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The EU Blue Card is sometimes compared to the US Green Card. The blue color is said to be the color of the European Union flag, for this reason the map should be blue. Its purpose is to give non-EU/EEA citizens a work and residence permit. It offers people the right to fit into the socio-economic landscape and embark on a path that leads to permanent residence in Europe. Put simply, people can live and work in Europe without restrictions if they have a Blue Card.

Purpose of introducing an EU Blue Card
It was introduced by the European Commission in 2007, proposed and implemented in 2009 and issued by 25 countries that are member states of the EU. According to Eurostat data, in 2016 most work permits issued were registered in Germany (more than 17,000), France (more than 700) and Poland (more than 600).

The second purpose of the EU Blue Card is to make Europe a more attractive destination for professionals from outside the European Union. A special EU Blue Card program has been created for all EU member states with the exception of Great Britain, Ireland and Denmark, which invites highly qualified people to the EU states. This scheme aims to make Europe the world's most popular migration destination.

This can be guaranteed through equal salaries and working conditions for foreigners, freedom of movement within the Schengen area, socio-economic rights, favorable conditions for family reunification, permanent residence prospects and freedom of association. Obtaining the EU Blue Card has several main advantages. These include very high chances of a permanent residence permit, which entitles you to any kind of employment under easier conditions, equal rights and equal opportunities to work in Europe's largest economy and a huge business market, and easy travel opportunities.

Prerequisites for applying for a Blue Card
Although the same basic criteria can apply to all 25 member states of the EU, there are smaller additional criteria that are determined by each member state for itself. In principle, the Blue Card can be applied for if three main requirements are met. These are: non-EU nationality, educational or professional foreigners (highly qualified or skilled workers, researchers, students and trainees) and with an employment contract or binding job offer (seasonal workers, internal transfers). A person can be considered a highly skilled worker if they have an employment contract of at least one year and if they can meet the conditions listed below. If a person is able to meet these mandatory requirements, they will be given an online profile in the EU Blue Card network, which has a dual function – to consult foreigners with employers to offer them an employment contract and to allow foreigners to change their employment contract to submit applications.

In recent years there has been a shortage of workers, which is noticeable in areas such as medicine, technology, computer science (IT), natural sciences and mathematics. This means that foreigners who work in the areas mentioned usually have a better chance of receiving the EU Blue Card.

In addition, a person who is self-employed or an entrepreneur can receive the Blue Card if they have sufficient financial resources, have a business that has a positive impact on the economy of the host country and can generate an economic interest that is active in the host EU -Member State is low.

When applying, it is important to consider the time frame it will take to gather all the required documents. It usually takes 4-6 months to prepare all the required documents. Some countries arrange appointments with the relevant embassies or consulates in foreigners' home countries, others offer online applications that can be filled out by foreigners themselves or their employer or a law firm. It is expected that after applying, the person will have to wait up to 3 months for the processing to be completed.

In general, all jurisdictions can be divided into classic offshore, low-tax jurisdictions and prestige jurisdictions. The prestige of a jurisdiction corresponds to its rank, which is determined by taking into account and evaluating information from the International Sanctions List, the OECD Gray or Black List and the EU Jurisdiction White List as well as data on the development of the financial markets and determining whether the jurisdiction ob FATF AML is deficient and whether there are money laundering concerns. These are the basic criteria that matter in determining whether the jurisdiction is prestigious or not. It cannot be considered prestigious if it is on a financial blacklist.

Austria, France, the United Kingdom, the United States of America and Switzerland are among the top five most reputable jurisdictions for incorporating a company.

A general overview of Austria

Registering a company or start-up in this jurisdiction allows the owner(s) to participate in all projects initiated by the Austrian government. The basic company types available are LLC, ULP, PJSC, PLLC, LLP, and JSC.

Taxes: The income tax rate is 25%, with a minimum corporation tax of EUR 500, plus 20% VAT and a capital tax that varies between 0.8% and 1%. If the subsidiary is registered within the EU, the tax rate on dividend income is 0%; if not, it is 25%.

Austria has agreements with more than 90 countries that enable companies to avoid double taxation. It has no exchange control. This jurisdiction ensures the confidentiality of business data.

A general overview of France

France is a respectable jurisdiction that allows your company to offer products and services bearing the mark of a European company. The basic legal structures available are SP, GP, PJSC, PJSC, LLC, CLS and LLPE.

