Back Office Services- Tag Archives - Business News and Updates

Find the latest Legal updates and changes, industry reviews, regulatory updates, expert legal and accounting advice, Q&A with experts, and much more content.

US-Mexico Trade to Continue During Restricted Travel Period

by Legal Team Mexico | May 14, 2020

According to the US and Mexico governments, it is essential to take measures to reduce the impact that COVID-19 could have on the economic and commercial relationship between the USA and Mexico. The two governments aim to maintain US-Mexico trade during this time. Leaders agreed to apply restrictive measures at the border to control the flow of people between Mexico and the USA. US-Mexico trade during restricted travel period Individuals engaged in lawful cross-border trade are permitted to travel between the US and Mexico. The United States temporarily limited inbound land border crossings from Canada and Mexico to “essential travel”. In March 2020, Presidents Trump and López Obrador met to discuss collaborative efforts to combat the spread of COVID-19. According to White House spokesperson Judd Deere, they agreed on maintaining the bilateral trade relationship over this time and speeding up the implementation of the USMCA (US, Mexico and Canada) trade agreement to support economic recovery in member countries. "President Trump and President López Obrador agreed on the importance of preserving trade and key services, regardless of travel restrictions" Deere said, referring to an agreement to limit movements across the United States-Mexico border only to essential trips. Who is permitted to travel between Mexico and the US? Citizens and lawful permanent residents returning to the United States, including: Individuals traveling: for medical purposes (e.g., to receive medical treatment in the United States)to attend educational institutionsto work in the United States...

New Road Map Aims to Support Argentine Economy

by Legal Team Argentina | Mar 29, 2020

A new economic ‘road map’ aims to support Argentina’s economic situation. On 22 February 2020, the director of the International Monetary Fund (IMF), Kristalina Georgieva, and Argentina's Minister of Economic Affairs Martín Guzmán agreed to renegotiate the South American country's debt agreement during the G20 summit in Saudi Arabia.This article outlines Argentina’s perspective on escaping its financial challenges with the establishment of a new economic road map. Argentina and IMF agree on new economic road map Both Argentina and the IMF are willing to cooperate in order to find a solution to the Argentine debt crisis, which the IMF considers to be "unsustainable" at current credit conditions. The debt is to be reduced to a level that is compatible with "manageable" financing and a "satisfactory" level of growth. Private creditors were asked for "significant" debt cuts - a great relief for the current government of Alberto Fernández. The IMF didn't request budget cuts, which, according to Guzman, were not anticipated from the government until the elections in year 2023.The renegotiation includes a re-examination of the balance sheets of the Argentine economy, as provided for in Article IV of the IMF's founding agreement. This includes an analysis of the exchange rate policy against which the former presidents Néstor and Cristina Kirchner (2007-2015) resisted, and which was only carried out again under the mandate of the neoliberal government under Mauricio Macri. Argentina’s economic challenges Argentina's debt to the IMF is currently around US$44 billion, of...

Expand with Expert Corporate Legal Services in Latin America

by Team Latin America | Mar 9, 2020

Latin America offers plenty of opportunities for foreign businesses. The region develops rapidly and attracts the attention of many overseas companies. Opportunity-seekers take advantage of unsaturated markets, a talented labor pool, and a steadily growing GDP. While expanding your market to Latin America, you have to coordinate through laws and regulations that can differ tremendously from your familiar environment. That’s why legal services in Latin America are invaluable. Outsourcing functions such as market research, human resources, and administrative paperwork reduces the pressure on your employees. Additionally, outsourcing functions eliminates the risk of non-compliance in a new market with unfamiliar regulations. When seeking externally provided legal services in Latin America, local experts take to handle your non-revenue related work. Find out about the services and value of externally-provided back-office services in Latin America, and how they can support your successful expansion in the region. Why expand your business to Latin America? After LATAM has grown its GDP by 0.6% in 2019, the region is likely to rise by another 1.4% in 2020, topped by 2.1% in 2021, as forecasted by BBVA Research, a firm that publishes economic analyses since 1932. Latin America offers business expansions for many sectors, but especially for global tech companies. By 2020, almost 100% of the Latin American population will have access to the internet via a mobile device. That is a market of 450 million people. Latin America offers prosperous opportunities for tech companies...

