International expansion offers a challenging but rewarding opportunity for businesses looking to tap into global markets and recruit top talent. However, navigating new regulations, cultural differences, and administrative work can present significant risks and costs.
As a leading global HR platform with our own history of global expansion, we can give you all the tools you need to overcome these challenges. We can also advise and inform your decision-making, and help you optimize your resources as you venture into new territories.
When we talk about global expansion, we’re talking from experience. We’ve built and scaled a team of more than 1,000 employees across 70+ countries and work with customers on every continent. We know what’s required to successfully expand abroad.
In this guide, we’ll tap into that experience and expertise, and give you actionable advice and tactical insights. We’ll give you proven guidance on not just how to enter new markets, but to scale sustainably and cultivate long-term success.
Specifically, we’ll:
Discuss how to nurture a strong global presence
Explore localized strategies that protect your business from the cultural and regulatory challenges of new markets
Introduce the core principles of sustainable expansion
Highlight the tools and processes that can simplify this entire process
What is international expansion?
Effective expansion strategies
Building an international team
International expansion is when your company expands its operations from a domestic market to a foreign one. In doing so, it allows your organization to expand its market reach.
Hiring international talent is usually a key part of a global expansion strategy, as the right hires can lay a solid foundation and provide invaluable knowledge of local markets.
The prospect of expanding into foreign markets can be daunting for any type of business — especially small and medium-sized enterprises. The process can be complex, time-consuming, and fraught with unforeseen risks. But if approached with the right strategy and tools, the potential payoff could be huge.What does international expansion look like?
Traditionally, international expansion has required companies to set up legal entities in the countries they want to expand to. But as times change, companies are now exploring alternative — and more cost-effective — methods of global growth.
Importantly, international expansion is also no longer just reserved for large, established companies. Globalization and technological advancements now make it easy for small businesses to expand across borders.
“Despite an uncertain economic outlook, 72% of global businesses are planning ambitious expansions into new markets, supported by major investments in digital technologies.” Equinix Global Tech Trends Survey 2023
Whatever your company’s size, there are many different ways to expand internationally. These include:
Exporting involves selling products or services to customers in other countries, either physically or online.
Exporting can take many forms, such as international ecommerce. With the rise of global payment service providers and shopfront platforms like Amazon, Shopify, and BigCommerce, you can sell products or services to customers all over the world without having a physical presence in those countries.
Licensing refers to when your company grants another company the right to use your intellectual property (IP) — such as trademarks, patents, or copyrights — in exchange for royalties or other fees. This allows you to extend your brand and expertise to new markets without directly operating there.
This can be a viable expansion approach if you possess an IP — such as a software or technology — that has multiple applications, or if your brand is well-known.
Buying out or joining forces with a foreign company is another popular expansion approach, with cross-border mergers and acquisitions showing strong growth in recent years.
This trend underscores the strategic value of acquiring or merging with existing companies to access new markets, technologies, and customer bases.
Ventures and alliances are formal partnerships between companies in different countries, with the goal of accessing new resources, expertise, and market reach. An alliance can allow your business to enter new markets, share risks, and leverage complementary capabilities.
Unlike a merger, the goal is to create a mutually beneficial partnership, usually with organizations in different verticals.
As the name suggests, direct investment involves investing in a foreign company with the aim of gaining some control over the management or operations of that entity.
Some investors will decide to take their involvement a step further by establishing a physical presence in the company’s country (usually by setting up a subsidiary or a branch office). This allows you more control and influence over the company’s operations in the foreign market.
This is an increasingly popular expansion approach, with more and more businesses ramping up their investment in underdeveloped markets such as Africa, southeast Asia, and Latin America.
“Emerging economies — which once represented no more than 15% of the global economy — now account for nearly 50% of economic activity.” Mauro F. Guillén, BBVA
Your global expansion strategy should serve as a roadmap towards scaling. Acting as a “true north,” it should outline the concrete steps your company will take to achieve these expansion goals.
