RfM Accountants has partnered with pan-Asia professional services firm, Dezan Shira & Associates, to further strengthen the support we can give to clients trading in new global markets.
There’s never been a better time for British and Irish businesses to expand into Asian markets. That’s according to RfM’s new international partner in East Asia, Dezan Shira & Associates. And, as an organisation that specialises in supporting businesses to navigate and trade successfully in new and unfamiliar territory, they should know.
Asian countries offer enormous business opportunities to British and Irish investors. Indeed, a respected UK financial services firm has stated that China will become the world’s largest economy by 2030, with India in the second spot.
The continuing uncertainty around Brexit and how UK businesses will trade in Europe has also led many businesses to consider entering new markets, further afield.
If expansion into international markets is part of your business plan, where should you start? How do you avoid being tripped up by your lack of understanding of the culture and rules? Who can you trust to give you the best advice?
Your international local business guide
Just as a traveller might ask a local guide to show them around an unfamiliar city, businesses can engage an advisor with expert local knowledge to help make their international investment journey a success.
Dezan Shira & Associates (DSA) is a specialist practice that provides a wide range of strategic, tax, legal and accounting services to companies entering, establishing and expanding their operations across East Asia.
In essence, they will hold their clients’ hands through the entire process of Asian familiarisation, business planning, and corporate establishment. Once these foundations are laid, they can also provide administration, financial, HR, payroll, and IT services.
Essential knowledge of local markets
DSA already has strong links with the UK and Ireland having assisted over 300 UK and Ireland-based business in China alone. In May 2019, the organisation announced the launch of a dedicated UK and Ireland Desk, led by Head of Development, Maria Kotova.
“The large-consuming population, fast-developing economies, availability of diversified resources, improving infrastructure and growing digital landscape, among many other factors, make China, India, and ASEAN strategically important partners for UK and Ireland businesses,” explains Maria.
“With such a huge range of opportunities – from basic to high-tech industries – it is hard to ignore the region’s potential.”
The UK and Ireland Desk team comprises a number of British professionals who have lived and worked in Asia for several years, gathering essential and practical knowledge of local markets. They work closely with clients to ensure that any cultural and language barriers are taken care of right from the very beginning.
The Desk will also be assisted by partner and alliance firms whose role is to provide overall support in the clients’ home countries. RfM Accountants has entered into a cooperation agreement with Dezan Shira & Associates to support the UK & Ireland Desk.
“I am delighted to enter into the cooperation agreement with Dezan Shira & Associates,” said RfM Partner Paul Newsham. “It allows us to expand our client offering to include access to expert international advice and is in keeping with our firm’s philosophy of ‘+ more’.
“DSA have offices across East Asia as well as liaison offices in Germany, Spain, Russia and the United States and we can help our clients access support from any of these offices. Similarly, if an international client is expanding into the UK, we can provide them with the local expertise they need to get set up and running.
“We look forward to working with our colleagues at DSA who have a similar approach to client service as ourselves.”
International opportunities for SMEs and subsidiaries
The clients DSA works with are, typically, small and medium-sized companies and subsidiaries of listed companies. These include world-renowned conglomerates and well-known brands, as well as comparatively small privately-owned businesses with innovative products and services. Their sector expertise includes manufacturing, F&B, retail and wholesale of consumer goods, chemicals, equipment and components, automotive, medical devices, agricultural products, construction, e-commerce, and high-tech.
Through our relationship with DSA, RfM clients will have access to a wide range of specialist services tailored to their specific international market, including:
- Cross Country Comparisons and Market Entry Strategy
- Entity Incorporation and Structuring
- Due Diligence
- Taxation and Transfer Pricing
- Accounting and Bookkeeping
- HR and Payroll
To arrange a meeting to discuss your plans for expansion into Asia or other global markets, please contact Paul Newsham on 01772 431233 or email email@example.com