“International expansion can help you diversify and find new opportunities in fast-growing markets”
The Indian market for almost everything is enormous, but it is not big enough for many entrepreneurs. For these business owners with a growth mindset, the rest of the world is their oyster. Looking for international growth by going global as an importer-exporter offers many opportunities. .
The primary reason to be global, of course, is to improve its potential for expansion and growth. Moreover, there are too many international opportunities for businesses to catalogue them all here, or even in a much longer race than this one. The apparent opportunities are the markets in Europe and the USA. However, those only scratch the surface. There are many other fast-growing, and less competitive markets are available across the globe.
Just rotate the globe, and you can find the opportunity to sell something somewhere. Unearthing the right opportunity for you involves more business, of course.
What are the legal requirements to Expand Your Business Internationally?
If you wish to establish business internationally, whether it is a new business idea or company or as a subsidiary based, there are many essential formalities and considerations. These will include or may include:
- The first and most important is to find a legal advisor or the right accountant from destination country to obtain legal permits and trade licenses.
- The need to establish a bank account in the destination country
- Employing staff
- Understand the regulatory and fiscal system
- Search or negotiate strategic relationships with individuals or companies based locally, either through joint ventures, distribution agreements or agency
- Market research on competitors or in-depth knowledge and analysis of the industry
- Borrowing money and guaranteeing your financial projections and your business plan maximise your chances of obtaining successful financing
How attestation of commercial documents ease the process of expanding business Internationally?
For every business transaction or opening a new branch or starting a new business abroad, the applicant must present commercial documents such as the export invoice, the certificate of origin, the packing list, the power of attorney, etc. Therefore, in all these cases, these documents must be certified by a commercial document attestation service provider. The primary objective of document certification is to ensure that all these documents are genuine and are issued by a valid institute/ board/entity or authority.
The attestation/apostille process may differ depending on the type of document attestation service you wish to use. Certification services can be of various types, such as; Embassy Certification,Chamber of Commerce/State Department of Origin, Certification of the State, Certification of Diplomatic Mission, etc.
Consequently, the required documents must be certified by the designated authorities using a universally accepted stamp and seal with signature. For example; In the case of commercial document certification, it must be previously authenticated by the respective Chambers of Commerce before obtaining these documents certified by the Ministry of Foreign Affairs.
Commercial documents attestation
Memorandum of Association
A Memorandum of Association (MOA) is a fundamental legal document forged during the process of forming and registering a company to define its relationship with shareholders. It houses the letter of the company that defines and limits the powers of a company for public information.
The MOA details the name of the company, the physical address of the registered office, the names of the shareholders and the distribution of shares. The MOA literally serves as the constitution of the company.
The Memorandum of Association (MOA) attestation is mandatory to execute and accelerate your business. Certification is a vital procedure that must be followed to prove and establish authenticity. The MOA statement starts from the Chamber of Commerce followed by the Ministry of Foreign Affairs later by the destination country’s Embassy. Each applicant will have to face this strict and strident procedure to finally receive the Certification of their MOA Certificate. In addition, each country follows a discrete and distinct procedure for the certification of MOA. Once the certification procedure is completed, the authenticity of your documents is established.
Articles of Association
The memorandum and articles of associations are often mistakenly considered as the same document.
The Memorandum of Association is a legal declaration signed by all the initial shareholders who agreed to form the company. The memorandum generally consists of a single sentence that states that each subscriber of the memorandum wishes to form a company decides to become a member of that company and take some shares. The shareholders are listed below.
The Articles of the Association describe the delegation of roles and responsibilities within the company and the rules on how the company will be executed as agreed by the shareholders, the directors and the company secretary. Depending on the complexity of the company, this document can consist of several pages to hundreds of pages.
To legalise Article of Association from the embassy generally, the Embassy will insist that both documents be individually apostilled by the MEA and other govt departments.
Incorporation letter
If you plan to conduct business in another country, you must obtain an attestation of your incorporation letter. An Incorporation letter is a certified document issued by the state govt that shows that your company exists and has been trained in that State. You will need a copy of this document in to process it for further attestation or apostille. The govt will not accept black and white copies unless they are sent in digital format.
Board Resolution
Resolution of the Board means a copy of a statement certified by the Secretary or a Deputy Secretary of the Company that has been duly adopted by the Board of Directors and that is in full force and effect on the date of said certification and delivered to the Trustee. When any provision of this agreement relates to measures taken to the Board of Resolution (including the establishment of any series of Securities and the forms and terms thereof), such action may be made by any committee of the Board of Directors of the authorised Company. To take such action by a Resolution of the Board, provided that a copy of the resolution of the committee and the resolution of the Board authorising the committee to take such action is provided.
Therefore, It is very important to authenticate the document of the Board of Resolution from concerning authorities when one wishes to expand the business internationally.
Whenever a commercial document attestation is needed, it is always a challenge for people, But to ease all the pain to find the right attestation service provider. PEC is a reliable organization for the legalization of commercial documents. We understand the concerns of customers about the attestation of commercial documents. In addition, we are a recognized attestation service provider in India and we also offer door to door delivery services. Take advantage of the best services in its class for your legalization needs, plus you can find all the details regarding the certification of your legal document here.
posted on 4 Aug, 2018. Posted In attestation.