Mistake # 1. Failure to hire the right team of professionals (lawyers/CPAs/financial advisors/banking and financing professionals/cross-border tax advisors)
SMART PEOPLE use the talents and experience of other SMART PEOPLE to give themselves every possible chance of a successful outcome to the task at hand. Would you have a complicated medical or dental procedure done by a classical musician or a barista? OF COURSE NOT! That person might be the greatest violinist in the world, or might make the most delicious specialty coffee of all time, but you would never have them perform your heart bypass surgery. Why should it be any different in the international business world?
Most business leaders are not experts in the many social, governmental, economic and legal aspects of cross-border business transactions. Expertise in all of these areas is essential in identifying and developing new markets in foreign countries. Even the most experienced and sophisticated business leaders in the world regularly use cross-border consultants to provide crucial planning advice and development guidance.
When investing across borders, it is critical to work with a trusted advisory firm that is able to:
- Assess an organization’s future activities in foreign markets, such as opening a new facility or identifying a new business partner.
- Work closely with management and executive teams to develop strategic plans for both existing and emerging markets.
- Collaborate across disciplines within an organization, including accounting, legal, human resources, IT, market research, and other business-line leaders.
Complicated business issues such as choosing the most advantageous business structure, understanding home and abroad tax issues, and evaluating crucial legal and immigration business factors all require professional and experienced guidance. The right international business consultant can focus on the red tape, rules and regulations that are integral components of business success, and free you and your managers up to RUN YOUR BUSINESS and/or MANAGE YOUR CROSS-BORDER REAL ESTATE INVESTMENT PORTFOLIO!
Article Series by Lauren Cohen, Cross-Border Lawyer & Real Estate Expert
Investing Across Borders powered by e-Council Inc.’s website, newsletter and other forms of communication contain general information about legal matters. The information is not legal advice and should not be treated as such. You must not rely on the information on this website as an alternative to legal advice from your attorney or other professional legal services provider. If you have any specific questions about any legal matter, you should consult your attorney or other professional legal services provider.
Serial entrepreneur Lauren Cohen is an International Lawyer, Realtor and Cross-Border Expert. Lauren is also a best-selling author and sought-after speaker and is a globally-acclaimed legal and real estate business advisor. She serves as the Chair of the International investment Committee for eXp Commercial. Lauren’s passion for protecting the heart and soul of businesses shines through in all of her endeavors.
A graduate of York University and Osgoode Hall Law School in Toronto, Lauren is a dual citizen. She has been featured in Inc. Magazine, The Wall Street Journal, NPR, Working Mother, TV, hundreds of podcasts and radio shows and numerous other mediums. Lauren launched her own podcast, Investing Across Borders, in November 2020. After her then-husband's deportation on the return trip from her honeymoon, Lauren was devastated. She felt compelled to find solutions for herself and others, and strongly believed that she could make a difference, so she turned to the crazy world of immigration and international law.
Today, Lauren is recognized as an expert authority. Real estate investors and entrepreneurs hire her team to provide turnkey concierge services to protect their businesses and revenues so they can avoid costly challenges while expanding internationally. Lauren believes in going above and beyond borders to navigate a successful path for clients to invest, live, work and play anywhere!
As a lawyer and realtor, Lauren is particularly well-suited to guide investors in their investment pursuits across borders, applying e- Council Global’s harmonized one-stop-shop approach to all types of residential and commercial investments domestically and internationally.
