Doing Business- Tag Archives - Business News and Updates

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Survey: Help Us Understand Current Attitudes on Doing Business in Latin America

by Team Latin America | Jun 5, 2020

Take our short survey and share your perceptions about the current and future outlook for doing business in Latin America: Perceptions of doing business in Latin America | Hacer negocios en América Latina We are seeking to understand general attitudes about working or doing business in Latin America, and understand what individuals and companies may be planning for the future. We are seeking to understand general attitudes about working or doing business in Latin America, and understand what individuals and companies may be planning for the future. If you work or own a business in Latin America, or are considering doing business in the region, we want to hear from you! This survey will take 4-5 minutes to complete. Data collected will be used to inform our market studies and digital content creation. Why is it important to understand how people are doing business in Latin America? Governments working to counter the spread of the COVID-19 pandemic in their respective countries are taking widespread measures that have varying degrees of impact on business. During these challenging times, individuals and businesses face uncertainty as they try to maintain and develop operations in economically turbulent markets. We want to understand what some pain points for individuals and businesses might be, and which countries or regions these perceptions are felt. We will present content based on this anonymized feedback to our readership to communicate others’ perspectives in markets they are operating in. Finally, we want to help. With over 5 years’ experience supporting companies to...

How to Get a Business Visa in Peru for US Citizens

by Legal Team Peru | Jun 4, 2020

Find out how to get a business visa in Peru as a US citizen. Peru is still one of Latin America’s best-performing economies with a solid economic and industrial background. Despite current conditions changing the country's economic landscape, Peru is still considered one of the most attractive countries in the region to invest in or do business. To do business in Peru as a US citizen, you will need a business visa. The Peruvian government is constantly making its best effort to improve the commercial environment. The country is improving its legal framework to ensure that investors, whether foreigners or nationals, are treated as equals. It is important to know that there are two types of migration options for foreigners. They are as follows: Temporary Stay: Foreigners enter the country just for tourism or business.Residency: Foreigners who apply to live and work. Work, investor, and business visas in Peru for US citizens Peru is improving its legal framework to ensure that investors, whether foreigners or nationals, are treated as equals. Peru has different types of Peruvian visas for different uses. The most commonly required visas are: Working visa This is a visa for foreigners who want to work for long periods of time in Peru. It is important to note that this type of visa requires you to have an employment contract with a local company. This visa is usually obtained by incorporating your own company and then hiring yourself to this company. Investor visa This visa is for foreigners who want to establish, develop, and administer a company. Note that this Peruvian visa...

Manage Your Business Risks With Due Diligence in Bolivia

by Legal Team Bolivia | May 31, 2020

Due diligence in Bolivia is the best way to ensure the safety and security of your business operations in the country. Future business executives should be aware of the challenges they may face when doing business in Bolivia, such as the local legislation, market behavior, and appropriate risk management. Undertaking due diligence processes will significantly improve your ability to make informed decisions when doing business in Bolivia. These processes provide business owners with critical information about companies and partners, including an extensive analysis of financial, legal, labor information, or even environmental practices. Carrying out due diligence will significantly improve your possibilities of making better decisions when doing business in Bolivia. Understanding due diligence in Bolivia Processes for due diligence in Bolivia for market entrants include in-depth investigations to analyze the profitability of expanding a new business. Collected information helps to evaluate the risks that executives may face. A local third party can carry out the appropriate market research to give comprehensive and knowledgeable feedback to the company. Both parties can operate under a confidentiality and exclusivity agreement to undertake this work. With the information gathered from due diligence research, executives can understand potential strategies, liabilities and contingencies to enter the market. Why is due diligence important in Bolivia? Bolivia’s economy has grown considerably in the last few years due to the extraction and export of natural gas, silver, zinc,...

Benefits of Doing Business in the Dominican Republic

by Legal Team Dominican Republic | May 22, 2020

The benefits of doing business in the Dominican Republic attract prospective businesses from all over the world. The country is located in the heart of the Caribbean, in the Hispaniola island, where Eastern and Western values meet. It creates an ideal climate for business development. As a country with a unique culture, history, and business climate, the Dominican Republic has a lot to offer. As part of the Caribbean Community (CARICOM), the Central American Free Trade Agreement (CAFTA), and other treaties with North America and the European Union, the country has opened its market to foreign businesses and new development opportunities. The Dominican Republic receives one of the largest pools of European funding for infrastructure and development which shows great potential for facilitating future business. Find out the benefits of doing business in the Dominican Republic, and why you should consider expanding to the developing Caribbean region. Doing business in the Dominican Republic: strategic geographical location Located on the crossroads between Eastern and Western Caribbean, the Dominican Republic is a trade link between the large markets of Central, South, and North America for trade and transport. The country shares only the border with Haiti, is close to US hub Miami and developing Central American economies, offering wide trade opportunities. The Dominican Republic also benefits from a free flow of goods and services as a member of CARICOM and DR-CAFTA. The CARICOM is made up of 15 Member countries and an additional 5 Associate Members based in the...

