Key steps to expanding your Business Internationally
It is critical that strong legal processes are put in place to minimise unnecessary commercial risks. Additionally, government agencies have strict requirements that necessitates legal documentation be in place prior to operating within the country.
- Create localised commercial agreements.
- Review industry-specific regulations to ensure compliance and certifications are obtained if needed.
- Perform general corporate services such as dispute resolution, immigration, customs, and shipping.
- Maintain corporate records and governance.
Tax and Finance Readiness
The proper tax and finance infrastructures need to be set up early on to ensure that you are receiving timely reporting and that your foreign entity is adhering to local corporate policies and procedures.
- How to handle accounting, payroll, and tax?
- Establish local banking relationships.
- Develop a risk management plan.
- Develop a transfer pricing study.
- Develop a cash repatriation plan.
- Prepare and report sales and VAT taxes