How to Onboard International Contractors as a US Company
Onboarding international contractors and freelancers for a US company can be a complex process, especially as global regulations get more and more confusing.
Ensuring compliance with legal requirements, managing cross-border payments, and integrating freelancers into your team are critical steps that demand meticulous attention to detail.
This guide will provide you with expert insights and practical tips to streamline the onboarding process, helping you effectively manage and retain top freelance talent from around the globe.
Let’s dive in.
How to Onboard International Contractors
Onboarding your international contractors to Rise is extremely easy and fast. Take a look at how it’s done below:
Step 1: Create a Business Account and Pass KYB
Visit Rise and sign up in minutes for a business account by providing basic company information, such as your business name, address, and contact details.
After registration, you’ll be prompted to complete a verification process to ensure the security and legality of your account, which may involve submitting additional documents or information about your business.
Step 2: Invite and Onboard Your Contractors Compliantly (KYC + AML)
Next, you’ll invite your contractors to join the Rise platform simply by sending them an email.
From there, your contractors will be onboarded quickly and compliantly by going through KYC checks and identity verification.
They will be given a unique Rise ID, a digital wallet address, and will be able to set up their preferred payment methods for withdrawals.
Thanks to our partnership with Sumsub, Rise takes care of all of the following compliance tasks:
ID Verification
Address Verification
Liveness Check and Face Match
AML Screening
Email Verification
Email Risk Scoring
IP Address Analysis
In fact, Rise currently has a 94% approval rate after switching to Sumsub.
Step 3: Have Your Employees Sign Professional Service Agreements
As a part of the onboarding process, Rise generates professional service agreements and statements of work.
This process is easy and compliant for your team members, no matter where they’re located.
Step 4: Fund Your Payroll in FIAT (USD, EUR, GBP, etc.)
You may now easily pay your team members after you’ve onboarded them.
To start paying out to your worldwide team members, just link your bank account and deposit money into your Rise account.
As soon as the money is available, you can use the Rise platform to quickly allocate it to your payroll requirements and set up automated payments in cryptocurrency or fiat currency based on how your payroll is configured.
Your contractor is now free to withdraw their money in the currency of their choice after you have made the payment.
Step 5: Set Up Payment Schedules
You can set up payment schedules on the Rise platform that correspond to your business’s activities, be it weekly, bi-weekly, monthly, or at other intervals.
Because of this flexibility, you can match contractor expectations with your company’s cash flow when it comes to salary distributions.
Additionally, Rise has the option to automate these payments, which will guarantee that your contractors get paid on schedule each and every time without the need for human interaction.
This will lessen the administrative burden and improve the accuracy of your payments.
Step 6: Contractors Withdraw in Their Preferred Currency (Fiat or Crypto)
Now, contractors may take their profits out of their Rise digital wallet and withdraw them in any currency they choose, such as fiat or one of several cryptocurrencies.
With the use of this feature, which enables the easy conversion and transfer of money to their personal accounts without the need for middlemen, a global workforce may have its varied needs met.
Get Started Today
Book a demo and start onboarding and paying contractors with Rise.