Company Formation- Tag Archives - Business News and Updates

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How to Form an NGO in Peru

by Legal Team Peru | Apr 30, 2020

If you want to form a non-governmental organization, or NGO in Peru, it’s important to understand the key steps and legal requirements to do so. NGOs in Peru are for those individuals or groups with the goal of making a difference in the cultural, social, educational, and political aspects in the country and its communities. In Peru, NGOs are not a separate legal entity, but a subcategory of NPOs (non-profit organisations). If an NGO meets certain requirements, it may be exempt from certain taxes in the country. Find out what you need to know to form an NGO in Peru. What is an NGO in Peru? In contrast to other countries, Peruvian NGOs are not recognized as a separate legal entity; rather, they are part of a subgroup of non-profit organizations (NPOs). An NGO, or non-governmental organization, operates without governmental control. Its operations are non-profit oriented and its objective serves a social purpose. An NGO can maintain itself through private donations, membership or government support, grants, or the sale of goods and services. In contrast to other countries, Peruvian NGOs are not recognized as a separate legal entity; rather, they make up part of a subgroup of non-profit organizations (NPOs) with the addition that NGOs can engage in international technical cooperation. What are the different types of non-profit organizations? There are 3 different types of NPOs in Peru: Association: An association is not limited to pursue a social interest or public benefit. An association may work for any common activity, as long as the goal is not...

How to Incorporate a Company in Guatemala

by Team Central America | Apr 11, 2020

Find out the steps to incorporate a company in Guatemala, a rising hotspot for expanding multinationals in Central America. Guatemala is the third largest country in Central America, with just over 108,000 square meters. The country possesses a richness in natural wealth, and is a valuable hub for international trade, with access to the Caribbean Sea and the Pacific Ocean. The country also has a land connection with economic giant Mexico and is connected with the rest of Central America through a cultural history that dates back to around 2000 BC. Guatemala’s connection between its seaports and container terminal presents clear international trade opportunities for businesses operating from for this country. Incorporating a company in Guatemala is therefore an important consideration to make when expanding to Central America. Steps to incorporate a company in Guatemala Generally, there are 6 key steps to incorporate your company in Guatemala. 1. Seek advice from local market entry and legal experts Before expanding a business, it’s important to establish a road map or market entry strategy. Before expanding a business, it’s important to establish a road map or market entry strategy. Seek advice from local legal and market entry experts to incorporate a company in Guatemala, in order to ensure you can set up and begin operations in full compliance with the law. These experts will help you choose the most appropriate pathway to expansion for your business needs. Appointing a legal representative Companies in Guatemala require a Legal Representative to act on their behalf on...

When Do You Need a Legal Representative in El Salvador?

by Legal Team El Salvador | Apr 8, 2020

Expanding companies must appoint a Legal Representative in El Salvador when incorporating their company. Business owners in this new market must be clear about the government requirements and their obligations they must comply with. Foreign companies should engage with a knowledgeable local expert to guide them through the company incorporation process. Regardless of the type of legal entity, a Legal Representative will be required. The appointed person will act as the legal face of the company before public and private entities. In addition, the Legal Representative has administrative, legal, financial and managerial responsibilities to support the performance and proper functioning of the company. We explain the essential considerations to have a Legal Representative in El Salvador. Who can be appointed Legal Representative in El Salvador? Expanding companies must appoint a Legal Representative in El Salvador when incorporating their company. The Legal Representative in El Salvador can be anyone that meets certain basic requirements: They must be at least 18 years oldThe person must have a Unique Identity Document (DUI) and Tax Identification Number (NIT)The person must be domiciled in the country. In the event that the Legal Representative is a foreign person, they will need to reside in El Salvador to be able to exercise their functions as a representative. Also, depending on the category of your company’s economic activity, your Legal Representative may need a certain academic degree. How to appoint a Legal Representative in El Salvador The way to appoint a Legal...

Build Your Commercial Market Entry Strategy in Chile

by Legal Team Chile | Apr 6, 2020

Building your commercial market entry strategy in Chile can be challenging, but rewarding for businesses when carried out correctly. Many businesses may struggle with the sudden decrease of revenue as current economic uncertainty, also in Chile. Travel restrictions imposed as a measure to counter the spread of COVID-19 make it difficult to manage businesses right now. In such times, it is important to ensure that the business continues, and that business owners have clear goals for their market entry. Now it is more important than ever to seek support from a local expert to build your commercial market entry. By seeking third-party support, you get access to expert guidance without having to leave your own country. A local market entry strategist in Chile will help you build and execute a successful market entry strategy, including providing commercial representation support if needed. How to create a market entry strategy Once a foreign entity has chosen to enter Chile in any specific market, the next step consists in having a strong and clear market entry strategy. Once a foreign entity has chosen to enter Chile in any specific market, the next step consists in having a strong and clear market entry strategy. Simply put, a market entry strategy is the plan outlining how you are going to enter the Chilean market and successfully develop a commercial presence there. In other words, it is a pre-planned course of action stating how your goods and/or services will be delivered in a new foreign country. In order to form a successful market entry strategy in Chile,...

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...

Essential Back Office Services in Central America for Business Expansion

by Team Central America | Feb 16, 2020

Back office services in Central America are essential for business expansion Outsourcing your non-core functions such as data entry and document conversion reduces the pressure on your own employees on the ground, and the risk of non-compliance in a new market with unfamiliar regulations. When seeking externally provided back office services in Central America, you avoid the trouble of hiring specialist employees, and investing in technological and infrastructural fronts. Your work is handled by experts. Find out about the value and availability of externally-provided back office services in Central America, and how they can support your successful expansion in the region. Back office services in Central America: Accounting and taxation An essential part of back office services in Central America is accounting and taxation. The back office provider supports the taxation part of the company by planning and filing the taxes before the local tax authorities. In accounting, a back office service provider can help you with keeping your books and accounting registries, and complying with the local corporate regulations. Your back office services provider can support your accounts payable, accounts receivable, and treasury. Specific needs can be adapted in your reports, for example, complying with the international and local accounting standards in multiple currencies. The back office provider supports the taxation part of the company by planning and filing the taxes before the local tax authorities. As well as Your company can use payroll services. By doing...

What is the Role of the Public Notary in Mexico?

by Legal Team Mexico | Feb 11, 2020

The Public Notary in Mexico plays an essential role in company formation and other processes. It's important that foreign executives expanding into the country understand the Notary's functions and when to use their services. Although the government is foreign business-friendly, Mexican law does mandate strict procedures when incorporating a company, in which a Public Notary plays a vital role. If the company formation process is not followed correctly then this could lead to delays in beginning operations, and extra costs. Therefore, you will need to understand the functions of the Public Notary in Mexico and how it supports business expansion procedures. What is a Public Notary in Mexico? In Mexico, a Public Notary is an experienced attorney appointed exclusively by the Governor of State. In Mexico, a Public Notary is an experienced attorney appointed exclusively by the Governor of State. Their role is to sign and authenticate documents and provide legal advice as is necessary. A Public Notary can authenticate the following documents: Powers of AttorneyCompany deedsBirth, marriage, and death certificatesBanking, insurance, and bonding documentsAssembly of minutes. A Public Notary is obliged to act in accordance with the ethical and moral principles outlined in Mexican law. What are the differences between a Public Notary in Mexico and the US? In the United States, a Public Notary is a person appointed by the government whose sole purpose is to witness and verify the signing of documents. They do not necessarily have formal legal qualifications. A Public Notary in...