Although most gaming entrepreneurs are tempted to start their business plans by looking at options in their home country, it may actually put them at a disadvantage. Maybe they live in a location with a high tax rate. Or their home country simply doesn’t have a high enough Gross Domestic Product (GDP) to run a prosperous business. The smart thing to do would be to shift your activities to a more suitable country.
For example, choosing a hotbed for the gaming industry gives you the benefit of building the company up in a supportive environment. If you need the most talented staff, they’re usually located in countries with the highest number of game development companies per capita.
But sometimes, the speed of processes is the most important factor. When setting up an online casino for games like Double Triple Chance, you’d want to pick a country where obtaining a gaming license goes quickly.
This article brings you a list of different countries that are perfect to start a gaming business for a variety of reasons. Ready? Let’s dive in.
1. Start Business Digitally in Norway
Everybody knows that the Scandinavian countries can boast strong economies. But starting a business after the lockdown in Norway has an additional benefit: everything can be done via the Internet. Registering takes little time, and the tax laws are easily understandable. What’s more, if you need some additional highly skilled staff to handle the IT or finance jobs, you can find them from Norway.
It’s no wonder that a large number of international businesses have chosen Singapore for the location of their headquarters. Singapore is not only one of the richest countries in the world, but it’s also politically stable and has excellent workers. It comes with a plethora of trade opportunities and gets this: there’s no dividend tax on an individual. How sweet is that?
3. United States
The United States is a great country for business. The workforce has all the different skills you would ever need for your company. Plus, there’s no shortage of various funding sources. Angel investors, venture capitalists, banks, and investment firms are all ready to back up great business ideas.
But what’s the best state to do business in? It depends. The residents of the United States are generally advised to stay in the state they reside in. And what if you’re not a resident? Then you can do business in Delaware. That’s right. If you want to create a Delaware business, you can start from your home wherever you are.
4. New Zealand
The great thing about starting a business in New Zealand is that a lot of the usual taxes don’t exist there. No capital gains, social security, or payroll taxes. In addition to that, the labor costs are very low. This means that your business can start with little money and grow the revenues confidently. A bonus is that getting your business up and running takes less than a day.
5. Finland – the Best Place to Start a Video Game Company
Do you know that in the past few years, Finland has become a hub of video game development? And the reason for this is great governmental support and lots of talented people. Redlynx, Supercell, and Ravio are all big gaming companies operating from Finland. And while the taxes are high, the benefits of Finland’s social system (universal healthcare, free higher education, etc.) balance it out.
nd if you’re looking to start a gaming business without inventory, you can start small by setting up a blog. If you’re good at playing games, then you can write some interesting articles about your favorite titles. Teach the readers some tricks that get them to the next level faster.
Look: starting a business for beginners is never easy. But you can greatly increase your chances of succeeding by choosing the right country. In some places like Singapore or New Zealand, the taxes are so low you’ll end up keeping more money to yourself than in most European countries. Finland has a great supportive environment for certain industries like gaming, for example. But the bottom line is this: your brand deserves the best. And sometimes “the best” means starting the business in another country.
Which country seems the best option for your undertaking? Leave comments below, and let’s continue the discussion.