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Global Employment Tax and Compliance Newsletter. February 2024

The Global Talent HorizonUnlocking the potential of a world without work borders Welcome to February’s edition of our newsletter, where we focus on the transformative power of hybrid workforces — a blend of permanent and temporary talent across the globe — to drive unparalleled business resilience and agility in today’s ever-evolving marketplace. This month, we… Read more Global Employment Tax and Compliance Newsletter. February 2024

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The Global Talent Horizon
Unlocking the potential of a world without work borders

Welcome to February’s edition of our newsletter, where we focus on the transformative power of hybrid workforces — a blend of permanent and temporary talent across the globe — to drive unparalleled business resilience and agility in today’s ever-evolving marketplace.

This month, we shine the spotlight on our groundbreaking Contractor Solution, which is set to redefine global freelance talent management. Join us as we journey to Cyprus with our Senior Leadership team, to celebrate past achievements and envision a boundless future.

Explore the strategic benefits of a hybrid workforce and unveil flexibility as your ultimate global market asset.

The Future is Freelance: Embracing the 2024 Workforce Revolution

The freelance revolution is reshaping the 2024 workforce, offering businesses unprecedented growth and flexibility. As highlighted by @Forbes, this shift towards a freelance-dominated economy is not just imminent; it’s strategic.

Forbes Insights at a Glance

  • Economic Growth: With a forecasted 2.6% GDP growth in 2024 by Goldman Sachs, the freelance market is vibrant and expanding.
  • Surge in Freelancing: Post-COVID, there’s been a 130% increase in freelancers: evidence of  a growing workforce ready to innovate.
  • Industry Optimism: Leaders of freelance platforms anticipate substantial growth, especially in tech, marketing, and consulting.
  • Expert Networks: These networks are becoming a billion-dollar industry, offering short-term, high-value engagements.

This data underscores the strategic advantage for businesses to tap into the global freelance talent pool, which promises flexibility and access to the best expertise.

Explore how the freelance revolution is powering the future of work in Forbes’ article Read More.

Hybrid Work Is Here: The Benefits of a Full-Time and Freelance HR Strategy

The future of work is flexible, adaptive, and inclusive of diverse working styles. By integrating freelancers alongside full-time staff, businesses can unlock a host of benefits, enhancing their competitiveness and agility in the global market. Here’s why a hybrid workforce strategy is your key to a thriving, dynamic business environment:

  • Increased Flexibility: Quickly scale your workforce up or down based on current business needs without the overheads associated with full-time hires.
  • Diverse Skill Sets: Access a broad range of skills and expertise on-demand, allowing for innovation and creativity in tackling projects and challenges.
  • Cost Efficiency: Save on long-term labour costs by hiring freelancers for project-specific work, and optimising budget allocation for growth initiatives.
  • Market Responsiveness: Respond swiftly to market trends and demands by leveraging the agility of freelancers to pivot strategies and operations as needed.

Talent Trial and Integration: Assess freelancers in real-world projects before committing to full-time roles, ensuring a good fit with company culture and work ethic.

  • Global Talent Pool Access: Break geographical barriers by engaging with top talent from around the world, enriching your team with global perspectives and expertise.

Embracing a hybrid workforce model means being at the forefront of workforce innovation, ready to leverage the collective strengths of both full-time employees and freelancers.

Are you ready to transform your workforce and embrace the future of work to explore how our strategic approaches can empower your global team?

Announcement: Introducing Contractor Solution

Our Contractor Solution acts as your single global partner, ensuring seamless freelance engagement across 190 markets. This service ensures compliance and risk mitigation and offers a pathway from contract roles to full-time positions, embodying the essence of a truly hybrid workforce strategy.

Top 5 Benefits:

  • Compliance Assurance: Navigate international labour laws with ease.
  • Cost Efficiency: Save on the expenses of establishing foreign entities.
  • Flexibility & Scalability: Adapt to market demands with global freelance talent.
  • Expert Support: Benefit from dedicated Acumen management for project success.
  • Contract-to-Employee Pathway: Smooth transition for growing teams.

