The Global View: Winter 2019/20
Our business is focused on enabling you to implement your international expansion plans quickly and efficiently. Our aim, supported by our global resource and knowledge base, is to provide you with the peace of mind, knowing that we have made you compliant with all rules and regulations.
Whether you are making your first hire in a new country or looking for a more streamline way to manage your multiple international operations, we can provide a solution that is tailored to your needs.
We offer you a global service, working in your time-zone, with a team who delivers a tailored service.
Single point of contact
Our centralised services work across all countries making it easy for you to stay on top of the issues.
We have us a deep understanding of the challenges companies face overseas.
You focus on business, we focus on your administration.
Your success is our success: we like to be accessible at all times.
Have what you need from us, no more and no less, when and where you need it.
Expanding your business overseas requires confidence. Doing so in new and remote markets requires assurance. Assurance that you are getting the right advice, first time, from people who are interested and understand your business and committed to your success.
We work with our clients to determine the most appropriate registration types to put in place in each of their target countries. In many countries the choice of options includes:
Establishing a subsidiary need not be costly or over-engineered. Depending on location it is usually possible to establish a subsidiary within one to six weeks. Certain countries, with more onerous registrations requirements, such as China, Brazil, India and Germany can take longer, sometimes up to six months to complete full registration.
Many of our clients establish a subsidiary because of the protection it affords to the parent company and use it to act as the parent company to regional branch offices. Others use it as a regional profit centre as part of a wider global tax planning exercise.
A Branch is often a quick and easy way to establish a full operating presence in an overseas country. Registration time is generally quite quick and costs are not onerous. One additional advantage is the speed with which a branch can be closed down should the parent no longer require it.
Note that a branch is not a separate legal entity to its parent company and as such represents an extension of the parent in to a new legal jurisdiction. Companies should be careful about the potential tax and permanent establishment risks that they might arise whilst operating through a branch in a foreign company. They should also consider the filing requirements and the potential for parent company data to be made available to the public in the overseas country.
We increasingly find this route can present more challenges as many legal systems are less developed in this area. As an example, it is not currently possible to invest in China directly through a branch and in Brazil it is almost impossible to establish one.
A Representative Office is generally a non-taxable business registration that can be used for preliminary market research and market entry purposes. Activities of a commercial nature are not typically allowed to be undertaken and customers cannot be invoiced from a Representative Office.
In China, while the same commercial limitations are imposed on Representative Offices, they are taxed on a ‘cost plus’ basis.
As with a branch, the Representative Office is not a separate legal entity to its parent and as such the parent continues to carry all trading and employment liabilities. Many of our clients use an interposing holding company to act as the parent to their international Representative Offices, however some countries impose regulations that restrict this practice (e.g. China and India) where others expressly prohibit it.
Working seamlessly as an extension of your HR and legal departments, we aim to make the process of employing and managing your international staff as painless as possible. Our suite of services:
CCW Business Solutions provides all of its clients with a comprehensive range of financial accounting solutions tailored to meet your requirements.
Your finance team need regular visibility on performance of your international operations. We can provide this in a variety of ways to suit your particular requirements.
Typically this take the form of monthly financial statements for your own reporting purposes together with quarterly reports to support board presentations.
Our support throughout the year might include:
Getting your employees paid on time and the correct amount is clearly critical to the success of your international operation.
CCW Business Solutions is able to offer a truly global payroll service. Centrally coordinated, we will:
In addition, we also wire the withholding taxes and the employer and employee portion of the social security taxes to the local authorities whilst at the same time ensuring that any additional items, such as pension arrangements, are also taken care of.
Our payroll services are an integrated feature of our turnkey finance and HR solutions and ensure there are no missed steps as a result of a lack of communication between separate service providers.
Operating in overseas countries presents a significant challenge. Each country has different tax laws and compliance requirements and filing deadlines vary greatly from country to country.
We ensure that your international tax filings are made and that your compliance deadlines are met by agreeing with you a timetable of deliverables at the start of each financial year. We then use our own local experts to ensure that these are taken care of for you.
If you operate a branch or a subsidiary overseas you will be required to file a corporate income tax return. These returns are typically filed once a year, however some countries require more frequent filings. Wherever you are operating, CCW Business Solutions will ensure that your returns are prepared and filed in accordance with local rules.
Value added tax legislation is complex and can have a significant impact on how you might structure your international sales agreements. Whether you are shipping product, selling services or enabling your customers to download software online, there are VAT issues that need to be addressed upfront in order to avoid complication and penalties arising at a later date. CCW Business Solutions’ professional VAT team can provide full guidance and support on all of your VAT issues.
Where you may have related party transactions between the US parent company and its overseas subsidiaries then these transactions and services should be documented just as they would be if they were with an independent third party. Our tax team can advise on and implement the documentation required in order to ensure you comply with local country transfer pricing legislation.
If you plan to grant stock options to your international hires you need to know the implications of doing so. The tax point can vary from country to country and the cost to the employer as a result of an employee exercising those options can be significant. With careful planning it can be possible to take advantage of some favourable local rulings and CCW Business Solutions can help you to do this.
If you plan to send one of your North American employees overseas for more than six months you will most likely be required to withhold overseas taxes from their pay-cheque each month. This can present significant challenges, particularly for a US citizen who is taxed on a worldwide basis and who wishes to continue to contribute to the US social security system. CCW Business Solutions provides an end-to-end tax service that will give you and your employee peace of mind that they will not be suffering an additional tax burden as a result of their international assignment.
Angola, Austria, Azerbaijan, Bahrain, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Egypt, Estonia, France, Georgia, Germany, Ghana, Greece, Hungary, Iran, Iraq, Ireland, Israel, Italy, Ivory Coast, Jordan, Kenya, Kuwait, Latvia, Lebanon, Liechtenstein, Lithuania, Luxembourg, Madagascar, Malta, Mauritius, Morocco, Netherlands, Nigeria, Norway, Oman, Palestine, Poland, Portugal, Qatar, Romania, Russian Federation, Saudi Arabia, Senegal, Slovakia, Slovenia, South Africa, Spain, Sweden, Switzerland, Syria, Tanzania, Tunisia, Turkey, United Arab Emirates, United Kingdom
Australia, Bangladesh, Brunei, Cambodia, China, French Polynesia, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, Mongolia, Nepal, Pakistan, Philippines, Singapore, Sri Lanka, Taiwan, Thailand, Vietnam