Have you been thinking about investing your hard-earned money but you have been struggling to find an adequate market suitable for the implementation of your business ideas? The answers for your wanderings might be not as complicated as you think they are since there are numerous reasons to consider one of the Baltic states as a place of your investment for the sake of beneficial conditions offered to foreign investors and also because of the access to already worked up markets.
Since the Baltic States joined both European Union and NATO in 2004, these states have been a haven for investors seeking new markets to invest in, especially because of various economic reforms that have been adopted over the years. The reforms are performed in order to attract foreign capital and provide profit both for the investors and for the local economy. On the other hand, by both enabling large corporations and small entrepreneurs to try to be a part of a rising economy these states are famous for, local governments enabled the job market to flourish as well.
Although different countries have access to the Baltic sea, only Latvia, Lithuania and Estonia are proud to be called the Baltic states. The specific geographical location of these three European countries allows them to enjoy the privileges of both land and sea trading, making them ideal for different goods in terms of shipping in and out of the region.
In order to bring you closer to what the actual reasons to invest in Baltic states are, we have prepared the following text so you can see it for yourself. Comparing Baltic states to other fast-growing regions is desired only if you intend on calculating the difference between potential revenues. Moreover, deciding which state of the three Baltic pearls is ideal for your business is a more recommended approach to obtaining an adequate solution for your cause.
Since the Baltic states are proud members of the European Union, there are numerous benefits you can enjoy if you decide to deal with business in this region. Not only can you experience positive sides of an open market where even a part of Europe that has not yet been approved the membership within the EU is available. Therefore, you could easily place your product without having to pay additional taxes but you would be privileged with the opportunities enabled by international laws regarding the Member States. Having an ideal product or providing ultimate service is only half of the job since the other half implies you have the access to the market where your services would be placed. Therefore, access to the free market is what should be considered as one of the most valuable assets of doing business in the Baltic countries.
Having a business established in one of the three Baltic states is good not only because of the free market and the European Union, but for the sake of traditionally good relations of these countries with the United States. Bearing this in mind, you can utilize various opportunities offered only in this part of the world because of the specific history of these countries and the benefits their foreign policy enables to the business people willing to invest in them.
Taxes and Incentives
The governments of Letonia, Lithuania, and Estonia do not have a unified approach to dealing with foreign investors, but they all have similar strategies. Therefore, they offer various incentives to serious entrepreneurs willing to do business from within their countries in order to promote their industry and increase productivity. The incentives vary and they are conditioned by numerous segments, but they turn out to be profitable for both the investors and the economy of the state in question.
As the incentives, so are the taxes a foreign investor has to pay customized to fit the different ways of doing business. Namely, what is especially important to highlight is that there are various tax relieves offered to foreign investors if they succeed in meeting various criteria and deliver their side of the deal with local governments. Not only that this is beneficial for the investor, but also the government since in that way country acquires funding for the different projects that would otherwise remain underestimated.
Although one of the key features of Baltic states that are interesting for the investors is their position and the access to the global markets enabled by the EU membership, other important factors are luring the investors from all around the world. One of those factors is definitely the existence of different types of infrastructure suitable for both large and smaller business ventures and the affordability of that same infrastructure. When compared to the rest of the European Union, especially to the countries like France and Germany, the difference in the price of the supporting buildings required for different businesses is unreal.
The Growing Economies
Although the global situation with the Coronavirus and the recent pandemic outbreak has shaken economies worldwide, this particular region enabled its economic stability and supported entrepreneurs doing business in their countries. The results do not fail to impress since the prices continue to work in the favor of investors, making both real-estate and industry values to rise despite global trends. Failing to be a part of the industry that constantly develops and keeps its trends in a constantly growing fashion sounds like a poor business decision. Therefore, acting in a timely matter might prove crucial to later satisfactory profit-making while working without pressure and being backed-up by local authorities.
Which Country Would Work Best for Your Cause
When talking about Latvia, Lithuania, and Estonia, they are countries with good neighboring relations and are striving for the same goal, and that is to make the most out of the opportunities they encounter on their way to the top. Apart from that they have certain joint ventures, their business strategies differ, but you could easily say that they compete in offering the best deals for foreign investors and offer tempting business proposals. You can find useful information about what makes Latvia stand out from the Baltic state crowd and learn more here about how and what it actually offers.
Investlatvia.net is a website that provides consultancy services in this beautiful country, and they can assist you with any questions regarding business and investing. In case you have just discovered this country as a great opportunity for investments, you need someone experienced by your site to help you make your first steps.