SETTING UP AN OFFICE

For many companies, establishing overseas offices will be one of the biggest challenges they face

Overview

The logistics of setting up an office in a foreign country can be overwhelming, and great care should be taken in planning for what is needed. The York Group can help its clients plan, providing valuable input on local rules, regulations and conditions that can impact the process.

Steps in the process

Initial planning

Description and function of the international offices

Type of office environment and equipment required to furnish offices

Logistics of subsidiary or branch office creation

Description of management positions and qualifications for these

Budgets for offices and positions

Logistics of payment for procurement

Additional recruiting or other requirements

Detailing the action plan for the project.

Create local subsidiaries

Developing an outline of the requirements for a local subsidiary office, such as paid-in capital requirements, local directorship requirements, and other associated fees

Deciding on the timing of this phase in each market. In some countries, a permanent local company address is required before paperwork can be completed

Setting up a local bank account. This is usually required for completion of subsidiary paperwork.

Setting up telephone service (if necessary to complete subsidiary paperwork).

Completing all necessary forms (including translation if required) and delivering them to the appropriate local agencies.

Locate office space

Outlining office requirements and budget for each country

Identifying suitable office locations in each country

Evaluating the location choices within each country or city, including a description of the neighborhoods, proximity to other types of businesses and other areas, reputation of the locales, and price ranges of office space in that neighborhood.

Obtaining pricing, rental terms, landlord fees and other relevant information.

Making preliminary visits to qualify and prioritize sites

Negotiating the office space contract

Furnish and equip local offices

Making decisions based on local regulations or norms regarding office space (i.e., space per employee; offices or open seating; lighting; etc.)

Purchasing or renting office furnishings

Purchasing or renting office equipment (computers, printers, copy machines, fax machines etc.)

Applying for telephone and internet services (if not already completed).