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Top 5 Countries For Nigerians, Other Foreigners Looking To Start A Business Abroad

Published

6 months ago

February 21, 2025

Editor

Starting a business in foreign countries can be a game-changer, but choosing the right destination is crucial.

This guide highlights the best countries for international entrepreneurs based on business-friendly policies, low taxes, and market access.

Top Countries for Foreign Entrepreneurs

1. Singapore

Singapore is one of the top choices for international entrepreneurs due to its strategic location, strong economy, and business-friendly environment. The country offers a stable political climate, world-class infrastructure, and a highly skilled workforce, making it an attractive destination for startups and multinational companies alike.

One of Singapore’s biggest advantages is its low corporate tax rate of 17%, with multiple exemptions for startups, including the Start-Up Tax Exemption (SUTE) scheme. In addition to its favorable tax policies, Singapore provides a highly efficient business registration process, allowing companies to be incorporated within a day.

Singapore also boasts extensive trade agreements, making it easier for businesses to access global markets. These agreements simplify import/export processes and reduce trade barriers, helping businesses scale faster. The government further supports innovation through grants and incentives, making it an ideal location for startups and tech firms.

2. Hong Kong

Hong Kong is another top destination for entrepreneurs due to its strategic location and business-friendly regulations. As a major financial hub, Hong Kong offers a low and simple tax system, with a corporate tax rate capped at 16.5%. There is no VAT, capital gains tax, or withholding tax, making it highly attractive for business owners looking to maximize profits.

Hong Kong’s proximity to Mainland China provides businesses with direct access to one of the largest consumer markets in the world. The city also has a transparent and well-established legal system based on British common law, offering strong protections for businesses and intellectual property.

Setting up a business in Hong Kong is a seamless process, with minimal bureaucracy and a fast incorporation process. Entrepreneurs can establish a company within days, and there are numerous government initiatives supporting business growth, particularly in finance, technology, and trade.

3. United Kingdom

The UK is an excellent choice for foreign entrepreneurs due to its strong economy, well-developed infrastructure, and business-friendly policies. It has one of the most competitive corporate tax rates among G20 countries, making it attractive for startups and established businesses alike.

The UK is committed to fostering innovation and research, offering numerous incentives for businesses in technology, healthcare, and finance. The government provides tax relief for R&D investments, and various startup accelerators and funding programs are available to help businesses grow.

Another key advantage of doing business in the UK is its skilled workforce. The country has introduced new visa routes, such as the High Potential Individual and Scale-up visas, to attract global talent. Operating in an English-speaking environment simplifies communication and global expansion, making it more attractive to a wider foreign audience.

4. New Zealand

New Zealand consistently ranks high in the Ease of Doing Business Index, thanks to its straightforward company registration process, stable economy, and supportive business environment. Foreign entrepreneurs can set up a business in as little as a day, with minimal regulatory hurdles.

The country offers a high quality of life, government-funded universal healthcare, and a favorable work-life balance, making it an attractive location for business owners and their families. Additionally, New Zealand provides access to key markets in the Asia-Pacific region, allowing businesses to expand easily.

Government support for businesses is strong, with initiatives aimed at helping startups succeed. New Zealand also has a strong focus on sustainability, making it an excellent choice for entrepreneurs in green technology, agriculture, and renewable energy industries.

5. United Arab Emirates

The UAE is a major business hub with numerous advantages for entrepreneurs. One of the biggest attractions is its zero corporate tax policy in many free zones, allowing business owners to retain more of their profits.

Located at the crossroads of Europe, Asia, and Africa, the UAE offers unparalleled strategic access to international markets. Dubai and Abu Dhabi serve as global trade centers, making them ideal locations for logistics, finance, and technology companies.

Setting up a business in the UAE is quick and efficient, with various free zones providing incentives such as full foreign ownership, repatriation of profits, and streamlined visa processes. The country’s world-class infrastructure and business-friendly laws further enhance its appeal.

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S’Africa Offers US New Trade Deal To Avoid 30% Tariff

Published

11 hours ago

August 12, 2025

Editor

South Africa will offer a “generous” new trade deal to the United States to avoid 30 percent tariffs, ministers said Tuesday.