“In recent years, bold global expansion could have been seen as too risky or too dependent on capital investment in physical infrastructure. Now, things have changed.” Karl Strohmeyer, Chief Customer Officer at Equinix
International expansion strategies generally tend to follow one of three paths:
In this strategy, your company exports your products or services to foreign markets while still producing them in your home country. This approach enables you to take advantage of your existing production facilities and capabilities to serve customers in other countries.
Exporting your products or services means that you can cater to your international customers’ needs without having to establish local production facilities. It allows for a more consolidated approach to growth, leveraging your company’s existing strengths and expertise while expanding your reach.
This approach is generally favored by small businesses and startups.
With a multinational strategy, your company operates in multiple countries and you adapt your products or services to local market conditions, recognizing that different markets have unique preferences, cultural norms, and regulations.
To better serve these markets, your company may:
Modify your products or services to meet local demand
Tailor your marketing and communication strategies
Establish local production or distribution facilities
In this strategy, the focus is on meeting the specific needs and preferences of your customers in different countries while maintaining a global presence.
In a global strategy, your company operates as a single entity offering a standardized product or service across multiple countries. The focus here is on standardization rather than adaptation. Your company maintains a consistent brand and product across all markets, emphasizing economies of scale and efficiencies.
This strategy streamlines operations, allows for centralized decision-making, and leverages your company’s global brand recognition.
It’s generally favored by — and more effective for — larger, more established businesses.
Not necessarily. This all depends on your company’s goals and resources.
For some businesses, setting up a legal entity may be the right approach. If you have the money and the time, and it aligns with your business goals, this approach can be the most beneficial.
For most businesses, though — especially startups and small businesses — setting up legal entities in multiple countries is not realistic.
As well as the resources required, setting up a legal entity is a serious commitment. If things don’t work out, or you need to pivot, all that money and effort could be wasted — and you may also need to go down the complex legal route of dissolving your entity.
With a global HR partner, you have far more flexibility — and less commitment. For instance, you can test the waters in a particular region by working with independent contractors first; this will allow you to hire internationally with speed, while making it easy to sever ties if things don’t go to plan. Remote’s Contractor Management platform lets you hire, onboard, and manage contractors in a simple and cost-effective way.
If things go well and you want to start hiring employees as you expand, you can use an employer of record (EOR) service — like the one offered by Remote. An EOR allows you to legally hire employees abroad, but without the time, cost, and complexities involved in opening an entity. This enables you to scale your international hiring in multiple markets in a quick but compliant way. As you continue to expand across the globe, you can also leverage Remote’s localized HR, tax, benefits, and payroll expertise. This saves you the time and effort of finding local providers, and helps ensure that you’re always compliant and up-to-date with local labor laws and tax regulations.
We will explain how this works in more detail below.
When entering a new market, timing is an important consideration. But how do you know when it’s the right time to expand?
Here are a few indications that the time may be right to look beyond your borders:
If your domestic market has become saturated and there are limited opportunities for further growth, it might be a good time to explore international expansion. However, ensure your business is stable and successful at home before branching out.
If you’re receiving a significant number of orders or inquiries from customers in a specific foreign market, this could indicate a potential opportunity for growth in that region.
If your research reveals a high demand for your product or service, low competition, or favorable economic or regulatory conditions in a foreign market, this could signal an opportune moment to expand.
Does your business offer a unique product, service, or technology that gives it a competitive edge in a foreign market? If so, it might be worth capitalizing on this advantage through international expansion.
If you can easily adapt your business products or services to fit a foreign market and there’s a clear demand, this can increase your chances of succeeding abroad.
Whether you’re looking to hire one international worker or thousands, Remote has the experience, infrastructure, and expertise you need. Our industry-leading employer of record services guarantee a world-class experience for your global team — and reliable pricing, legal protections, and peace of mind for your business.
There are many reasons why going global could be the right move for your business, such as:
One of the biggest advantages of international expansion is the ability to tap into new talent pools.
