Decide on the fate of your business
In the first stage of planning moving abroad, you need to understand what you are doing with your current business.
In this case, you will have 2 main options.
Solve tax issues
Deal with employees
Resolve issues with counterparties
Business registration abroad
Selection of a country for opening a business
Usually, offshore or low-tax jurisdictions are chosen for the first option, which allows you to open a company relatively quickly and without significant costs and manage it remotely.
If you want to be able to live in this country, personally negotiate with partners and represent your company, you should stop at highly reputable (onshore) jurisdictions. However, such states often set additional conditions for registration and conducting business and expect greater solvency of foreign entrepreneurs.
Choice of the business registration form
However, in each specific situation, it is worth starting from the type of activity, the amount of start-up capital, and the presence of equity partners with whom you plan to do business.
All these issues are determined at the stage of building a foreign corporate structure.
Collection and submission of necessary documents
You should prepare copies of passports and other personal documents of all those who will be part of the management team of the business, as well as develop a charter or its analogs, corporate agreements between the founders on the distribution of rights and powers, and other corporate documents if necessary.
You will also need to take care of registering the legal address of your business and provide a document confirming it.
Opening a bank account
To verify you personally and your business, in addition to the documents you used to register the company, the bank will request information about your previous activities, your clients and partners, and the origin of funds.
We advise you to approach this verification procedure responsibly and provide the necessary documents at the request of the bank in time so as not to delay the moment when you can finally start your business.
Contractual issues of work abroad
If you sell goods, sooner or later you will have to rent warehouse space. To save money on logistics costs, we advise you to stay at a property located close to your office or to the location of your main suppliers.
When drawing up and signing documents, pay special attention to the terms of payment and termination of the contract. No matter how friendly your landlord is, even a 1-day delay or violation of a seemingly insignificant circumstance can force you to look for a new place.
Contractual relations with customers, contractors, and suppliers
The sooner you manage to fix the first agreements, the sooner you will receive the first income and be able to use it for business development.
If your counterparties offer you ready-made contracts, pay attention to the balance of interests and financial issues. Your position should not be weakened, and your business should be protected from possible violations and excessive fines.
Immigration and personal matters
Issuance of residence permits
Acquisition of real estate and investments
If you have enough funds, you can consider one of the following options:
Each of these options, depending on the requirements of the state, can cost from several hundred thousand to several million euros.