If you are thinking to move some part of your business overseas, then there are a few things that you need to check out, before making the final move. Granted, you mulled a while on your ‘move’ and chances are that you certainly did not opt for it on a moment’s notice. But when it comes to moving your business overseas, there are quite a few things that you would have to consider. And while your reasons could vary (for most businesses it has to do with increasing their profit margin), the fact remains that you need to pay close attention to the various points posted below, weigh in all the pros and cons before taking an informed decision.
Rules and regulations: When it comes to moving your business overseas, the first thing that you need to realize is that the local rules and regulations are bound to differ from your own nation. For example, let’s say that your business was earlier based in Philadelphia and now you want to make the move to Bangalore. Then the first thing that you are bound to come across is the change in tax laws, along with the fact that the government of India has different policies and regulations in place than what you had been used to, so far. This is why you may need to spend some time and familiarize yourself with all the local rules and regulations so that you won’t get unduly surprised, later on. And pay attention to the various restrictions that are there in place, as well.
Collaboration: Despite moving to a new location overseas, to cut back cost – you may still have to collaborate with other professionals from back home. The good news is that there are a lot of digital platforms, that can provide you with all the tools that you need to help communicate, collaborate, and share ideas with one other in real time. In fact, some platforms provide you with a sort of digital whiteboard which you can use to hold audio and video conferences, exchange information instantaneously, and much more. So make sure that you research these platforms and register yourself, at the earliest.
Language Barrier: Since you are relocating to a new country, language may well become a problem to some. For example, if you happen to be relocating to Madras, you may be surprised to learn that English is not the lingua franca and that you may well need to hire an interpreter as well. This can get tedious and can impact communication at your office – which is why you may instead opt to join a language class and see if you can pick up Tamil before relocating to Madras.
Culture: The first thing that you need to realize is that both society and culture will tend to be quite different from what you are used to backing home. You need to check out the various social customs and traditions, as well as the culture of the new place that you are planning to relocate to. For example, if you are planning to make the move to Dubai, then you should know that it is considered to be extremely rude to be in close body contact with a member of the opposite sex, in public. And what may seem like a normal, everyday gesture back home may seem downright rude and extremely insulting to others in the new location. This is why you may want to spend a little time familiarizing yourself with the new place, their social conventions, and culture and in general, the society at large.
These are some of the things that you need to check out before relocating to a new country. From language to tax rules, there are various things that you need to familiarize yourself with before you get on that flight. And keep in mind that gestures that may seem normal back home may take on different hues and connotations, when overseas.