Whether you're expanding your business overseas or simply contracting with a foreign company, it's important to have a legal representative who understands the relevant laws and can help protect your interests. When looking for overseas counsel, what should you keep in mind? Here are some tips:
Make sure the lawyer has experience with the country or region in which you will be doing business.
The law firm you will be hiring should be able to understand the local customs and regulations, as well as the language. In Thailand, the only official language is Thai.
Therefore, it's essential that you hire a qualified local legal counsel for your business who is both fluent in your native language or at least the international language that is English as well as the language being used in the country you are considering forming a business in.
These attorneys should be able to guide you through the regulations and procedures in the country. They should help you deal with government agencies and ensure that you comply with all applicable laws and regulations.
Make sure they are licensed to practice law in that country.
You should also make sure your attorney is licensed to practice law in the region you are operating in. This is important because if the lawyer isn't licensed, they may not be able to represent you in court.
They also may not have access to a local legal network of professionals which is necessary for any business owner who is working with overseas counsel. Check their qualifications and determine whether or not they have experience with your industry, especially when you are looking for a BOI certificate Thailand law firm.
Don't be afraid to ask for references from past clients. You can ask about not only their qualifications but also their experience with the lawyer's firm and how easy it was to work with them.
Ask about their fees and payment terms upfront, so there are no surprises later on.
While there are many benefits of hiring an overseas general counsel, you should consider the cost and quality of their services. The price should be reasonable. Overseas counsels are expensive, but their fees are well worth the value.
You should always hire a law firm that offers the best legal services. Ask about the method of payment and payment agreement upfront, so you aren't surprised later. You should also discuss with them what part of their fees will be reimbursable by the company's legal budget.
Find out what kind of support they will be able to offer you.
You should also find out what kind of support the lawyer will be able to offer you, and what their responsibilities are. For example, they might draft your business plan and financial projections for new markets. They may write a complete contract that is specific to your country or region.
If you need support with back-office functions such as bookkeeping, logistics, or third-party supplier relationships, you should make sure that the attorney can help with these important tasks.
Before hiring an overseas attorney, it's important to understand the differences between the country you will be setting up your business in and your country of residence. If you're based in the U.S., you're accustomed to a certain legal system and deal flow.
When establishing an office in another country, however, you will be faced with a different regulatory environment, business cultural norms, and time zone differences. Overseas attorneys are able to adapt to these differences by providing you with a unique set of services.