When you hire overseas employees, your business gets access to new skill sets and perspectives, while improving diversity and inclusion within your company. According to a landmark study by McKinsey, this can enhance creativity and productivity, with diverse workforces 33% more likely to outperform their peers.
Hiring international talent can also be more cost-effective, especially if your team members work remotely.
Remote can help you find top talent in foreign markets, and hire, onboard, and manage them quickly and easily.
International expansion helps you improve your visibility and reputation in new markets, exposing you to a larger audience and creating trust and familiarity with them. This, in turn, increases brand recognition and, ultimately, revenue.
When you hire people across the globe, your team members will likely be happier about the remote model and its associated benefits. In our most recent Global Benefits Report, for instance, we found that 78% of remote workers were happier about their benefits package, compared to just 60% of on-site employees.
This kind of engagement boosts retention, and also makes your company more dynamic. In our 2023 Remote Workforce Report, 72% of companies said that their teams are now more productive after adopting a remote, globally distributed workforce model.
As mentioned, global expansion opens doors to new markets and customer segments, helping you unlock new sources of revenue. It can also help you outperform your industry peers, with businesses that expand across borders generating an extra 1.9% in annual shareholder returns over competitors that don’t.
According to McKinsey, companies that are already experiencing strong growth in their home markets gain even more from international expansion, achieving an additional 2.6% in annual returns.
As well as increased revenue, global expansion can also lead to potential cost savings. For example, if you’re entering a market where the cost of resources, materials, and employee salaries is lower, you can leverage this.
When you expand into new markets, you need local insight and expertise. Without it, you run the risk of alienating — or, worse, offending — local audiences and partners, either through easily-avoidable communication mishaps, or deeper cultural misalignments. Alternatively, you might be unfamiliar with certain local business processes or customs, costing your business unnecessary time and money.
Hiring people who are on the ground and culturally aware can help you avoid this. Whether you want to work with consultants on a contracting basis, or install a permanent employee to oversee everything, Remote can help you find and hire the right person.
“Hiring international employees gives your company a soft landing when entering new markets and allows you to build trust quickly in new places.” Job van der Voort, CEO and co-founder of Remote
Entering a new market before your competitors do is an effective way to establish brand recognition and build credibility in a new market. By simply getting there first, you can gain a significant competitive advantage over others in your industry.
Even as a small or mid-sized business, you can make big waves if you have the right product or service for the right market.
A global presence allows you to leverage different market trends and customer preferences, enabling you to diversify your revenue streams and mitigate any potential shifts going forward.
Venturing into global markets also reduces the impact of any localized economic downturns. For example, if a recession occurs in a country where you’re active, this can be offset by your performance in other, stronger markets.
This can maintain the overall stability of your business, even during macro-economic rough periods.
If you have a significant number of customers in a particular region — or who speak a certain language — expansion allows you to support their needs far more effectively.
You can hire customer support specialists in those regions with knowledge of the local language and culture, creating a smoother experience for both you and your customers. This approach is scalable, too, enabling you to have dedicated and knowledgeable local CS experts in every country you’re present in.
Broadening your business operations on a global scale gives you an otherwise inaccessible platform from which to forge strategic international partnerships and collaborations.
These relationships offer benefits that can stimulate innovation. You might also be able to tap into previously unexplored markets or amplify your operational efficiency through the transfer of knowledge and technology.
International expansion can come with a lot of plus points but, unsurprisingly, it’s not an easy process. Even when the circumstances are favorable, success isn’t guaranteed — regardless of your industry or business size.
This is highlighted by the numbers, with companies that expand abroad averaging a return on assets (ROA) of -1% for up to five years. Indeed, only 40% of companies are able to surpass a ROA of 3% or more.
This is why it’s crucial to understand the most common pitfalls of global expansion — and how to mitigate and overcome them. Here are some of the key challenges you’ll likely face.
