Though your business is currently based in the United States, you might be setting your sights on relocating overseas. So, what’s involved in moving a business across the pond?
The logistics that go into moving a business overseas can seem overwhelming, especially if you aren’t sure what to expect. We’ve put together some things that you need to keep in mind when relocating your business internationally. Pay attention to make sure you get started on the right foot:
- Talk to the U.S. Department of Commerce – This should actually be your first step in moving your business overseas. This department can give you a plethora of information ranging from tax ramifications to overseas agents. Oh, and it’s free!
- Consider How Business Overseas Will Be Different – One thing is for sure, moving your business overseas will mean that your operations will be different. Many business owners make the mistake of moving too quickly and then realize they can’t handle the international market. Be sure that you are fully aware of the laws, commercial customs and practices before relocating overseas.
- Seek Local Guidance – Before you decide to move your business, seek out some local guidance. Talk to a local attorney or banker to see what you need to do to make it a successful move. Remember, you’re not just dealing with different laws, but a whole other culture.
So, before you move your company overseas, be sure you are ready. Once you do, we wish you the best of luck!
Lance Grooms