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Tools to help establish 1st time cash management for franchise operation

Helping a franchise business that is starting to work overseas - trying to find some tools to help with bringing cash back to U.S. (understand taxes, etc.)

Answers

Ernie Humphrey CTP
Title: CEO & COO
Company: Treasury Careers
LinkedIn Profile
(CEO & COO, Treasury Careers) |

Mark,

The answer in part depends on which countries within which you/they will be receiving and sending funds and whether you/they are expanding your manufacturing facilities or expanding sales into new countries.

Banks often times have great (free) documents on the "ins and outs" of managing cash in given countries (including repatriation of funds) These documents also include the legal and political risk angles to managing cash in a given country.

AFP has nice country profiles for managing cash in many countries, but you must be a paying member to access them. I would start with your banks or those banks that are lining up to tell you how great they are at helping you manage cash across the globe.

I hope that helps. If not, perhaps a few follow up questions in this discussion string may help.

Best regards,

Ernie

Chris Hopkins
Title: Director, US Corporate FX
Company: Westen Union Business Solutions
(Director, US Corporate FX, Westen Union Business Solutions) |

There are other avenues in the marketplace to help you get started overseas without having to open and manage foreign bank accounts to simply repatriate funds. It can be costly and time consuming for a start up franchise. Ernie is correct about the complexities of different countries you are looking to enter. I have worked with Schwartz International on the tax management piece in the past. They are very knowledgeable. I hope this helps.

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