The UK is one of the most important economies in Europe and many companies are headquartered in London, one of the largest financial centers in the world. However, it is a normal thing for the business owner of a London-based company to expand its operations in one or more countries.
The expansion of a London-based business to another country can be completed by opening a branch office, a subsidiary, or in the case of the numerous online businesses on the UK market at this moment, an online presence can be established.
No matter the type of expansion you are considering, complying with the national and international tax regulations is vital, in order to not need the legal advice of a criminal lawyer in London.
Investors interested in setting up offshore companies should know that the Isle of Man is a suitable jurisdiction for this purpose. Another suitable country for starting offshore companies is Belize.
Expanding a London-based company through a subsidiary
The subsidiary is one of the most familiar ways of expanding a business in a foreign country. If you decide to create a Singapore subsidiary of your business based in London by opening a private limited company in Singapore, you need to know that you will have many advantages. The first one would be the fact that Singapore is a city-state in which the English language is spoken fluently, therefore there will be no language barriers. Then, your company will benefit from the same treatment of local companies, as the subsidiary is usually registered under the regulations of domestic companies in Singapore in other countries in the world. Moreover, the tax treatment applied to Singapore companies is quite advantageous thanks to the low corporate tax.
Opening a branch office for a London-based company
The other option is the creation of a branch office which is slightly different from a subsidiary company. First of all, you will have a better control of your company when setting up a branch office. If you decide to expand your London-based business into a country in which English is widely spoken, setting up a branch in Hong Kong would be a good option.
If you decide to relocate a larger business, such as a hair transplant clinic, then Turkey should be on top of your options. With a developed healthcare system, the cost of a hair transplant in Turkey and an excellent medical infrastructure will help with a successful expansion.
Expanding a business in another country is not a difficult procedure if all the legal requirements imposed in that country are respected. The taxation system and the licensing regulations should also be considered, as these can play an important role when expanding any types of operations.