Learn how our Contractor Solution can transform your business.

The Top 5 Countries to Find Freelancers and Digital Nomads

In the evolving landscape of the global talent economy, the significance of location has never been more pronounced. A growing number of countries offer incentives to freelancers and digital nomads catering to their unique working lifestyles. 

These incentives not only simplify the process of working remotely but also enrich the professional and personal lives of modern workers. Below, we explore the top five freelancer-friendly countries leading the charge in welcoming global talent.

  1. Spain & Portugal: Known for their vibrant cultures and stunning landscapes, both Spain and Portugal offer a special visa for digital nomads, alongside tax benefits for non-residents, making them an attractive destination for freelancers seeking a blend of work and leisure.
  2. Estonia: A pioneer in digital governance, Estonia’s e-Residency programme allows global entrepreneurs to easily start and manage an EU-based company online, making it a haven for digital nomads looking to expand their business footprint.
  3. Georgia: The Remotely from Georgia programme invites freelancers and remote workers from 95 countries to stay and work in Georgia for up to one year. Georgia offers a blend of rich culture and a supportive environment for digital nomads.
  4. Romania: Through its IT park scheme, Romania offers significant tax incentives for IT contractors. It is a cost-efficient haven for tech talent. It offers benefits for reinvestment and R&D activities, making it an emerging hub for digital nomads and remote workers in the tech industry.
  5. Mexico: Offering a Temporary Resident Visa specifically for remote workers and digital nomads, Mexico is appealing with its low cost of living, beautiful locale, and the opportunity to stay for up to four years with the possibility of renewal.

These countries are gateways to new ways of living and working. By offering tailored incentives like special visas, tax benefits, and supportive digital infrastructures, they are becoming hotspots for freelancers and digital nomads ready to explore the world without pausing their careers.

Eager to tap into the global talent pool and expand your team’s horizons?

Contact us today to discover how we can help you navigate the global talent economy and find the perfect blend of talent for your projects.

How To Convert Independent Contractors into Employees

Today’s evolving work environment demands strategic workforce transformations. In our latest article, How To Convert Independent Contractors into Employees, we’ve delved into the shift from contractor roles to permanent employment, emphasising compliance, adaptation, and meeting modern workforce expectations.

This transition is critical for maintaining legal compliance and operational efficiency amidst increasing regulatory complexity and global workforce mobility.

Contractor Management: Key Insights

  • Regulatory Complexity: Navigating a labyrinth of global compliance requirements challenges businesses to maintain robust governance frameworks.
  • Workforce Mobility: The rise in remote and international work arrangements presents unique compliance and operational hurdles.
  • Strategic Adaptation: Organisations must regularly update their governance strategies to align with business goals and mitigate risks.

Embracing this shift ensures compliance and positions businesses for sustainable growth and enhanced talent management.

Discover comprehensive strategies for a seamless transition in an interview by Natali Oprya, Acumen’s VP of Marketing Strategy.

In a landmark gathering, Acumen International’s team met in Nicosia, Cyprus, for the Global Meet-up, marking a pivotal moment of reflection and forward planning. This gathering, a first since our transition to a fully remote model due to the Russian invasion of Ukraine in February 2022, was as much of a reunion as well as a strategic session held by the company’s CEO, Nick Ganzha and the celebration of our resilience and innovation. 

This meet-up highlighted our journey through the complexities of international labour regulations, driving us to develop and launch a Contractor Management Solution alongside our Employer of Record (EOR) services. 

Born from our direct experiences and the evolving needs of our clients, this solution underscores our commitment to compliant, efficient workforce management across borders. Nick’s announcement of the strategy in our Cyprus gathering not only solidified our resolve but also set a clear direction for Acumen’s future, with a focus on expanding our service offerings to meet the demands of a dynamic global employment landscape.

What’s New in Global HR Legislation

Stay informed with the latest in global HR legislation to keep your business compliant and forward-thinking.

Germany Eases Citizenship for Global Talent

  • Summary: Germany reduces citizenship residency requirements from eight to five years, three for highly integrated non-EU citizens, to attract skilled workers.
  • Employer Impact: Opens up a new talent pool, especially in sectors with labour shortages.
  • Employer Actions: Support foreign workers’ citizenship efforts through integration courses and stay updated on the law.

