GLOBAL EMPLOYMENT
Things we do, so you don’t have to
In every country boundless takes care of every detail of global employment.
Here’s what we do for every single country:
- Task estimated time:
- Days
- Weeks
- Months
- Indeterminate
Set Up Operations
- Research incorporation options, corporate structures, and corporate responsibilities
- Understand requirements for being allowed to employ locally
- Figure out what documents you need to sign, and what documents you need to provide
- Find a trusted, experienced local legal advisor
- Source accountants and payroll partners
- You may need a reliable notary service
- Work with benefit providers to develop benefit packages
- Will you need to have a local bank account or whether an online payments platform would be sufficient?
- Are you required to maintain a minimum balance on your bank account?
- What restrictions are there on moving money into / out of the country?
- What is the Anti Money Laundering process for opening a bank account?
- Figure out if the director needs to be a local resident
- Figure out if the company secretary needs to be a local resident
- Figure out if employer pension contributions are mandatory
- Figure out if workers' compensation insurance is mandatory
- Figure out if you need a physical office
- Register an entity
- Register as an employer
- Sign up for employer insurance
- Register for employer taxes
- Register with all appropriate tax authorities
- Come across and navigate much more red tape when setting up operations than you suspected
- Come across and navigate a few extra stumbling blocks due to Covid-19
- Find a virtual office
- Find a local director when you need one
- Print, sign, notarise, apostle and ship all necessary documents
- Repeat all that if there is a mistake in any of the documents (there will be)
- Provide all documentation for Anti Money Laundering records
- Secure approval to move forward with opening a bank account following Anti Money Laundering review
- Submit Anti Money Laundering docs to bank
- Make a bank holidays calendar
- Keep updated with all legislative changes
Run Payroll
- Figure out local pay periods and pay dates
- Collect employee bank account, address, tax codes
- Collect every change that has an impact on the monthly payroll - absences, extra payments, benefits in kind, termination, etc.
- Ensure all mandatory monthly and annual declarations are filed to the authorities
- Process payroll to every employee on time and correct
- Answer every single query coming from any employee
Extend Benefits
- Find local benefit providers
- Tell vendors when you have a new employee enrolling in the benefit scheme
- Communicate changes of benefit benefactors to payroll partners
- Pay benefit vendor
- Reconcile payment against payroll deductions if benefit is paid through a salary sacrifice
- Reconcile payment against payroll deductions if benefit is paid through employer contribution or offset
File Taxes
- Figure out any existing tax exemptions
- Figure out if you need to register for sales tax
- Figure out if you need to register for VAT
- Figure out the setup process for online handling of submissions to the tax authorities
- Figure out all Work from Home tax allowances and breaks
- File taxes monthly and annually with the help of your accountant
- Pay the accountant
- Submit Year End declarations
Employ People
- Ask lawyers to send you a sample local agreement
- Understand local employee rights
- Understand statutory benefits
- Understand employer obligations
- Figure out what the local identification number is that you need to be asking for
- Study closely what the local rules around terminations are
- Figure out local regulations for gathering, managing and storing employee personal data
- Figure out the definition of a safe workplace
- Understand what your obligations are in providing a safe workplace
- Find out all Work from Home regulations
- Figure out how to verify identity and right to work
- Find out if eye-testing is statutory
- Find multilingual support for bilingual contracts
- Figure out your legal obligations
- Create compliant employment contracts
- Get legal council on your employment contracts to make sure you are not breaching any laws
- Set up contracts up in digital tool
- Send contracts out for signing
- Answer contract-related queries from employees
- Make contract-related amendments
- Gather all necessary employee data
- Check all data for accuracy
- Create a locally compliant termination policy and share it with employees
- Follow the local termination procedure to avoid any unfair dismissal claims
- Pay out any severance in case of termination
- Communicate terminations to local authorities and benefits providers
- Ensure people have an ergonomic set up
- Cover the cost for glasses if employees need them
- Produce a handbook
Pay Authorities and Service Providers
- Evaluate whether you should have a retainer with your lawyer
- Get legal counsel on how to approach sending funds to your entity
- Get pricing agreements for sending funds
- Find a decent platform to exchange your currency at the best rate
- Find out what the deadlines for each authority in each country is
- Send money from your HQ to the local entity
- Pay your accountant
- Pay your lawyer
- Pay the fees of your virtual office
- Pay sales tax
- Pay all governmental authorities
- Ensure international transfers are sent well in advance in order to arrive on time
- Ensure all authorities are paid on time
- Ensure 3rd parties are paid on time