The world is becoming more interconnected than ever before. This brings a set of opportunities not only for big corporations, but also small and medium-size enterprises that can expand their businesses globally. When carefully planned, entering new markets can not only increase profits, but also reduce risks while rocket-launching growth on an international scale. However, the difference among jurisdictions, market specifics, customs, traditions and the business environment in general significantly affect which country has the best to offer and which are providing less benefits to specific types of businesses.
The overview was created in cooperation with our global business community Accace Circle, providing basic yet valuable information from 13 countries. The infographic layout allows you to quickly breeze through the specifics and compare key data that may be crucial for your ambitions of international expansion.
Download the free PDF version of international expansion guide and get access to the full overview, or scroll down for some selected data below.
How we can help
Entering a new market can be a piece of cake with the right partner by your side. Whether you are just about to expand your business or you are starting from zero with entrepreneurship, our team of local experts can help you design the right business solutions for you. We specialise in providing full-range advisory and BPO services to keep your tax, legal and corporate agenda, accounting, reporting, payroll and HR operations not only effective and accurate, but also 100% complaint with your local duties and regulatory requirements.
Most common legal form of business
Incorporation time
Bosnia and Herzegovina
Bulgaria
Czech Republic
Estonia
Greece
Hungary
Poland
Montenegro
Romania
Serbia
Slovakia
Turkey
United Kingdom
Incorporation fee
Bosnia and Herzegovina
Bulgaria
Czech Republic
Estonia
Greece
Hungary
Poland
Montenegro
Romania
Serbia
Slovakia
United Kingdom
*Depends on the nature of the legal form of the company; duty free for LLC
*Depends on the structure of the company and ownership
No costs specified for Turkey
CIT rates
Bulgaria
Czech Republic
*On certain investment fund profits, 0% on pension funds
Estonia
**Automatically applied to the amount of profit distributions, which are equal or less than average distributed profits of the last 3 calendar years, on which the company has paid the CIT
Federation of Bosnia and Herzegovina
Greece
Hungary
***On the income of energy suppliers
Poland
Montenegro
Republic of Srpska
Romania
****On the revenue of gambling companies and nightclubs or 16% on the taxable profit, based on which is higher
Serbia
Slovakia
*****On annual taxable revenues below EUR 49,790
Turkey
United Kingdom
******On profit over GBP 50,000 but below GBP 250,000
Tax period
VAT rates
Bulgaria
0% on the export of goods and services
Czech Republic
Estonia
0% on the export of goods and services
Federation of Bosnia and Herzegovina
0% on the export of goods and services
Greece
Hungary
Poland
Montenegro
Republic of Srpska
0% on the export of goods and services
Romania
Serbia
Slovakia
0% on the export of goods and services
Turkey
United Kingdom
0% on specific goods
PIT rates
Bulgaria
*On income acquired in a seafarer capacity
Czech Republic
**15% on annual income up to CZK 1,867,728 (in 2022), 23% on annual income above CZK 1,867,728 (in 2022)
Estonia
Federation of Bosnia and Herzegovina
Greece
***Based on income
Hungary
Poland
****Based on income
Montenegro
*****Based on income
Republic of Srpska
Romania
Serbia
******Based on the type of income
Slovakia
*******19% on annual taxable income below EUR 38,553.01, 25% on annual taxable income exceeding EUR 38,553.01
Turkey
********Based on income
United Kingdom
*********0% on annual income below GPB 12,570; 20% on annual income between GPB 12,570 – GBP 50,270; 40% on annual income between GBP 50,270 – GBP 150,000; 45% on annual income above GBP 150,000
Social security contributions
Bulgaria
Paid by employer
Paid by employee
Czech Republic
Paid by employer
Paid by employee
Estonia
Paid by employer*
Paid by employee
*In addition, 0.8% unemployment insurance contribution is paid by the employer
Federation of Bosnia and Herzegovina
Paid by employer
Paid by employee
Greece
Paid by employer
Paid by employee
Hungary
Paid by employer
Paid by employee
Poland
Paid by employer
Paid by employee
**The accident insurance varies based on the business sector
Montenegro
Paid by employer
Paid by employee
Republic of Srpska
Paid by employee
Romania
Paid by employee
Serbia
Paid by employer***
Paid by employee
***In addition, 0.75% unemployment insurance contribution is paid by the employer
Slovakia
Paid by employer
Paid by employee
Turkey
Paid by employer
Paid by employee
United Kingdom
Paid by employer****
Paid by employee*****
****0% on income up to GBP 9,100 per tax year
*****0% on income up to GBP 12,570 per tax year
Health insurance contributions
Bulgaria
Paid by employer
Paid by employee
Czech Republic
Paid by employer
Paid by employee
Estonia
Included in the social security contributions
Federation of Bosnia and Herzegovina
Paid by employer
Paid by employee
Greece
Included in the social security contributions
Hungary
Included in the social security contributions
Poland
Montenegro
Included in the social security contributions
Republic of Srpska
Paid by employee
Romania
Paid by employee
Serbia
Paid by employer
Paid by employee
Slovakia
Paid by employer
Paid by employee
Turkey
Included in the social security contributions
United Kingdom
Included in the social security rate
Our service portfolio covers:
- Market entry
- Tax advisory and tax compliance services: Tax registration and refunds | Non-residents and Global mobility | Personal income tax | Advisory online portal
- Legal advisory: Corporate law | R&D | Banking and finance | Insolvency, restructuring and bankruptcy | Intellectual property | GDPR | Compliance programs | Labour law | Commercial and civil law | Other legal services
- Accounting and reporting services | Accounting Portal
- Payroll and HR administration services | Payroll portal
- Transaction advisory: Due diligence | Mergers and acquisitions
- Transfer pricing services
- Corporate and secretarial services: Company establishment | Domiciliation services | Representation services | Full range corporate secretarial support
- Online consulting
- Ready service packages
