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So you’re ready to expand your business abroad. You’ve done your due diligence and carefully selected your country of choice, you’ve identified an opportunity and a favourable environment to expand your business to. So now what? How do you get the ball rolling?  A recent survey found that nearly six out of ten UK SME’s are considering establishing their business overseas to drive growth, so you're not alone! To help you on your journey here are 5 areas to get right when you expand your business abroad, whatever country that might be. Define your goals and develop a strategy for your global expansion!  Like any big, overwhelming goal it's always best to break it down and set clear objectives. First of all, what are you trying to achieve with this expansion - access to better infrastructure or business environment? Increasing your customer base? Diversifying your risk? - There are many reasons to expand internationally, having a clear understanding of what you are trying to achieve will help you make better decisions along the way regarding your strategy.  Second of all, review the assets you have in-house and identify what’s missing. Where do you lack in-house expertise? Can you find a mentor or a partner to help with this? How are you going to finance the expansion - do you need to go out and seek funds? And finally, information - what do you know and what do you need to find out about to embark on this expansion. A simple way to approach this is to start with a list of questions, some you have the answer to, some you will need to research. Tip: Download our global expansion checklist here to give yourself a structure to your global expansion and pose questions you may not have thought about.  Get to know the legal system!  In a recent survey, legal advice was identified as the most useful form of guidance when it comes to setting up overseas by 46% of respondents. This comes as no surprise as the impact of getting this wrong can come with terrible repercussions.  There are normally 3 main considerations - company and employment law, intellectual property and data protection. Understanding these three areas will help you identify the disparities from your current location and will affect decisions such as who or how many people you employ, what company set-up you choose, what intellectual property protection you will need in place and how to set up your data handling systems.  Tip: Do your desk research first to flag any imminent obstacles that will affect your entrance strategy - it will give you a basis when you seek specific legal help further through your journey.  Decide what method of global expansion is the best fit for your business! Consider your market entry options, you may want to set up an overseas office, franchise, direct export, license or even buy a local company. This is where knowing your business's expansion goal is key and understanding the local environment is crucial to see what the implications of this decision might be. You will also need to decide what entity you want to set up in the new country, what company set-ups are available to foreigners - and what the tax or legal implications are of those company structures might be. This is country by country specific. Tip:  Specific details on company set-ups for each country can be found on our free platform - Centuro Connect, with detailed information on over 100 countries. Explore here!  Get your business finances global expansion ready!  With a new country comes new requirements for tax & accounting, as many companies already do in the UK, outsourcing taxation, payroll and business accounting is a smart move. However with something as delicate as your finances you want partners you can trust.  It is also wise to see what financial incentives may be available to companies looking to set up in the new territory. Some countries offer incentives to encourage entrepreneurs and businesses to expand to their region. With the total cost of expansion often unclear, it is important not to miss out on extra funding if available!  Tip: International global expansion often costs more than expected. Make sure you have a contingency fund to ensure you can complete the expansion.  Establish a team - global expansion HR!   Depending on the market entry method you have decided to pursue you will have to create an employee strategy. Local employee’s come with an invaluable understanding of the local culture, methods of doing business and potential connections in the industry. However, with this comes the challenge of employing the right people, staying on the right side of local employment law and trying to ensure the new venture is carried out in line with your existing businesses strategy. Which if you aim to disrupt may be highly important.  Using existing employees involves managing the visa process to ensure that they can legally work in the country you are expanding too whether that's temporary or long term. Plus ensuring they have applicable skills to succeed in the new country.  Tip: Whatever your employment strategy, make sure you have a clear idea of what decisions or actions need to be made locally and what decisions will be made centrally - then make sure you have the right people in the right locations to facilitate success.  Gather detailed information for your global expansion!  This is just an initial look at some of the considerations when expanding your company abroad! To help with this mammoth task we have launched a new platform - Centuro Connect, that dives into specifics for each country helping you do your research all in one place!  It is completely FREE - no hidden costs - just the ultimate tool for understanding market entry options, HR, Immigration, Legal Requirements, Tax & Accounting and much more …. with 100 + countries it has the specific information you need from global expansion experts.  Take a look at the platform here!   

