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6 Solutions for Starting a Business Overseas

The idea of a fresh start draws many travellers abroad.

Whether you’re after a sunnier climate or a different pace to life, taking the leap and moving can be a great way to start living your dreams.

While many choose to retire overseas, some of us don’t want to wait that long. While setting up your own business abroad can be a challenging task, it’s perfectly accomplishable and well worth the effort that you’ll put in.

If you’re thinking of moving overseas and want to make your living with a business of your own, then check out six suggestions for simplifying the process.

Learn the Language

While you’ll probably pick up the language of your new country by living there, this can take a lot of time.

It’s a good idea to invest in some language lessons, such as those by Rosetta Stone. It’s never too early to give yourself a head start!

Get to Know the Country

This isn’t just good advice when setting up a business abroad, but something that you should do before making any move overseas.

Make sure you visit the area you plan to move to a few times first. This way, you’ll be able to get a feel for the place and find your way around.

By visiting the city that you plan to relocate to, you’ll feel much more comfortable there when you do eventually make the big move.

Local Legal Advice

Rules and regulations for setting up a business might be vastly different in your chosen location, and you want to make sure that everything you do is above board.

The best way to ensure that you’re following procedure is to hire a local lawyer to help you navigate unfamiliar policies. Not only that, but this is one vital connection you should make early on, as you’ll have someone local to rely on for any future legal advice you might need.

Conduct Market Research

Before choosing to set up somewhere new, you should always conduct market research to ensure that the area is a viable choice for your business venture.

Of course, this is the case wherever you’re setting up. However, it is particularly useful when starting a business overseas. Your new country may have different cultural views and traditions to your own, and this can help you gain a better idea of them and help your new company thrive.

Consider Visa Requirements

Moving and working abroad isn’t always a simple process. It’s important to find out what visa you’ll need before you go. If you turn up on a holiday visa and try to set up a business, you could end up in a lot of trouble.

Luckily, estate agents such as Property Lisbon have some great advice on Portugal’s Golden Visa scheme. A Golden Visa is a visa that is obtained through property investment, and it allows you to live and work in your chosen destination.

Advice From Other Expats

You won’t be the first person to emigrate to your new country, and those who came before you can be an excellent resource for information and advice.

Use social media, such as joining local Facebook groups, to connect with others who have made the city their home. This way, you won’t feel so alone when trying to settle in.

Have you started a business overseas? Share your advice in the comments below!