Dive into the full FT article for more on Germany’s law and its impact on talent strategy.

EU Gig Economy Directive Affects UK Firms

  • Summary: The EU’s new directive mandates full employment status under certain criteria, changing gig economy operations.
  • Employer Impact: Requires reevaluation of workforce classification and management.
  • Employer Actions: Assess business models against EU rules, ensure transparency in algorithmic decision-making, and monitor UK legislative developments.

Explore the EU Platform Work Directive’s implications for UK legislation.

U.S. Department of Labour Advances Equity

  • Summary: The updated Equity Action Plan from the U.S. Department of Labor aims to improve job equity and accessibility.
  • Employer Impact: Encourages equitable job opportunities for all workers.
  • Employer Actions: Review hiring practices for inclusivity, partner with diversity-supporting organisations, and utilise federal equity programs.

Learn more about how the Equity Action Plan affects your business practices.

Summary & Close

As we navigate the complexities of the global employment landscape, flexibility remains our guiding principle. Our journey to Cyprus reaffirmed our commitment to breaking barriers and embracing a future where hybrid workforces are both a possibility and a necessity for growth and innovation.

Thank you for joining us this month. We look forward to continuing this journey, shaping a resilient and agile global workforce.

Stay updated with the latest news and updates from Acumen International.

Sign up for the Global Employment Tax & Compliance Newsletter to stay updated on hot labour and tax law changes with the latest in global employment, tax, and compliance across 190 countries.

Stay informed, stay ahead.

Countries

Malaysia

Malaysia is a Southeast Asian country located on the Malay Peninsula and the island of Borneo. The country shares borders with Thailand to the north and is separated by the South China Sea from Vietnam to the northeast and Indonesia to the south and southwest. Malaysia also shares maritime boundaries with the Philippines to the… Read more Malaysia

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Malaysia is a Southeast Asian country located on the Malay Peninsula and the island of Borneo. The country shares borders with Thailand to the north and is separated by the South China Sea from Vietnam to the northeast and Indonesia to the south and southwest. Malaysia also shares maritime boundaries with the Philippines to the northeast and Brunei to the east. The Malay Peninsula, which extends southward from mainland Asia, is the larger landmass of Malaysia. It borders the Strait of Malacca to the west, which connects the Indian Ocean to the east with the Andaman Sea to the west.

To the east of the Malay Peninsula is the island of Borneo, which is shared with Indonesia and Brunei. The Malaysian part of Borneo, known as East Malaysia, consists of two states: Sabah and Sarawak. Borneo is the third-largest island in the world and is characterized by dense rainforests, rugged mountains, and abundant wildlife. It is separated from the Malay Peninsula by the South China Sea.

Read more
News

Cyprus Event Highlights: Next Growth Phase and Board Introduction

As the curtains closed on this weekend’s Global Meet-up in Cyprus and the team is back home now, we’re filled with inspiration and gratitude from an incredibly valuable and enlightening trip and a strategic session with our CEO Nick Ganzha✨ Nick shared Acumen’s evolution from its 2001 inception, moving from staffing to a global EOR solution by… Read more Cyprus Event Highlights: Next Growth Phase and Board Introduction

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As the curtains closed on this weekend’s Global Meet-up in Cyprus and the team is back home now, we’re filled with inspiration and gratitude from an incredibly valuable and enlightening trip and a strategic session with our CEO Nick Ganzha✨
 
Nick shared Acumen’s evolution from its 2001 inception, moving from staffing to a global EOR solution by 2011. From operating in 15 countries in 2015 to 33 countries in 2016 and 190 by now, we’ve achieved global reach, fulfilling our dream of being a global company aiding businesses in expanding internationally.
 
Looking ahead, we unveiled a refreshed strategy and technology offering that will better serve our clients alongside our core EOR service. In addition, the announcement of an expanded company board marks a fresh strategic direction. Abid Hamid, Maria Savva, Sergiy Gerenko, Oleg Pichkur.
 
