There are many aspects to consider when comparing different countries where you can set up your business. Although it highly depends on the company structure and business activities, each country has its own procedures and requirements that can facilitate or, on the contrary, complicate the operation of your company. These aspects can be related to the tax policy, hiring of employees and even the political stability of the country. Equally important is the process of incorporation of the company. Each country has its own process, timeline and requirements to follow when starting a business and often these processes indicate the level of bureaucracy and business environment in that jurisdiction.

Various jurisdictions offer the opportunity to go through the company formation process online, which means it takes less time and effort and the entrepreneur is able to set up his or her business from anywhere in the world without leaving their home or office . This is beneficial for the entrepreneur as the incorporation process usually takes less time and the company can start operating sooner. It also points out that the jurisdiction has advanced information systems and other government services are most likely available online as well.

South Africa
South Africa is one of the jurisdictions where you can register your company online in a few simple steps:

Select your preferred type of company and fill out the relevant application form online. You will then receive a confirmation email with a payment reference number.
The first available company name will be reserved with the Companies Commission and the application for incorporation with the reserved name and other documents will be filed for registration.
You will receive a company registration certificate COR14.3 with company tax number by email. You will also receive an email with links to download your company registration documents.
With your COR14.3 company registration certificate, you can open a commercial bank account and also apply for a tax clearance certificate and/or an affidavit.

Australia
Australia also offers to register your company online. This is currently a beta service and is still under development, but it is already possible to integrate your business online. The online business registration service is currently available for new businesses starting as a joint venture, sole proprietorship, trust, company or partnership who can apply for a company name, ABN (Australian Business Number) and business and tax registrations. Pension funds can also use this online service in the future. This service is also available to existing companies with an ABN and can apply for tax registration or an AUSkey login. The Australian online business registration service is organized in three simple steps:

Complete an online application and select an available company name. The company name search engine is available online for free.
Complete a registration fee and file the application for incorporation with ASIC (Australian Securities and Investments Commission) and you will receive an email confirming your filing.
You will receive an ACN and ASIC certificate by email within 2 minutes along with the company register and tax receipt. If you have also requested an ABN, you will receive this via email within 1 hour during business hours. If domain names have been ordered, they will be registered immediately. With these documents you can open a bank account.
Other jurisdictions offer company formation online. For example, if your company is limited to shares and has standard articles of incorporation, it can be registered in the UK in 24 hours for £12 (compared to 8-10 days and £40 if applying by post).

Membership in International Unions
Whether it is an alliance, incorporated union, federal union or supranational body here is the list of unions the country is a member of. Ecuador is a member of several unions. They are International Monetary Fund, United Nations, World Bank, World Trade Organization.

International Monetary Fund
Ecuador is a member of International Monetary Fund. On 28 December 1945, it joined the IMF as a member. The IMF is an organization headquartered in Washington, D.C., of 189 countries working to foster global monetary cooperation, secure financial stability and facilitate international trade. The IMF now plays a central role in the management of balance of payments difficulties and international financial crises. The union is governed by and accountable to the all 189 member countries. As of 2010, the fund had SDR 476.8 billion (about US$ 755.7 billion).

United Nations
Ecuador is a member of United Nations. On 21 December 1945, it joined the UN at its inception date as a full member state. Founded in 1945, the United Nations is an intergovernmental organization to promote international co-operation. The work of the United Nations are guided by the principles contained in its founding Charter. It is currently made up of 193 Member States. The headquarters of the United Nations is in Manhattan, New York City, further main offices are situated in Geneva, Nairobi and Vienna. Its objectives include maintaining international peace and security, promoting human rights, fostering social and economic development, protecting the environment, and providing aid.

World Bank
Ecuador is a member of World Bank. On 28 December 1945, it became a member of the World Bank Group. The World Bank is international financial institution that provides loans to developing countries. It's like a cooperative, made up of 189 member countries. These member countries are represented by a ministers of finance who are the ultimate policymakers at the World Bank. The World Bank's official goal is the reduction of poverty.

