9th November 2020
For contract professionals, the world really is your oyster (or at least it will be once borders are fully open again). International opportunities are rife and have certainly been increasing at some pace in recent years. But, with nuances in global, regional and local tax regulations, the risks that are associated with international contracting mean that expert guidance is needed to remain compliant.
So, what makes a good contractor management company and what should you be looking for in a partner?
A global, regional and local approach
There are variations in geographical tax requirements that could impact your compliance needs. Your country of origin, where you plan to work and how long for, all dictate what you need to do to operate in a compliant way.
And since the global pandemic, achieving this has become even more complex. With travel restrictions in place for some locations and constantly changing, there has been a real increase in contractors delivering work for businesses while operating away from the destination of employment. This remote working option means that, depending where your home country is and where the work is to be delivered for, dual tax requirements could be faced and your compliance circumstances could be impacted.
Knowing that your contractor management company has the global, regional and local knowledge – including on-the-ground connections – to ensure you don’t face any fines or prosecution is critically important to keep you compliant in this ever-changing landscape.
A commitment to training and knowledge development
Given the sheer pace of change in global and local tax compliance, it’s important that the contractor management company you work with is committed to regular training and upskilling of its team. You want to know that whoever you’re liaising with has the knowledge of the global market that’s relevant to you and any developments that could impact your compliance.
Fast payment processes
Ensuring you are paid in a timely manner is understandably important for a contractor and your management company should ensure you receive your funds as quickly as possible. If it’s not publicly available, ask how the business is set up to support this for you.
As a case in point, at 6CATS International, we reconcile our bank four times each day ensuring international payments are allocated and paid out as soon after receipt as possible. These are also made by ‘international priority payments’ ensuring currency payment are sent as swiftly as possible.
What makes a good contractor management company? An award-winning service
Perhaps the most obvious indication that a contractor management company can tick all of the above boxes is an external recognition from a third party, such as an award win. At 6CATS International we strive to deliver an award-winning service and just last week we were incredibly pleased to be named the Best International Contractor Provider at the 2020 Contracting Awards.
If you haven’t heard of this accolade before, the awards recognise the top services providers to the contracting community, with the virtual event taking place last week to announce the winners. According to the judges our submission was a very strong and well put together entry, adding that the company “demonstrated what they can do with real confidence”.
As our own CEO – and the Founder of 6CATSPRO – Michelle Reilly commented when she accepted the award at the virtual event, winning this award really does highlight that we deliver outstanding services to our contractors:
“Winning the Best International Contractor Provider Award is a huge achievement for 6CATS International. Professional contractor management is what we do best, so to be recognised as the best supplier in our sector is testament to the high-quality service that the team delivers. I’d like to say a huge congratulations and thank you to our 6CATS experts for continuing to meet the high standards we’re known for, even in challenging times.”
Keeping contractors compliant
As leading experts in international contractor management solutions, we know that demand for contractors is rife across the globe – and we want to make sure that professionals can have a safe and rewarding contracting experience no matter where they choose to work.
For those looking at opportunities overseas, the fact that you can be deported, banned from working or even imprisoned for non-compliance simply cannot be ignored. But knowing that you are backed by a fully compliant solution can take the stress and headache away, allowing you to get on with the job at hand.
Knowing that the tax compliance expert you choose ticks all of the boxes above can certainly put your mind at ease. But if you want to know more about what makes a good contractor management company, our team of experts are on hand to give you more information. From setting up compliant tax structures and insurance cover, through to submitting timesheets and ensuring you get paid on time, the 6CATS International team can help.
Contact them today to find out more.