Here at activpayroll, we're speaking to lots of clients about their global expansion plans. There are lots of exciting opportunities out there, even in these turbulent times.
Here are 5 important considerations when thinking about moving into a new location. Obviously, the considerations you have will depend on your industry, your experience of growing globally and the locations you are considering, but hopefully these points give you some things to think about.
- Economic and political considerations - we're thinking about things like whether doing business in that location could harm your reputation? Does the Government give any non-resident businesses any incentives to do business there? Are you comfortable that the economic and political situation is stable enough to warrant your time and efforts?
- Entity Requirements - do you need to have an entity in that location to get set up, meaning possible corporate tax implications, or is it possible to register there as a non-resident employer?
- What sort of talent do you want on the ground there? Do you want local employees or are you looking to second people who already know your business? Do you have to hire local employees as part of your plans to do business in that location?
- Is the job you're asking people to do once you start working in that location going to cause you any issues, for example in terms of permanent establishment risks and so on?
- Local employment laws - contracts, holiday entitlement, maternity leave and much much more. You're going to need to consider all these types of things for your new location.
Please do talk to us when you’re thinking about expanding - the earlier the better - we can help guide you on the global employment tax and global HR issues you might come across. Get in touch at firstname.lastname@example.org or visit our website for more information - https://www.activpayroll.com/what-we-do/global-mobility .
Wishing you a successful expansion!
Steph is a regular contributor on LinkedIn - why not visit her page for more insights into the ever changing world of Global Mobility