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Thanks a lot for replying. 1) Yes I have tried users and even some people have paid me already to deliver the product when it's done. 4) Macedonia because lab

Thanks a lot for replying. 1) Yes I have tried users and even some people have paid me already to deliver the product when it's done. 4) Macedonia because labour is cheap and I have a friend there who can help me get started with paper works etc. 5 people was an example of what I would be able to spend with the income I have from the other company. I will need an electrical engineer and a web developer at first, two people. Is starting it there a bad idea?

dnh44 7y ago
It's impossible to for me to say if it's bad idea or not. It could be either. I would consider the following points. But first I want to mentioned that the country just recently changed its name to North Macedonia. Do you speak the language? Can you easily get the correct visas to visit and work there? Do you really want to depend on personal favours from a friend to handle the legal part of running a business? You should probably account for the cost of professional legal and accountancy advice for the long term. North Macedonia is one of the best ranked countries (by the World Bank) for ease of doing business. https://en.wikipedia.org/wiki/Ease_of_doing_business_index https://en.wikipedia.org/wiki/Ease_of_doing_business_index North Macedonia is not in the EU yet, so exporting or importing to/from the EU will not be totally frictionless. What would you lose/gain if you just incorporate in your country of residence and hire contractors working remotely in North Macedonia. If the venture is successful, you may well end up spending a large part of your life in North Macedonia. Does that appeal to you? For whatever it's worth I've met someone who lived there for 3 years due to work, and they loved it.