{"id":348,"date":"2022-10-15T01:24:19","date_gmt":"2022-10-15T01:24:19","guid":{"rendered":"http:\/\/lanternpartners.com.au\/?p=348"},"modified":"2022-10-15T01:24:19","modified_gmt":"2022-10-15T01:24:19","slug":"key-considerations-on-making-the-move-overseas","status":"publish","type":"post","link":"https:\/\/lanternpartners.com.au\/key-considerations-on-making-the-move-overseas\/","title":{"rendered":"Key considerations on making the move overseas"},"content":{"rendered":"

So you\u2019ve set your sights on expanding overseas – go you!\u00a0 <\/span><\/p>\n

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But what are some key considerations to ensure that the move goes smoothly?<\/span><\/p>\n

What\u2019s your objective?<\/b><\/p>\n

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Number one on the list is to get clarity around what you are trying to achieve with the overseas expansion and the level of risk you are willing to take in carrying out that objective.<\/span><\/p>\n

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If you are at a testing stage do you need to set up an official presence or can you set up a sales channel to test demand first?<\/span><\/p>\n

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Do you want to lock in an anchor client before you commit to that territory?<\/span><\/p>\n

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Getting clear on these aspects will guide the following decisions you make and the timing of acting on those decisions<\/span><\/p>\n

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Seek tax advice for your plans<\/b><\/p>\n

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Seeking tax advice before you commit to a plan will help minimise painful mistakes or expensive unwinding parts of your setup later down the track.<\/span><\/p>\n

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If you are going to set up an entity overseas who are the shareholders in that new entity? Is it the existing main operating company or direct shareholders or is now the time to look at a holding company structure?<\/span><\/p>\n

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If you don\u2019t set up a formal entity overseas there are still actions that could result in the local tax office assessing that you have set up a permanent establishment which brings with it many of the same tax consequences as setting up an entity. Understanding the parameters to operate within in the early days of expansion are important.<\/span><\/p>\n

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As the founder or major shareholder, if you are going to play a key part in that expansion and are going to base yourselves overseas for a time make sure you understand the personal tax consequences that might be triggered in doing that.<\/span><\/p>\n

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What funding is available for you to support your overseas expansion?<\/b><\/p>\n

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There are a number of government related schemes available to support expansion overseas.\u00a0<\/span><\/p>\n

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Export Market Development Grants<\/span><\/a> are accessible through <\/span>Austrade<\/span><\/a> are available to support expansion in 3 tiers<\/span><\/p>\n