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Why do large domestic corporations prefer to open trade missions in this country? The expert also shared his advice for Russian entrepreneurs on the balance of power in an international team and explained why it is important to comply with all existing Swiss rules, both in business and in ordinary life.
The company started its international expansion in the s; Evraz Swiss subsidiary East Metal AG plays an important role in trade operations on global markets.
East Metal AG was established in in Geneva. Later the company changed its location twice, moving to Lugano canton of Ticino first and then to Zug where it is still located. The company is responsible for international contracts of Evraz Group: East Metal AG supplies raw materials such as coal and iron ore and semi-finished products for processing companies in Southeast Asia, Europe and the US that then manufacture goods for end users.
Taiwan, Thailand, the Philippines, Indonesia and other markets. This geographical focus is explained by the fact the main exporting facilities of Evraz Group are located in Siberia, so it is easier to carry out the logistics towards the East rather than the West. When opening a subsidiary in Switzerland, Evraz Group was partially motivated by significant taxation benefits offered to business by the Swiss government.
In addition, Zug is an important trading hub: Such an environment resulted in a natural-born commodity-trading cluster. Traders often choose locations close to industry colleagues that have successfully established businesses in Switzerland, which in-turn results in a synergy effect for the whole industry.
In addition to attractive corporate tax rates, it is vital for trading companies to have access to financial resources. Currently East Metal AG employs 53 specialists of 13 different nationalities at the same time, Evraz Group has over 80, employees worldwide.
It does not matter what nationality the person is; professional skills and experience are far more important. Proximity to Swiss universities makes hiring even simpler. However, several employees are preparing to defend their doctoral theses at Swiss universities. Multinational character of the team makes the company regularly face immigration issues, for instance those having to do with job permits for non-EU and non-Swiss residents. Joseph Vasquez describes his experience of communicating with cantonal officials as exclusively positive.
These business-oriented, flexible and understanding professionals are always ready to help. From time to time, we have urgent projects that require prompt presence of Russian experts for two or three months. Migration authorities are always sympathetic of such requests and provide short-term visa services very quickly.
However, he rightly notes that his business has always strictly complied with regulations: For additional information on workforce questions in Switzerland, refer to our factsheet. According to Joseph, residence in Switzerland gives the company additional points: Clear rules and regulations are the basis of Swiss society, notes Joseph Vazquez.
All citizens with no exceptions have to follow these established norms. Of course, eagerness to follow all the processes through to the smallest detail sometimes makes the Swiss lose their flexibility. Justice is more important to them than circumstances. It turns out that in Switzerland, there is a rule according to which you must pay an additional special fee if you get on a train after midnight. Back then, this fee was 2.
Information about this is printed on a ticket, but we only started to learn German back then and did not pay attention. As a result, we had to pay a penalty fee of CHF. On the contrary, Swiss lifestyle has brought positive changes to his daily routine and leisure.
Since I moved here, I have started to exercise more than ever before. I am fond of cycling, I ride kilometres every week. Swiss roads are calm and quiet, and drivers treat cyclists with utmost respect. For cultural entertainment, Joseph often travels to Zurich or Lausanne. Within only 30 minutes by train, one can find excellent theatres, museums, opera, ballet, concert and exhibition halls. Business community in Zug is very well-developed and lives its life on its fullest.
East Metal AG is a member of Zug Commodity Association and often participates in various business events organized by the Association or cantonal authorities. In the nearest future, East Metal AG is going to focus on trading of goods with higher added value, says Joseph.
Currently the company is looking for market niches with high value within its existing supply chain. This will allow the company to achieve greater efficiency without increasing costs for extensive expansion. East Metals AG role is by and large to sell surplus products that remain after transactions on the Russian market. If the domestic market is strong, activity on the global markets has to be reduced — of course, by fulfilling current contracts.
If it is weakening as it is now , the company's goal is to grow as quickly and efficiently as possible over a short term in order to maintain turnover of the entire corporation. For additional information about various aspects of doing business in Switzerland, please refer to our Investor's Handbook or contact representatives of Swiss Business Hubs. Learn more about the business environment in Switzerland. The local labour market is full of talented professionals who can be assigned new tasks if necessary.
Nov 03, Taxes and credit resources When opening a subsidiary in Switzerland, Evraz Group was partially motivated by significant taxation benefits offered to business by the Swiss government. Balance principle Currently East Metal AG employs 53 specialists of 13 different nationalities at the same time, Evraz Group has over 80, employees worldwide. Opportunities for growth In the nearest future, East Metal AG is going to focus on trading of goods with higher added value, says Joseph.
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