France offers a number of options: the ability to obtain credit from French banks, the ability to obtain a residence permit, no taxation for companies registered in the country doing business outside of France, and no exchange controls. France has agreements with more than 89 other countries that allow companies to avoid double taxation.

A general overview of the United Kingdom

The UK is considered a respectable jurisdiction due to its high level of legal protection, a simple and transparent tax system, the ability to charge VAT and the availability of nominee services.

The basic company types available in the UK are PC, Limited Warranty Company, ULC and LLC. Again, there are no tax obligations for UK registered companies operating exclusively outside the country. Corporate tax rates depend on profit (between 20% and 24%). The UK has agreements with more than 100 countries that allow companies to avoid double taxation.

A general overview of the United States of America

The US offers a respectable, highly trusted jurisdiction for a company to register, allowing it to offer products and services bearing a US company's trademark. This jurisdiction imposes no tax obligations on entities designated as non-resident and also permits nominee services. There is no taxation for companies incorporated in the country that do all their business outside of the United States.

The basic legal structures available are private contractor, corporation, branch of a foreign corporation, representative office of a foreign corporation, partnership, LLC, joint venture, or LLJSC.

A general overview of Switzerland

The good reputation of this jurisdiction is based on several factors, such as strong business development, a dynamic economy and a track record of innovation. The most important corporate forms available in Switzerland are LLC, ULP, JSC, Commandite Partnership and Subsidiary.

Switzerland offers a high level of confidentiality, the world's leading currency, mechanisms to avoid double taxation, a reasonable tax system with tax rates depending on residence, income level and legal form of the company, tax optimization opportunities and the opportunity to set up service companies that can for the administration of the business activities of the parent company

Every year over USD 1 trillion is distributed worldwide in the form of foreign direct investment. Investments by foreign investors and entrepreneurs are of significant value to the country and are seen as a sign of a healthy economic, political and legal environment. When it comes to investing your money, some countries are simply better than others. It depends on numerous factors such as the country's overall economy and growth prospects, political stability, taxation and the overall legal system, the complexity of starting a business, opening an account and the workforce.

In this article, we summarize three jurisdictions in terms of benefits and other features crucial to foreign investors. These countries have already proven their ability to attract multinationals and other investments, but when it comes to choosing the right place to invest, each country is different and might be better than others in one or more factors.

Singapore
The first country to be analyzed is Singapore, which ranks 2nd among the best countries for investment and 15th among the best countries in the world in the US News Best Countries Ranking developed in cooperation with its international partners.

Located in Southeast Asia, Singapore is a bustling metropolis and home to one of the busiest ports in the world. As one of Asia's four economic tigers, the country has experienced impressive growth in recent years thanks to efficient production and manufacturing processes and innovations in the pharmaceutical and electronics industries. High GDP per capita and low unemployment make Singapore one of the wealthiest countries in the world.

Hong Kong
Hong Kong is a special administrative region of China. While Hong Kong is often considered as a separate entity from China, it is not a country and therefore enters all lists and rankings under the name of China. China takes 26th place among best countries to invest in and 20th place among best countries in general.

Hong Kong’s legal system is characterised by the strict adherence to principles and the rule of law. It operates a free trade economic system and promotes minimal government interference in most sections of the economy. This reflects on the small number of tariffs and duties on traded goods and therefore it is a better place for investments than other parts of China.
Foreign investments are attracted by promoting a favourable investment climate with low taxes, few restrictions and additional incentives to encourage investments. Corporate profits tax rate is 16.5% with a possibility to waive 75% of the tax. There is no tax levied on dividends.
Company incorporation is a simple and fast-forward process. All applications for company incorporation also include an application for the business registry. The application can be submitted online and the processing generally takes one hour (as opposed to four days if the application is submitted in hard copy).

Due to its impressive growth and increasing immigration, Singapore attracts the best professionals to its workforce. The country offers cultural diversity and, with four official languages, is an important gateway for international trade.
The corporate tax rate is 17%, but it can be reduced by taking advantage of numerous government subsidies, incentives, and other programs.
Singapore's legal system is known for its integrity, efficiency and fairness, making the country better than many as a place to start and operate a business. The World Bank Group has recognized Singapore's political and regulatory environment as the most business-friendly in the world.
Other factors:
Least Corrupt Country in Asia;
Best IP protection in Asia;
Most popular country for arbitration in Asia.