Non-adherence to local labor and tax legislation can mean potential fines, legal action, and even restrictions on doing business. This can be tricky enough in your own country, but unraveling the intricacies of foreign legal frameworks can be complex, time-consuming, and frustrating — especially if they frequently change.
This is why it’s highly advisable to work with an experienced global HR partner. Remote helps ensure that you comply with all labor and tax laws wherever you hire, allowing you to focus on managing your operations and growing your business.
“Remote provides all the local compliance and regulatory knowledge for each specific country in-house. Without them, we would have to hire an additional 3 or 4 people to be able to cover all the local labor laws, taxes, accounting, translation, and payroll responsibilities.” Mona Walther, Senior People Operations Manager at commercetools
So, now that you’re more aware of the benefits and risks associated with international expansion, what does an actual expansion plan look like?
As we’ve discussed, international expansion is about more than just planting a flag in new territory. It’s about understanding diverse markets, leveraging local relationships, and navigating cultural and regulatory nuances.
Here’s an overview of the steps you might take — and an insight into how Remote can help.
This might be obvious, but ensure you take the time to properly understand your new territory’s dynamics. Analyze the data, carry out assessments, and get a solid understanding of your proposed market’s consumer behaviors and preferences.
Explore market trends and identify the growth potential for your company. Take macro-economic and demographic factors into account.
Finally, be wary of any potential barriers to entry, such as cultural differences, language barriers, and regulatory restrictions. Understanding these challenges in advance allows you to find solutions — or reassess if it’s worth entering that market at all. Identifying your mode of entry Determine how you will enter the new market, considering the resources at your disposal and your tolerance to risk. Each entry mode — be it exporting, licensing, merging, or making a direct investment — carries its own extensive list of pros and cons, so it’s about identifying your risk/reward threshold.
For example, exporting your products could be a relatively low-risk option, but it might mean less control over the market. Licensing, on the other hand, may give you swift access to the local market, but you may face quality control or brand reputation challenges. Ensure that you formally outline your plan, too.
Once you’ve done your research and assessed the best entry approach, you need to create an expansion plan. This should act as a roadmap and take several areas into account, including a:
Financial plan : Consider your budget for market entry and the operational costs once you’ve established your presence. You should also account for other factors such as currency exchange rates and possible financing options that may influence your capital structure and cash flow.
Setting realistic revenue and profit projections should help provide a clear financial goal for your expansion. These projections should be based on your market research and account for various scenarios — good and bad.
Risk assessment: International business is fraught with risks, from political instability and economic volatility to cultural differences and regulatory compliance. It’s crucial to conduct a thorough risk assessment, gauging the likelihood and severity of each risk and how it might impact your operations, finances, and reputation.
Once you’ve identified these potential risks, develop strategies to either mitigate or manage them. Contingency plans can help your business continue to operate or, at the very least, quickly recover in the face of unforeseen circumstances. With the right risk management measures in place, your international expansion strategy will be both resilient, flexible, and adaptable.
Infrastructure and logistics plan: Depending on your business, you may need to consider your infrastructure and logistics needs, too. Note that this refers to both physical and digital elements.
This might involve planning out your entire supply chain management process — including logistics and transportation — to ensure a smooth operation for all stakeholders.
This stage involves preparing for market entry and may involve:
Finalizing and securing any necessary funding
Preparing your digital (and/or physical) infrastructure
As mentioned, it’s crucial to understand the legal and regulatory requirements of your new market if you want to avoid fines, penalties, and reputational damage. This means knowing the ins and outs of your new country’s employment legislation, IP laws, and tax and accounting obligations, as well as the requirements for opening an entity.
You can, of course, hire your own local team of lawyers and tax specialists to do this. But this takes serious amounts of time and money. It’s far quicker and more cost-effective to work with an EOR provider like Remote, which does all the heavy legal lifting for you at a fraction of the cost.
This allows you to start hiring the people who can actually drive your expansion in a matter of days.
