Sometimes you may need to relocate your business to another country. Find out more about how to successfully relocate your business and what difficulties you may face

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There can be many reasons for moving a business: maybe your market is in another place and you want to be closer to it, or you are interested in tax benefits, or your family is simply planning to move to a warmer country. Technological development erases borders, but not to be motivated to relocate business - it may not be as easy as it seems at first glance.

How to relocate business? How to facilitate business relocation? What problems can you face during business relocation? Which countries are easier to move to? Read in our material.

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Is relocation a smart move?

Business relocation is a large investment that requires detailed analysis. Most businesses change countries to reduce operating costs or to enter a new market. If you cannot achieve a certain level of profit with a small investment in the country of doing business, then moving is a good idea.

Choose the country to move to

The second stage is to find the best country to move to. For this, it is worth conducting a detailed analysis, because you need to be sure that your enterprise will have sufficient potential for development in the future country. At this stage, it is worth turning to experts. Decisions must be made rationally, based on facts and sound analysis.

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Paperwork

Regardless of which country you choose to move to, many documents need to be drawn up for relocation. Most countries in the world welcome new enterprises. Undoubtedly, certain countries are more friendly to new companies, the procedure for filing documents in these countries is simpler. However, despite this, when moving, you will need to fill out many documents and obtain various permits. You should be prepared that the process of moving will not go as quickly as you would like.

Planning a move

Determine who from the team will be responsible for the move, it can be either you personally or one of your colleagues. Carefully plan every aspect of the move. Set the date of the move, take into account the fact that the planned period of the move can greatly affect its cost. During the holiday season, the prices of moving companies are much higher. Also, don't forget to notify your employees about their tasks as part of the move. Give presentations or shoot videos to focus the team's attention on tasks.

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Relocation

For a comfortable move, it is worth hiring an experienced transport company to transport all the necessary things and archives. An experienced moving consultant will always be able to tell you what moments you might have missed, what to pay attention to and how to act in different situations.

What problems can you face when relocating a business?

Chances are, you won't be able to just move and continue working, relocating is almost like starting a new business, except you already have some resources, experience and a customer base.

What aspects should be paid attention to when moving:

• Choosing a new business name

If you are moving to a country where the native language is different from yours, then most likely the familiar name will be free. To choose a name, check the register and include the chosen name in the application. However, there is a possibility that you will not be able to use the usual name due to local restrictions, or you will have to change your company name slightly due to personal rules in the country of relocation. One example of this is Germany, where most businesses must include a suffix in their official name that indicates their business structure (eg GmbH).

Also, be sure to check the meaning of the chosen name in the language of the country of relocation. Some words can have hidden meanings in different languages when translated directly or as homonyms

• Search for premises

The easiest way to find a place is to contact local realtors when you decide on the country and city for relocation. You can also find an office online or simply look for any vacant properties or signs that indicate properties are available for sale or rent in the city you've chosen to relocate to.

The main factors that should be paid attention to when looking for premises are access to labor force, resources, powerful transport and Internet infrastructures, etc.

• Adaptation to the market

The process of doing business in new country may differ from what you are used to. Of course, you can continue to do as you are used to, but quite often moving abroad requires a change of mind and some respect for local customs. If you want to successfully hire and work with the local population, you may need to do some research. Articles about cultural missteps and things to avoid in this country are a good starting point.

The adaptation process can be the most difficult part of relocating your business abroad, as you may be dealing with a system that is less efficient than what you are used to.

Countries to which it is easiest to relocate a business

When compiling a rating of the countries to which it is easiest to relocate a business, the following factors are taken into account: the time required to register a company, the simplicity of bureaucratic procedures, such as submitting a tax return or obtaining a loan, and other indicators.

The countries to which it is easiest to relocate a business in 2023:

• New Zealand
• Singapore
• Hong Kong
• Denmark
• South Korea
• USA
• Georgia
• United Kingdom
• Norway
• Sweden

Relocation is a rather complicated process, but if you conduct a detailed analysis, prepare the necessary documents or seek the help of highly qualified lawyers, the relocation process will be easy and without unnecessary worries.