07 Sep 2010
When it comes to foreign technology companies looking to set up in Europe, the UK, and more specifically London, is the most attractive location.
The findings of the 8th annual Ernst & Young European Attractiveness Survey show that in 2009 the UK attracted 119 software projects from foreign direct investment (FDI), the largest number secured by any country in Europe and 17 more than it secured in 2008.
Further reading
London secured 49 software investments in 2009, easily outstripping Paris, which was second with 20, and third-placed Munich with 11. Cambridge, frequently referred to as Silicon Fen because of its cluster of high-tech firms led by ARM, was 10th.
Good infrastructure, a workforce with the right skills, a strong domestic market for technology and a sound reputation are the key reasons for the UK’s success, says the report.
“The UK is extremely well positioned to secure more of this investment,” said
Karl Havers, EMEIA technology leader at Ernst & Young. “We have the right
skills,
infrastructure and reputation to retain our position top of the table.
“In addition, the UK maintains a strong domestic market for software products
and services worth more than £8bn a year, with healthy growth rates
forecast until 2013,” Havers added.
The majority of technology FDI comes to Europe from the US. The US invested 55 new missions into the UK software sector in 2009; five times more than Germany (10 missions) followed by France (9), Sweden and the Netherlands (both on 8).
But the UK’s supremacy will not last forever, warns the report, as emerging economies will become more attractive as they develop.
“The global economy is evolving fast, with China, India, Brazil and the Middle East joining the traditional players of North America, Europe and Japan as both the destinations and sources of global investment,” said Havers.
“With capital now clearly flowing in multiple directions, we need to
continue to excel in our core competencies, as well as encourage further
development of policy which is pro business and pro entrepreneurship,” he added.
Clean-tech and creative industries are likely to emerge as the UK’s strongest suits in the future, the report says.
First of all congratulations for this useful post. I want also to say that the best place for European company incorporation is Cyprus.
Cyprus imposes the second lowest tax rate for individuals and the lowest taxes on corporate profits among the euro area countries, according to data published by Eurostat. The maximum tax rate for individuals in Cyprus is 30%, while the average in the eurozone is 42.4% and 37.5% in the EU. Regarding the tax on corporate profits, the rate in Cyprus is 10%, while the average in the eurozone is 25.7% and in the EU 23.2%. In addition, Cyprus is one of the most advantageous places of residency for Russian and Ukrainian companies. Also It offers a high level of banking, auditing, accounting and legal services, which developed Cyprus into a successful international business and financial centre.
For more info please visit:
http://www.pmcorporatelaw.com/company-in-cyprus-company-incorporation-cyprus
Posted by: Teo Nikolaou 10 Mar 2011
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