Thursday, February 8, 2018
Entrepreneurs from all over the world search for new ways of extending their businesses on the foreign markets where they can benefit from low taxation and new opportunities. They have the possibility to open a branch/subsidiary of their company or to open a new entity, according to the local regulations. Sometimes the foreign investors don’t know how to start the preparations for setting up a company in another country and they need local guidance. In this case, they should contact a local company formation specialist or lawyer who is specialized in company formation matters.
Opening of a company or subsidiary/branch can take from a few days in most of the Western European countries, such as Ireland, to a few months in states that are not well developed. The incorporation procedures can be very simple or complicated according to the bureaucratic process in every country. If you don’t want to travel to another country and spend there a few weeks/months trying to incorporate the company by yourself, it is recommended to contact a local lawyer or company formation specialist. He/she will be in charge with the incorporation procedures and will represent you in front of the local authorities. You need to give him/her a power of attorney and he/she will deal with the whole process in exchange for a certain fee. At the end of this procedure, you will receive the documents you need for starting your economic activity, including the special permits or licenses related to your business.
You can find a lot of companies that offer company formation services, such as LawOfficeMalaysia.com and LawyersIreland.eu, if you search on the Internet and you may choose the one that suits your business objectives and budget.
Relocating your business may mean better growth, access to more promising markets and a potential larger business success. Investors need to find out how to relocate a business abroad depending on the particular jurisdiction they target, but also by considering a set of general issues such as the type of company, the business climate and the taxation regime in the new jurisdiction.
Consider the business structure
When deciding to relocate an existing company it is important to explore the types of business structures that exist in the jurisdiction of choice. While there are international equivalents for most of the business forms, like the private limited liability company, investors are advised to get to know the exact characteristics of the business form which is the equivalent of the type of company they wish to relocate. The transition will be simpler from a private limited liability company to its equivalent than to a public limited company for example.
Ireland can be a suitable option if you want to relocate your business to Europe. The country has a simple company formation process, an educated workforce and a low corporate income tax rate.
The experts at LawyersIreland.eu can give you complete information about the types of companies available to foreign investors and the conditions to relocate an existing business in Dublin or another city of your choice.
Tax changes in the new jurisdiction
Investors who choose to relocate their business in Asia have a number of options as far as suitable jurisdictions are concerned. Malaysia is a country that encourages company formation through a series of incentives for businesses. Opening a company in Malaysia is subject to a few steps and registration with the Companies Commission.
Company relocation to Malaysia or another country will include a change in the taxation regime. The corporate income tax rate is usually an important factor when deciding to relocate a company. Ultimately, investors will choose a jurisdiction that offers them advantages over multiple plans, not only taxation.
The tax experts at LawOfficeMalaysia.com can give you more information should you choose to relocate your company to Asia.
Regardless of the jurisdiction you choose, it is always recommended to explore your available option and the local conditions for doing business before committing to relocating your company in another country.