Without a doubt, Global Mobility was the most positive outcome of the pandemic, a new door opened for great opportunities for Remote workers around the world and for companies that want to achieve diversity in their workforce and build their dream team. Employees can (and most important want to) work from anywhere with a digitized, hybrid, or remote workforce. At this point it is worth mentioning that employment costs in some countries can be much higher than in Cyprus, before Entering a new market, it is important to have all the information you need and do a proper strategy that is based on your goals. Our alliance with the Globalisation Partners gave us access to the knowledge of the employment laws and regulations of 186 countries.
What are the main benefits of finding employees in another country?
Diversification in Business
Having an international employee gives you access to Diversification. Access to a new language, culture, and entering into a new market or industry event if you are not currently operating and you are just hiring, once you understand that market you might create a new product for that new market and more job opportunities for your company. Before you do that creating a Global Remote Worklplace Culture is important to have productivity once you start onboarding new talents. Multilingual staff can also help you to broaden your customer base or improve your customer service, people are always feeling more comfortable speaking in their native language. By entering new markets you are increasing your revenue potential and your brand awareness.
More Skillful Workforce
If you are looking for Engineers or any other profession that are more technologically advanced you will need to find them in the most technologically advanced countries (USA, Singapore, Norway, Sweden, and Finland). Having a tech employee from such a country will be very beneficial to any company that wants to stay competitive.
Hiring your perfect Talent at a lower cost
Sometimes our expectations when hiring new employees are not met so we settle with the 2nd best option or with someone that we are not completely satisfied with. Imagine a world where you will be able to choose your ideal employee that will also be compatible with your company's structure. Also, it is very important to mention that you might find your perfect employee with half the amount you are paying for employees in your Country.
Hiring International means that you will need to register with a lot of local authorities and have great knowledge about the Employment laws in the country. For example:
- Register with the local tax authorities
- Open a local bank account
- Create a payroll and benefits scheme that's by the Country's and business regulations
- Hiring local accountants and attorneys to ensure compliance with payroll requirements and contracts.
- Immigration services for non-EU and 3rd world Countries.
When Registering as A Foreign Employer in Cyprus there 4 options available as below:
- Use an EU Company
- Creation of a CY Branch
- Registration of Employees as Self Employee
- Registration through an EU Agent
Building a mobile workforce is challenging and is hard work, Talent mobility is critical for today's Global Ecosystem. Investing in the people in your company is the key to every successful business and your company's growth.
The Global Mobility procedure is far more complicated than the relocation of the Company's Headquarters. Whether you want to expand your talent acquisition or you want to explore the possibility of opening a Cyprus branch you can benefit from some support.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.