completed by other options. Experts from COREDO would help you evaluate your wishes and needs before choosing the most suitable “white” jurisdiction for you.
Your ideal location
The selection of a country mainly depends on your region of interest. If you prefer the Asian region, think about setting up a company in Hong Kong or Singapore. However, for those interested in Europe primarily our suggestion is to choose Switzerland or Luxembourg for registering your business. We recommend these countries specifically because of their approach towards foreign investor: taxation regime is comfortable and other benefits are numerous. Additionally, management costs would be not so high there as well as other discomforts such as reports, inspections, and pension funds will be minimal. On the top of that, it is important not to forget about the local requirements of the country where the virtual company’s servers will be situated. This aspect is crucial as the servers are the main asset for a virtual business.
To learn about more countries with low tax rates and welcoming environment contact COREDO and sign up for a personal consultation. After a personal meeting we will be able to recommend a jurisdiction for your future company based on your specific case.