Expanding your business in any capacity is a challenge that takes knowledge, willing and time. Successful global expansion will provide you with a new economy to work within, a wealth of industry resources that may not be available to you in the UK, and other new profitable opportunities. Germany’s economy is currently ranked as the 4th healthiest country in the world. The UK is currently ranked 1 place behind in 5th. Because of its steadily growing and healthy economy, Germany is a fantastic option for those looking to expand their own business overseas.  Whilst all the signs point towards Germany being a great place to expand your business, that doesn’t mean it’s a simple process. There is time, planning, and red tape to overcome before this dream becomes reality. That is why we created Centuro Connect to help streamline the entire global expansion process. Explore Centuro Connect, a FREE platform tailored to businesses and industries of all types, with a bank of valuable information and guidance all on expanding your business to a choice of 100+ countries. Below, we’ve detailed some of the key factors and reasons why setting up a company in Germany is a fantastic idea. All of the country-specific data and information used in this blog comes from the Centuro Connect platform, giving you an idea of just how in-depth this resource really is.  Life in Germany Business aside, relocating yourself and/or your assets to another country can be a daunting prospect. It’s important to understand from the beginning whether or not Germany suits you personally, and not just your company. There is considered to be a much more compartmentalised approach to life in Germany than we’re used to in the UK. There are stricter rules on hours worked, with the official limit being set at 40 hours a week - five days a week. In the UK the limit is 48 hours, but employees can opt to work more than that. This ‘hours per week limit’ means more leisure time for those living in Germany, with a general attitude that distances socialising hours from working life.  Living in central Europe means that, naturally, you’re central to many other countries. Whilst very beneficial from a commercial point of view, this is also a personal benefit to many that would otherwise not experience this in the UK. There’s the option for plenty of traveling in your additional leisure time! Germany is also considered a particularly metropolitan country. If you don’t quite have the dialect fine-tuned yet, know that over 70% of the population also speak an additional language as well as German! Notable Benefits of Expanding to Germany This is the part that is perhaps most crucial in determining the next steps for your business. You want to ensure that expanding makes financial sense first and foremost and that Germany is providing you with something different from the UK. We’ve already touched upon the economic strength in Germany, but what else is there to know?  The 4 focus industries in the country are Automotive, Mechanical Engineering, Chemical, and Electrical.  The governmental support for SMEs is much higher than other countries in the EU. Benefits include; Low-interest business loans of up to 10 million euros Recruitment and training support Wage subsidies for entrepreneurs that register a German company. Doing business in Germany requires less backing than many other locations. Only one director and one shareholder (from anywhere in the world) are required to set up a company in the country.  In terms of the marketability of your services or products, Germany has a population of 82 million people. This makes it the biggest market in all of Eastern Europe, with only Russia having a higher population on the continent. This continues to be one of the key drawing points for those looking to expand their company from the UK, where the market is a much lesser 68 million residents.  Germany also has a highly educated population, with 81% having a recognised professional qualification or entitled to register at university. With a highly educated population comes a highly educated workforce. How to Get the International Expansion Ball Rolling Creating a German startup is actually much simpler than many realise. Expanding internationally is a challenge, but when done correctly, it can be a streamlined process that enhances your business hugely.  Want to learn more about how to expand your business to Germany?  If you would like to learn more about expanding your business to Germany, or 100+ other countries the Centuro Connect platform has details on tax, immigration, market entry points, HR, marketing, and real estate - plus contactable reliable experts to help you ace your expansion.  This means that no matter what stage of the expansion journey you’re at, support is there if you face a challenge.  Start your global expansion journey to Germany. You can sign up for the FREE Centuro Connect platform today! There’s no risk, no hidden costs, and no endless documentation to fill out. Just a wealth of guidance and support, here to aid you and your business throughout your international business expansion. Sign up today by clicking here. 

As a result of the United Kingdom (“UK”) exiting the European Union (“EU”) on 1 January 2021, a number of financial institutions in the UK lost their “exclusive” right of access to utilize the European Economic Area (“EEA”) passporting rules. These changes have also been felt by financial institutions based in Gibraltar. Back in 2016, it was reported around 5,500 UK companies with licensed activities which have passported their authorization (i.e., a licensed activity) into the EEA are impacted as a result of the UK exiting the EEA bloc. While the UK certainly has a more favorable corporate tax regime when compared to the other Member States, wider access to a larger marketplace seems to be the more favorable option in the long run for most companies. It is also without a word of doubt, the UK’s focus on retaining its presence as a financial services leader is ever strong, for example, the recent relaxation of some of the eligibility requirements for companies seeking to IPO.3 Following the recent memorandum of understanding agreed between the EU-UK, concerning financial services cooperation, no visible guarantee was given to hold UK rules as equivalent to EU rules.4 While this mist of uncertainty hovers above the UK financial services industry, institutions are gearing up for plans B and C. Seeking the necessary permissions and compliance via each individual Member State’s national regimes adds complexity and substantial costs for FinTech companies based in the UK. This is something that all