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The 10 Top Places in Europe for New Startups to Apply for Tax Breaks are for you. Countries that offer attractive policies that encourage early-stage investments from business angels that you might benefit from. Countries such as Portugal, Belgium, Belgium and Portugal offer tax breaks for startups. US Startups have historically relied on Bank Credit to finance their growth. This has changed during the Lehman financial crisis. Portugal is one of the countries offering tax incentives for business angels and venture capitalists. Belgium has a tax shelter that can help you raise up to €250,000 to grow your business.