Illicit Affairs?If you do business overseas, be certain your "administrative fees" aren't really illegal bribes.
Opinions expressed by Entrepreneur contributors are their own.
Suppose you've decided to move part of your businessoverseas. You want to open a manufacturing plant in Southeast Asia,but you need a permit from the local government. A government agentthere offers to get you the permit within a week-and, by the way,his commission will be $1,000.
Watch your step. In many countries, kickbacks and bribes havelong been an expected cost of doing business. But the ForeignCorrupt Practice Act (FCPA), enacted by Congress in 1977, prohibitsbribery of officials in other countries. It's illegal to makepayments, promises or offers of anything of value to foreignofficials to obtain or retain business, or to get an improperadvantage. It's also illegal to make such payments to a thirdparty (say, a government official's brother), knowing he'sjust an intermediary.
4th of July Sale - Save 20%! Unlock this premium article & so much more with狗万官方+
Join the internet’s leading entrepreneur community! With your subscription you’ll get:
- Unlimited access, including premium content
- No ads
- Subscription to狗万官方magazine
- Four free e-books a year
- Subscriber-only events with our experts