5 things to consider when selecting a corporate service provider
Running a business with professional and reliable cooperation partner in the foreign country is easier and more successful. How to find a suitable corporate service provider? Below you can find 5 points, which you could consider when making a decision.
1. Does corporate service provider have a professional team?
You can find numerous service providers on the internet with nice website including various promises. However, is there a real team with necessary knowledge and skills behind these promises? Get a thorough overview of the company’s team, read additional information on the experience of the employees and in case of doubt, conduct background control with the help of internet search or LinkedIn. If you find no contact person on the website, it is not reasonable to give information to the unknown persons or order services from there.
2. Is the company local?
Control whether this is a local company or big corporation having just 1-2 representatives in the local country. Make sure that the company has a local address, phone number and employees have work experience in the local country. Only the local corporate service provider has a detailed knowledge of the laws and customs of the local country and is actually on site for prompt management of documentation and, if needed, attending the meetings. In general, the plus of the local company is also a better price and quality ratio, as compared to, for example, with the franchise companies the price is not including commission fees.
3. Does a corporate service provider have a licence for activities?
A corporate service provider in Estonia should have a licence issued by the state. If the company has no activity licence, it is not allowed to provide services of business registration and there is a risk that this service provider has inadequate knowledge and skills.
4. Can you compare the final sums of price offers with each other?
Our experience has indicated that different service providers structure their price offers very differently. This means that by comparing several price offers with each other no final amounts need to be considered, but one should delve into the content of offer. The lower price often means that some things (for example state fee, annual report etc.) should be extra paid for.
5. Are you going to get all necessary services?
Think about your business needs and control whether the potential partner provides all services required. Professional corporate service provider provides, for example, virtual office, nominal director, bank account opening, accounting, business and tax advisory services as well as assistance in applying for residence permits. The more comprehensive knowledge team members of the cooperation partner have the easier and faster is for you to run a business.
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