Effective Ways To Pay Your Overseas Staff
If you've been exporting goods for some time and reached the point when you
realise that you should take the next step and set up an overseas branch, then this article is for you. Similarly, if you've spotted an opportunity in Europe, America or Asia but aren't that big a company and don't have the confidence to move abroad, read on. Many companies know that they have much to offer but are put off by the inevitable challenges they think they'll face once they begin to expand overseas.For example, it's all very well sending your most qualified staff abroad because they understand your products inside out, but it's not much use if they can't communicate with potential clients. Of course, there are ways of getting around this; you could employ locally based staff knowing that, because your products are sufficiently robust, they will speak for themselves. No, the actual selling of your products overseas isn't the real problem; it's usually dealing with the minutiae of paperwork and the administration involved in a country's everyday working life that causes the real headaches.
For example, every country on every continent has its own tax and employment laws. Paying people and sorting out their tax liabilities may not be as straightforward as you'd like it to be. To start with, you'd have to register with the appropriate local tax authority; that can be quite a minefield in some countries and take extraordinary amounts of time. And whether you're paying your own staff who have moved abroad, or employees who live locally, you can't assume that you can use the same payslips you use in the UK. There are some countries which have stringent rules and regulations about the exact format which payslips should take. Get it wrong and your company could be faced with unexpected costs.
There are lots of other examples about how paying staff varies from country to country. But please don't let this put you off. Rather than be defeated and give up on ideas of expanding overseas, make your administrative life as easy as possible by engaging a UK company with experience of HR services and working with international payrolls.
One such company is PBS UK which provides HR and payroll services in over 160 countries. Working with international partners for over ten years, PBS has built up a reputation of providing companies with a single point of contact in the UK, backed up with a network of overseas contacts able to open doors for your company. This is because PBS UK understands the local conditions, has an excellent grasp of local rules and regulations as well as a working knowledge of local languages.
Just think what this means! By off-loading the admin side of your overseas payroll, you can concentrate on what you're good at producing and selling your products. Employing a company which is used to the complexities of other countries' legislation, you won't have to worry about the time it takes to registering with local tax authorities. Similarly, there's no way you could make inadvertent mistakes by not using the appropriate forms to comply with local rules. Leave it to the experts in their field.
Whether you are aiming to expand your business to the Americas, Europe, the Middle East or Asia, outsourcing your international payroll is cost effective. But above all, it reduces the hassle of dealing with complex legislation so that you can concentrate on other aspects of your business.
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