If you're interested in starting your venture abroad, there is no better option than Berlin. Besides being an amazing, international city with easy access to markets in Europe, the city also aims to be the most popular destination for startups. SoundCloud, GetYourGuide, and Rocket Internet are a few of the successful companies that have made their home there.
Germany, and the EU as a whole, are becoming more welcoming to new businesses. With new pressure to compete with the U.S., it's also a solid bet that businesses would prefer a lower cost of living than San Francisco, where rent is 237% more costly than in Berlin.^6
Germany's tax incentives are available to those opening a new business. They've reached their 2017 goal of contributing 3% of their GDP to this purpose and look to increase this to 3.5%.^1 It's also easier in Berlin to hire from abroad. With a starting salary of only 52,000 Euros, certain employees can apply for a Blue Card, modelled on the Green Card in the U.S. The minimum salary needed for a Blue Card is higher in many other cities in the EU.
Berlin has a great deal to offer. For staff, it bolsters a high quality of life with a relatively low cost of living to that of other European capitals. There is growing demand for software engineers, with more than 1,800 jobs currently open, according to Glass Door. ^3
There's also access to capital. There are over 15 venture capital firms in Berlin^4, accelerators, and dozens of networking opportunities. The largest tech events are held here, such as TechCrunch Disrupt and Open Air Tech^5 and over 12 relevant, regular meetups on Meetup.com.
If you're an American starting a business or interested in a new job overseas, Eureka Wealth Management can help. There are many factors involved with moving abroad while maintaining compliance with the IRS and other US regulations. I coordinate with your international tax advisor to make sure that you're maximizing your potential to save and prepare for the future. Call me for a free, initial consultation at (760) 537-0791 or online at eurekawealthmanagement.com.