Several clients have asked to set up multiple subsidiaries in Europe and worldwide as part of both single country and multiple country setups over the last few months. The trend for laying a footprint for expansion abroad has soared upwards even whilst the pandemic was ongoing.
As we slowly exit this turbulent period and having had time to rest and reset during the summer months, businesses are coming back to evaluate how to increase their turnover and profit margin and possibly take advantage of local markets specifically within niche sectors such as recruitment, innovation and technology as well as warehousing for e-commerce clients and new product entry to specific country markets.
New startups have evolved during this period as consumer and business requirements for products and services has changed just like the way we shop and do business has changed slightly to adapt to the circumstances we found ourselves in worldwide.
Hybrid working from home and office is now emerging as the new normal. This then creates a demand for a different set of office equipment, cloud technology as well as transformation in the way we communicate. Less face-to-face meetings, less travel, more technology-based conference meetings also frees up more leisure time.
Many of our customers are looking to expand their innovative ideas into markets where previously there had been a traditional outlook to consumer spending. Generation Z is pressuring demand for a to overturn of the traditional outlook and their views are powering these new technologies and more “planet-friendly” products and services.
Banking has also evolved with the appearance of a glut of fintech companies that are now becoming the accepted norm within the e-commerce environment such as WorldFirst – Wise – 3 sm – DynaPay. Please research carefully before making a decision as to which company you opt for as tariffs and terms and conditions will differ.
When setting up a company in Europe or worldwide you may need a retail bank to deposit the share capital. Increased compliance means that inevitably a business plan may need to be drafted as well as possibly a CV in addition to the standard due diligence requested.