Growing businesses in the energy, process, or infrastructure industries often find themselves expanding the territory they serve. Over time, your company may no longer be able to generate profit on projects located close to your headquarters. Expansion is often critical to ongoing success and growth. You will need to start seeking work in other cities, countries, or continents. Securing a contract or project overseas can be an incredible opportunity for your company. However, it can also create a host of new issues and complications.
One of the biggest concerns for many companies expanding into new regions is the complex nature of international payroll services. Whether you decide to relocate your domestic staff to a remote work site or you hire local talent for contract positions, you need to ensure compliance with local and international laws. Many times, you will need a working knowledge of domestic laws where you have your headquarters, as well as the laws in the country where you are working and the laws in the country of origin for your workers. It is easy to see how that can quickly overwhelm your internal payroll staff.
Even domestic payroll can prove to be too complicated for some professionals. Adding international compliance issues can make payroll prohibitively complex for many. Your company cannot afford to make mistakes when it comes to contractor or employee payments or taxes. These kinds of compliance issues can damage your reputation and potentially incur financial losses, such as fines or other penalties. Why risk making a costly mistake by handling international payroll in house?
It is logical for companies who want to expand without dramatically increasing their operating overhead to seek help from international payroll service providers. The right company can manage all the details related to accurate withholding and international tax law compliance. Your staff will not need to complete additional training, and you will not need to worry about the damaging impact of any kind of mistake or oversight.
Far too many companies that offer accounting and payroll services have limits on their abilities. Many companies only serve one or two countries. Others limit themselves to a specific geographic region, like Europe or North America, leaving you to juggle the services of multiple payroll companies for different project locations. Your company does not need to invest time and energy in managing so many payroll vendors. Instead, you should choose Airswift.
Airswift has a truly global reach. For more than 30 years, Airswift has been helping companies in the infrastructure, process, and energy fields outsource and manage the various needs related to international company growth. With more than 60 offices around the world and a staff comprised of industry insiders with technical experience, Airswift has the knowledge and experience you need to successfully comply with international payroll and tax withholding laws. If your company wants to expand into international markets, choose Airswift for your international payroll needs.