🌟 Stay tuned for more news on our new-look board as we embark on this exciting phase of growth and innovation.

Global Employment: Acumen International meet up
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Global Employer of Record with Immigration Support 

An international workforce can open new doors for you. Recruiting someone from overseas can also be a smart bet for businesses looking to expand into new markets and hiring skilled international professionals. It might even be that your business needs to meet a certain level of diversity in its workforce to qualify for certain tax… Read more Global Employer of Record with Immigration Support 

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An international workforce can open new doors for you. Recruiting someone from overseas can also be a smart bet for businesses looking to expand into new markets and hiring skilled international professionals. It might even be that your business needs to meet a certain level of diversity in its workforce to qualify for certain tax breaks. In those cases, hiring foreign nationals can be an easy way to meet your business goals.

Hiring Overseas: the Easiest and Hardest Countries to Get Work Permits for Employees

Generally, easier countries to work in are either already popular business destinations or have minimal requirements to get a work permit for your foreign talent. On the other hand, some countries may have long and complex work permit processing periods or be difficult to access due to existing diplomatic issues or international sanctions.

Countries with a high number of ex-pats and low barriers to entry are popular choices for companies looking to send employees abroad. In some cases, working conditions in this country may encourage companies to rethink their traditional hiring process, which can be time-consuming, complex, and expensive. Acumen’s Employer of Record Solution is designed to alleviate these burdens by streamlining the work permit securing and business immigration processes for both employer companies and employees so that everyone can benefit from successful international assignments.

The Acumen Global Employer of Record Solution provides work permit securing support, is designed to comply with each country’s local business immigration regulations, and is flexible enough to meet the needs of organizations sending employees on short-term or long-term assignments.

Get Express Quote

5 Benefits of a Global PEO Solution with Immigration Support for Hiring Foreign Talent Overseas

If you target one of these harder countries or need work permit support to employ foreigners in other locations, a global Employer of Record (EOR) solution may be a solid fit.

The Employer of Record solution is a third-party employment model allowing companies to establish an Employer of Record (EOR) in another country without setting up a legal entity. The global EOR acts as an extension of the company’s existing HR department and assumes responsibility for all employment-related tasks on behalf of the company while enabling faster onboarding. Acumen acts as the Employer of Record (EOR) in every case, helping secure business visas and work permits for our client’s employees. Individuals are then free to enter the country legally and begin working immediately upon arrival.

1. Global Reach: Hire Foreign and Local Talent in 190 countries

Acumen’s Employer of Record (EOR) solution covers more than 190 countries worldwide, giving employers an impressive list of desirable business destinations. We can help with work permits and visas, so we are available where you need us. We’ll take care of all your visas, permits, and other immigration matters so you can focus on running your business.

Employer of Record (EOR) Solution with work permit immigration support streamlines the process of hiring talent abroad and helps achieve 100 compliance with regulatory requirements in different countries.

A global Employer of Record (EOR) service provider is a company that technically “hires” ex-pats in the host country on behalf of your company. Your company still has ultimate control over directives, hiring, and firing; the global EOR solution helps with the legal and compliance side.

2. All Global Employment Services under One Roof

Employing a hybrid talent team comprising foreign and local workforce can be complex and tricky if the staff is scattered across several countries and working on different projects. If you’re a global company with some people working in other countries, you may find they have to be sponsored by a local entity, either a branch of yours or another company.

The process is often tedious and time-consuming, particularly when managing a team of people who need multiple visas and work permits. Global employment needs consolidation is the key to making this process easier—you get all services from a single service provider while reducing your cost, time, and management effort.

