As nearshoring grows quickly as a strategy for businesses worldwide wanting to enter the robust U.S. market by moving manufacturing operations to nearby Mexico, the Hone Maxwell LLP team has emerged as a leading authority in nearshoring’s legal and tax implications.
On Nov. 8, 2024, HMLLP international tax law attorneys shared their insights about the business and tax advantages of nearshoring strategies in Mexico for Asia-based businesses. Co-organized with CW CPA and held at CW’s Hong Kong headquarters, the educational lunch included presentations by HMLLP Managing Partner Josh Maxwell, Senior Associate Aaron Li and Associate Jared Garfield. They were joined by Zavero Consulting President Veronica Contreras, Invest Monterrey Executive Director Hector Tijerina and CW CPA China Consulting Team Manager Phenix Zang and Advisor Eva Deng.
While nearshoring carries many benefits, including cost efficiencies in both supply and labor, the team spoke about some of the challenges that can arise in a nearshoring strategy and solutions to overcome these hurdles.
The event, which was also attended by Senior Associate Claudia Ignacio, was the firm’s first in Asia since HMLLP announced its opening an office in Singapore. It serves as an example of how strong relationships with partners in Asia create collaboration opportunities that benefit the firm’s international tax and business law clients.
We look forward to future engagements with our valued partners in Asia!