If you are intending to expand overseas, you may be required to register your business in certain jurisdictions for a variety of reasons, such as:
- a business intending to carry on trading activities;
- a business intending to establish a branch or share transfer office;
- a business that has indirect taxation obligations, eg, VAT and/or sales taxes;
- a business that is required to contribute social security
In some jurisdictions, tax rules may benefit a choice to register as a foreign business or foreign branch office, whilst remaining incorporated in the home country.
Whether a business is required to be registered will depend on the rules of the relevant jurisdiction and the activities of the business in that country. In most cases, registration is required and in many countries, a trading permit or license is also required before a foreign company may carry on business in the country.
Requirements and considerations
There are a few matters that you should consider before proceeding in a foreign country:
- Have you chosen the correct market entry mode? Have you considered risk mitigation issues? What is your exit strategy?
- We also emphasise that you should consider registering all intellectual property rights or assets owned by your business before engaging in trade in the foreign market.
- If you are planning an international business expansion or to engage in international trade, do you have a realistic budget to achieve your international business goals?
To obtain further information on international business development strategies, please call us now.
Ancillary business & corporate services
We are able to offer other business and corporate services to you, including the following:
- Service office
- Business premises
- Company bank account (in local or foreign currency)
- Accounting and book-keeping
- Secretarial and administration
- Translation service
- Local staff (if required)