This phase is when you start to establish a viable presence in your new market. This could involve opening a local office or hiring local staff, and ensuring you have the on-ground resources you need for an effective operation.
In this stage, you’ll also start implementing your marketing strategy to create brand awareness and attract new customers.
Once you’re up and running, the focus will shift to scaling operations and expanding your customer base. This stage involves a continuous cycle of marketing, customer acquisition, and customer retention activities. It’s a period of increased activity and potential rapid growth, often characterized by a strong focus on performance metrics and return on investment (ROI).
At this point, your business will have an established presence in the market. The focus now is on continuously improving your operations and fine-tuning your products or services based on customer feedback and market trends. This is a stage of stability, but it requires ongoing effort to stay competitive and relevant.
Building your team
In terms of your expansion being a success or not, this is arguably the most important step.
“We know that the success or failure of our company is 99% down to our people. So being able to attract and then retain the best talent is vital to our success."
-Antonio Arias, Chief People Officer of QuoIntelligence
When entering a new market, though, this can be tricky. You need to understand the expectations and culture of the region’s workforce, including salary expectations and benefits, as well as the numerous differences in labor law, such as minimum wage, overtime, working hours, and more.
With Remote you don’t have to worry. Our all-in-one platform has you covered at every step of the cycle, allowing you to focus on the actual business. Here’s how it works:
Recruitment
The first step is to actually find the right people. There are, of course, numerous channels to help you do this, such as local job boards, social networks, and referrals.
You can also use Remote Talent to help you fill those difficult roles, with our remote jobs board giving you access to a whole world of talent.
With our EOR service, you can also hand pick and offer the best local benefits, making it easier to attract top talent.
Hiring
Once you’ve found the right candidate and extended an offer, you can hire them quickly and easily through our EOR service or, if they’re contracting, through our Contractor Management service.
This is particularly useful in a new market, as it allows you to “test the waters” with independent contractors before you fully commit. You can easily convert your contractors to employees with us too, ensuring you don’t accidentally misclassify your people.
“Companies are increasingly recognizing the benefits of tapping into pools of skilled freelancers who can contribute on a project basis, providing the necessary expertise without long-term commitment. Interestingly, this isn’t confined to Western countries, but is becoming a popular source of work for developing nations, too.”
-Pedro Barros, Senior VP and GM for Contractors at Remote
Onboarding
The onboarding process is one of the most sensitive sequences of a new hire’s lifecycle. If the experience is negative, the hire may have second thoughts about their decision, and you may end up alienating them.
When you hire through Remote’s EOR, your new team member receives a warm, personalized welcome and full guidance through every step of the onboarding stage. We ensure that the entire process is quick, simple, and compliant, and even provide your new hire with their own HR manager.
This applies to contractors, too. Again, we ensure that the entire process is fully compliant, and provide the same guidance and expert support.
"With Remote, onboarding contractors is seamless: it literally takes seconds to add new people to the platform, issue their contracts, and request the ID documents necessary for them to get started."
- Erik Sveen, Founder and CEO of HomeProject
Payment
Paying your team members and contractors can be safe, simple, and fast. Regardless of where your workforce lives, Remote simplifies everything and allows you to run payroll in minutes.
If you are using our EOR service, payroll is integrated into the process. Which means we do all the calculations, deduct all the necessary taxes, and pay your team members on time. We also provide in-house support for any payroll-related concerns or questions you may have. Learn more about EOR payroll management.
If you opt to open your own legal entity in your new market, we can also provide payroll as a standalone service. Learn more about Global Payroll.
You can also manage and pay your contractor invoices in a matter of clicks — and in a multitude of currencies. Learn more about paying independent contractors.
Managing team members
Managing the day-to-day HR needs of your international team is also simple with Remote. We provide a fully free HRIS, enabling you to consolidate your existing HR stack and run everything in one place. It also enables your employees to self-serve important HR tasks, such as time and attendance tracking, expense management, and document management.
