We’ve helped numerous South African companies navigate the Dutch market. Here are some crucial points to remember:
- Cultural and trading differences: Recognise you’re entering a new market with distinct business practices.
- Currency fluctuations: Be prepared for the significant impact of the EUR to ZAR exchange rate.
- Employment costs: Factor in higher benefits, vacation days, social security, and minimum wage.
- Transfer pricing: Understand and manage transfer pricing implications for intergroup trading.
- Administrative reliance on post: Invest in a good printer/scanner and get comfortable with postal communication.
- Bank account challenges: Opening a corporate bank account can be challenging; prepare for potential rejections.
- Business structure matters: Keep your structure simple, especially initially. Complex structures raise compliance complexities.
While challenges exist, the rewards are significant: new partnerships, wealth creation, innovation, and positive social impact.
Zuydam Konsult is your trusted partner for a smooth and successful cross-border expansion. Contact Annemieke Keizer-Gregory: annemieke@zuydam.co.za
