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International Expansions in Florida, US – A Safe Market for Investment

What are the key factors that need to be considered when going through the process of an international expansion?

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One of the main factors to consider when going through the process of an international expansion is the legal aspects; you have to check if it is feasible to offer your product/service to the foreign market. Make sure your product/service is in compliance with the regulations and if it is legally feasible. Another factor is the cultural adaptation, research the foreign country and get the right help, this will make the adjustment go a lot smoother for your business. Another factor to consider is the fiscal and accounting issues that might arise. There are different accounting systems in the world so make sure you are familiar with the one in the country you want to expand to and make sure your accounting is done correctly. Another factor is the target market, what market are you trying to target, is there a demand in the country you want to expand to, is there a good location for your business? These are all essential factors as well as the product liability. Certain countries have different standards then others, making sure your products meets these standards and regulations and has the right disclosures is very important.

What are some prevalent areas that you commonly advise upon?

My speciality is forming new companies both in Florida as well as aboard. I help clients review the key legal issues their business requires and inform them about the rules and regulation that are in place in the country. I advice clients on how to organize their business structure, help them from opening their company to regulating their partners and position in the industry. I assist clients with reviewing all legal documents from leasing agreements to purchase contract and more.

Perhaps provide a recent case study or two, demonstrating your expertise in the areas that you covered in previous question.

I had a client that was had a small business he was running with two other partners, I helped set up their provisions on their association agreement where we pre established what would happen in case one of the partners died or got a divorce. These are all legal aspects that need to be taken care of before the issue arises and are often issues the partners don’t think about.

Another commonly advised issue is how to protect a company’s assets from any misfortune in the future. I explain to people how to hold real estate in an organizations name in order for it to be fully protected in case the company or its owners experience difficulties.

What are some of the primary reasons for a business to expand overseas (ie, tax advantages)?

The primary reason for a business to expand overseas would be to expand their market, and to take advantage of the global arena. Expanding would allow them to reach more customers and get more marketing exposure for their product/service. Depending on the market a client works in there are several other advantages that exist, for example if your business works in the manufacturing sector, expanding aboard could lead to cheaper labour costs, for a business in the sales sector, tariffs could be lower.

What are the advantages of forming a company in your jurisdiction? Why are clients attracted to this jurisdiction?

Florida has some great advantages for international clients; first of all there is its geographical location that is perfect. Florida offers world class access to the rest of the world. Miamiis the #1 international freight hub and facilitator of international commerce.  Miami is a cultural diverse community and the undisputed meeting place for conducting business. Close to the rest of the world Florida is easily accessible and offers cargo ports in almost all of its main cities. 35 different shipping lines sail to more then 250 seaports in more then 100 countries and 7.42M cargo is passed through Miami port alone a year. Florida is very pro international and offers several advantages such as the skilled labour, the low taxation, the easy accessibility, the international banking sector, the ease of getting insurance and let’s not forget the state of the art technology available at everyone’s fingertips.

From which industry sectors are you currently seeing the most international expansions? Why do you think this is?

The international commerce sector is very big but the housing market has seen a huge expansion in the past few years as well. While the rest of the world suffered from the real estate crisis, South Florida and especially Miami has taken advantage of the price adjustments to attack foreign investors. There has been a huge increase in foreigners buying properties in South Florida, there are several reasons why: First of all The United States has been known as the country where people want to migrate to for a chance at a better lifestyle. These foreign nationals upon arriving in the country invest in properties. The USA has a trustworthy legal system which places a lot of importance on property rights and people feel that it is the safest place to invest their money in.  Miami is a beautiful place with the sun, beach and sand. It is an ideal place to set up vacation villas and homes. This is one reason for rich people from other foreign countries to come and invest in beautiful Miami Beach condos, facing the clear blue ocean. With the Federal Reserve keeping the interest rates low to attract foreign investors, investors and developers from Japan, China, Brazil and Russia are coming in. These investors feel that The United States is recovering economically and is a safe market for their investment.

Are there any new or pending developments/trends in legislation that may affect your work? Please give details.

Yes there are several developments that have encouraged people to open more businesses in my legislation. First of all there are the immigration laws that are about to change to encourage foreign business to establish themselves in Florida. Already several types of visas are offered to foreigners that want to open a business down here but in the future more laws will come in place making it even easier. The USA wants to attract international business to come and expand down here. Then there are also the regulations which will change, allowing more foreigners to open a business, currently there are many rules and regulations in place but they provide a security for customers. The fact that a business is allowed to operate in the USA means they are up to standard and this gives trust and confidence to the people doing business with these entities.

Are you a member of any networks or associations? If so, what benefits does this affiliation provide? (ie, conferences, international case work referrals, etc)

We are not members directly but we work closely with several associations, we are well known to them and we work together to accomplish our common goals. A lot of these associations are a great help to new business trying to set up or establish themselves in South Florida and they offer excellent professional services.