Washington on Friday slapped the huge tariff on some South African exports, the highest in sub-Saharan Africa, despite efforts by Pretoria to negotiate a better arrangement to avoid massive job losses.

The ministers did not release details of the new offer but said previously discussed measures to increase imports of US poultry, blueberries, and pork had been finalised.

“When the document is eventually made public, I think you would see it as a very broad, generous and ambitious offer to the United States on trade,” Agriculture Minister John Steenhuisen said at a press briefing.

Officials have said the 30 per cent tariff could cost the economy around 30,000 jobs.

“Our goal is to demonstrate that South African exports do not pose a threat to US industries and that our trade relationship is, in fact, complementary,” Trade Minister Parks Tau said.

The United States is South Africa’s third-largest trading partner after the European Union and China.

However, South African exports account for only 0.25 per cent of total US imports and are “therefore not a threat to US production”, Tau said.

Steenhuisen said US diplomats raised issues related to South African domestic policies, which was a “surprise given the fact we thought we were in a trade negotiation”.

The two nations are at odds over a range of policies.

US President Donald Trump has criticised land and employment laws meant to redress racial inequalities that linger 30 years after the end of apartheid.

“Things like expropriation without compensation, things like some of the race laws in the country, are issues that they regard as barriers now to doing trade with South Africa,” he told AFP on the sidelines of the briefing.

“I think we’re seeing some form of a new era now where trade and tariffs are being used to deal with other issues, outside of what would generally be trade concerns,” Steenhuisen said.

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Over 600 Pilgrims Hospitalised After Chlorine Gas Leaked In Iraq

Published

2 days ago

August 10, 2025

Editor

More than 600 pilgrims in Iraq were briefly hospitalised with respiratory problems after inhaling chlorine as the result of a leak at a water treatment station, authorities said on Sunday.

The incident took place overnight on the route between the two Shiite holy cities of Najaf and Karbala, located in the centre and south of Iraq, respectively.

This year, several million Shiite Muslim pilgrims are expected to make their way to Karbala, which houses the shrines of the revered Imam Hussein and his brother Abbas.

There, they will mark the Arbaeen — the 40-day period of mourning during which Shiites commemorate the death of Hussein, grandson of the Prophet Mohammed.

In a brief statement, Iraq’s health ministry said, “621 cases of asphyxia have been recorded following a chlorine gas leak in Karbala”.

“All have received the necessary care and left the hospital in good health,” it said.

Security forces charged with protecting pilgrims, meanwhile, said the incident had been caused by “a chlorine leak from a water station on the Karbala-Najaf road”.

Much of Iraq’s infrastructure is in disrepair due to decades of conflict and corruption, with adherence to safety standards often lax.

In July, a massive fire at a shopping mall in the eastern city of Kut killed more than 60 people, many of whom suffocated in the toilets, according to authorities.

AFP

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PHOTOS: US Soldier Searching For Her Nigerian Father

Published

2 days ago

August 10, 2025

Editor

Old photos of Zainab James Parents, Lateef Quadri and Claudine James. Credit: Facebook

A US soldier, Zainab James, has launched a public search for her Nigerian father, identified as Lateef Quadri

The 31-year-old took to Facebook on Sunday to share old photographs of her father and her late mother, Claudine James, including one where Claudine was pregnant with her.

According to Zainab, her mother became pregnant in 1993, and she was born in 1994. Sadly, she lost her mother.

Old photos of Zainab James Parents, Lateef Quadri and Claudine James. Credit: Facebook

In her post, Zainab wrote, “Update: Mother’s name : Claudine James, born Decenber 9, 1969 in Montego Bay, Jamaica (deceased) , Hey All! A real shot in the dark but why not! My mom(pictured) got pregnant with me in 1993 ( I was born 1994) while living in Brooklyn New York. I’m looking for my father or any of his family. All I know is he was Nigerian, possibly named Lateef Quadri or something like that. They didn’t have a long term relationship as he wasn’t present at my birth but he did choose my name. No one in my family met him either. Apparently she was friends with his sister who worked in a jewelry store with her.”