FinTech companies would ideally like to avoid or circumvent.WATCH OUR WEBINAR ON DOING BUSINESS IN A POST-BREXIT EUROPE. In the last couple of years, the Baltic states (i.e., Latvia, Lithuania, and Estonia) have geared up and responded by implementing favorable regulatory frameworks for all FinTech institutions. With this FinTech focus and benefits stemming from the passporting rules, the Baltic states are slowly driving the industry and attracting all the major market players, including Revolut. In this series of articles, we outline the important practical considerations one needs to consider for each of the Baltic states; their regulatory advancements, licensing benefits, stock options, capital markets, and alternative financing mechanisms. These tools provide a beneficial and attractive environment for financial service institutions to either start out in life or continue growing their business. LATVIA Latvia’s regulatory regime supporting FinTechs In terms of numbers, one in five new Latvian startups belong to the Financial Technology sector.15 The Latvian Financial and Capital Market Commission (“FCMC”) has made available the Innovation Hub and Regulatory Sandbox to any market player for professional support and consultancy services in relation to existing and upcoming regulation.16 A good example of highlighting the FCMC’s readiness and competence to supervise the financial services industry is in relation to the upcoming EU crowdfunding rules. The European Parliament has recently adopted the Regulation on European Crowdfunding Service Providers (“ECSP”) for businesses.17 The ECSP is already in force and is applicable from 10 November 2021. The ECSP is binding in its entirety across the EU and will provide a new and comprehensive set-up for crowdfunding platforms to operate under. In Latvia, the FCMC has already begun working and consulting with companies establishing or established to correspond with the upcoming rules in the ECSP. Several of the largest European peer-to-peer marketplace platforms have originated in Latvia, such as Mintos and Twino, which are currently adapting to the recently adopted regulatory changes, by either acquiring an investment firm license and/or electronic money institutions license.18 E-money and payment licenses In order to obtain a license to operate an electronic money institution or for the operation of a payment institution, the company must submit a complete application to the FCMC. Depending on the licensed activities, the minimum capital requirement for an EMI is EUR 350,000 and for PIs starting from around EUR 20,000 up to EUR 125,000. The FCMC shall take a decision on the issuance of a license or refusal to issue a license and inform the applicant within three months after receipt of all the necessary documents, as well as detailing the reasons in the event of a refusal. If all relevant documents are not submitted or submitted incomplete, the FCMC can prolong the duration for an additional three months, and therefore the licensing process can take up to 6 months (and as we have seen in practice, sometimes even longer). In the event, a FinTech company already holds the respective documentation for a UK-issued EMI or PI license, it could save time in adapting the documents and reduce the assessment period before the FCMC. For FinTechs who intend to provide innovative payment service, FCF reduces state fees for the examination of documents submitted for the respectively chosen license of either electronic money institutions or payment institutions. Following the registration or authorization, the annual charge is also set lower than average for the first three years.19 In other words, these instruments assist with limiting the financial burden (i.e., licensing and maintenance costs) at the early stage. Attractive employee stock options The main demand for employee stock options originates from FinTechs and other start-ups, which attract strong and high-level candidates for skyrocketing their ideas into a profitable company with promising equity. Employee stock options, if developed thoughtfully, can attract employees for the long-term and set the ownerships’ mindset. Especially within the startup community, stock options are also used in cases when a company is not able to afford the increases in employees’ salaries at the time. At the beginning of 2021, the Latvian Personal Income Tax Law and Commercial Law brought about favorable changes. These changes expanded the possibilities to grant stock options not only to joint-stock companies but also to limited liability companies’ employees, board and supervisory board members, and other related companies’ employees. The minimum holding period has been reduced from 36 months to 12 months and in addition, it is possible to exercise the option within 6 months after employment is terminated without losing the tax exemption. Access to capital markets and alternative sources of financing The FCMC has undertaken (until 31 December 2021) to create a development and support model enabling enterprises to prepare for their participation in the capital market in case of the issuance of shares and/or bonds.20 Similar to Lithuania, Latvian SMEs can apply to reimburse the costs incurred by acquiring third-party advisory services necessary exclusively for the listing of shares and/or bonds.For more information on doing business in Latvia or in Europe, please don't hesitate to send us an email at hello@centuroglobal.com.  

1. Lithuania’s regulatory adaptation and transparencySince early 2017, the Bank of Lithuania has instigated the rapid development of a FinTech-conducive regulatory and supervisory ecosystem, which continually fosters innovation in the financial sector. The two most notable events were: first, by opening a regulatory sandbox in late 2018 to allow startups and FinTechs to test their innovative products in a live environment under the guidance and supervision of the Bank of Lithuania.5 Second, as a result of the UK’s EEA departure and in the absence of an agreement on financial services cooperation between the EU and the UK, some UK companies with licensed activities subsequently passported into the EEA not wanting to be locked into only one single market. Lithuania has led by example, by inviting financial service institutions under their roof with an appealing and easily understood regulatory regime, attractive marketing plan, convincing regulatory supervision, as well as rapidly adapting national regulations for FinTechs, InsurTechs, RegTech, and other startups. One of the most recent examples is Revolut, which transferred its EU customers from its UK-based company to a Lithuanian