"The HRIS platform is easy to use and everything is there right in front of us. It all comes together and we’re not having to update different sources. That helps us be more efficient, which is so important in a scale-up."
-Bas Moeyaert, Loop Earplugs
Scaling
The best part about expanding with Remote is that there are no limits on your growth; our platform and our services scale with you, all across the world. As you grow your workforce and expand into other countries, you don’t need to change providers or alter your processes. This often isn’t the case with local and smaller providers.
Whether it’s recruiting, hiring, onboarding, paying, or managing, we can handle every element of your global HR, from your first hire to your thousandth — and beyond.
Remote has helped businesses of all shapes and sizes expand across borders, including the following:
Loom, one of the world’s largest video communications platforms, was able to leverage Remote’s global infrastructure to grow its team in multiple new countries.
With a staggering 900% year-over-year growth in 2021, Loom’s global talent pool was critical to managing demand. But hiring internationally posed numerous complexities.
With 15 people in 11 different countries, Loom’s HR team struggled to keep up with local hiring regulations. Creating international hubs and dedicated management wasn’t feasible.
Remote provided coverage where Loom had international employees and entities, offering fair and transparent costs through its EOR service. This partnership allowed Loom to convert contractors into employees, providing legitimacy and an improved experience for their talented workforce.
As we continue to scale and go forward, we can now provide employees the opportunity to relocate through Remote and hire great candidates through Remote.
Loom has since unlocked access to a diverse talent pool while ensuring compliance with local laws. This has enabled the company to grow, and improved the employee experience.
Primer, a leading fintech company, used Remote’s comprehensive infrastructure and expertise to navigate the complexities of international hiring.
Having recognized the potential of remote work, Primer was ready to tap into a global talent pool. However, expanding its team across different countries came with its own set of challenges.
Primer’s partnership with Remote gave Primer the necessary tools and resources to hire internationally, with Remote’s EOR service providing access to a fair and transparent cost structure. This partnership ensured compliance with local laws and regulations, allowing Primer to focus on what it does best: revolutionizing the fintech industry.
I wasn't confident with the other EORs that we use, which is a dangerous game, because that puts more stress and pressure on our team to provide the follow-up. One of the biggest things Remote did was create this environment where you became an extension of our team, really followed up and overcommunicated in a lot of ways. That was vital for us, because it alleviated some of that responsibility from our team internally. -Erin Potter, Head of People & Operations at Primer
Primer was also able to convert its contractors into full-time employees, providing a more consistent and improved experience for their talented workforce. As a result, the company successfully expanded its team across borders while maintaining its commitment to employee satisfaction.
Read more about Primer’s story.
Cutting-edge technology company Seatti joined forces with Remote to revolutionize its approach to global talent acquisition and management.
Like many other companies, Seatti wanted to support its international growth by hiring in new markets. But navigating the complexities of global employment posed a significant challenge.
With Remote, what caught our eye is the fact that you have your own legal entities in so many countries around the world. A lot of other similar providers that we looked at often just did it through partnerships. I think the growth and traction of Remote probably also speaks for itself and gives a strong indication that you're doing a lot of things right. -Chris Bieri, Co-founder of Seatti
Remote’s EOR service ensured that Seatti was fully compliant with local laws and regulations, allowing it to successfully expand its team across borders, and fostering a culture of innovation and diversity.
Read more about Seatti’s story.
Seamlessly manage your workforce, from first hire to final paycheck
As you can see, international expansion comes with a lot of potential rewards — but also a whole host of challenges.
Remote’s all-in-one global HR solution is built to help you navigate these challenges at every step. We enable you to consolidate and grow in new markets by hiring, managing, and paying top local talent, and complying with relevant (and frequently changing) labor and tax laws.
Whether you want to hire one employee or contractor in another country, or hundreds in multiple countries, we provide everything you need — in one streamlined platform. And whenever you need support or guidance, our in-house, on-the-ground professionals are ready to help.
To learn more about our platform and how it can help you expand your business, book a demo or speak to one of our friendly experts today.
