There are many factors to consider when expanding business globally.

Two factors for consideration are the culture and business environment of the country where you are considering doing business. Consider the country's laws for starting and closing a business; whether a country-based business partnership or alliance is required; business licenses; bank accounts; permits; registering property; buying land or a building; tax implications in the U.S. and the other country; financial issues including currency exchanges, trading across borders, employing and paying local nationals and workers from other countries; employment laws; contract laws; potential language barriers; and housing, safety, security, and health.

Sometimes it can appear that the cost of doing business in another country is cheaper but, when all the factors are considered, it may not cost less or be the best decision for your business in the long term.

Below are two resources that provide country information:

https://www.cia.gov/library/publications/the-world-factbook/countrylisting.html

http://www.doingbusiness.org/

Please Note: This material is provided as general information and is not a substitute for legal or other professional advice. Contact the Knowledge Center for more information.

Express Request

SHRM’s Express Request (ER) service allows members to request and receive resources on over 100 timely HR topics via e-mail. Available Express Requests are listed on the web site, and responses are sent immediately.