1. Recruitment

2. Global Mobility

3. Checks

4. Onboarding

5. Payroll Administration

6. Working Time & PTO Processing

7. Benefits Administration

8. Tax Administration & Reporting

Offboarding
Talent skilled in highly-specialized areas Employee Work Visa and Work Permit sponsorship Health checks Employment Agreement drafting In-country registration with statutory bodies Working hours Mandatory Benefits Tax Reporting frequency and requirements; Employment agreement termination:
Executive search Dependent Visa Criminal record checks Compliant worker onboarding on your behalf Day-to-day payroll management Overtime Health insurance Employer taxes & contributions Dismissal – by the employer
Contingency workforce Visa extension Background checks Account setup in the payroll and HR system​ Monthly pay slips or other pay frequency Public holidays Workers’ compensation Employee taxes & contributions Resignation – by the employee
  Application for a sponsor license for a foreign national Education checks Employee data entry and records maintenance Accruals Annual leave Unemployment insurance Withholding tax Termination by mutual agreement
  Relocation assistance   Managing probation periods Allowances Parental leave Voluntary Benefits Local tax payments and reporting to local authorities Notice period handling
        13th and 14th salary Sick leave Share plans for executives End of financial year reporting Final settlement & severance payments
          Additional leave Bonuses & Equipment provision   De-registration with statutory bodies
            Expenses reimbursement & business trip processing    
            Health insurance, dental treatment    

Compliance and legal guidance at every step of the Global Employment Journey. 24/7 local support.

Get Express Quote

3. Guided Support for Business Immigration: Cutting through the Jungle 

When a company decides to hire a foreign employee, filing for immigration is often a complicated, convoluted process. It’s easy to make mistakes that could lead to work permit and visa delays or even denials. That’s why our Global EOR solution provides clients with information and guidance at every step of the application process to help them succeed in the immigration process.

One of the biggest challenges employers face is navigating the extensive documentation requirements of the immigration process. Employers must collect dozens of documents from their employees, including proof of citizenship or legal residence, previous employment verification, birth certificates, and other supporting documents.

In addition to collecting these documents from their employees, employers must submit several applications to government agencies to sponsor their employees for employment visas. Employers must ensure they submit the correct applications with all supporting documentation on time or risk delaying the application process.

4. Streamlined Application Processes and Error-free Paperwork

We are here to streamline the paperwork as much as possible, so all our clients have to do is fill out forms, sign documents, and provide proof of employment and other requirements—we provide everything else, including expert advice and support during all stages of the process.

Our staff of immigration experts handles every aspect of the employer of record’s role in a business immigration case, from start to finish. That means all you have to do is provide us with the required documentation, sign the paperwork, and help your employees fill out their forms—that’s it. We’ve streamlined the process so that our clients don’t have to spend hours doing the legwork themselves, but they still get to see their cases through from beginning to end with our help.

When you hire Acumen International Employer of Record to be your point person for immigration needs, we’re here for all your foreign talent immigration needs:

  • advice on what forms you need to provide and how you need to fill them out;
  • assistance with gathering documents and completing paperwork;
  • helping you prepare for any in-person visits or interviews you might have;
  • coordinating everything with in-country immigration authorities as necessary;
  • staying with your cases until they’re approved.

5. Minimizing Visa and Work Permit Rejection with a Global Employer of Record

Getting work permits for your ex-pat team is far easier when you have a single entity sponsoring the permits and officially employing them. If you are an employer looking to lower the effort and cost involved in managing your international workforce, look no further. Acumen Global Employer of Record can sponsor visas and work permits for any number of employees, regardless of location.

Get Express Quote

Employer of Record with Immigration Support Is Not an Immigration Service

Our corporate clients can use our global employment B2B services to help sponsor and manage work permits for their foreign employees. It is necessary to clarify a common misconception that our Employer of Record solution caters to the individual international worker.

This is not the case; our business model is tailor-made for corporate clients who can avail of our services when they need to hire ex-pats for their overseas operations.  This means we can sponsor work permits on the companies’ (corporate clients’) behalf so they can officially work with ex-pats whenever and wherever needed.

We need to clarify that a service like Acumen’s global Employer of Record differs significantly from conventional immigration services in function and purpose. Most immigration services are based on providing support for those looking to move abroad and find work. Most of the time, this work is low-skill jobs, and there may be outside factors precipitating the move.

That said, our services are not about connecting international workers to jobs but facilitating global employment needs for employers which already selected candidates. One additional point that bears mentioning is that if a company sponsors a work permit and then employs a person in the country, the chances are higher for them to get a permit.

