Foreign Independent Contractors: International Payment Options
When Foreign Independent Contractors are scattered across a number of geographies, managing them and ensuring they get paid the correct amounts and on time, can be challenging. Standard payroll systems often struggle to meet the complexity demand of an international payment
An option that we often see being proposed is “crypto,” but this is usually not the best option and in most cases not a desirable one. We see crypto sales organisations trying to sell their services by linking those services to foreign contractor payments. This may look attractive but we always caution clients to consider the potential compliance implications.
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Talk to Vinton Group on How to Hire and Pay Independent Contractors Worldwide, the Legal Compliant Way
The Statutory and Compliance considerations when hiring Independent Contractors is much more complicated than clients may think, especially foreign independent contractors. Any “solution” that tries to avoid statutory or compliance considerations should be avoided. Only solutions that remain fully compliant, both in terms of statutory and legal compliance should be considered. In the international arena, the budget option may be the option that is weak on compliance issues.