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Key Business Opportunities in Uruguay

Key Business Opportunities in Uruguay

Due to Uruguay's social and political stability, the country is positioned as a safe and friendly economy to do business in. Likewise, Uruguay's inhabitants enjoy a high level of equality and it's Per Capita Income (PCI) is relatively high compared to other Latin American nations. The country has also made important progress in tax regulations that have stimulated foreign investment over the last decade. Learn about the business opportunities in Uruguay and why the fastest-growing economy in Latin America can be your next business destination. Trade agreements stimulate Uruguay's business opportunities Uruguay is an official member of Mercosur and The Andean Community of Nations Foreign executives expanding in Latin America must take advantage of business opportunities in Uruguay driven by trade agreements with other major economies in the region. Trade agreements are essential to foreign companies as they stimulate favourable trading conditions, businesses expansion and decrease unemployment rates. Likewise, members have a greater incentive to do business and invest in new markets. Uruguay is an official member of multiple trade agreements, including Mercosur and The Andean Community of Nations. Mercosur Uruguay is considered as a regional hub with a strategic location to access other economies in South America, supported by its membership to Mercosur. The Southern common market known as Mercosur was founded in 1991 by Argentina, Brazil, Paraguay, Uruguay and Venezuela. This trade bloc seeks to create a free trade environment, stimulate investments and the fluid...

What are the Legal Entities in the Dominican Republic?

What are the Legal Entities in the Dominican Republic?

Executives should be aware of the different legal entities in the Dominican Republic in order to choose the right one for their company incorporation. Market observers have recognized the Dominican Republic worldwide as one of the best and top travel destinations for tourists in the Caribbean. However, this island has so much to offer as well for business owners looking to enter the Caribbean region. According to the World Bank, the Dominican Republic has the second-highest GDP figures in the Caribbean. In recent years, we have seen an important increase in foreign direct investment into the Dominican Republic. This takes place specifically in the manufacturing, real estate, export and tourism sectors. This region has also made a name for itself as an appealing hub for foreign businesses through its tax and migration offerings.We provide the most important information about legal entities in the Dominican Republic. Legal Entities in the Dominican Republic for company incorporation Expanding multinationals must incorporate a legal entity in the Dominican Republic as a formal corporate vessel for business. When looking to enter the Dominican Republic, foreign investors are confronted with a choice in terms of what sort of commercial presence they want to have. Expanding multinationals must incorporate a legal entity in the Dominican Republic as a formal corporate vessel for business.Branches and representative offices are viable options for multinational companies. However, the best legal entity must be judged on a case by case basis. Next review the different types of...

How to Form an NGO in Peru

How to Form an NGO in Peru

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

How to Incorporate a Company in Guatemala

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...

Build Your Commercial Market Entry Strategy in Chile

Build Your Commercial Market Entry Strategy in Chile

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,...

Why US Companies are Doing Business in Panama

Why US Companies are Doing Business in Panama

Doing business in Panama can be a smart option for US companies due to strong international relations between these two countries, benefits for foreign investment and the US-Panama free trade agreement.  Panama has the lead in economic growth in Central America, with an estimated GDP growth of 3.7% in 2019 and a GDP per capita of US$15,642. Furthermore, the country is expected to grow by 3.8% in 2020, promising stability and growth for investors. Doing business in Panama: Attractiveness for US investors With attractive benefits for US investors such as currency pegged to the US dollar, easier immigration access, regulations favoring the protection of the company’s information and low fiscal duties, foreign direct investment (FDI) has increased. In fact, c Doing business in Panama is attractive to US companies due to the wealth of business opportunities. The Panama Canal strongly supports import and export activities to Latin America, the Caribbean, and Europe. In addition, financial services, construction, tourism, real estate amongst other ventures are profitable in the country.  1. Free trade agreement with the US The US has a trade agreement with Panama called the United States - Panama trade promotion agreement (TPA). This agreement removes duties for 87% of US consumer and industrial products in Panama, with remaining tariffs to be phased out over the period of 10  years.   The list of consumer and industrial products with duty-free access includes: information technology equipment agricultural and construction equipment aircraft and parts...

When Do You Need a Legal Representative in Colombia?

When Do You Need a Legal Representative in Colombia?

Foreign investors and entrepreneurs will need to engage a Legal Representative in Colombia when they’re forming a company in the country. The Legal Representative in Colombia performs a number of tasks for the new company, including preparing formal documents and submitting them to Public Notaries and government institutions. It’s important to work alongside a trustworthy partner who has a depth of experience and understanding of the Colombian corporate regulations, in order to support successful company formation in complete compliance with local law. What is the company Legal Representative? A Legal Representative is a person or entity that represents and acts on behalf of a person, group of persons or a company. Among the simplest definitions, a Legal Representative can be summarised as a person or entity that represents and acts on behalf of a person, group of persons or a company. In terms of your business expansion to Colombia, this person or entity will formally represent your company in legal aspects. Your representative will act on a legal basis and be responsible for ensuring your company engages in best practice, at all times. This position is rewarded with the utmost responsibility. Subsequently, the chosen representative is personally liable for all actions taken on the company’s behalf before government authorities, private entities and individuals. Who can be appointed as a company’s Legal Representative in Colombia? To be appointed as a Legal Representative in Colombia, you must be Colombian citizen or a foreign national with the legal right to live and...

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