Many businesses make the mistake of simply replicating what has worked for them domestically. But expanding into foreign markets requires a deeper understanding of local market dynamics, consumer preferences, and cultural nuances.
For example, many fintech companies are currently expanding into new global markets. These companies are usually focused on engineering and product development.
However, they may not have much experience in planning cross-border go-to-market (GTM) strategies, or understand what types of campaigns, channels, and messaging would be appropriate. This is why it’s important to hire the right people who have a strong understanding of your new market.
Cultural differences can impact many aspects of your business, including its communication styles, negotiation tactics, and employee management. A lack of cross-cultural awareness can lead to misunderstandings, strained relationships, and potential failure.
Again, this is why it’s advisable to hire international employees who are local to the market you are entering. Local employees have a deep understanding of their own culture and customs, and can provide genuinely valuable — and potentially game-changing — insights. Hiring locals also gives you access to a wider network of people who can help you navigate the local business environment.
Foreign markets can be highly competitive, with both local and international players vying for market share. Understanding the competitive landscape and differentiating yourself from your competitors is crucial.
Global competition has rapidly increased in recent years, making it vital to have a well-defined competitive strategy when expanding internationally.
International expansion can involve significant upfront investments, including:
Legal and regulatory compliance
The establishment of local operations
The development of distribution networks
What’s more, you may need to allocate time and money for building relationships with local partners and recruiting and training a local workforce.
This can add up. For instance, setting up legal entities can take up to 12 months and cost over $100,000 per location, depending on the country’s requirements and ongoing administration.
To avoid all this, consider working with an expansion partner, like Remote. With our EOR services, you can hire in multiple countries around the world without having to set up a single entity — and you can be up and running in a matter of days.
To learn more about how an EOR works, check out our in-depth guide.
Depending on your product or service, logistical challenges — like transportation, supply chain management, and customs regulations — can pose significant obstacles to your expansion. Moving products and resources across borders can require careful planning and coordination to ensure an efficient operation.
To get your products and services to your customers, you need an effective distribution network and a resilient infrastructure.
International expansion usually involves dealing with multiple currencies, banking systems, and financial regulations. As part of this, your company needs to be able to carefully manage foreign exchange risks, establish banking relationships, and navigate the intricacies of international payment systems.
You also need to figure out how you’re going to pay your employees and contractors in your new country. Remote can simplify this entire process, either through our EOR service, our centralized payroll service, or our contractor management service.
Data regulations are often a complicated aspect of international operations. They differ from country to country, and can affect how you manage and store data across international borders.
As a result, it’s crucial to be aware of the latest data regulations and requirements. Doing so can help you minimize risks associated with data compliance issues and ensure that your business is properly protected.
When your business enters new markets, it’s important to protect your products, your ideas, and your branding. Securing patents, trademarks, and copyrights (where relevant) is key to preserving your IP.
You also need to have plans in place to prevent your IP from being stolen or copied, in line with local IP laws. And, if any legal issues arise during your international growth, you’ll need to know how to handle them in local courts.
Remote can help you protect your IP when working with employees and contractors abroad.
Data — and other cybersecurity — breaches are rampant across the globe, and if your business falls victim to one, the impact can be severe. According to IBM, the average cost of a data breach in the US in 2022 was $9.5 million.
Keeping your business safe from cyber threats and data leaks is tough, especially when you’re expanding to other countries. As mentioned, different regions have different rules about protecting data, and you need to keep up with all of them.
Transferring data across borders can be risky, and managing security for remote employees and their devices is no small feat. Employees who work from home might use their own devices, too, making your data even more vulnerable.
As a result, you need to make sure your employees know how to stay safe online, and leverage the latest tools and best practices to keep your cyber defenses strong.
If you opt to work with a global HR partner, you need to be sure that its security is up to specifications as well. Remote, for instance, uses enterprise-grade data protection and security protocols, with a dedicated security team able to provide support. Learn more about Remote’s security protocols.