Working in Tunisia is a great opportunity for your country to expand borders and form new business relationships. An expansion to this country can also help you establish ties to Africa and...
Read MoreWorking in Tunisia is a great opportunity for your country to expand borders and form new business relationships. An expansion to this country can also help you establish ties to Africa and eventually other countries around the world. However, you'll need to either work with a global PEO or establish your own subsidiary to work in Tunisia.
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Working in Tunisia is a great opportunity for your country to expand borders and form new business relationships. An expansion to this country can also help you establish ties to Africa and eventually other countries around the world. However, you’ll need to either work with a global PEO or establish your own subsidiary to work in Tunisia.
Globalization Partners has an entire Tunisia subsidiary outsourcing process that can help you expand quickly without any stress about compliance. Instead of incorporating in the country using your own entity, you can run your company through our Tunisia PEO. As the Employer of Record, we’ll follow Tunisia’s subsidiary laws for you and ensure you stay compliant.
Instead of jumping right into setting up your Tunisia subsidiary, we recommend taking a step back and considering several important factors. Start by finding a city or region to base your physical headquarters. Different locations within Tunisia can have various Tunisia subsidiary laws that make it either easier or more difficult to incorporate. Talk to a lawyer, consultant, or accountant if you don’t know what region would be best for your subsidiary.
Another important consideration is your entity. The subsidiary structure allows for several different types of companies, including a limited liability company (LLC), public limited company, branch office, or representative office. The structure you choose should depend on your planned business activities and goals. For example, an LLC will give you the most freedom to operate in Tunisia, while a branch or representative office will give you the least.
Setting up your Tunisia subsidiary as an LLC includes steps such as:
Tunisia’s subsidiary laws are all different depending on the entity you choose. If you decide to incorporate as an LLC, you’ll need at least two shareholders and one director. They can be of any nationality and do not need to live in Tunisia. Since LLCs operate much like a resident-run company, you need to register for VAT and corporate income tax with the Tunisian Tax Authority while going through the overall subsidiary registration process. As long as your company’s total assets are below $55,000, you will not need to appoint a statutory auditor.
Once your company completes the Tunisia subsidiary setup process, you’re ready to handle all other facets of your expansion, such as hiring employees, establishing payroll, and more. If you choose an LLC, you also won’t have to worry about your parent company being liable for the subsidiary’s actions.
Although these are important benefits, it can take a lot of time to receive them, as the subsidiary setup process can take months or even a year. Globalization Partners knows companies can’t wait for months or a year to start working in Tunisia. Also, not all companies have a global compliance expert who can help with Tunisia’s subsidiary laws. That’s why we provide Tunisia subsidiary outsourcing through our global expansion solution. We’ll work with your company from day one to help you be productive in Tunisia without the stress of compliance.
Companies expanding without the help of a global PEO such as Globalization Partners need to prepare for the challenges of the incorporation process ahead of time. Try working with your other company executives to set timelines and delegate tasks. Then, set a budget with your finance department to determine how much money you’ll need and when you’ll need it. Finally, hire a consultant or third-party expert who can make sure you follow the correct laws.
Globalization Partners has an entire team of compliance experts who want to help you succeed in Tunisia. Contact us today for more information about Tunisia subsidiary outsourcing and our other services.
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