Perhaps as a result of the U.S. economy, the weak dollar and the rapid spread of technology, many U.S. small and medium sized companies are looking to expand overseas, particularly in the European Union. Whether this means starting a new business or opening a branch or subsidiary, your clients need to understand the specific steps involved – and the important role of foreign language translations.
Even though Europe promotes using a one-stop shop system for establishing businesses, depending on the country your client chooses, bureaucracy can be burdensome, to say the least. However, one-stop shops do offer the advantage of being able to coordinate all the different contacts one needs to manage, along with taking care of such mandatory formalities as registering the business in the official registrar.
When going to the one-stop shop service, be sure to have a foreign language translation of all documents. For example, if you are opening a branch, you must submit a foreign language translation of the Articles of Incorporation and the minutes of the most recent shareholders’ meeting. Further, it is beneficial to bring a foreign language interpreter with you.