Enhancing Reach: Leveraging Advisory Services for CPA Firms
Today’s CPA firms have the potential to grow their sources of revenue by expanding their service offerings—specifically by offering consulting advisory services in addition to their existing traditional, high-value accounting services. Today’s blog will explore the different ways in which CPA firms can seamlessly integrate advisory services into their portfolios. Our next blog will feature […]
Office FOMO? New employees may be missing out on career growth opportunities
Originally published on Welcome to the Jungle. There’s no shortage of perks when it comes to remote working—cut the commute, more time for yourself, the privilege of working from anywhere … maybe even in your pajamas. But as more and more people return to the office, young workers in fully remote arrangements are feeling the FOMO. […]
UK’s New Electronic Travel Authorization (ETA): Key Information for Organizations and Travelers
The UK’s Electronic Travel Authorisation (ETA) program is being introduced as a new travel requirement for visitors, students, and business travelers from countries outside the Common Travel Area (CTA). This authorization is set to simplify entry requirements while maintaining security standards, so it’s essential to understand its implications for individuals and sponsoring institutions. Understanding the […]
What is Global Mobility and How an EoR Can Help
What is Global Mobility? Global mobility refers to the movement of employees across international borders to foster growth in global markets. Typically, it involves hiring, relocating, and managing staff while ensuring compliance with all legal and tax requirements across all jurisdictions. Effective global mobility requires a holistic strategy aligned with your company’s growth goals, efficient […]
Navigating Overseas Expansion into the US: 13 Costly Mistakes to Avoid
Expanding your business into the United States can be one of the most rewarding decisions for your company. As the world’s largest economy, the US offers vast opportunities for growth and profitability. However, the journey is fraught with potential pitfalls that can impede your success and lead to unexpected costs. In this blog, we’ll summarize […]
Would Your Company Benefit From Global Entity Management?
Businesses seeking to expand internationally—whether they’re beginning with their first overseas entity or adding to their international presence—must seek efficient legal entity management to manage the operational complexities that global growth presents. For any business, regardless of size or industry, effective legal entity management is critical to both compliance and the proper governance that drives […]
Global Expansion Solutions: Taking Your Business Worldwide
Expanding your company overseas is a large, complex endeavor. A successful approach to global mobility relies on your ability to identify and execute on the proven global expansion strategies that will help you scale your business efficiently while minimizing risk and maintaining a positive employee experience across every country in which you operate. This blog […]
Introduction of Mandatory Auto-enrollment Pension Scheme: Ireland
Ireland is set to introduce a new auto-enrollment pension scheme aimed at increasing retirement savings among workers. This scheme will begin enrolling employees in 2024, with contributions starting in January 2025. The auto-enrollment system will apply to employees aged 23 to 60 who earn over €20,000 annually and are not already in an occupational pension […]
HSP Group Joins the BDO Alliance USA Community
HSP Group Joins the BDO Alliance USA Community HSP Group Joins the BDO Alliance USA Community Tampa, FL – HSP Group is excited to announce it is now providing services to clients and independent members of the BDO Alliance USA, as part of its Vendor Marketing Program. As part of this program, HSP Group will be able […]
Understanding GDPR and Its Impact on Global Expansion
As businesses expand globally, understanding and complying with data protection regulations becomes crucial. The General Data Protection Regulation (GDPR) data privacy law, which has been in effect since 2018, sets the standard for data protection laws worldwide, with strict guidelines and significant penalties for non-compliance. This blog explores the key aspects of GDPR and how […]
Project Consulting Solutions for Implementing Global Payroll
In today’s interconnected world, expanding businesses face the intricate task of managing payroll across multiple countries. Global payroll implementation involves establishing a seamless system that ensures employees worldwide are paid accurately and on time while complying with varying local regulations. This process can be daunting, but the right project consulting solutions can make it fast, […]
Singapore’s Latest Employment Law Changes Effect on EoR
The Singapore Ministry of Manpower (MOM) has recently updated its regulations, prohibiting non-Singapore entities from using an Employer of Record (EOR) to sponsor work permits for foreign workers in Singapore. This change has significant implications for U.S. and other non-Singaporean entities looking to engage foreign nationals in Singapore. Under the new rules, entities without a […]
The State of 2024 Global Expansion Service Providers: Pros and Cons