company. After setting up a Lithuanian company and acquiring a license for its activities, Revolut’s Lithuanian company has passported its licensed activities based on the provision of services without a branch in the other 29 EEA Member States, providing clients uninterrupted services. Revolut went even further by establishing and acquiring a Special Purpose Bank (“SPB”) license. The latter license permits Revolut to receive deposits and other repayable funds from its clients (Revolut currently provides this service in a total of 13 Member States). In terms of numbers, Lithuania edges ever closer each year to the level of the UK within The World Bank Ease of Doing Business rankings. While Lithuania continues to improve its regulatory regime, in some areas (ahead of the EU), the existing transparent regulator and ‘easy on the eye’ regulations, Lithuania is leaning towards becoming the dominant “Fintech Hub” in the EU. The most popular licenses in Lithuania Almost half of the FinTech companies in Lithuania hold an Electronic Money Institution (“EMI”), Payment Institution (“PI”), or SPB license. A majority of these companies can also issue prepaid cards and digital wallets for the benefit of their clients, in addition to making money transfers. E-money and payment licenses The respective provisions of the Lithuanian Law on Electronic Money Institutions defines “electronic money” as a monetary value as represented by a claim on the issuer which is issued on receipt of monetary funds by the electronic money issuer from a natural or legal person and has the following characteristics: (i) stored electronically (incl. magnetically); (ii) is issued for the purpose of making payment transactions; and (iii) is received by persons other than electronic money issuers. For any FinTech company to be able to accept money from clients in the ‘electronic domain’ and to hold it in payment accounts for a relatively long time, issuing electronic money and then redeeming it, prior to being able to do, it is first necessary to become an electronic money issuer. The Bank of Lithuania supervises and authorizes electronic money and payment institutions within Lithuania. The authorization process usually includes: (i) submitting an application for an EMI license to the Supervision Service of the Bank of Lithuania; (ii) an assessment of the application for a license of an EMI and attached documents; and (iii) issuance of a license or refusal to issue a license. The entire authorization process, depending on the completeness of the documents submitted, usually takes around 6 to 12 months. If, however, a FinTech company already holds an EMI license and respective documentation in the UK it is considered to be an advantage in producing the necessary documents, as well as saving time during the authorization process. An SPB license A key feature of an SPB is the minimum capital requirement of EUR 1 million, while for traditional banks, it is EUR 5 million. In terms of timing, it is possible to acquire an SPB license within 9 to 12 months. An SPB differs from a traditional bank and comes with a number of restrictions attached to the services which an SPB can provide. An SPB is subject to limitations in investment and other financial services of a similar nature. The respective services an SPB can provide are the following: 1) acceptance of deposits and other repayable funds; 2) lending (including mortgage loans); 3) financial lease (leasing); 4) payment services; 5) issuance and administration of travelers' checks, bills of exchange, and other means of payment, if these activities do not include payment services; 6) provision of financial sureties and financial guarantees; 7) financial intermediation (agent activities); 8) money management; 9) creditworthiness assessment services; 10) rental of safe deposit boxes; 11) currency exchange (in cash); and 12) issuance of electronic money. One of the notable benefits of holding an SPB license is the deposits of any one individual may reach up to EUR 100,000 and are insured under the deposit insurance scheme. SPBs are participants of the deposit insurance system and are obligated to make regular (ex-ante) and special (ex-post) deposit insurance contributions to the Deposit Insurance Fund of Lithuania. Importantly, an SPB license is valid across the EEA and activities can be passported to the other Member States enabling access to the EEA financial services market. As previously mentioned, a good example is Revolut. CENTROlink The Bank of Lithuania operates a CENTROlink system designated for processing and executing payment orders between Single Euro Payments Area (“SEPA”) participants. The Bank of Lithuania provides technical access to SEPA schemes (credit transfers (“SCT”), direct debit (“SDD”) and instant payments (“SCT”)) for all types of payment service providers – banks, credit unions, e-money, or payment institutions – licensed in the EEA. Any EEA licensed payment service provider has an option to access CENTROlink, given there is no mandatory requirement to establish an entity in Lithuania to access CENTROlink. A recent example of a financial service institution accessing CENTROlink is TBI Bank EAD. The latter is registered in Bulgaria and has passported its activity to Lithuania and the Bank of Lithuania has approved its access to CENTROlink system. Employee Stock Options On 1 February 2020, new tax-favorable legislation for the treatment of employee stock options came into effect in Lithuania. Employee stock options can be exercised at no cost or for lower than their fair market value price, but no earlier than three years of holding stock options, from the date they were granted, are treated as non-taxable income for personal income tax purposes. Access to capital markets and alternative sources of financing To encourage the development of capital markets in Lithuania, micro, small, and medium-sized enterprises (“SMEs”) can reimburse the costs incurred in acquiring third-party advisory services necessary exclusively for the listing of shares and/or bonds. In such a way, SMEs can access alternative sources of financing with initially lower cost, for example, by receiving advisory services on setting set up a compliant and viable structure and on the respective financial instruments to be provided in the marketplace. In recent years, the government has paid a lot of attention to the development of capital markets. Legislation has been adopted to develop alternative sources of financing: (i) a legal framework for crowdfunding and peer-to-peer lending has been established; and (ii) private limited companies have been allowed to issue bonds publicly.

