Expanding Operations into New Territories: Has the Recipe for Success Changed in a Post-Covid World?
|Wed. June 30, 2021
10:00 am - 11:00 am
This Transatlantic Program is brought to you by the EACC Florida | Expanding operations into new territories around the world has traditionally offered important commercial opportunities for both for multinational corporations and SMEs. Whereas the trend toward globalization was well underway, the COVID-19 pandemic marked an abrupt halt, leading to a global recession, a severe disruption of global trade and a sharp decrease in foreign direct investments.
Some countries are still managing the crisis. Others are slowly emerging from it with governments mostly focusing on supporting their domestic economies. Companies around the world however are looking at what commercial opportunities are available to them in other territories and considering how the sanitary crisis and its consequences is impacting plans to expand.
Looking at Europe and the United States, with a focus on financial transactions, accounting, taxation and human resources, the panel will discuss the push towards more responsible governance, how the tendency toward international alignment and cooperation between jurisdictions is being challenged by an increase in local, sometimes idiosyncratic, administrative and regulatory complexities and why these trends provide both challenges and opportunities for businesses considering expanding operations to other territories.
TOPICS FOR DISCUSSION
Trends toward more responsible Governance. When planning to expand, companies need to consider the following:
● A shift away from traditional offshoring impacting the choice of new locations;
● Increased protection of employees as businesses are encouraged to be responsible employers;
● An increase in mandated use of third parties;
● Compliance requirements as part of market entry strategy with stricter penalties for non-compliance being implemented especially in more complex jurisdictions;
● Personal consequences for non-compliance on directors.
Trends in international vs. local regulatory and administrative complexity. Issues include:
● Meeting global obligations with the trend toward standardization via regulations such as CRS, UBO and FATCA;
● Managing international reporting requirements vs. local ones such as the OECD’s Common Reporting Standard (CRS);
● Navigating the complexities of local/regional jurisdictions opening up to international business while simultaneously enacting rules potentially impacting investments such as the European Commission’s Proposal for Regulating Foreign Subsidies Control;
● Understanding the domination of local legislation in some business areas such as accounting and incorporations;
● Managing the international and local complexities of assembling a workforce.
● Juan Botín, Project Director, GRUPO SANTANDER (Madrid)
● Jan Willem van Drimmelen, Chief Commercial Officer & Head of North America, TMF GROUP (Amsterdam)
● Edoardo Gambaro, Partner, GREENBERG TRAURIG (Milano)
● Tyler Lavin, VP, Development and Investment – North America, CITIZENM HOTELS (New York/Miami)
● Mike Morroni, Head of Global Client Directors and North America Head of Business Development, TMF GROUP (Miami) [Moderator]
10:00 am EDT / 16:00 CET
EACCNY Members: Free
EACCNY non-Members: Free