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Successful offshore expansion requires planning and a thorough understanding of target markets. The success or otherwise of a company’s offshore expansion strategy is now, more than ever, reliant upon an awareness and understanding of the commercial, tax and other legislative issues and the ability to balance these, often conflicting, agendas. With increasing tax and regulatory requirements here and in the UK, a failure to understand and adequately plan for your expansion may lead to administrative inefficiencies and unnecessary tax burdens, significantly impacting business profitability. When planning for offshore expansion, businesses can benefit significantly from an external adviser. An experienced adviser can bring invaluable experience, ideas and solutions, greatly reducing executive downtime and minimising overall costs. “It’s the importance of getting it right – the first time,” says William Buck’s International Tax Partner, Russell Phillips. “Valuable advice comes from not just understanding the international laws but having the resources and capability to understand the corporate and market drivers behind an international expansion. Ultimately, it’s the ability to provide advice that balances the tax and legislative requirements with the commercial business objectives that adds real value.” Significant issues – such as entity and transaction structuring, tax effective financing, profit repatriation and transfer pricing issues – must be carefully analysed in the context of your business. Russell notes also that it is important to recognise that “the success of a business offshore is often reliant upon the key individuals responsible for the establishment of operations and its growth during the infancy stages. “We work with key expatriate employees through the tax planning, migration and wealth creation issues for them and their families, to ease the burdens of their relocation and help ensure they can focus on the business. “At William Buck we bring years of practical experience to work in partnership with our clients to deliver the total package of professional services for both the company and the individuals who make it happen.”
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