Estonia’s e-government and embrace on digital platforms In 2014, Estonia became the first country in the world to offer electronic residency to individuals from outside the country. The E-residency program equips e-residents with a digital identity and the status provides individuals access to Estonia’s transparent digital business environment. With the e-residency kit, an e-resident can sign documents and can establish a company online from anywhere in the world, access banking, payment processing, as well as settle tax-related obligations.21 A great benefit that comes with e-residency is the network of already existing e-residency entrepreneurs ready to share their experiences with outside companies who are interested in joining the community. E-money and payment licenses In order to obtain a license to operate an EMI or for the operation of a PI, the company must submit a relevant application to the Estonian Financial Supervision Authority (“EFSA”). Depending on the licensed activities, the minimum capital requirement for an EMI is EUR 350,000 and for PIs starting from EUR 20,000 to EUR 125,000. The EFSA shall take a decision on the issuance of a license or refusal to issue a license and inform the applicant within three months after receipt of all the necessary documents, as well as detailing the reasons in the event of a refusal, but not later than within six months after receipt of the application. The seat and the principal place of business of a PI or EMI entered in the commercial register shall be located in Estonia.22 Start-up status and visa Once a startup has decided to relocate its founders and/or employees to Estonia, the first step would be to apply for the ‘Startup Status’. Once the startup holds the Startup Status, the company can hire global talent with ease and the founder can apply for a visa or a temporary resident permit.23 Estonians are open to attract non-EU founders via the startup visa, which is also designed for start-ups to ease the process to hire non-EU talents. To be eligible for the startup visa a founder must have a technology-based, innovative and scalable business in mind, at least EUR 160 per month available for day-to-day needs and to receive approval from the Startup Committee. In light of recent amendments, if approved, as of 19 February 2021 the same visa will be granted to family members – spouses and children.24 Stock options Currently, Estonia does not hold any specific incentive scheme for start-ups, and issuance of employee share options is provided based on existing general regulations. Rules regarding the offerings of transferrable securities are used to facilitate the need and together with the tax regime currently in force (applicable to all private companies), there are favourable options. Tax exemptions for share options can be applied if an employee holds stock options for at least three years. Most of the terms and conditions attached to stock options are established within a stock option agreement between the company and the option holder. Access to capital markets and alternative sources of financing While the issuance of bonds and/or shares is a regulated market in Estonia (similarly as in Latvia and Lithuania), Estonians have taken a big leap and in late 2017 passed legislation with the aim to regulate cryptocurrency trading. The latter gained popularity in the amounts of initial coin offerings (“ICOs”) and token generation events (“TGEs”).25 The structures of ICOs and TGEs vary and may be used to raise capital for different kinds of projects, for example, creating new coin, app or service launches. These structures provide for an alternative source of financing and are more frequently used for seed/early-stage financing, instead of the ‘traditional’ initial public offering (“IPO”) where the financing is company-based and usually is used as an exit after venture capital funding. Any ICO or TGE should be assessed on its substance to define whether they should be treated as an issuance of a security instrument or not and which corresponding regulation should be applied.26 Where to go…? Well, it depends. There is no right or wrong answer. With certain limitations now visible for certain UK-based FinTech businesses trying to reach EU customers, detailed and clear thought needs to be given as to how to potentially widen the options in a fast-growing and developing industry. In the event the EU holds UK rules as equivalent to EU rules, as a result of further discussions, passporting considerations may not be necessary. Without access to the EU marketplace, it significantly reduces the actual or potential customer headcount and therefore limiting prospective growth opportunities. The Baltic States are leaning towards providing somewhat of a City ‘complement’ for FinTech businesses who wish to serve customers throughout the EEA. Regardless of the vision taken, it is important to carry out the necessary due diligence and preparations before engaging any of the regulators in either of the Baltic States.Right from pre-launch planning to initial setup and registration; Centuro Global will work with you, offering end-to-end assistance in navigating complexities by activating the local business ecosystem and offering a coherent roadmap of actionable solutions. Start on your global expansion journey with us today! Enquire today or feel free to send us an email.  

When we think of business expansion, we often associate this type of growth with employing more staff or upgrading to a larger office space. For some, true growth comes from testing your business in new cities, countries, and continents. But how easy is it to expand your business abroad, and where do you even start? Fortunately, Centuro Global has engineered a brand-new and unique platform designed specifically for those looking to expand internationally. It acts as a centralized online resource where you can research, plan and learn more about your expansion journey. It’s a simple setup process, and it's completely FREE!  Here are just a few of the benefits the Centuro Connect platform provides aspiring businesses; A tailored approach to your business expansion needs. A detailed bank of key facts and statistics for 100+ countries around the world. Business and industry insights that are location-specific. Insights into the economy, legal, banking, property, immigration, and more A timeline feature that details and tracks each step of your business expansion. Professional support and industry specialists on hand to aid your journey. WHAT IS CENTURO CONNECT? As with any business that’s scaling up, taking your company abroad isn’t without its challenges. Being able to streamline and visualise the process is invaluable when taking on such a task. Below, we’ve detailed the key areas in which our ‘Centuro Connect’ platform is designed to make your business expansion journey as simple, streamlined, and stress-free as possible. Bespoke & Tailored To Your Business No matter your business size, type, or industry, the Centuro Connect platform facilitates global expansion to a wealth of countries. When setting up your free login with Centuro Connect, the process begins with answering several easy questions about your company. You don’t need any specific documentation to complete this process, just a good idea of where your company is at currently and what direction you’re looking to take next. With this