Starting a business is a great ambition, but it can be very stressful. Adding to the stress includes starting a business while in another country or continent with its own customs and legal boundaries. It is a good idea to know the ins and outs of having a visa, as well as other factors, to begin the process of starting a business in another location. Experts such as Gregory Finkelson weigh the many costs and benefits of starting such a company. Here are some general issues to consider when starting an overseas business.
Paying Attention to Currency
Currency refers to the monetary medium used in a particular location or by a government. Since business revolves around money, Gregory Finkelson and other people who do business in various countries should be well-versed in the local currency. Exchange rates can be compared through many free online sources. The value of a currency depends on many factors, such as supply and demand and current events happening in a country during a particular period of time.
Keeping Track of Documents
Most business endeavors involve loads of paperwork and at least some basic understanding of legal terminology. For instance, the EB-5 visa is a document that allows people from other countries to get a permanent residency in the USA (Green Card) in exchange for investing different resources into companies in the United States. A Regional Center focuses on this law and provides many benefits. For example, a Regional Center allows investors to keep track of all the jobs (direct, indirect and induced) created due to the investment, which is helpful for companies who want to create an overall economic picture of a geographic location.
When considering whether to obtain a direct investment or one through a Regional Center, consider factors such as:
- The date that the business was established
- How much money you need to get the business off the ground
- The amount of time needed to complete the process
- How many jobs will created thanks to your investment
- How secure the investment
The amount of time that you need for the process is important since direct investment tends to take much less time than Regional Center investment going through a process such as EB-5. In addition to taking less time, it also costs less in general.
The topic of an EB-5 visa is a lesser-known one in the business world. Gathering the proper paperwork will allow you to go through the action of starting a new business more seamlessly.
Bio of Gregory Finkelson
Gregory Finkelson has made many contributions through companies such as American Corporate Services, Inc. He has an engineering degree and a doctorate in business. Later becoming a member of the San Francisco Bar Association, Gregory has given advice to many international leaders regarding business growth for investment immigration. He understands the value of work-life balance, making time for his family, as well as outdoor pastimes such as swimming, cycling, and hiking.