When you take your business abroad, you open a world of possibilities. Of course, starting an international business comes with some challenges. Here are some things you should know upfront to avoid getting caught off guard.
- Legal Issues for International Business
Most importantly, you should understand legal issues in international business. Each country has different business laws, and it’s crucial that your business follows the laws of its host country.
- Business Registration
If you open multiple locations, pay attention to registration laws in each of those locations. Just like in the US, other countries can have state and city regulations. Your company’s main office may be in the US, but you’ll still have to register your business in each of its international locations.
- Tax Laws
The same principle applies to taxation laws. Will you need to pay business taxes, payroll taxes, and similar fees? Before you build offices in another country, read up on that country’s tax codes.
- Employment Laws
When you hire local employees for your international business, their contracts should adhere to local laws. These laws can get tricky, since a lot of them are like US laws but just different enough to get a business owner into trouble.
These are just a few of the laws you’ll need to keep in mind. Other important legal considerations include payroll, investors, bilateral trade, and more. Think about what you need to run your current business, and then spend some time researching the corresponding laws for your new location.
Don’t try to navigate it alone
Before you bring your company abroad, hiring an international business attorney can help you gain some peace of mind. Your attorney can explain different aspects of business law and help keep you from making major mistakes. So, how can you choose the right attorney?
First, look for a local attorney. For example, if you do business in the Milwaukee area, you’ll want a Milwaukee business lawyer. By hiring a Milwaukee business attorney, you’ll have easy access to legal advice.
Next, make sure that your attorney has business law experience, particularly with international law. The more experience your attorney has, the better.
McLario Helm Bertling & Spiegel is the business lawyer Milwaukee business owners turn to when they want international business help. We have decades of business law experience, and we put that experience to work. Learn more about setting your business up for success from our YouTube series.