You see relocation as your main market for growth or as the optimum solution for other reasons, related to business, security, or legislation and accounting? Do you know you can relocate along with your company?
Or, perhaps, your investor demands your relocation and you need to move your entire business to the invested capital’s original market? Don’t know where to start to make sure everything goes smoothly?
There are many situations requiring relocation of your business or you, as the entrepreneur, simply feel you want to relocate.
The whole process must be planned to make sure it goes smoothly both here, in Poland, and in the country of destination. It is good to have a trusted and competent advisor to provide support throughout the process, in a single location.
Where to start with relocating your company
When you decide to relocate the company’s seat, you usually know the purpose of reorganisation in advance and where should the business/company be relocated to. Such a change frequently entails a change of the entrepreneur’s and their family’s tax residence. You can find details HERE – The Change of Tax Residence area of expertise.
Many aspects should be investigated and planned in advance, i.e. before taking any actions. This will help you act swiftly afterwards. Should this stage be omitted, fixing things and eliminating certain risks may prove to be a lengthy and costly process.
Please note that in the time of COVID pandemic, foreign businesses are welcome to all European countries, especially if they offer innovative technologies or services. Should you wish for some business segments to remain in Poland, then maybe we are dealing with business expansion described in detail HERE – BUSINESS DEVELOPMENT area of expertise
- Before taking any actions, analysing tax and legal consequences of such a relocation, preparing the time schedule for both legal and business actions;
- Handling the entire reorganisation process internationally. This means that we are responsible for the entire stage coordinated by us from Poland in co-operation with our established partners in Europe, USA, and Asia.
- Setting up accounting, tax and legal supervision processes, negotiate and streamline costs of foreign administration.
- Helping set up bank accounts and negotiate the costs of financial administration.
- Helping in obtaining funds and in M&A processes in countries of destination.
- Supervising the Polish entities’ responsibilities in connection with relocation abroad (declarations/settlements for foreign currencies, taxes etc.).
Choosing partners for business relocation
You should analyse the labour costs in each country and costs of legal consultancy services. Operating in an international environment has been our key area of expertise and focus for more than 20 years – owing to this, we can have many solutions handled by our Polish team (saving your time and costs), consulting lawyers in countries of destination in strategic and project-relevant moments, as well as at the final stage of designing the target structure. We co-operate with established partners in Europe and worldwide.
Things to remember when opening a business abroad
In addition to business risks and proper arrangements with your business partners, you need to take care of legal, tax, and legislation risks.
It is good to know that many countries have tax regulations very friendly towards companies utilising innovative technologies. An effectively one-digit tax rate is easily possible both in Poland and abroad. On the other hand, the relocation must be entirely compliant with Polish legislation so that foreign benefits do not result in additional risks in Poland (such as extra taxes for relocation or foreign operations of the company).
Some countries may offer more liberal accounting principles making life easier and helping focus on your business.
You must also remember tax and legal liabilities (including those concerning foreign currencies) in Poland. For instance, you must file a declaration of assets held outside the territory of Poland. This obligation applies to both companies, entrepreneurs, as well as private individuals who should report, among other things, their shares held in foreign companies. It is important to do everything properly and have a peace of mind necessary to expand your business.
It is also very important to remember that every country follows the “substance” approach. Owning a company is not enough. Such a company must actually operate. We help our clients take their first steps efficiently and safely.
Negotiating with business partners
We help our clients streamline the cost structure of international projects. Knowing the principles of professional service, we are aware of the factors to be taken into consideration.
Having been a part of the life of international businesses for two decades, we help our clients in vital business negotiations, M&A transactions, establishing and negotiating relations with accounting, legal, or tax consultancy partners.
RELOCATION OF A COMPANY ALONG WITH ITS FINANCIAL ASSETS
We have relocated several companies from other countries to Poland and from Poland to European countries such as Luxemburg, the UK, Estonia.
We have planned entrance of an individual and their training companies onto the US market. Due to the change of market environment in the time of COVID pandemic, we had to promptly respond by modifying our solutions. We had to act efficiently and keep matching the client’s needs to the ever-changing market which has been affected by the epidemic to various extent depending on the location.