Expatriates looking to work abroad in a self-employed capacity should ensure they research the business laws and regulations of their new country, an expat lifestyle magazine has said.
Co-founder of Shelter Offshore Rhiannon Davies said expatriates considering a move could only be successful if they are prepared for the reality.
"People have to look into the rules and regulations associated with establishing a company overseas, or with becoming self-employed abroad," she noted.
"If you’re going to be working as a practitioner or expert in a given business sector for example, it may be that you have to have a certain level of qualification to be allowed to practice. You have to look into the ‘translation’ of your qualifications."
Knowing the size and makeup of a desired client base also helps, Ms Davies suggested, as does looking into whether banks in the local area will lend to newly established businesses.
Her advice comes after research by Foreign Direct Currency found that a quarter of the UK’s self-employed workforce is considering making the move overseas to enjoy lighter taxation and stronger currency.
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