Forbes gauged the World’s Best Countries for Business by grading 144 nations on 11 different factors: property rights, innovation, taxes, technology, corruption, freedom (personal, trade and monetary), red tape, investor protection and stock market performance. Denmark scored first, Norway third, Sweden fifth, and Finland sixth. New Zeland was second and Ireland fourth.
The EF English Proficiency Index 2015 (EF EPI) attempts to measure the Worldwide English Proficiency when it comes to English as a Second language. The Nordic countries ranked among the top five in the world: Sweden 1st place, followed by the Netherlands, Denmark, Norway and Finland. This year’s EF EPI report profiles all 70 ranked countries, using test data from 910,000 adult English language learners.
The report reveals a correlation between countries English abilities and innovation metrics such as R&D expenditure and high-tech exports. There is also a high correlation between English skills and quality of life, GNI per capita, and internet connectivity.
As English is widely spoken in the Nordics it will reflect on the ease of doing business. Download our free corporate fact sheets for Norway, Sweden and Finland.
EF Education First is a Swiss based education company specializing in language training. The company was founded in Lund, Southern Sweden.
For full report see: EF EPI
The Nordic countries ranked high in the world for doing business by the World Bank’s annual Doing Business 2016 report.
Surveying a total of 189 countries, the list is widely considered the most authoritative in the world.
The index takes into account regulations that affect facilitating the smooth flow of business. A total of 10 different areas were assessed, included everything from starting a business, to dealing with construction permits, getting credit, paying taxes, trading across borders and enforcing contracts.
Denmark ranked third, Sweden, Norway and Finland as eight, ninth and tenth. repectively
Singapore once again topped the list this year, followed by New Zealand.
On October 7th, 2015 the Norwegian conservative government presented both the 2016 budget proposal and a white paper for a tax reform. The budget proposal as well as the white paper have taken into consideration the proposal from the Scheel Committee delivered to the Government on 2 December 2014.
Some basic points of the 2016 fiscal budget:
• Reduction of the corporate tax rate from 27% to 25%
• Tightening of the interest deduction limitation rule from 30% down to 25% on interest paid to associated companies calculated on interest, taxes, depreciation and amortizations
• Increasing tax deductions allowed for R&D
• The assessment of whether the participation exemption applies at the fund investment level is no longer based on whether the relevant fund qualifies as a bond investment fund and equity fund. Instead, the assessment of whether the participation exemption applies is based on the mix of investments carried out by the fund.
Some basic points of the white paper:
• Reduction of the corporate tax rate down to 22% BY 2018
• Introduction of withholding taxes on interest, royalties, and certain forms of asset leases (in particular bare boat charters)
• The government rejects the Scheel Committee’s proposal to eliminate withholding tax on dividends to shareholders in normally taxed jurisdictions
• An introduction of a statutory general anti-avoidance rule (GAAR) and narrowing the Norwegian concept of a company’s place of residency in line with the Scheel Committee’s proposal
• Possible lowering of the permanent establishment (PE) threshold under Norwegian domestic law
• Changes in CFC rules
• Introducing a withholding tax on outbound interest payments
The Global Competitiveness Report 2015-2016 by The World Economic Forum assesses the competitiveness landscape of 140 economies. Switzerland followed by Singapore and the USA topped the list in this year’s study. Finland’s rank was 8th followed by Sweden as 9th. Norway and Denmark were 11th and 12th in overall rankings.
The Global Competitiveness Report is based mainly on assessments and opinions received from business leaders as well as official statistics, even though other studies are also considered in the analysis of the results. This report is often referred to by politicians, decision makers and various experts.
Grant Thornton, a large international network of independent accounting and consulting firms, just published their annual Global Dynamism Index (GDI) report for 2015 “Going beyond borders: Where to grow your business”. This index combines 22 indicators across five growth areas to rank the business growth environment of the 60 largest economies in the world. Finland shared with Australia the third overall ranking after Singapore and Israel. Sweden ranked as fourth and Norway as 8th. According to Grant Thornton, Finland and Sweden would be the most dynamic economies in Europe from a business perspective. Finland and Sweden ranked high in “Business operating environment” and “Technology”.
In international comparison the strengths of the Nordic countries lies in political and legal stability, a well developed financing environment as well as advanced technology and high R&D spending.
Finland and Sweden should, according to Grant Thornton, offer very good opportunities for you to grow your business.
Download our Corporate Fact Sheets today, for free. You will get a PDF document which is easy to read with an overview of how to establish in Sweden, Finland or Norway. Choose a country by pressing one of the brochures: Download for free! The Corporate Fact Sheet will help you to compare common business forms in each country and you can also read about tax, VAT rate, accounting period, name restrictions and foreign exchange controls etc.
Expand your business to Scandinavia, we will help you on the way. Contact us today!
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