The world is very different to just 50 years ago, which is the blink of an eye for the cosmos and we are in the middle of the Digital Revolution that brings a new dimension of web connectivity. At the same time, China is leading the way in many tech sectors and for the first time in recorded history, a Chinese CEO can have a conversation with a European MD via a Zoom call!
Closed market
It has traditionally been quite a challenge to establish a business presence in the People’s Republic of China, yet since the turn of the century, China has opened her doors to western commerce, with Hong Kong playing a pivotal role. There was a time when a foreign company had to be invited before it would be considered to open a business on mainland China, we have come a long way in a short time.
Foreign business registration
Not so today; there are many foreign companies registered in China and the number is growing exponentially; if you would like to learn more about doing business in China, consult with a top international law firm with offices in Beijing. They handle business registration, sales tax compliance and many other aspects of managing a business in China, plus they can connect you with local partners and any services you might need.
Thailand, Vietnam and Laos
These countries provide a huge manufacturing potential and western companies can deal directly with textile manufacturers; there are law firms that assist foreign investors when they wish to enter Asian markets and they have offices in just about every country in Southeast Asia. Thailand is a very popular country for expats to set up a business and reside in the Kingdom, while Singapore has its benefits for foreign investors. Click here to learn about some hidden costs of a business startup.
Global Commerce is Growing Internet Connectivity
Elon Musk has put up more than 1,200 low-orbit 5G satellites and eventually, every square metre of the planet will bathe in Broadband Internet. A UK entrepreneur can arrange for an online translator to join in a Zoom call, such is the current tech, with bank-grade cyber-security and crystal-clear reception with zero lag. The middleman is no longer part of the chain and this is good news for the brave businessperson who wants to get a foot into the Chinese market. Direct contact is the best way to reach Chinese businesspeople and with a local law firm in your corner, you can source a wide range of business services at local rates, which are very cheap when compared to the West.
If you run a business and you are thinking of doing some research into Asian markets, register as a Representative Office and you can start your Chinese journey. If the research shows promise you can set up a limited company and begin trading, with or without a local partner.
