Once the country of destination has been chosen, the accounting and administrative aspects still need to be studied:
- Accounting has started to be “universalise” and it is much easier today to find your way round in the accounting maze from one country to another.
- Yes, but beware! Not everything can be taken for granted: grants, reduced social security charges, public holidays, etc. all have an impact on your decision to set up a business ! Especially in countries where each region has its own laws.
- Don’t forget the local customs and habits (Spain: public holidays, city by city, some of which may or may not be compulsory. Mauritius: 3 religions coexist: you have to respect the holidays of the 3 religions!,…)
- Are language obligations a deterrent? Which is the national language and which languages are actually used? Should all administrative documents be issued in all these languages?
- What are the constraints of collective agreements? Exemption and obligations to hire disabled workers? What are the fiscal (including penal) sanctions?
- Do we have to fill in declarations of dangerous activities? What is the level of contestation or negotiation of a decision of the local authorities?
- What is the power of controllers? Are there risks of corruption?
- How should administrative procedures be carried out? On line? Through an accountant or a bailiff? A lawyer? A notary? What are the costs and duration of these procedures?
- Multi-currency countries: in which currency should you keep your accounts? Can one transfer his capital and foreign currency?
- What are the customs duties? Can one benefit from preferential regimes depending on the origin of the products or their final destination?
The consultants of Businexport are at your disposal for a complete study and a step by step guidance.