We’re Expanding: Market Entry and Back-Office Services in Bolivia

by Legal Team Bolivia | Mar 3, 2020

Biz Latin Hub is expanding its reach in the region; we’re now providing our suite of market entry and back-office services in Bolivia. As a regional legal and accounting services provider in Latin America, we’re already operating in the five other countries surrounding Bolivia: Brazil, Paraguay, Argentina, Chile, and Peru. Bolivia will be the sixteenth country where Biz Latin Hub has expanded its operations. As neighbouring economies are gaining traction from foreign business-owners, Bolivia’s largely unsaturated sectors offer viable opportunities for multinational companies. “2019 was a big year for Biz Latin Hub in Latin America,” says Craig Dempsey “2019 was a big year for Biz Latin Hub in Latin America,” says Craig Dempsey, Managing Director of Biz Latin Hub. “The consistent growth demonstrated by many Latin American economies has drawn a lot of international attention. The reputations of countries like Brazil, Chile and Peru have attracted unprecedented numbers of foreign commercial actors. “Many are now beginning to explore their options in some of the smaller, more frequently overlooked countries. Bolivia is one of these countries.” Notably, Bolivia has demonstrated positive consecutive GDP growth since 1999, reaching highs of 6.148% growth in 2008, and 6.796% in 2013. It’s set to continue this growth streak in the coming years, and like many others in the region, is experiencing significant technological development that is catching the attention of innovators worldwide. Its involvement in key regional trade blocs such as Mercosur and the Andean Community also...

Expand Your Business with a Secretarial Services Provider in Ecuador

by Accounting Team Ecuador | Jan 26, 2020

Engaging with a secretarial services provider in Ecuador is a crucial step for multinationals expanding to the Andean country. Although economic growth was slow last year, the ambitious tax and tariff reforms implemented in 2019 contributed to better management of the country's fiscal budget, which is key for Ecuador. In addition, the World Bank estimates an economic growth recovery for 2020. Entrepreneurs operating in or seeking to expand to Ecuador must engage with a professional secretarial services provider to guarantee full fiscal and legal compliance. In this article, we list crucial competencies that you should look for in a secretarial services provider in Ecuador for your expansion. You secretarial services provider in Ecuador must offer bookkeeping services Bookkeeping is the process of recording your business’ financial transactions on a daily basis. It’s the backbone for creating your business’ financial statements. Making sure your financial statements are accurate is crucial, as they will be filed before the Internal Revenue Service of Ecuador (Servicio de Rentas Internas del Ecuador, SRI). Your secretarial service provider in Ecuador will guarantee that your business is compliant with all tax regulations while managing them efficiently. In Ecuador, businesses must file monthly and annual taxes to SRI. Tax obligations vary per industry, but the general tax obligations include your business’s value-added tax (VAT), different withholding taxes and income tax. Payroll processing A key service that your secretarial services provider in Ecuador...

Key Business Accounting Services in Peru for Your Expansion

by Accounting Team Peru | Jan 12, 2020

Utilizing professional business accounting services in Peru is an important step to comply with your fiscal duties. When expanding your business into a new country, it can be complex to understand and have the resources to take care of all accounting procedures. In this sense, seeking professional help from local accountants becomes a great asset. Key activities that your business must comply with include bookkeeping, payroll processing, auditing, and international taxation. Find out about the available business accounting services in Peru that you should take advantage of to ensure your own commercial success. Business Accounting Services in Peru: Bookkeeping Bookkeeping services also take care of local tax compliance. In Peru, businesses are required to file monthly and annual taxes to the local authority. Bookkeeping is a basic accounting process for any business. It includes keeping a daily record of business incomes and expenses. Additionally, it involves the drafting of financial statements that outline your business’ financial condition. These statements must be presented to the national tax authority in Peru, called SUNAT (National Customs Superintendence and Tax Administration). Bookkeeping services also take care of local tax compliance. In Peru, businesses are required to file monthly and annual taxes to the local authority. In addition to this, an experienced accountant will make sure your accounting registries are in compliance with local laws and regulations. Payroll Processing An important part of business accounting services in Peru is payroll. To comply...

Use Incorporation Services in Australia for Your Business Expansion

by Legal Team Australia | Dec 26, 2019

Australia has a record-breaking economic growth pattern, spanning 26 years. The country’s strong agricultural, mining, banking, technology, services and education sectors support a highly productive commercial climate. This Pacific Island nation’s pro-business environment and openness to foreign entrepreneurship and investment make it a hub for those looking to expand into Australia. So, how can incorporation services in Australia support your business expansion? Incorporation services in Australia are many and varied. We talk about the key elements of incorporating a company, and who you’ll want on your team to help you enter this market. Legal and accounting incorporation services in Australia A pro-business environment and openness to foreign entrepreneurship and investment make Australia a hub for those looking to expand into the South Pacific. There are several steps to incorporate a company in Australia. Thankfully, Australia offers a fairly straightforward incorporation process, that involves the following steps: Choose the type of legal entity you want to use - this will decide how your business is governed Reserve your company name Draft the bylaws for your company in Australia Appoint a resident director (you must have at least one) and 3 officeholders Obtain your company’s tax and business identification numbers Deciding the number of shares you will issue for your company, and their class and price Opening and activating a corporate bank account. During the company incorporation process, you’ll want to engage with local legal experts, and perhaps even human...