United Arab Emirates
The United Arab Emirates or UAE is listed as the 22nd best country in the world and is not mentioned among the best countries for investment according to the above ranking.

Before the discovery of oil in the mid-20th century, the UAE's economy was mainly based on fishing and the pearling industry. The country experienced rapid growth and general transformation along with the start of oil exports in the 1960s. Today the country's GDP can be compared to that of leading European countries and the World Economic Forum has named the UAE the most competitive place in the Arab world.

When incorporating a company in the United Arab Emirates, foreign investors can choose between offshore or onshore registration, whichever is more suitable for the type of company and the activities planned. Onshore registration means that the investor establishes a business presence on the UAE mainland. Offshore registration usually refers to a business presence in one of the UAE's free trade zones.
The UAE does not levy corporate income tax at the federal level. However, most Emirates have some corporate income taxation and can even reach 55% for certain industries. In practice, corporate income tax is mainly levied on gas and oil companies and branches of foreign banks.
Other factors:
The UAE is among the most liberal places in the Gulf with a legal system that allows freedom of religion;
No sales tax or VAT but with plans to introduce it in the future;
In addition to traditional banking, Islamic (or Sharia-compliant) banking has seen tremendous growth in recent times.

The business license is a specific document that enables the conduct of business and operation in a specific business area. Generally, the license is issued by the government, agency, or government agency. The requirement to obtain a license prior to starting a particular business is usually stipulated by law.

Doing business without a license when the law requires it to be purchased is illegal and the government inspector may impose a fine requiring the cessation of activities unless the required license is issued. Licenses usually relate to specifically regulated business areas such as banks, alcohol and cigarette trading, oil business, provision of taxi services, security services, etc. When applying for a license, several requirements must usually be met so that the business is guaranteed carried out with high professionalism and will meet the specific requirements. The overall object of licensing is the protection of public interests such as health and safety as well as the control of strategic or relevant industries.

License and Permission
Many types of businesses require certification or approval in addition to regular licenses. In contrast to the license, the permits relate to the authorization to carry out an activity that is related to and directly related to the activity of the company. For example, a fire safety permit if your company uses flammable materials or if your premises are open to the public, such as restaurants, shops and other public buildings. Permission to use the parking lot if you offer taxi services, permission to start a new construction or renovation, and permission from environmental protection authorities if your company can harm the environment, etc.

Doing business that requires a license or permit
At the company formation and incorporation phase, it must be determined whether a license is required. A license is usually required when providing financial services, such as banking, as the strict regulation of EU law applies. The same applies to other monetary services, which include money transfers, financial institutions, insurance and insurance brokers, trading in bonds and securities, trading in jewelry and gambling. In some jurisdictions, a license for accountants, lawyers, notaries and bailiffs is required. A permit is required for construction work on the site. Another type of sales tax should be applied if some jurisdictions require a seller's license plus registration in the tax register, sales tax payer register or the purchase of a tax-free certificate.

Depending on the type of products, the licenses and permits may be required for different areas, for example, for alcohol trade, you may need a wholesale or retail license, or a license for highly alcoholic beverages and beer. If the company conducts business related to the sale of excise products such as coffee, oil, tobacco, or provides storage services for the above products, these activities require the acquisition of a license.

Pharmaceutical, drug production and activities in connection with addictive and psychotropic substances also require a special license, which usually includes several criteria to be fulfilled, as the activities are directly related to human health care.

License acquisition
Before fully commissioning, the company should determine whether the planned activity requires a permit so that the company can submit an application to the responsible institution if necessary. In order to obtain a license, documents must be drawn up confirming that all criteria have been met. Depending on the type of license, not only conditions may be met for the company, but employees or employees of the company may also have to undergo certain procedures.

After all documents are ready, they must be submitted to the responsible institution. After revising the submitted documents, the institution checks whether the documents comply with the laws and regulations. If so, a license is granted. Purchasing a license often requires payment. The license can be issued for one year, five years or another term as well as for an indefinite period.

Possible penalties for doing business without a license
If the company does business without a license or authorization, the company can be punished by the government officials. First of all, a fine can be imposed on the company as a sanction. Company officials can also be punished. Second, the company's operations can be suspended until the company acquires a license. If the activity is illegal and the company does not meet the requirements for obtaining the license, the company can be permanently suspended or even terminated. If the license or permit has expired, the company may be fined and asked to renew the license as soon as possible.