The first question that many people might ask after hearing about your plan to start a business overseas is, “Which country have you chosen?” This is because the legality of international company activities in various nations, as well as the legalization of certain sectors, might have an influence on your plans to make money abroad. Among the transfers of resources, acquisition of capital, and delivery of business ideas, there is one highly important aspect. It pertains to the processing of some of the most important corporate documents that allow a foreign business entity to operate in a country.
For instance, if you wish to take your US-based fish processing business across the seas to another country with a different government, rules, and legalizations, there are certain documents that you’ll need to take care of. More detailed information can be found here.
Board Resolution
As most business leaders suggest, due diligence is better than taking preemptive decisions. Be mindful and thoroughly attentive to the types of documents necessary to keep your business breathing overseas. Resolution of the Board is a statement’s copy that you have to provide to your Trustee. It’s a certificated signed by the immediate and effective Deputy Secretary or Secretary that the company’s Board of Directors chooses.
Article of Association
People confuse an Article of Association (AOA) and Memorandum of Association (MOA) the same way they get confused between Apostille certificate and Authentication certificate. The Article of Association document is highly critical for the process of incorporating your business across foreign borders. In a nutshell, the AOA comprises the responsibilities and regulations of the professionals within a company. In addition, the document encompasses regulations based upon which the execution of the shareholder-decided actions will take place for the company. While the document appears hard to understand, it’s quite simple and straightforward.
Keep in mind that this document can be hundreds of pages depending on the complexity of the business’s ownership, leadership, and operations. Specific government departments are responsible for helping a business group get their AOA apostilled.
Incorporation Letter
Apostille or attestation of your incorporation is extremely necessary when you wish to begin your business in another country. Your business’s state government issues this document showing that your company is legal, trained in that state, and more. It’s a certified document that states the existence of your business. You will require a travel agency’s help to Apostille and attest this important corporate document to begin operations overseas.
Memorandum of Association
The Memorandum of Association document is one of the first ones that form during the formation of a company. In simple words, this document forms under the leadership and coordination of shareholders. The document contains basic information of the company along with its power to show public information. The Memorandum of Association document is also vital to satisfy the foreign authorities as it indicates the authenticity of the company. This document passes down from the Chamber of Commerce to the Ministry of Foreign Affairs. Every country has a unique procedure for verifying and authenticating the MOA.