5 Challenges for US Companies Doing Business in Chile and How to Overcome them

by Legal Team Chile | May 20, 2020

Over the last decades, numerous US companies have successfully undertaken the challenge of doing business in Chile, a country that is known for having the best business expansion opportunities in Latin America. Last year, direct investment in Chile increased by US$11.928 million, and for the first half of 2020 the country registered a record figure of US$4.779 million. This encouraging panorama has historically and currently attracted investors from all over the US, expanding their business in the industry of mining, technology, and Venture Capital. Last year, direct investment in Chile increased by US$11.928 million, and for the first 2 months of 2020 the country registered a record figure of US$4.779 million. A paradigmatic example of recent US investment in Chile came in 2019 when Jeff Bezos - founder and CEO of the e-commerce company Amazon - invested millions of dollars in the Chilean start-up NOTCo, which successfully mimics the flavor and texture of certain foods using only vegetable-based ingredients. Although Chile’s dynamic and developed market has been in the scope for multiple US companies, executives should be aware of the challenges they may face to prosper in the country. In this article, we review the principal challenges for US companies doing business in Chile and how to overcome them. 5 Challenges for US companies doing business in Chile 1. Language US executives must not assume that everybody in Chile speaks English. Even though English is increasingly common and is taught in most schools to a large percentage of the population, US companies doing...

7 Tips to Do Business in Colombia Under COVID-19 Restrictions

by Craig Dempsey | Apr 29, 2020

Use these 7 practical tips to continue doing business in Colombia during uncertain and challenging current conditions. The Colombian government has implemented several temporary Decrees and ‘Circulars’ (Circulares) to manage commercial operations and strains on company cash flows and counter the spread of COVID-19. At present, these measures are deemed temporary and there is currently no intention to enforce permanent changes to doing business during this time. Last week, Biz Latin Hub's Managing Director Craig Dempsey participated in the webinar ‘Commercial Implications of COVID-19 in Colombia,' organized by the ALABC and ACBC. Doing business in Colombia: challenges and advice Last week, Biz Latin Hub's Managing Director Craig Dempsey participated in the webinar ‘Commercial Implications of COVID-19 in Colombia,' organized by the Australia-Colombia Business Council (ACBC) and Australia-Latin America Business Council (ALABC). As part of his presentation, Craig provides key practical advice to support businesses who have experienced delays or are unable to move forward with their original business plan. Consider the following information and guidelines to continue doing business in Colombia under current temporary restrictions. 1. Hire staff through a PEO to sidestep visa and company incorporation issues Temporary visa restrictions While Colombia’s borders remain closed, companies cannot obtain working visas for foreign nationals currently outside of the country. This is challenging for companies in the middle of hiring processes, whose candidates were not inside Colombia’s...

Australia and New Zealand’s Economic Packages to Support Business

by Legal Team Australia | Apr 13, 2020

Find out about Australia and New Zealand's economic packages to support business for local companies. Like many countries. these South Pacific Island nations have taken measures against COVID-19. Strict social distancing measures in place across the world can impact business activity quite significantly, as many are unable to operate, or are operating at a reduced capacity. The global economic situation has changed, and businesses may struggle to stay afloat.Australia and New Zealand are executing campaigns to support local companies in order to prevent them from going bankrupt. Gain insight into this overview: Australia and New Zealand's economic packages to support business. Overview of Support Campaigns in Australian and New Zealand Australia and New Zealand's government introduced economic packages to support business in the countries. The following sub-headings will show you some examples of the actions they carried out. A company called Business Australia, this organization gives advice and guidance to help Australian business owners navigate through these difficult times. Australia's support campaign Business Australia, a free membership organisation that supports over 40,000 companies in Australia, gives advice and guidance to help Australian business owners navigate through these difficult times. To offer extra support during this challenging time, they have converted a big part of their website to offer resources for free for all businesses in a campaign. The resources available support businesses in preparing their continuity plan and finding creative ways to...