{"id":14287,"date":"2023-09-18T18:36:19","date_gmt":"2023-09-18T18:36:19","guid":{"rendered":"https:\/\/mysourcefunding.com\/startups\/7-tips-for-moving-your-business-abroad\/"},"modified":"2023-09-18T18:36:20","modified_gmt":"2023-09-18T18:36:20","slug":"7-tips-for-moving-your-business-abroad","status":"publish","type":"post","link":"https:\/\/mysourcefunding.com\/?p=14287","title":{"rendered":"7 Tips For Moving Your Business Abroad"},"content":{"rendered":"
\n

By Su Guillory<\/em><\/strong><\/p>\n

For those of us fortunate enough to be able to move abroad, the question arises: what do we do with our businesses? Obviously, you can\u2019t relocate a physical business like a hair salon or bakery quite as easily as you can a digital business, so if your business is portable, like my spiritual coaching business is, consider yourself lucky.<\/p>\n

Still, you\u2019ll need to make some accommodations if you and your digital business are both moving overseas. Here are some considerations for anyone looking to run their business from a new country.<\/p>\n

Tips for moving your online business abroad<\/strong><\/h2>\n

1. Reset your work hours<\/strong><\/h3>\n

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Given that you likely will be in a different time zone than you were operating in when you lived in your home country, the times you\u2019re available to work may need to shift.<\/p>\n

I live in Italy, so I am six hours ahead of Eastern time and nine ahead of Pacific time. This means if I need to take calls or have meetings, I may need to work later in the evening. Still, I like the peace and quiet of the morning for getting work done that requires concentration (like writing this article), so I\u2019ll often put in a few hours early and then enjoy my midday before returning to my desk in the late afternoon.<\/p>\n

2. Shift client expectations<\/strong><\/h3>\n

Trust me, everyone will be thrilled for you when you tell them you\u2019re moving abroad. However, understandably, some clients may have concerns about whether you\u2019ll be able to continue to deliver your usual results.<\/p>\n

It\u2019s worth the time and energy to have a conversation with each and every client (if you offer one-on-one services) to reassure them that nothing will change except your address. You may need to move some things around, like meeting times, but essentially, you should be able to give the same output in your new home.<\/p>\n

3. Gather your familiar tools<\/strong><\/h3>\n

The wonderful thing about living in this era of technology is that you can take your tech with you. The apps, software, and websites that help you get your work done can be used wherever you go (unless there are strict internet controls in place\u2014some countries, like China, may be an exception).<\/p>\n

I still use tools like Asana, Zoom, and Google Docs to run business as usual. In a strange way, it helps me feel connected to the American business culture, even in the middle of rural Italy.<\/p>\n

Oh, and here\u2019s a tool suggestion: Get the Google Translate plugin so that when you visit a website in the language where you now live, you can quickly translate the site (90% of the time).<\/p>\n

Another tip: For any software subscriptions you pay for, see if there\u2019s a site for the software that’s specific to where you now live, and compare the cost in local currency. Sometimes it\u2019s cheaper than what you were paying in dollars.<\/p>\n

4. Take time to settle in<\/strong><\/h3>\n

I can\u2019t stress this tip enough. It took far longer than I expected to really settle into my life in the south of Italy. This was not only from a logistical point of view (it took a solid three weeks to get the internet set up) but also from an emotional perspective. I felt like a tourist when I arrived, and much preferred to swim in the Ionian Sea than sit at a desk and create content for clients.<\/p>\n

Tell your clients you\u2019re taking a month to settle in. That way, if you\u2019re ready to get to work sooner, you delight them. Otherwise, take time to adjust to new work hours and the emotional strain that being in another country and culture brings<\/u>.<\/p>\n

More articles from <\/strong>AllBusiness.com<\/strong>:<\/strong><\/p>\n

5. Understand what your tax situation is<\/strong><\/h3>\n

Each country has a different set of rules and regulations for expats filing taxes, but for me, it was a struggle to find an Italian accountant who understood the intricacies of a freelance, self-employed American who lived in Italy but had clients in the U.S. One even told me it would be easier for me to marry an Italian than to deal with the complications!<\/p>\n

Though you might not need to file taxes in the year you arrive, do your homework to understand what the process is. If possible, find an accountant or tax professional who speaks English and who has worked with foreigners in similar work situations.<\/p>\n

Some countries, like Italy, have a tax agreement with the U.S. that allows you to discount what you pay in one country when you file taxes in the other. And yes, you have to file taxes both in the country you now live in and the U.S.<\/p>\n

6. Keep your American bank account<\/strong><\/h3>\n

While you\u2019ll likely want to open a local bank account, I recommend keeping your American account if you still have American expenses (kid in college, student loans, American credit cards). This makes it easy for clients to continue paying their invoices as they always have.<\/p>\n

However, you may want to divert some of your revenues into your local account. Depending on how they pay invoices, you may be able to give your client your international account number (here in Europe that\u2019s the IBAN) and they can pay you directly. They can also pay using Bill.com or PayPal, but be aware that these sites usually take a pretty big chunk of your profits. You can also get paid in dollars and then convert it into your new local currency using Wise or another online currency converter.<\/p>\n

7. Allow things to take shape as they are meant to<\/strong><\/h3>\n

On top of the technical and logistical tips I\u2019ve provided here, I will add one more recommendation: let things flow. Your business will shift as a result of you moving abroad. YOU will shift. Allow the changes and see what evolves.<\/p>\n

About the Author<\/strong><\/p>\n

Su Guillory<\/em> is an expat coach and business content creator. She helps women through the transformative process of moving abroad so they can live happy, more authentic lives. Su has been published on AllBusiness, Forbes, SoFi, Lantern, Nav, and more.<\/em><\/p>\n

RELATED: <\/strong>Want to Be a Digital Nomad in Italy? Here’s What You Need to Know<\/strong><\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

By Su Guillory For those of us fortunate enough to be able to move abroad, the question arises: what do we do with our businesses? Obviously, you can\u2019t relocate a physical business like a hair salon or bakery quite as easily as you can a digital business, so if your business is portable, like my […]<\/p>\n","protected":false},"author":1,"featured_media":14288,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[77],"tags":[],"class_list":{"0":"post-14287","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-startups"},"yoast_head":"\n7 Tips For Moving Your Business Abroad | Brandiary<\/title>\n<meta name=\"description\" content=\"By Su Guillory For those of us fortunate enough to be able to move abroad, the question arises: what do we do with our businesses? 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