winding down a business abroad
TRANSCRIPT
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WINDING DOWN A BUSINESS ABROADWHAT YOU NEED TO KNOW BEFORE YOU SET UP
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KNOW BEFORE YOU GO.
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When setting up a new entity in a foreign country, preparation is everything.
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But don’t just consider the setup requirements.
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Consider the requirements for liquidating an entity should your
corporate strategy change.
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Winding down operations can take as long or
longer as it took to start them ...
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... and can be just as costly.
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Only 6% of the companies we asked have a comprehensive strategy for winding down a business abroad.
6%
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Comprehensive planning is the best way to ensure a problem-free exit,
define your growth strategy and corporate structure form the outset.
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Entity closures also create HR issues. Terminations can be costly,
difficult and time consuming.
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41% of the companies we asked found regulatory and compliance issues to be the most challenging when winding down a business abroad.
41%
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Winding down checklist
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Winding down checklistCompany has ceased trading.
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Winding down checklistCompany has ceased trading.Employee requirements have been addressed.
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Winding down checklistCompany has ceased trading.Employee requirements have been addressed.No fixed assets / debtors reflected in local books.
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Winding down checklistCompany has ceased trading.Employee requirements have been addressed.No fixed assets / debtors reflected in local books.Duly settle all liabilities and creditors’ claims .
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Winding down checklistCompany has ceased trading.Employee requirements have been addressed.No fixed assets / debtors reflected in local books.Duly settle all liabilities and creditors’ claims.No outstanding legal actions.
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Winding down checklistCompany has ceased trading.Employee requirements have been addressed.No fixed assets / debtors reflected in local books.Duly settle all liabilities and creditors’ claims .No outstanding legal actions.Compliance is up to date.
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Winding down checklistCompany has ceased trading.Employee requirements have been addressed.No fixed assets / debtors reflected in local books.Duly settle all liabilities and creditors’ claims .No outstanding legal actions.Compliance is up to date.Directorship is up to date.
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Winding down checklistCompany has ceased trading.Employee requirements have been addressed.No fixed assets / debtors reflected in local books.Duly settle all liabilities and creditors’ claims.No outstanding legal actions.Compliance is up to date.Directorship is up to date.Bank account access in place.
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But remember, requirements will vary significantly from country to country.
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Need Help Winding Down Your Overseas Operations?
Connect with Radius:US: +1 888 881 6576 UK: +44 (0) 203 005 5518
Radius helps companies expand and win globally.
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Need Help Winding Down Your Overseas Operations?
Connect with Radius:US: +1 888 881 6576 UK: +44 (0) 203 005 5518
Radius helps companies expand and win globally.
Want More Insight Into Key International Expansion Issues?
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