Questions of Branch registration
This company has been established with the aim of presenting chain of required services of capable companies to export. In this line, all services of this group are defined with the approach of reducing challenges and concerns of exporting companies to target markets.
At the beginning, required documents to register a branch or an agency in foreign countries are financial and registering documents of parent company in target country or in some countries, governmental contracts with target country. All documents must be translated officially and be confirmed by the governmental departments of the country of origin and destination. Please notice that a consultant for completion of documents is necessary.
Registering branch or agency is mostly aimed at managing and implementing intentions of parent company in the country of destination. Obviously, setting up an office and opening a bank account in a local bank in the name of a branch or agency is one of the most basic registration rights. It is mentioned that in the case of having governmental project, claims and status statements are possible to receive based on a local bank account.
Advantages and facilities of branch registration in the country of destination are with the aim of facilitating and accelerating in administrative and implementing affairs. The possibility of opening a bank account or an office are from the basic rights of agency registration. The most important feature of branch or agency registration is activating the background of parent company in the destination country and for technical-engineering companies, it is the possibility of participating in engineering tenders.
Registering a branch or an agency means to implement and advance the goals of parent company in the destination country. Registering an independent company is required for the possibility of commercial activities and commercial activities require special permits from the relevant ministries.
The director of office or branch is mostly designated with the aim of coordinating and implementing parent company`s goals in the country of destination. The area of the director`s authorities is taken directly by the parent company. The office manager can be either local or foreign and this is on the basis of parent company`s policies.
The benefits of branch or agency registration is mostly determined by the destination country`s policies of attracting investors. Branch and agency registration follows up the executive activities of parent company and this makes it easier for multinational and parent companies to be active in target countries.
One of the advantages of branch registration is to participate and present in international tenders of target country specifically some countries such as Iraq which recognizes the grades of technical-engineering companies in some countries and makes the grounds for them to participate in engineering and contract tenders.
Branch registration makes it possible that the parent company`s records and resumes be transferred based on organization policies. So you can have your records and resumes in target country by registering branch and accordingly, you can resort to participate in investing and engineering projects.
Yes. Affordability, initial capital and previous financial statements in the country of origin are from the effective factors of deciding and participating in this country`s projects. Specifically, gas and oil projects have their own sensitivities. It is also mentioned that it may be harder in case of losses in the country of origin during past years.