information, we’re then able to quickly suggest the best course of action. It may be that you’re at a point where one of our expert team members can reach out to you straight away and start discussing your options. If you’re a little earlier on in your global expansion journey, then it will be beneficial to gain some further insight from our online resources. Expanding your business abroad is never a ‘one size fits all' solution. Because of this, we’re always sure to tailor your ongoing plan in a way that suits you. If your circumstances change at any point, you can easily go back and resubmit your information for a more accurate experience. Extensive Country-Specific Insights The Centuro Connect platform allows you to choose from over 100 countries. If you already have an idea of what region or specific country you want to relocate or expand to, you can easily choose one from our interactive world map. If you want to browse your options, you can do so in the same way. Simply hover over and select the countries that appeal to you the most to find out more. If you change your mind, simply go back to the map and choose another option. For every country that’s applicable, comes a wealth of information. This ranges from general facts about the location you’ve selected, as far as legal requirements and office solutions. All of this information is accessible on an easy-to-use webpage, with each option coming with a dropdown option, making it extremely easy to navigate. Accurate Time Framing  Expanding your business overseas is far from an overnight process. With every detail that goes into successfully setting up abroad, it can be daunting, and even off-putting, when it comes to defining a timescale. Centuro Connect’s extensive insights mean that we can provide you with an estimated timeline for each aspect of your global expansion. In visualising your expansion journey, you can better understand the process from start to finish. You can also define internal deadlines for specific processes and plan your businesses’ future with a much higher degree of certainty. A time frame will appear in a timeline format, which is broken down into months. Each aspect of your businesses’ global expansion will have its own place on the timeline, showing at which stage of your journey it should be completed. Expert Support Global expansion shouldn’t be a lonely process. When working with the Centuro Connect platform, you’re actually working alongside a big team of experts that are contactable at the click of a button. Each country has its own bank of local experts with its own relevant specialisms. These industry specialists have been handpicked and can help you on your journey. You can access the profiles of these experts and contact them easily when you need a helping hand. Specialist areas include immigration, tax, market entry points, HR, and marketing support, just to name a few. The level of depth that the platform goes into means that users have virtually everything they need to know on one page. If you’re looking for an opinion or advice, however, this might be the time to contact a specialist. Who are Centuro Global? Centuro Global are the founders of the Centuro Connect platform. We assist businesses in entering and scaling into new markets through compliant solutions. Our in-depth experience gives us valuable insights into the key challenges of understanding local markets. Our Centuro Global services take care of every step of the expansion journey from tax, legal, immigration to HR and Payroll allowing our clients to trade in any jurisdiction with ease and efficiency. The Global Connect platform has been created as a centralised resource for businesses looking to branch out overseas. The platform and its contents are completely free to use. Centuro Connect was specifically designed to have a simple sign-up process and easy-to-use features, all whilst not costing businesses a penny! International expansion is a challenging process, but we have the technology to make it a streamlined and much simpler journey. You can sign up for the Centuro Connect platform for FREE today! There’s no risk, no hidden costs, and no endless documentation to fill out. Just a wealth of information and like-minded experts to help you throughout your international business expansion. Sign up today by clicking HERE.

Expanding into new and foreign markets is a complex enough undertaking without worrying about your technological systems. Since many nations in developing and emerging markets are still relatively immature technologically, companies need to know that their ICT can be relied upon to support their business, no matter what the industry Eighty-one percent of companies consider technological progress the main factor of change for the next 5 years, while 50 percent of the world’s leading manufacturing companies invest in IT applications and infrastructure to help them be more flexible and agile. Technological change reshaping business growth and expansion will only intensify as artificial intelligence, advanced robotics, and cyber-physical systems take the digital revolution to another level. So it is to technology that companies must turn to help them overcome the challenges of expanding in new markets.  Technology in its fullest understanding is the capability that leads to outcomes, whether tangible or intangible. For this to happen, typically, certain skills and procedures are required. Early advances in human history are closely associated with technological progress, specifically with the history of energy. Yet, it was the dawn of the printing press towards the end of the Middle Ages which spurred the Renaissance, and which eventually led to the first recognizable techno-economic revolution of the modern age. Better known as the Industrial Revolution, this era was characterized by the mechanization of the cotton industry and the construction of canals, waterways, waterwheels, and turnpike roads. Since then, certain key trends associated with technological progress became clear: The size and footprint of technologies continue to increase beyond imagination, proven by bigger container ships and airplanes, higher buildings and dam walls, and space-age scientific experiments like the International Space Station, the Square Kilometre Array (SKA), and the Large Hadron Collider. Technology also becomes smaller and increasingly manifests at nanoscale. Think about gene sequencing and its applications in the medical and agricultural industries; Every technology epoch is characterized by a different principle of operation. A sequence of capabilities can be conceived of, starting with manual effort, followed in sequence by fire, speech and art, mechanics, steam, electricity, internal combustion, electronics, mechatronics, and lately characterized by the convergence of neurotech, biotech, infotech and nanotech; Technology becomes more accurate and efficient. From the crude capabilities of stone tools to the pinpoint accuracy of a laser, of GPS navigation and digital capabilities in general, there is steady progress in accuracy and efficiency; Technology becomes increasingly complex, and understanding thereof less accessible to the layperson; and Due to the conflation of these characteristics, technology also becomes more expensive, yet more omnipresent. HOW TECHNOLOGY ENABLES GLOBAL EXPANSION Future-focused leaders, in conclusion, strife