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Legal Considerations for Florida Businesses Expanding Internationally
Businesses that wish to expand their operations or customers internationally face unique legal and compliance challenges. Alongside the business preparations for international expansion, companies should ensure that they take into account the legal requirements needed to operate abroad. An experienced Broward County business law attorney can discuss the legal implications of an international business expansion and help businesses prepare for this exciting step.
Legal Operations and Corporate Structure
The first thing you should do when seeking to expand internationally is ensure that you comply with basic corporate requirements. If you are only making sales in another country, you may not need to think about setting up legal operations to comply with that country’s laws. If you are seeking to expand beyond that, however, you should consider the proper corporate structure for operating in that country.
For example, some countries will require that you do any or all of the following:
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Establish a legal entity abroad, such as a subsidiary
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Have a physical office
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Work with an International Professional Employer Organization (PEO), which hires foreign employees on a company’s behalf
Contract Review and Compliance
When expanding abroad, you should ensure that current contracts comply with the law of the country in which you wish to expand.
Investment and Capital
If you wish to expand abroad, some countries will have a capital investment requirement in order to incorporate there, while others, such as the U.K., will not.
Intellectual Property
Depending on the nature of your business, it may be a good idea to register valuable intellectual property internationally as well.
Digital Privacy Laws
Even businesses that do not do business abroad but maintain a website that can be accessed from the European Union have to comply with the General Data Protection Regulation (GDPR), which regulates how businesses use and keep private data.
Employment
If you plan to expand your workforce abroad, you should consider whether US or international law will apply to your employees. Some countries have more stringent requirements for employers. It may also be necessary to draft employment contracts for local employees.
Taxation
Taxation issues can sometimes make or break a business, and tax laws can vary widely depending on the country in which you will be doing business. You may have to pay taxes both in the U.S. and abroad. Additionally, you should ensure that you understand the U.S. tax implications of setting up a business abroad.
Contact a Fort Lauderdale, FL International Business Law Attorney
At The Elliot Legal Group, P.A. we represent clients in all manner of business transactions and disputes. Attorney Gavin Elliot can advise local companies wishing to expand abroad and is also licensed in England and Wales. Our Broward County, FL business law attorney will work to ensure that your business is protected so you can focus on expanding internationally. Call the law firm office today at 754-332-2101 to schedule a consultation.
