Global expansion has its challenges, and one of them is a nation's requirements for an in-country business entity. One solution is establishing a subsidiary under your parent company. While different countries have...
Read MoreGlobal expansion has its challenges, and one of them is a nation's requirements for an in-country business entity. One solution is establishing a subsidiary under your parent company. While different countries have unique requirements, the setup process tends to be lengthy and expensive.
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Global expansion has its challenges, and one of them is a nation’s requirements for an in-country business entity. One solution is establishing a subsidiary under your parent company. While different countries have unique requirements, the setup process tends to be lengthy and expensive.
When you work with Globalization Partners, you can skip the setup process. Our established entities make fast hiring and efficient operations possible in Haiti and more than 180 other countries.
Your company must hire a lawyer to manage each step of setting up your subsidiary. Your lawyer is responsible for registering your business entity with the Registry of the Ministry of Commerce and Industry as well as fiscal and social authorities in Haiti. Your parent company must file the appropriate document with the Consul’s signature at the Ministry of Foreign Affairs. Your lawyer will draft the subsidiary’s statutes.
You must notarize several documents, including your payment of the Tax Authority registration fee. After you register, the Ministry of Commerce and Industry will transfer your documents to publish your deed of constitution in Le Moniteur.
To operate lawfully, you’ll need to wait until all documents have been notarized, filed, approved, and published. Once your lawyer fulfills their obligations, your subsidiary will receive its Authorization to Operate.
International investors can own an entire subsidiary or partner with citizens to form a joint venture. That entity still receives the same privileges as Haitian-owned companies. Plus, global companies may operate without abiding by an equity-to-debt ratio.
Setting up a subsidiary has one major benefit for your parent company. The subsidiary functions independently. That separation prevents your parent company from sharing liability with the new business entity. Your subsidiary can develop a business culture that reflects its individual operations, and the decisions of one company will not affect the other.
However, owning a subsidiary in another country is often unrealistic. If your company wants to expand quickly, the slow setup process can impede your growth.
Fortunately, there’s a faster solution to opening your doors overseas. As a global PEO, Globalization Partners owns established entities in countries all over the world. Your company can use our entity in Haiti to operate lawfully without your own subsidiary.
When you work with us, we shoulder the liability of complying with country-specific regulations. That means you can still enjoy the freedom from legal responsibility that a subsidiary offers. Plus, our team handles the administrative burdens of operating on a global scale, so you can focus on achieving your company’s goals.
To set up a subsidiary, you’ll need a lawyer, at least six weeks, and a fair amount of money to cover the expenses of setting everything up. During the setup process, you’ll also need:
Your lawyer should handle the necessities above. As the parent company, you will need to provide:
Taking your company overseas helps you explore new markets and maximize your potential. As you take this exciting step, you can save time and eliminate liability by working with a global PEO. Globalization Partners will maintain compliance, help you hire top talent, and manage other responsibilities so you can start operations as fast as possible. Our software, legal team, and customer support experts are available to make expansion a seamless experience.
Reach out to our team today for more information about the advantages of outsourcing with a global PEO instead of setting up a subsidiary.
If you’re ready to grow your business, or you have questions about a specific country, complete the form. One of our experts will be in touch shortly.
