Touchdown Europe - International expansion made simple
Touchdown Europe offers you a unique service, making your European move simpler, faster and hassle free.
Let us and our partners in Touchdown Europe take the strain and leave you to take care of your business. We’ve helped hundreds of companies, pre and post IPO, to successfully enter the European market using these ten steps…
Step one – Marketing
How do you have maximum impact in Europe? How will cultural differences affect how your product is viewed? Are there barriers to entry, or competitors already in the market? Do you know your target customer base and how to reach them?
Touchdown Europe can help you find answers to these questions before you physically arrive in Europe.
Step two – Site selection
Where will you set up? Many US businesses find the UK an attractive place to base their European business.
Tenon Techlocate can provide you with one-stop-shop resource, including advice on the best locations for your business, details of grants and incentives available and introductions to national, regional and local development agencies e.g. UKTI and SEEDA in the UK.
Step three – Structure
What does setting up in the UK involve? How does it impact in the US? How does expansion into continental Europe work?
You need to choose the right legal structure for your business. The choice of place of business, branch or subsidiary impacts on limitation of liability, public disclosure of financial statements, costs of compliance (audit, tax, etc) and can have a commercial impact. We will advise you on your most appropriate structure.
We can also advise you on how to protect your business with appropriate registrations and trademarks.
Step four – Trading and tax
Do you want to sell locally in Europe, or from the US? Do you need a special tax structure? How will transfer pricing work? Will this affect you in the US?
The structure you adopt will impact on your customers: you may sell to them in Europe, or sell from the US (and have your local European office acts as a sales, marketing and support office). This will affect who books the sales revenue, which has important consequences for the US and European operations – both for financial reporting and tax.
We will advise you on selecting the best structure for your business, at this stage of growth, assist you with drafting contracts suitable for European clients and advise you on transfer pricing and record keeping requirements.
Value Added Tax and Import Duty can be complex. We can advise whether registration for VAT is necessary (or advantageous)and help you avoid the pitfalls. We are able to take care of both your direct and indirect tax filings and other compliance matters.
Step five – Recruitment/people
We can help you with all your HR issues. Locally this includes finding and recruiting the right people, advising on relevant terms of employment and related legal obligations.
We can advise on appropriate employee benefits packages to attract and retain the best staff. This ensures that you comply with the relevant legislation, and we will implement and manage a whole package of staff benefits, insurances and investment schemes, tailored to suit your business requirements.
If you are sending employees to the UK we can help obtain the appropriate visa and permits, and advise on the full range of expatriate tax issues, including international planning, equalisation/ protection, Social Security matters and tax return filings – all helping to build your image as a ‘caring employer’.
Where you are looking to include stock options as part of their package, we can advise you on the different schemes available, which have differing benefits to the company and individual.
We can help you determine if you have consultants or employees. When you're employing even one staff member, you'll need to ensure compliance with European payroll legislation. We can accommodate any size of payroll and deductions for benefits can be paid through our payroll service. We also deal with all year end returns and completion of annual returns of benefits form.
At this stage you will also need to consider commercial insurances such as Employer’s Liability Insurance, which is a statutory requirement.
Step six – Financial management
Suitable banking and finance facilities will need to be implemented to ensure the efficient transfer of funds between Europe and your corporate HQ. We can make appropriate arrangements on your behalf and have bank accounts opened with cheque books and electronic banking facilities.
Keeping tight control of an overseas operation can be a worry. Using Microsoft Great Plains®, we provide a menu of accounting support services to ensure you retain control.
Most companies setting up in Europe outsource all their accounting to ensure control of available funds through the operation of an independent accounting function. We can report to local management or directly to the parent. We can handle:
- > Preparing monthly management accounts and reports
- > VAT returns
- > Purchase ledger management
- > Expense claims – checking and reimbursement
- > Payments to suppliers
- > Sales invoicing
Step seven – Office space
We can advise you on commercial property issues, highlighting the choices available to you and the best one for your business needs. We can advise you on appropriate contracts and terms for your business needs.
We can source your serviced office accommodation in any European country or advise you of larger development options.
Step eight – PR and consultancy
As your European business begins to develop you may consider enhancing its presence in Europe by using a PR agency. We have in-depth knowledge of the media landscape on both sides of the Atlantic.
It may also be the right time to revisit your European strategy and make the most of market opportunities. We can work with you on a project basis to assess your targets and approach.
Step nine – Compliance/AIM
Many of our clients use an international firm of accountants to deal with their audit services. We can deal with everything up to and including the preparation of audit files for the appointed auditors, so minimizing your audit costs. Alternatively we can complete the audit for you, typically at much lower rates than the ‘big 4’ accountants.
If you are considering listing on AIM we can help you prepare the legal and financial aspects of your business for this. We will work with you and your nominated advisor (Nomad) to make your listing a success.
Step ten – European market
Many of our international clients start their business operations in the UK as a stepping-stone into the rest of Europe. Acting as your European financial and administration centre, we can help to source professionals who can deal with local employment legal and accounting issues. We continue to control all accounting and reporting from the UK.
Our network extends throughout Europe and includes service partners in most countries. Working with them, we can offer guidance, support and practical assistance in most areas of business.