While many large foreign companies have the resources to hire local lawyers, in-house experts and site selection consultants to help them navigate America’s complex legal and regulatory structure, many foreign small and midsized enterprises (SMEs) do not have access to the necessary support that allows them to easily set up operations in the United States. New Mexico wants to address this discrepancy.
Even more overwhelming to foreign SMEs is the geographical size of the country and the distinction between federal and state authorities. While these SMEs recognize that the United States is the world’s largest consumer market and that their presence in the country could be extremely lucrative, many of them give up on the idea of establishing American operations, daunted by the unknown.
New Mexico launched the ABQ-Copilot Program to provide foreign SMEs with vital information on how to set up operations in the state. Interested investors choose from an a la carte menu of topics they want addressed, such as U.S. business formation structures, executive transfer immigration options, international taxation, as well as logistics and supply chain issues.
These potential investors then get a customized, multiday agenda that includes free meetings with lawyers, brokers and any other experts who can address each of their specific concerns. They also get a free business matchmaking service to maximize their time in the state. Interested investors only need to shoulder travel and lodging costs.
While many foreign SMEs may not know where in the United States to locate, New Mexico is keen to show why it must be on top of their list.