Expanding your business into another country is an exciting journey but rarely an easy one. With government regulations tightening and tax laws toughening up, in particular around funding and anti-laundering legislation, it all adds to the complications of global expansion.
One thing that does help make the process simpler is technology; using the internet to do research and having products like Xero, a world-wide cloud based accounting software to monitor your accounts globally. However while you can read endless information on-line, nothing beats being there in person.
Doing business in another country needs someone you can trust on the ground, in the country that you want to do business in. It's about building relationships, meeting new people in local networks, attending relevant events and tradeshows, building new connections and giving your brand a face.
You also need someone to personally make sure that everything works as it should, someone with the local knowledge and expertise to explain how things actually work. An accountant can help you with this, we recommend researching to find the best-fit accountant for you. A good accountant can help you ensure you meet the tax requirements necessary, set up the correct structures and adhere to tax laws.
WE Accounting have a number of clients who are expanding into the New Zealand market from overseas. If you'd like to chat with us about how we can help you, feel free to contact us for a free no obligation consultation, which can be done in person, over the phone or internet.
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