When setting up a company in a new country, entrepreneurs face basic but fundamental challenges because of their inexperience and unfamiliarity with local Company and Tax law, legislation knowledge and local presence for regulatory purposes. At best these challenges can slow the business down, at worst they result in failures that have a serious negative impact on your success. Identification of a local representative for your company in a foreign country can be a challenging task especially in Nigeria.
At LICLESFO GROUP we ensure that the businesses we help establish are best placed to operate and grow smoothly. As part of our commitment to providing added value to clients, we offer a unique and customized Local Representative Service that helps them run their business.
With our local representative service, you’ll be free to concentrate on managing your core business priorities while we manage the day-to-day tasks.
Most of our clients take advantage of our local representatives until they’re ready to invest in opening a full office with local staff.
Certain legal structures require a formal ‘Secretary’ for the purposes of incorporation. By appointing one of our Local Representatives, businesses can satisfy these requirements without needing a local nominee director, and therefore keep full control of the business.
Your Local Representative can be authorized to deal directly with different government authorities. They can contact tax authorities to apply for a VAT number or social security number; deal with immigration authorities for visa applications and more.
Where required, representatives can also be granted authority to deal with the local Chamber of Commerce on behalf of your business. This makes it incredibly simple to arrange for transfer of shares, changes in directors and other organizational changes. So if traveling to the region isn’t convenient for you and where speed is of the essence meaning sending notarized documents by courier isn’t an option, a Local Representative will be your best bet.
As they’ll be visible in the extract of the Chamber of Commerce which is available for public review, having a Local Representative gives your business a real presence in the country. In instances where your customers or potential partners want to ensure that your business has legitimate local substance, they will be able to establish this from the extract.
Not to mention that being represented by a local who speaks the language and knows the intricacies of the business culture, your business can ensure that customers and partners legitimately view your business as a local one.
And if needed, your Local Representative can be presented as the face of your regional operations in local marketing campaigns
As your business grows, you’ll need to start thinking about expanding your team and possibly investing in real estate.
When looking for a new office, your Local Representative can take charge of finding and negotiating leases. In some instances it can be beneficial to have your representative actually sign the lease on your behalf as some landlords will be hesitant to lease to non-residents.
With their local knowledge and business experience, they’ll also be perfectly placed to take charge of creating and publicizing job posts for your business. That way you can get a head start on hiring the right talent when you’re ready.