Expand your business
At ABLD we help our clients expand their business in Europe. Setting up your own foreign subsidiary, and managing it, has never been easier and more affordable – even for start-ups and small businesses. Did you know it is not even necessary to hire local employees or commit to long-term office leases?
Why do business in Europe through your own subsidiary? Just a few of the most important reasons we heard from our clients:
- Your relationship with your customers is vital: There is no better way to get to know overseas customers, understand their needs and stay on top of market developments than to serve them directly through your own subsidiary.
- More clients make your business more stable and profitable: Rather than sell at reduced prices to a single importer, making your business heavily dependent on a single partner, you can sell to multiple customers in Europe at higher margins through your own subsidiary.
- You control the future of your business: In a traditional arrangement, an importer or distributor has every incentive to lock you in long-term and ensure, one way or another, that you lose your clients and business in Europe, unless it continues through them. This means that the execution of your growth strategy relies on the willingness of your distributor, whose priorities (and the people involved) may very well change over time. With your own subsidiary, you control the future of your business.
What we* can do for you
The short answer is: everything, except sales.
- We will get you incorporated locally, arrange for all necessary filings and permits (if needed) and maintain you in good standing at all times.
- If you choose to operate your subsidiary without local employees – which you can – we’ll take care of the administrative running on your behalf as per your instructions, including keeping accounts and sending out invoices.
- If you wish to hire local employees – or fly in your own – we’ll take care of everything to make sure they hit the ground running. That means taking care of visas, work permits, employment contracts as well as all of the other practical factors, from finding a place to live to arranging for schools, doctors, you name it.
Regardless of how you choose to run your subsidiary, we’ll keep an eye on it for you, to ensure that your interests are best served at all times.
* ABLD collaborates with several external parties to provide full service, but all your issues will be supervised by a single contact person.
Much of it depends of course on how you want to operate and manage your subsidiary, but you should consider at least the following costs:
- Incorporation costs: the most straightforward way will cost you €10k. Only in exceptional circumstances will incorporation costs exceed €17k.
- Recurring costs of running your business: Regardless of the amount of activity in the subsidiary, expect to incur around €10k on a yearly basis for the minimum of book keeping, filings and tax returns.
What about sales?
- Quite likely you already know to whom you’d like to sell directly, make them an offer
- Hire a commercial sales agent who works on a commission basis for you to visit prospects and customers
- Sell online
Get in touch with us. We are ready to answer any questions you may have.