Acumen International: Employer of Record and Expert Immigration Service Provider

At Acumen International, we pride ourselves on being able to offer a highly affordable and comprehensive immigration solution for international businesses.

Acumen International has over 20 years of experience in handling international immigration matters. With services ranging from Immigration Support, visa processing, and work permit to visa and work permit extensions and renewals, we provide all-in-one global employment solutions in 190 countries at an affordable price, at the speed of light.

Acumen International is the ideal match to secure visas, work permits, hire, payroll, and reward your international talent. We provide comprehensive business support for your company to meet all cross-border employment needs with a single centralised and global hub and avoid the headache of getting different quotes from different providers, sometimes with a language barrier in place. We offer bespoke social business immigration packages for your international talent so that they will not have any immigration, labor, or tax compliance issues when they move abroad.

The Global Employer of Record solution with extensive business immigration support saves your organization time and money while keeping you on top of all legal requirements. Our clients love how much time they save and how easy it is to manage all aspects of their international immigration through us.

Countries

Malaysia O

Malaysia is a Southeast Asian country located on the Malay Peninsula and the island of Borneo. The country shares borders with Thailand to the north and is separated by the South China Sea from Vietnam to the northeast and Indonesia to the south and southwest. Malaysia also shares maritime boundaries with the Philippines to the… Read more Malaysia O

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Malaysia is a Southeast Asian country located on the Malay Peninsula and the island of Borneo. The country shares borders with Thailand to the north and is separated by the South China Sea from Vietnam to the northeast and Indonesia to the south and southwest. Malaysia also shares maritime boundaries with the Philippines to the northeast and Brunei to the east. The Malay Peninsula, which extends southward from mainland Asia, is the larger landmass of Malaysia. It borders the Strait of Malacca to the west, which connects the Indian Ocean to the east with the Andaman Sea to the west.

To the east of the Malay Peninsula is the island of Borneo, which is shared with Indonesia and Brunei. The Malaysian part of Borneo, known as East Malaysia, consists of two states: Sabah and Sarawak. Borneo is the third-largest island in the world and is characterized by dense rainforests, rugged mountains, and abundant wildlife. It is separated from the Malay Peninsula by the South China Sea.

Read more
News

Acumen International’s Cyprus Meet-Up: The Unity of a Global Talent

Last few years saw an unprecedented change at Acumen. These were monumental years for the entire team!  After the pandemic, all our team was used to working remotely and we enjoyed it and reaped the benefits. However, a challenge of a completely different nature turned up. As a result of the Russian invasion in Ukraine… Read more Acumen International’s Cyprus Meet-Up: The Unity of a Global Talent

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Last few years saw an unprecedented change at Acumen. These were monumental years for the entire team! 

After the pandemic, all our team was used to working remotely and we enjoyed it and reaped the benefits.

However, a challenge of a completely different nature turned up. As a result of the Russian invasion in Ukraine in February 2022, our entire Kyiv office had to relocate to different locations in the country and internationally. For the last few years, we were able to relocate part of the Ukrainian team to Cyprus, and we have extended our local team.

Additionally, we onboarded global talent in many new jurisdictions including the United Kingdom, France, Germany, Spain just to name a few. 

While the prospect of massive upheaval could have been daunting, it gave us the chance to gain a true customer perspective of our services, the flexibility, and scrutinise our product offering from a client standpoint.

We managed the challenge – and achieved 98% employee retention, underlining our team’s confidence in the company which was supportive of the whole team no matter the circumstances.

Next week, all of Acumen International’s team will meet at our client service hub in Cyprus, in our office in Nicosia, some for the first time since we embraced the challenge of working fully remotely, with a 100% international team. 

Our client service hub is run by a blend of our local Cypriot team and colleagues dispersed from Ukraine with Maria Savva overseeing all projects we manage for the clients.

Over the coming weeks, we’ll reflect on the transformational years 2022 and 2023, and look forward to the future growth. We’ll also be sharing some of the key learnings from our own experience to help other companies maximise the benefits of deploying a global workforce.