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Which Country to Move to If You're Young and Want to Be Your Own Boss

Set yourself up for success abroad.

By

Forget debates about whether you should plant roots on one of the U.S. coasts or flock to the middle of the country to forge a startup hub. If you’re thinking about making a move to pursue entrepreneurship, look beyond American borders.

Lok Yiu Cheung/EyeEm | Getty Images

Expert Market, a U.K.-based B2B product comparison site, recently conducted a study to determine the best countries for young, aspiring entrepreneurs and freelancers seeking a more flexible lifestyle. They examined data from The World Bank, The World Economic Forum, Numbeo, KPMG, Wifimap.io and Akamai’s State of the Internet Report.

One factor the researchers weighed heavily was cost of living -- as well as the cost of a cup of coffee, for hustlers who run on caffeine. They also took income tax rates, access to credit, access to public transportation, the ease of starting a business, average internet speeds and the prevalence of free Wi-Fi into account. Then, they compiled a ranking of the world’s 57 largest countries, based on their suitability for millennials who dream of self-employment. 

Related: The Countries With the Most Determined Entrepreneurs (Infographic)

Hong Kong, a global financial hub, topped the list. It’s public transit system, relatively low personal income tax rate of 15 percent (third-lowest of the 57 countries) and access to credit propelled it to the number-one spot in the ranking. Expert Market also highlighted the United Arab Emirates, which came in fourth place, for being tax-free. 

Five of the bottom 10 countries are in Central or South America, while no countries from this region made the top 10. Half of the countries in the top 10 are European countries. 

If you’re thinking of moving Down Under, consider New Zealand, rather than Australia. The larger Oceanic island nation came in 26th -- it’s more expensive to live there. 

And turns out, if you already live in America, you may want to stay put. The U.S. came in second place, thanks to good transportation, abundant Wi-Fi (more than half a million spots)  and access to credit from banks.

But if you want to get away, check out the full ranking below: 

1. Hong Kong

2. United States

3. South Korea

4. United Arab Emirates

5. United Kingdom

6. Spain

7. New Zealand

8. Estonia

9. Bulgaria

10. Czech Republic

11. Latvia

12. France

13. Portugal

14. Lithuania

15. Qatar

16. Denmark

17. Switzerland

18. Germany

19. Turkey

20. Norway

21. Romania

22. Saudi Arabia

23. China

24. Netherlands

25. Poland

26. Australia

27. Sweden

28. Hungary

29. Finland

30. Mexico

31. Japan

32. Cyprus

33. Chile

34. Panama

35. South Africa

36. Italy

37. Morocco

38. Indonesia

39. Iceland

40. India

41. Croatia

42. Egypt

43. Austria

44. Colombia

45. Brazil

46. Greece

47. Malta

48. Peru

49. Belgium

50. Ireland

51. Costa Rica

52. Slovenia

53. Ecuador

54. Philippines

55. Israel

56. Argentina

57. Uruguay

Related video: Should You Keep Everyone in a Single Office or Hire Remote Employees?

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