According to research, 20% of businesses have considered relocating*, however deciding on a city can take up a lot of time - something scarce among business owners. So instead of doing it yourself, SumUp experts have analysed taxes, quality of life, internet speeds, networking opportunities and more, to uncover the best cities for entrepreneurs in the world.

The best cities in the world for entrepreneurs to move to

Rank

City

Country

Number of Millionaires

Personal Income Tax 

Sales Tax/VAT/GST

Capital Gains Tax 

QoL

Broadband Internet Speed Mbps

Network Members Clubs

No. international airports

UK SV for "Moving to (city)"

City SV for: 'How to make it in business'

New business density per 1,000 people

WeWork Locations

INDEX SCORE

1

New York

USA

349,500

10.90%

4.00%

10.90%

132.51

215.72

3

2

2,400

5,130

0.0

37

74

2

London

UK

227,000

45%

20.00%

20.00%

145.43

84.93

11

2

1,600

5,410

18.6

30

71

3

Dubai

UAE

72,500

0.00%

5.00%

0.00%

174.82

235.72

0

1

3,600

7,670

2.5

1

71

4

Singapore

Singapore

244,800

24.00%

9.00%

0.00%

165.42

264.15

0

1

480

2,150

11.3

13

69

5

Hong Kong

Hong Kong 

143,400

17.00%

0.00%

0.00%

134.37

263.07

1

1

140

1,440

21.0

11

67

6

Chicago

USA

120,500

4.95%

6.25%

4.95%

149.1

215.72

1

2

90

2,590

0.0

8

63

7

Abu Dhabi

UAE

24,200

0.00%

5.00%

0.00%

197.22

235.72

0

1

210

2,660

2.5

1

62

8

Paris

France

165,000

45.00%

20.00%

19.00%

137.85

200.99

1

3

320

1,540

6.7

10

62

9

Los Angeles

USA

212,100

13.30%

9.50%

13.30%

135.97

215.72

4

1

210

3,140

0.0

10

60

10

Miami

USA

35,300

0.00%

6.00%

0.00%

163.76

215.72

1

1

480

1,920

0.0

4

59

Dubai named the third-best city in the world for entrepreneurs to move to

The study revealed that Dubai is the third best city in the world for entrepreneurs to live, offering modern architecture and a thriving retail scene. Standing out for its significant tax advantages: no capital gains tax and no income tax even for the highest earners, along with a low VAT of just 5%, Dubai is a great location for maximising profits. 

The entrepreneurial spirit in Dubai is higher than in any other city analysed by SumUp, with monthly online searches for “How to make it in business” averaging at 7,670, as well as 72,500 millionaires already residing in the city making it a great place to network with like-minded individuals, pursuing similar goals.   

Dubai's booming property market and favourable regulations make it a hotspot for entrepreneurs in the real estate sector. It also boasts the highest quality of life score (174.82) among the top five cities. 

Abu Dhabi is the second city in the Middle East to land a spot on the ranking

Ranking as the seventh best city in the world for entrepreneurs is Abu Dhabi, the home to 24,200 millionaires, and offering the same advantageous taxes as Dubai. Abu Dhabi boats the highest QoL score of the top 10 (197.22) as well as a new business density of 2.5 per 1,000 people.

The full study and methodology can be found here.

About SumUp

SumUp is a leading global financial technology company driven by the purpose of levelling the playing field for small businesses. Founded in 2012, SumUp is the financial partner for more than 4 million small merchants in 36 markets worldwide, helping them start, run and grow their business. Through its SuperApp, SumUp can provide merchants with a free business account and card, an online store, and an invoicing solution – as well as in-person and remote payment acceptance seamlessly integrated with SumUp’s card terminals and point-of-sale registers. SumUp is committed to leveraging its success to make the world a better place, pledging to donate 1% of its revenue to support environmental causes and advocating for educational and entrepreneurial projects around the world. In 2023, SumUp was recognised as a Top Global Employer for inclusion by the Stonewall Workplace Equality Index. For more information, please visit https://www.sumup.co.uk