Breaking Down Borders

If you're looking to invest, launch a business, or just live somewhere where the government doesn’t strangle your wallet, this list is for you. Based on the 2024 Economic Freedom Index, we’re ranking the top 25 countries where free markets thrive, taxes are low (or smartly managed), and people have more say in how they spend, save, and succeed.

#25. Portugal

Portugal offers a friendly mix of economic freedom and Mediterranean charm. With tax incentives for foreign residents and a growing tech scene in Lisbon and Porto, it's becoming a digital nomad magnet. While bureaucracy still slows things down, reforms are making progress.

TravelPhotosNL, Wikimedia Commons

#24. Lithuania

Lithuania's flat income tax and streamlined business regulations have made it one of Eastern Europe’s rising stars. The government supports small businesses, and its fintech industry is booming. It’s ideal for startups that want flexibility in a fast-growing economy.

BigHead, Wikimedia Commons

#23. Latvia

Latvia may be small, but it's mighty when it comes to open markets. Transparent legal systems and smart digital infrastructure make it easy to do business. Plus, EU membership helps open doors across the continent.

Diego Delso, Wikimedia Commons

#22. Austria

Austria combines strong property rights with minimal corruption. It has a stable economy, high legal transparency, and strong protections for investors. Though taxes are higher than average, the efficient public services and open markets make up for it.

Ralf Roletschek, Wikimedia Commons

#21. Estonia

This Baltic beauty is a digital powerhouse. Estonia ranks high for fiscal health, low corruption, and ease of launching a business (you can do it in under 30 minutes online). It’s a dream for entrepreneurs and tech-savvy expats.

rasmusroimela from Tampere, Finland, Wikimedia Commons

#20. United Kingdom

Despite recent economic wobbles, the UK still ranks high for economic freedom. Strong legal systems, property rights, and access to global markets make it an attractive spot for international businesses—especially in finance and trade.

Dominika Gregušová, Pexels

#19. Iceland

Iceland blends economic freedom with stunning scenery. A low corporate tax rate and simple business regulations help keep things efficient. While the market is small, its open trade policies and high transparency make it ideal for niche industries.

robingileo, Wikimedia Commons

#18. Luxembourg

Luxembourg’s wealth isn’t just from banking—though it does that very well. The country offers low business taxes, strong protections for investors, and an efficient, tech-forward government. It’s a financial hub that’s stable and flexible.

Cayambe, Wikimedia Commons

#17. Sweden

Sweden has high taxes, sure, but it balances them with a very open and efficient business climate. Property rights are well-protected, corruption is low, and innovation is highly encouraged. It’s a social market done right.

Kabelleger / David Gubler, Wikimedia Commons

#16. Netherlands

The Dutch economy thrives on trade, innovation, and strong protections for private enterprise. Its regulatory environment is pro-business without being chaotic, and Amsterdam continues to draw in global talent and companies alike.

Swimmerguy269, Wikimedia Commons

#15. Finland

Finland is one of the cleanest, most transparent economies in the world. Low corruption, strong property rights, and an educated workforce make it a magnet for ethical entrepreneurs and tech companies.

Safa Hovinen, Wikimedia Commons

#14. Germany

Europe’s economic powerhouse earns its spot with a strong legal system, stable currency, and a solid industrial base. While bureaucracy exists, Germany’s respect for contracts and financial regulation helps businesses thrive long-term.

File:Museumsinsel Berlin Juli 2021 1 (cropped).jpg: Kasa Fue derivative work: Georgfotoart, Wikimedia Commons

#13. United States

The U.S. has slipped in rankings slightly, but it still boasts a competitive tax environment, a huge consumer base, and access to capital. States like Florida and Texas in particular offer high economic freedom, making America a top choice for growth.

Alvesgaspar, Wikimedia Commons

#12. Taiwan

Taiwan’s economy is built on tech, trade, and strong rule of law. It offers low corruption, high innovation, and open markets. Foreign investment is encouraged, and its economic policies have weathered global storms better than most.

Heeheemalu, Wikimedia Commons

#11. Czech Republic

The Czech Republic offers low corporate tax, straightforward regulations, and strong property rights. Prague is quickly becoming a hub for startups and digital nomads thanks to the country’s mix of affordability and pro-business policies.

Jirka.h23, Wikimedia Commons

#10. Denmark

Denmark scores high on transparency, judicial independence, and ease of doing business. It may have high taxes, but those are paired with an incredibly efficient public sector and a rock-solid business environment.

Pudelek, Wikimedia Commons

#9. Australia

With low barriers to entry and a resilient economy, Australia makes it easy to start and run a business. Its free trade agreements and regulatory stability make it a go-to spot for global entrepreneurs and investors.

File:Melburnian Skyline.jpg: Melbpal derivative work: Georgfotoart, Wikimedia Commons

#8. Canada

Canada ranks high for property rights, regulatory efficiency, and access to capital. While taxes are higher in some provinces, its open economy and strong financial institutions keep it a favorite for international investors and startups.

Peter_Glyn, Wikimedia Commons

#7. Ireland

Ireland’s low corporate tax rate (12.5%) and pro-business policies have lured tech giants like Google and Apple. It also has easy company setup processes and strong ties to both the EU and U.S. markets.

Ardfern, Wikimedia Commons

#6. United Arab Emirates

UAE’s free zones and tax-free business incentives make it a dream for entrepreneurs. Dubai and Abu Dhabi are now global business hubs with minimal regulation, fast licensing, and access to international markets.

Stefano Vigorelli, Wikimedia Commons

#5. Norway

Norway combines free markets with strong institutions. Oil money funds a stable, transparent economy, while business regulations stay lean. High legal integrity and solid protections make it one of the safest bets for investors.

Andreas M, Unsplash

#4. Switzerland

Known for its financial sector, Switzerland also boasts low taxes, high transparency, and strong protection of individual and corporate assets. It’s incredibly stable and offers one of the most competitive economies in the world.

Xavier von Erlach, Unsplash

#3. New Zealand

New Zealand consistently ranks near the top for ease of doing business, legal efficiency, and property rights. Its straightforward tax system and minimal corruption help entrepreneurs thrive in a laid-back but productive environment.

elpinto007, Wikimedia Commons

#2. Singapore

Singapore’s free-market approach, zero net debt, and pro-business policies make it a top destination for global investors. Its location, efficiency, and low taxes are magnets for entrepreneurs and corporations alike.

Majush, Wikimedia Commons

#1. Hong Kong

Despite recent political shifts, Hong Kong still tops the list for economic freedom. With low taxes, free trade, minimal regulation, and strong financial infrastructure, it remains one of the best places on earth to start and scale a business.

Ank Kumar, Wikimedia Commons

You May Also Like:

Countries With The Most Expensive Groceries—And How They Compare To The U.S.
Ranking The Top Countries For True Outdoor Adventures—According To Travelers
Ranking The Most Beautiful Countries On Earth—According To Photographers

Sources: 1, 2, 3, 4, 5, 6, 7, 8, 9, 10