Getting ready to expand your company into another country is exciting but can also be overwhelming. A key part of your ability to manage your global expansion successfully is how you choose and manage the different services—from employer of record (EoR) or entity set-up to HR and accounting—that you’ll need to start a business in […]
Cross-Border Carve-Outs: Essential Tax Implications
Part Three: Tax Implications To conclude our three-part series on cross-border carve-outs, our experts delve into tax-related activities associated with this specific type of business transaction. From exploring the complexities of setting up a local bank account overseas to debunking the common misconceptions of tax compliance, this final blog will wrap up the series with […]
Key Roles of Communication and Compliance in Cross-Border Carve-outs
Part two: Communication & Compliance Considerations
Data Security: Zellis Breach and Ensuring Regulatory Compliance
Data breaches once again made the headlines last week. In late May, we saw the GDPR rule-breaking of Meta (Facebook), leading to the imposition of a €1.2 billion fine (subject to an appeal), and now there is a potentially disastrous breach of private information held by companies in the UK (United Kingdom). To date, several major household […]
Meta/Facebook fined $1.3 Billion for Breaches of the GDPR
2 Key Steps to Take to Avoiding a Similar Fate The complications of avoiding breaches relating to the European Union GDPR were again laid bare this week. Meta’s platform Facebook received a record-breaking fine totaling $1.3 billion (1.2 billion EURO) imposed this week by Ireland’s Data Protection regulator, sending shockwaves around global business circles. Regulators […]
GateWay: Your Global Growth Management Solution
Are you interested in finding out more about our new global expansion management platform, GateWay? With so many features to explore and an endless number of benefits for customers, Sam Sengupta, VP, Product, at HSP Group, further outlined some of the key takeaways of the software to give you a better understanding of what to […]
Everything you Need to Know about Legal Entity Rationalization
If you’re currently in a position where you are reviewing your business performance, especially if you are operating internationally, and you’re noticing unnecessary expenditures and drains on resources, then legal entity rationalization may be a profitable and effective solution for you moving forwards. To give you further insight into this area of business management, we’ve […]
Managing Cross Border Compliance Risks | Part 2
Following on from part 1, Emine Constantin, one of our experts at HSP, has discussed some of the core aspects of cross border compliance, and how to efficiently and effectively manage these areas to keep you trading without unnecessary complications.
Managing Cross Border Compliance Risks | Part 1
When expanding your business into different countries, there are many areas to consider, and cross border compliance is one of the most important things to get right, or else you may be faced with hefty fines and penalties that can halt your global business expansion journey. With varying rules and regulations in each country, keeping […]
Every Effective Payroll Strategy Needs These 3 Features
Whether hiring overseas for the first time or scaling your global presence, the right approach can eliminate common payroll challenges Payroll processing involves a lot more than meets the eye. Multiplied by several countries and different vendors, it quickly becomes clear how important a cohesive payroll strategy is to effective management. We have addressed the […]
Are You Absolutely Sure Your Payroll Is GDPR Compliant?
The EU/UK GDPR (universally accepted worldwide as the gold standard for data protection and privacy) demands a lot more than many US companies realize. It may sound like an exaggeration, but it’s a fact: no company can handle GDPR compliance without specialist assistance. The EU’s most significant legislation leaves no room for error. You’re either […]
Using Email to Manage Global Payroll Data? Don’t.
Lack of secure communication is common, elevating the risk of both breaches and noncompliance when managing payrolls across the globe For all the news about data breaches and million-dollar fines for data privacy violations, a surprisingly large number of companies still send emails that include Personal Identifiable Information (PII). In some cases, the practice may […]
Conquer the Biggest Challenges of Global HR Administration
International expansion is like an equation with countless and growing variables. Although the addition of each jurisdiction and employee shows your organization is doing well, growth tends to make global human resource administration more complex.
2023 Countdown: 6 Global Operations Compliance Questions
Preparing now by identifying and rectifying potential issues is important to your success in the coming year As we come to the end of the compliance year, January can be a challenging time for leaders of global operations. These are six critical areas related to global operations compliance that you want to make sure you […]
GDPR explained for Global Businesses
What is GDPR? The General Data Protection Regulation 2016/679 (GDPR) is a directive under European Union (EU) law addressing data protection and privacy in the EU and the wider European Economic Area (EEA) linking the EU member states with the three European Free Trade Association states (Iceland, Liechtenstein, and Norway), as well as the transfer […]