Establish a new international presence
- Establishing a legal subsidiary
- International Payroll
- International Financial Reporting
- HR & Administration
The first step to getting your business off the ground is to establish a legal permanent subsidiary. As every business has different, individual needs, we work with clients to determine what type of establishment best suits your goals. Whether your need is for a branch in France, an S Corp in the US, a GmbH in Germany, a BV in the Netherlands, or a J-LLC in Japan, we complete the necessary paperwork and liaise with the local authorities to ensure that your legal entity is established in a timely manner.
We work in tandem with our clients to determine the best location for their legal entity by taking into consideration the following key factors:
- Location of core customer base
- Location of talent pool
- Regulatory and Tax Environment
Ease of doing Business
The above points are a few of the key strategic factors taken into account in preparing an international expansion. We also understand that every business is unique and there is no ‘one size fits all’ approach to selecting the location for your permanent subsidiary. Working on this premise we carefully examine and analyze your business to ensure that you select and enter the most desirable markets for your particular business model. Back to top.
Although payroll is usually a straightforward task, international payroll can be far more complicated. Of all the things to worry about in your expansion plans, payroll should not be one of them. Understanding and managing complex tax regulations, individual tax and social insurance payment due dates, and related calculations in a new country can be a headache to say the least. More often than not your financial executives will not have the capacity in terms of time or manpower to relearn the regulations and tax requirements of each country in which your subsidiaries are located. Hull Speed Associates assists your financial team in managing all international payroll aspects, ensuring that all requirements are completed accurately and to target deadlines. Back to top.
Our staff has extensive public accounting and public reporting experience so we understand how critical timely and accurate reporting is for any company. International financial reporting, however, can be a complex task as local reporting requirements often have different criteria than company-specific requirements. Hull Speed Associates works with your finance team to understand the reporting needs of your business and to then tailor the local reporting requirements to meet these needs. In this way we are able to merge the requirements of the local authorities with those of your company to ensure nothing is ‘lost in translation’. At a minimum we can provide monthly reporting packages that include a balance sheet, P&L, cash flow, cash reconciliation and other required transaction level reports. Back to top.
Each country in which your business operates has statutory reporting requirements and regulations, ranging from annual corporate tax returns, periodic sales or VAT returns to financial statement filing requirements. Our professionals provide local knowledge of compliance requirements to ensure that your subsidiary remains a legal entity within your host country. Working with complete transparency and in tandem with your team,we make sure you are up to date with all of the deadlines associated with monthly or quarterly sales and VAT tax filing, annual corporate tax returns, and other government required filings. Back to top.
Hull Speed Associates oversees your company’s expenditure process by setting-up, maintaining and managing all of your foreign subsidiaries’ bank accounts along with managing the timely payment of, for example, payroll, vender invoices and employee expense reports. Back to top.
Complementing the technical know-how to manage accounting, reporting and treasury duties, our team also has the capacity and local knowledge to manage the day-to-day operations of your foreign subsidiaries. It is inevitable that you will need to interact with local authorities on a regular basis in order to answer any questions or concerns they may have. These inquiries can come from the local government, authorities in townships in which you are present, or from other bureaucratic sources. Speaking the local language, knowing the business culture, and often using existing contacts and networks, our professionals can take care of these administrative duties quickly and efficiently, saving you the stress of managing these matters on your own. Hull Speed Associates can take care of all local paperwork and interaction with local authorities required to run your business. Back to top.
We can also support your Human Resources team in providing guidance and advice on all local employment topics including, for example, questions about health care and other benefits, meeting employment requirements, pension schemes, and other issues as they arise. Back to top.