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Preparing to open a business abroad

We all know someone who has decided to leave everything behind and move abroad. With your business idea in the back of your mind, you’re thinking about it too!

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Leaving your job and moving abroad is a decision not to be taken lightly. You have your own reasons for leaving the country: to escape the economic crisis, to discover another country, another culture, to invest or simply to make a fresh start…

Here are a few tips before you take the plunge.

Make sure you have a viable project

Expatriation is not just for employees. You and your project are equally concerned. You just have to bear in mind that you are taking more risks than corporate expatriates, who will keep the security of their jobs.
Before taking the plunge into the unknown, make sure your project is sound. Your business plan must be impeccable, because a new country means a new market.

Analyze local expectations

Even if you have the impression that your project is on the right track and would be a big hit in France, you need to be sure of its potential and impact in your chosen destination. Each country has its own customsand habits, and you need to adapt your project to appeal to the local population.

Choosing your destination

Of course, it’s best to choose a country that appeals to you, in a tourist or economically interesting city for your business. But that’s not all.
Choose a destination where you already know the language, or at least where communication won’t be a barrier, and where you feel that learning the language won’t be complicated for you.
According to the World Bank, here is a list of the best countries to start a business in 2015:

Find out about the country’s legal documentation

Finding out about current economic, social and tax legislation is not the most exciting part of your project, but it’s essential! So don’t be careless, find out about local regulations: legal status, schemes, legal obligations, administrative procedures…

Not forgetting all the information you’ll need for your personal life on the ground, such as: social protection, taxes, retirement and even schooling for your children.

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