to become technology-fluid. This means they attend to the following priorities: They realize that technology is all-pervasive and powerful and that the current transition to robotics, artificial intelligence, and quantum computing requires them to render technology a top priority on their governance and oversight agendas; They actively pursue strategies to ensure that their technology assets have been sourced responsibly, that the workings thereof respect the privacy and dignity of all living things inasmuch as environmental health, and that once retired these technologies are fed back into the recycling streams representative of their industries; They evaluate technology and technology innovation proposals for their relevance, appropriateness, and functionality, with relevance interrogating immediacy of need and of utility value, with appropriateness interrogating fitness for purpose, and with functionality interrogating outcomes with efficiency and sustainability gains; and They pursue Integrated Reporting in order to inform all stakeholders of their attention to detail, inclusive of technology impacts, and they remain conscious of immediate technology priorities, such as the need for digital governance, focusing on social media strategies, thorough data and privacy protection principles and practices, and exploration of data monetization strategies. The global solutions offered by technology can be exactly what your company needs to expand internationally and by choosing the right technology tools to power your global expansion, you’ll soon find the world is at your fingertips. Discover how our 20 years of experience in global markets can help your organization seamlessly integrate new locations into your infrastructure HERE  

The energy market in Japan has some of the biggest investment market potentials in the Asia Pacific region. Their robust grid infrastructure, renewable goals, and significant capacity demonstrate that additional value already exists. The ability to invest in renewable energy assets in Japan—and thus to contribute to the country’s energy transition—also presents a significant opportunity for long-term capital from around the globe. Notably, a recent study has shown that Japan can create 67,000 new jobs by investing in domestic renewable energy projects by 2030. This would be a positive step as countries seek to rebuild their economies in the wake of COVID-19—and potentially catalyze a movement toward investment-led growth. In the aftermath of the devastating March 2011 East Japan Earthquake and resulting nuclear crisis, the Japanese government was forced to radically overhaul its long-term energy strategy. Following the crisis, Japan made the unavoidable decision to shut down all of its 54 nuclear power plants (which prior to the Fukushima Daiichi meltdowns accounted for more than 30% of its power supply) and drag dozens of thermal plants out of mothballs to compensate. This sudden jump back to a dependence on fossil fuels may have been a big boost for “Big Energy” companies, but it represented a pronounced about-face from where Japan aspired to be in terms of clean energy. Fortunately, it also triggered a grassroots movement strongly in favor of safer, renewable energy technologies and vehemently opposed to any return to a reliance on nuclear power. It has taken nearly a decade for the government to come around, however it looks like 2021 could very well be the year that Japan truly earns its spot at number 12 on the 2019 “Environmental Performance Index,” right behind The Netherlands. While considered to be “on the greener side of green” when it comes to environmental policies, Japan’s long-term relationship with nuclear power has come with a considerable amount of risk, both from accidents and also considering the environmental impact of storing high-level radioactive waste in a country with very little space for storing anything. Enter the power of wind, which in parts of Europe has become one of the largest sources of clean energy. Wind power features none of the dangerous by-products of nuclear power, no flooding of villages or damming of rivers like needed for hydro, and better overall efficiency than solar. With the passing of the Marine Renewable Energy Utilization Act two years ago, Japan now has 120 offshore wind farm sites that are under development, with four locations in Akita, Aomori, Chiba, and Nagasaki prefectures fast-tracked for local approval and implementation.WHY EXPAND INTO JAPAN? At the vanguard of the wind projects are two Danish multinationals: Vestas and Orsted, each at the top of the charts globally in the production of wind turbines and offshore development. Leading the charge in Japan is the nacelle innovator Vestas, whose joint venture with Mitsubishi Heavy Industries (MHI) on the Akita-Noshiro project is currently powering the delivery of a total of 33 Vestas V117 turbines to the project site off of the Japan Sea coast. The expected combined output of 139 MW will be enough to power 130,000 homes, putting the project well ahead of any other offshore wind farm in Japan. Yokohama-machi in neighboring Aomori The prefecture will soon be the host of a similar project, with nine V117 turbines and three of the less powerful V105 units on the delivery slate. But it is the massive Yurihonjo project (located just south of the Akita-Noshiro site) that is expected to dwarf all of the competition, with the installation of up to 90 turbines generating an output of more than 700 MW. And in the not-so-distant future is the rollout of a powerful new “supersized” turbine by MHI-Vestas. The next-gen turbine is said to be even more powerful than the V164/174, currently, the highest-capacity wind turbine ever made, and its deployment in the field is expected by the middle of this decade. It will be an uphill battle to make renewable energy in Japan a larger piece of the country’s power puzzle. Under current initiatives, the government expects to be able to source just 1.7% of its electricity from wind farms by 2030, and so any real impact must be linked to an equal or larger investment in hydro and solar and a much deeper look into the potential for harnessing geothermal energy sources in one of the most seismically active regions in the world. But clean energy proponents are hoping that the momentum generated by offshore wind projects will be the wind in Japan’s sails as the country charts a course for a new, non-nuclear energy future. As the world’s third-largest economy, Japan’s energy needs remain substantial. Nevertheless, the relative undersaturation of the market presents a clear long-term opportunity for private investors seeking to gain exposure not only to the growing capacity of domestic projects, but also to innovations across the cleantech, grid, and storage space. Building this exposure in Japan also enables foreign investors to potentially gain access to benefit from the lucrative links which Japanese corporate, financial, investment, government, and non-governmental bodies have cemented across the Asia-Pacific region. Keep checking back or follow us on LinkedIn, Facebook or Instagram to get notified about our latest posts. We’ll be adding more articles in the future relating to global expansion, energy, and relocation in Japan, so watch this space! Alternatively, get in touch to see how we can help you collaborate and do business in Japan.  

