As part of our BYRONS APAC Capability, we explore the journey through a case study of a successful Chinese property investor seeking to expand their operations into Australia and New Zealand. Faced with initial challenges related to culture, a lack of local contacts and language, the client turned to the expertise of BYRONS for guidance and support. Through this partnership, the client’s expansion efforts were able to be realized and ultimately led to success.

 

Success in the Asian Markets

Our client, a prominent Chinese-based investor with a strong track record in the Asian market, strategically determined Australia and New Zealand as the destination for their next property investment opportunity. They planned to replicate their success in these new markets and further grow their business.

 

Challenged with a lack of local business contacts

Initially, the client encountered several obstacles as they ventured into Australia. The stumbling blocks were no local inroads into business and a lack of interested contacts willing to invest time in understanding the client’s business proposition. Additionally, establishing meaningful business relationships proved challenging. This left the client feeling directionless, uncertain about where to start, and how to progress.

 

The Role of BYRONS as a trusted advisor offering support

BYRONS played a pivotal role in bridging the gap between China and Australia by offering local expertise. The client was introduced to Tracy Chang, Associate Director at BYRONS, who brought a unique set of skills and experiences to the table.

 

Tracy, a bilingual professional fluent in both Chinese and English and originally from China, has over a decade of expertise in cross-border business investments. She places great emphasis on nurturing relationships and possesses a deep understanding of both Chinese and local Australian business cultures. Tracy’s ability to act as a liaison between these two different ways of doing business was instrumental in establishing trust and facilitating effective communication.

 

Building the foundation of strong relationships

Tracy and the client invested substantial time in getting to know each other on a personal and professional level. They discussed past successes, future goals, aspirations, and even personal family history. This foundation was crucial in building mutual confidence and alignment in values and work ethics—a standard Asian business practice when preparing for close collaboration. Even now, as a local Australian, Tracy continues to invest in building the foundation and depth of her business relationships.

 

The Step-Up Phase: Tailored Service

Now with a strong foundation relationship, Tracy initiated a phase of intensive collaboration to develop a tailored strategy for the client’s entry into the Australian and New Zealand markets. This involved a comprehensive review of their business approach, identification of potential obstacles, and recommendations for the most suitable business structure. Furthermore, Tracy considered their unique risk profile, tax implications, and compliance requirements in these new markets.

 

Over the course of a month, Tracy conducted in-depth meetings to ensure a thorough understanding of the client’s objectives and options. She provided insights into the local way of doing business in Australia, appreciated when the client found information challenging through her knowledge of Chinese operations and covered crucial legal requirements, such as those outlined by the Australian Taxation Office and local employment laws.

 

Overcoming Regulatory Hurdles

One of the client’s setbacks was obtaining approval from the Foreign Investment Review Board to commence their property investment acquisition in Australia. Tracy’s background understanding of the client’s business and objectives allowed her to fast-track connection with a trusted local lawyer who managed the application and secured the necessary approval. This achievement marked a significant milestone in the client’s path to success.

 

Operational Rollout and Ongoing Support

The next phase of the client’s journey in Australia, termed the “Operational Rollout,” involves BYRONS providing support in accounting, payroll, and tax compliance. Additionally, plans are in place to assist the client with Migration Services, enabling them to bring one of their experienced managers to Australia.

 

The Value of Effective Communication

Tracy Chang, Associate Director at BYRONS, “It is hugely beneficial to appreciate local Australian and Chinese ways of doing business. Aligning our culture and language means we can really communicate, with no pauses or the time required to think of the words or appropriate response to describe what we want to say. The focus can be on understanding the business, goals, and objectives. Our connection means we instantly built a more trusted relationship and confidence in sharing information to help support business growth. ”

 

Established Partnership

Today, BYRONS is an integral part of the client’s success story. The firm serves as their trusted advisor, offering dedicated support tailored to their specific needs.

BYRONS and this case study showcase the importance of local understanding, support, and effective communication in facilitating international business expansion. Connection to a local team of experts who offers cultural understanding and languages enables businesses to maximize opportunities and navigate the challenges associated with cross-border investment. If you’re considering your next cross-border business venture, don’t hesitate to contact us. BYRONS are here to support your journey to success.

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