Action Steps
The best contacts and resources to help you get it done
New in town? Or testing the waters?
Opening your first foreign office can be a big step and costly if you have to retreat. Several agents have sprung up to serve the temporary market or for companies seeking space.I recommend: Regus and Office General are good sources for short-term space on a global basis.
Go virtual
Do you need a full-blown office? If you are running a "street on the feet" sales operation, chances are a virtual office will do the trick until you grow.I recommend: Stratis can arrange computer connections, phones, receptionists, a mail drop and any number of short-term spaces for sales people on the move during the day. Business Meeting Places (both units of Regus) offers alternatives to a pricey hotel board rooms.
Hire local talent
Any major world financial or political capital will have an active office market, and a thriving commercial real-estate culture as well.I recommend: OfficeFinder connects you to local agents depending on geography. If you have time, build contacts first through the American Chambers of Commerce; no one will know local property better than in-country members. Join the chamber, too, of course.
Get a big gun
Most of the major U.S. commercial agents now operate foreign offices. If your needs are complex or require very specific locations (say, in the financial district), they'll have the resources and know-how.I recommend: Some of the largest include Jones Lang LaSalle, NAI Global, CB Richard Ellis, Colliers International, Cushman & Wakefield and Trammell Crow.
Tips & Tactics
Helpful advice for making the most of this Guide
- Lots of buildings in bustling foreign capitals are so new they don't have office spaces, just floors. Ask you agent about additional costs involved in building out — and if previously leased spaces are available.
- Location, location, location: In a foreign country, this mostly means putting your office as close as possible to where your executives live. No one wants a crazy commute, and big foreign cities tend to be very dense.
- Sublet if you can. Sometimes companies with varying fortunes need friendly renters to take up space for months or years.
- Get escape clauses in writing. If you have to close up shop quick — say there's a currency collapse — paying rent for years later will hurt a lot.
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