“China today is, of course, a key global growth center, but it’s still not one entered easily,” said Larry Harding, President of High Street Partners, “Despite the attractiveness of the drivers - the huge market and China’s thirst for development - it can be difficult to enter China without stumbling. US companies need specific operational help at headquarters and assistance on the ground in Asia.”

The firm offers both. HSP provides initial set-up services, including proper entity registration and help navigating unfamiliar banking procedures. It then advises the HQ office on critical matters such as expat vs local hires, provides help with employment contracts, and manages ongoing payroll, accounting and tax filing projects. Typically, the firm encourages its US clients to set up a Hong Kong subsidiary, with requisite bank accounts and employment contracts, then helps them establish rep offices on the China mainland. High Street Partners manages a network of local service providers in overseas locations, giving clients a local presence and the advantage of market pricing. Half of High Street Partners’ current clients have operations in China.

“High Street Partners helped us smoothly establish a presence in Asia. In short order they coordinated three payrolls and now take care of the reporting and compliance requirements for a dozen employees not only in Shenzhen, but in Hong Kong and Taiwan as well. They have been the right partner for our HQ finance team and they’ve helped us get off on the right foot overseas by coordinating with high quality and reasonably priced local service providers in Asia,” said Paul Chesterman, CFO of iWatt, a power control integrated circuit (IC) company in Los Gatos, CA.

“The potential for US companies in China is immense, but different organizational and compliance requirements, longer administrative time lines and unique taxation, employment and banking structures can present significant challenges for the companies setting up shop there,” Harding said. “This new service can help.”

HSP Access China is available now. Like the firm’s other services, HSP Access China ensures that the client’s headquarters finance team works with an experienced single point of contact who not only shares their perspective, but who can also work closely with their legal, accounting, banking and other advisors. After an initial setup fee, HSP Access China is available for as little as US$1,000 per month for a branch or subsidiary in China with up to five employees.

About iWatt, Inc.
iWatt, Inc. is a power control IC company that designs, develops and markets semiconductor and power system products for the computer, communication, consumer and industrial market segments. The company's patented digital control and power system architecture expertise raises the bar in power supply price/performance metrics. iWatt is currently working with market leaders in the computing, telecom, networking, flat panel display and portable device markets to develop high density, high value AC-DC and DC-DC power supplies. iWatt is based in Silicon Valley with headquarters in Los Gatos, CA, with offices in Fort Collins, CO; Taipei, Taiwan; Shenzhen, China; and Hong Kong. For more information, visit www.iwatt.com or call iWatt at (408) 374-4200.