How Easy is it to Set Up a Foreign Company?

If you are a career girl who has her sights set high, you are probably thinking about broadening your horizons and looking at setting up a business abroad; the good news is, it has never been easier to do just that and with many nations trying to encourage foreign investment, there are some great incentives.

Market research

Before making any moves to do business in a foreign country, you need to do some serious market research; it is possible to open a representative office that allows you to carry out research with a non-trading entity. You might need to do a Chinese trademark registration search to ensure you are not breaching a copyright, or perhaps your intended company name is already taken. Once you are ready to trade, you can change to a limited company.

Seek out an international law firm with experience in your target country

This type of company can facilitate the business registration and provide essential services (bookkeeping & accounting) while ensuring compliance, which is critical. Some countries offer amazing tax incentives for foreign investors, so make sure you look at a cross-section of nations before settling on a location. 

Working visas

If you are planning to relocate and manage your business directly, you will need a work permit, which can be arranged by the law firm. Of course, every country has its own rules and regulations regarding immigration and commerce, which is why you need a lawyer that fully understands the process. If, for example, your manufacturer is based in China, it might be very beneficial for you to open a company in China, which might remove import duty and bring other benefits. Click here for tips to streamline your business processes.

Tax-free havens

There are certain parts of the world where residents pay no tax. Offshore accounts can be set up, but you need to talk to a financial planner to find out whether or not this would be beneficial to you. Cayman Islands, Vanuatu and Monte Carlo, to name but a few. Some countries allow you to open a business and pay no company taxes, as they are trying hard to encourage foreign investment.

Do your homework

The last thing you want is to create a business and then discover there are pitfalls; do your research and write a business plan for the new venture, which would reveal any shortcomings and with the right legal advice, you should be able to move forward and be compliant at the same time. The Internet hosts so much information that can help you make informed decisions about doing business abroad, and with real-time video calls, you can connect with potential business contacts with ease.

One of the most popular countries for foreign businesses is China, where the economy is strong and business opportunities are many. Talk to a leading international business law firm that deals with Chinese business registration, and you are in good hands.