Whether it’s Steve Jobs stepping out of his garage or Mark Zuckerberg expanding beyond his Harvard dorm room, every successful company reaches a point where it’s too big for where it started. As you look to expand your business beyond your home country or territory, there are vital steps to take to ensure a relatively easy landing. Local laws and regulations have to be understood and evaluated. An innocent mistake – like, for example, hiring misclassified employees – could lead to costly legal action, fines and reputational damage, before your local team has even unpacked their suitcases. Before you enter a new country, make sure your team has familiarised itself with the basic entry – and exit – requirements of your target market. After you’ve completed your market assessment and weighed up your market entry options, you’ll need to start bringing in the necessary expertise. Who are those experts, and who needs a seat at your global expansion table? Cast your mind back to the earliest stages of your business, when you were first moving from an ambitious start-up (possibly even a one-person show) to growing concern. Your first new hire might have been ‘someone who could correctly advise you on the appropriate tax structures and on regulatory compliance.HERE'S WHY YOU NEED TO HIRE LOCAL EXPERTISE Global expansion would require the same expertise, but on a local country basis. This team would assist your own newly landed team with managing local tax regulations and providing bespoke accounting solutions. Legal advice would be a necessary extension of that, and another key early “hire”. From navigating local laws and employment laws (which might be very different from what you’re accustomed to in your home jurisdiction) to managing visas and work permits for staff who’re relocating to set up your new satellite office, trusted legal support is of course absolutely essential. Less obvious, but no less important, benefits of in-country legal support include conducting risk analysis and crisis management. Then, as the business establishes itself in its new territory, property – either renting or buying – would become the next problem to be solved. Recruitment, payroll, outsourcing… Global expansion support would also cover HR services, which can vary dramatically from country to country. Country-compliant HR processes would also have to be set up and implemented, as would the necessary cross-border banking solutions. Many companies make the mistake of entering a new market without hiring any local team members. Local people have unique, invaluable insights into local customs, cultural standards, and employee expectations, which can only come from having lived and worked in that particular market. The key driver behind global expansion is, of course, the potential to grow your company’s brand and profitability. It can also serve as protection against the risk of decline in your domestic markets. The trick lies in getting it right – and to do that, you’ll need to call on in-country expertise. The Centuro platform provided end-to-end assistance through the complexities of global expansion, activating the local business ecosystem to provide a clear roadmap of actionable solutions.

As COVID-19 swept the globe, many countries adopted a shelter-in-place approach, hoping to contain the pandemic through local, regional or national lockdowns. Borders have closed, and the idea of immigration – let alone an overseas vacation – has been shelved indefinitely. Or has it? Life and business go on, and while remote working remains the default for some organisations, others are unable to wait for ‘normal’ travel patterns to fully return before relocating groups or individual employees. Relocation and immigration, which are high-stress but low-risk activities under normal circumstances, take on an added layer of complexity during a pandemic. This places added pressure on employers, whose duty of care to employees extends to their health and safety when relocating for work purposes, forcing HR specialists to consider rapidly changing regulations on top of existing transborder legislation. Non compliance of the rules could inevitably have a serious impact on the company as well as the individual. For example, when it comes to speed of deployment, companies may be forced to initially send someone into a new country with a business visa rather than a work permit for the sake of expediency, without realising the implications that a pandemic has imposed on travellers such as mandatory quarantine and negative Covid tests before they are permitted to enter. In such circumstances it would be the employer’s responsibility to ensure their assignee is briefed in advance without having to deal with the stress of added border checks being introduced globally. Regulations around immigration requirements as well as eligibility are changing rapidly, with entry restrictions often announced without notice. Individuals cannot be expected to keep track of the changes; instead, businesses should work closely with their internal legal teams, or external suppliers and develop internal policies and introduce regular communications keeping all stakeholders up to date. As vaccine rollouts began in early 2021 there was widespread concern about ‘vaccine passports’, which would either facilitate entry or enable immigrants to skip quarantine protocols when arriving in a new country. Several governments (and even some airlines) now require digital travel passes to help passengers manage their travel plans. None of that will be new to frequent travellers, who for years have had to provide ‘yellow cards’ as proof of vaccination against diseases like yellow fever and cholera. However, the rules will vary depending on the immigrant’s destination or country of origin, on their potential exposure to specific strains of the COVID-19 virus, and on the exact vaccine they have received. Again, it’s essential that those bases are covered to ensure a smooth process and business continuity. Many national governments have demonstrated a level of leniency and flexibility when dealing with the pandemic, but as the world heads towards a new normal it has become critical for companies to review their internal practices and introduce new measures that tackle the requirements for the future of international assignments. Given the significant overhaul of the requirements for travel, it would be prudent to review insurance and medical policies and introduce contingency planning to tackle the unforeseeable, thereby equipping your employees with the information and support they need for safer assignments. In addition to the safety requirements, employers will also be dealing with remote working locations and tax liability for both the individual and business. The earlier a company prepares and considers all the moving parts of a future assignment and factors in the cost implications to the business for Covid testing, health insurance and emergency measures, the more rewarding the experience for the employee in question. In short, HR departments need to undertake more strategic decision making with the buy in from senior management to ensure their assignment programs can run smoothly in the future. It will be interesting to see how assignments will be structured going forward with more options for employees to choose their desired location for remote working anywhere in the world.