World Trade Organization
Ecuador is a member of World Trade Organization. On 21 January 1996, it joined the WTO as a member. The World Trade Organization is an intergovernmental organization which regulates international trade. At its core are the WTO agreements ratified in national parliaments. It is the only global international organization dealing with the rules of trade between nations. The goal is to help producers of goods and services, exporters, and importers conduct their business. The WTO deals with regulation of trade between participating countries by providing a framework for negotiating trade agreements and a dispute resolution process aimed at enforcing participants' adherence.

As more jurisdictions open up to foreign trade, companies can gain access to a large pool of resources abroad. They can establish relationships with foreign partners and relocate their production to foreign locations or simply export their products to new markets. IT and software development companies are also trying to capitalize on moving production to foreign jurisdictions.

In general, the main advantages to offshore software development is lower cost compared to home country. For example, the cost of developing the exact same software in India is 50% lower than in the US. The savings generally come from lower labor costs, but offshoring IT and software production offshore can also expand the company's access to a broader pool of workers with higher skills and expertise. This could explain why 50% of America's Fortune 500 companies use offshore IT and software development. Let's look at some of the jurisdictions where opening a software development company might be more beneficial compared to others and discuss the reasons why.

India
India has long been one of the preferred software development outsourcing destinations for leading multinational companies around the world. This means that one of the biggest advantages of choosing India for your IT and software development business would be multinational demand for outsourced software development services. Meanwhile, the company would benefit from relatively lower labor costs, a broad pool of skilled workers, and a business-friendly environment with the government encouraging start-ups and small businesses. Furthermore, the IT industry is expected to grow in the early to mid teens in the coming years due to favorable political and economic initiatives by the Indian government.

United Kingdom
London was recently described as the city with the most opportunities for business and took first place in terms of technology readiness. While low labor costs are not among the benefits of starting a software development business in London, there are several other benefits that could offset relatively higher wages. Numerous hubs and incubators offer young start-ups and small companies an environment with all the necessary functions and support for less than 300 euros a month. The government is also committed to supporting the software development and technology sectors with organizations such as Tech City UK and Innovate UK with the aim of accelerating the growth of IT companies. Various tax benefits are now available to IT and software development companies in London. Other benefits to consider include a skilled workforce and high-speed Internet access.

Poland
Eastern Europe is becoming more and more attractive for IT and software development companies, with Poland ranking as the number one Eastern European country. While Poland may not offer as low labor costs as India, it can offer other advantages such as proximity to Western Europe and the ability to find common working hours with the rest of the world. Poland also shares a cultural affinity with the western world as well as other eastern countries. It is also believed to offer better product quality and business environment compared to lower cost targets for software development companies.

Each continent has additional jurisdictions to consider for registering an IT company - each with their own benefits and characteristics:

America: Brazil, Argentina and Chile;
Asia/Pacific: China;
Europe: Romania, Belarus and Ukraine.
The above countries have large enough populations to have a broad labor pool and good education systems to produce skilled software developers. The business risks in these countries are manageable and the costs are reasonable compared to the USA, Canada and Western Europe.

It is important to remember that while a particular jurisdiction may be considered the best place to start an IT business for one entrepreneur, it may not be suitable for another. Consider the necessities your business is most interested in. This can be language, geographic location, regulation of specific activities, skilled labor, or cost.

Once your business is registered it is almost fully operational, but there are still a few things that need to be done before you can run your business. While you can start inquiries earlier, these steps can only be completed after the company has been successfully registered and a certificate of registration has been issued.

Depending on the type of business you wish to operate and various other factors, you may need to register with the local tax office for a VAT number (read more about VAT here), open a permanent corporate bank account, or apply for certain licenses/permits, if applicable. At this stage, all documents must be signed by a director representing the company, but shareholders are usually not involved in corporate governance. When you appoint a nominee director, you are authorized by power of attorney to conduct your business on behalf of the nominated director. In this scenario, you can sign all documents as an authorized third party.