A transatlantic law firm like Rooney Nimmo can help your business succeed, whether you already have international branches, or you are preparing to open your first office in the US or the UK.
A law firm with transatlantic experience will be familiar with each country’s specific regulations to better advise you on critical decisions. Keep reading to find out why your business may benefit from transatlantic legal services.
Benefits of Transatlantic Law Practices
All businesses require legal advice, whether to check that a new agreement is legally sound or for protection when considering firing an employee. For companies who work with multinational clients or who have branches in several countries, a lawyer who understands transatlantic law is essential.
Partnering with a transatlantic law firm like Rooney Nimmo gives you access to our on-the-ground experience in the US and UK and a greater understanding of the nuances in the law. This allows us to better advise our clients and make your transaction go as smoothly as possible.
In these times of economic uncertainty, our team can also help you determine which government grants and loans you are eligible for and ensure you submit any necessary documentation on time.
Below we dive into five specific benefits of working with a transatlantic law practice.
Benefit 1: Tax Regulations
Keeping up-to-date with your original country’s tax regulations is challenging, especially for small to medium-sized businesses. Adding in another country makes it even more difficult. Additionally, the US and the UK have different tax years, meaning you’ll need to spend more of the year focused on the IRS and HMRC requirements.
Taking the time to handle your international tax and legal obligations yourself, often limits the time you can spend concentrating on your company. By working with a transatlantic law firm like Rooney Nimmo, you can turn your focus to growing your company, improving your products, or networking with others in your industry.
Benefit 2: Brexit, GDPR, and Data Privacy
For those with a UK-based branch, Brexit could affect your business in the coming year. As an experienced transatlantic law firm, Rooney Nimmo can quickly inform you of any changes to the US-UK trade deal or trade deals with the EU. We may also hear of proposed changes before the general public, helping you make informed decisions for future business deals or expansion plans.
Another complication resulting from Brexit involves GDPR and data privacy. With regards to data protection, the US’ rules differ from Europe’s. With Brexit, they’ll likely become even more complicated with the UK looking to establish its own rules with respect to data privacy. It’s important to remember that GDPR rules apply to non-EU companies who hold information on EU residents in their databases and would be subject to fines for violations.
Benefit 3: Employment Law
Additionally, although there are many similarities, employment law differs between the UK and the US. While the process of hiring and firing may be less complicated here in the US, it can still be overwhelming for US-inbound companies. We’ll help you better understand the process, so you can focus on strengthening your business.
Benefit 4: Immigration Assistance
A transatlantic law firm, such as Rooney Nimmo, is also a boon for immigration affairs. Company founders or senior executives looking to move to the US–to set up their US offices, for example–may need help with visa selection, documentation, and submission. We’re able to assist with the work visa process and make recommendations on other advisors to help with the US-inbound transition, such as accountants, bankers, and commercial real estate brokers.
Benefit 5: Cross-Border M&A
Finally, we can help US-inbound businesses navigate cross-border transactions. Cross-border M&A is often complicated, so a transatlantic law firm will help companies better understand how to complete transactions, integrate teams (contracts, stock options, etc.), and establish employment contracts.
Choose Rooney Nimmo For Your Transatlantic Legal Needs
With offices in New York, Edinburgh, London, and San Francisco, Rooney Nimmo is the ideal choice for companies with ties to both the US and the UK.
Whether you are expanding, already have several locations in both the US and the UK, or if you are seeking advice regarding how the change in administration in the US and new Brexit regulations will affect your business, contact us today to arrange an initial consultation.