Thanks to the opportunities and benefits, namely business-friendly environment, good banking systems, tax optimisation, and asset protection, among many others, there has been an increase in the number of businesses moving to international jurisdictions. Some locations that have gained popularity include the Cayman Islands, Luxembourg, Ireland, and of course, Mauritius.
To successfully establish your business as a global venture requires not only a healthy balance sheet but a global presence. Medium-to-large corporates in particular will need to inform their continental or global strategy insofar as it relates to their cross-border set-ups with expert knowledge on various pertinent aspects, including familiarity with your chosen jurisdiction, the ensuing tax laws, exchange controls, and more.
This expertise is necessary, because it can’t be assumed that things work according to the same rules and approaches as are common in your business’ country of origin. It’s important to note that these rules and regulations aren’t necessarily better or worse, but they are different and have serious implications. Given that the days of operating a ‘post box’ company in international terrain are gone, sufficient knowledge is crucial when establishing a business of substance in the country of incorporation to minimise the potential of any wrong moves, enable you to comply with the regulatory burdens and expenses, and of course to flourish.
It’s also important that you are equipped to anticipate questions and be willing to respond and share any information requested, which is now a norm in the age of compliance and tax transparency. The risk of errors and non-compliance carry serious penalties, such as the revocation of your global business licence.
The prevailing wisdom is to partner with reputable service providers who can as a minimum, effectively incorporate your company, set up your corporate structure to allow for good governance, and ensure your business is fully compliant with your chosen jurisdiction. The kind of partner, like Loita Management Services, who can provide accurate guidance and facilitate the management of administrative tasks for you after the incorporation. The right partner will also enable you to run your businesses more effectively, knowing that your corporate management is handled in a jurisdiction where transactions are effected cost-effectively on a same-day basis across continents and the compliance and operations are of an EU expected standard.
When looking for the ideal partner, there are some parameters that I have identified during the course of my time working with compliance and governance in the structuring of cross-border set-ups.
These parameters include:
- The number of years in operation.
- The company’s experience in the field.
- The physical location/s of the company.
- The number of jurisdictions that the company covers (if you choose universal providers).
- Their customer service track record.
- Their overall reputation.
In each of these areas, myself and my team have excelled, and as business and financial environments have become increasingly complex, we have risen to the challenge and developed and embraced up-to-date compliance solutions with state-of-the-art IT systems that will ensure your transition to the global business sector is successful and sustainable.
About to establish a global business? Let Loita be your ideal partner
Owing to the fact that there is more required from businesses looking to establish themselves abroad, it is essential to seek advice and guidance in order to mitigate the risk of non-compliance and operate effectively within the law. At Loita Management Services, we offer advisory and administrative services in the global business, trust, and financial sectors to international world-class organisations, individual investors and high net worth individuals, corporates, and multi-nationals working in multiple jurisdictions wishing to establish a presence in or related to Mauritius.
As an independent director for Loita Management Services with over 20 years’ of hands-on knowledge of structuring business operations and facilitating payment solutions across Africa, I have seen first-hand the necessity of and the input required to set up international businesses that are financially compliant within their selected jurisdiction and operate with good governance. I have extensive experience with structuring global businesses, assisting and guiding the management where necessary, and to date, have worked with an array of reputable banks, management companies, as well as with the FSC, EDB, and Registrar of Companies.
To attain our services, get in touch with us at Loita Management Services at your convenience.
By Kim Guého