Completing compliance for international contractors can feel like an impossible task, especially when your team expands across many different regions.

And it doesn't help that each new regulation introduces a new layer of complexity that must be meticulously managed.

This is why we created this guide to ensure all checkpoints are covered.

Rise provides this guidance, acting as a comprehensive tool to streamline the compliance process for international contractors effectively.

Let's go step-by-step:

How to Complete Compliance for International Contractors

STEP 1: Setting Up Your Business Account

Setting up your account on Rise is straightforward - simply provide some basic documentation to verify your identity and pass Know Your Business (KYB) procedures.

You will be able to link your business bank account information and you will also be provided with a unique crypto wallet, which you can use to fund payroll with cryptocurrency if wanted.

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Your identity will also be verified on-chain and you will be given a verified Rise ID.

Once you finish setup you can begin sending email invitations to your contractors to join the Rise platform.

Reminder: With Rise you can onboard contractors from over 150 countries.

STEP 2: Contractors Complete Automated Onboarding

Since onboarding is completely automated, verification is typically finished in 24 hours or less.

After your contractors have received your invitation, they will now also verify their identity in order to complete Know Your Customer (KYC) procedures and protect your business from any future legal issues.

The Rise platform will also have them sign a professional service agreement and set up their tax information.

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For tax information, we issue 1099s and gather W9/W8-BEN forms directly with the contractors.

And just like your business, all contractors will also be able to link their bank account information and be given a unique crypto wallet address.

Their identities will also be verified on-chain and will be given a Rise ID.

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STEP 3: Start Working and Paying

Now that both your business and your contractors have completed identity verification checks and have filled out tax information, you and your global team can now begin working.

You as the business have the flexibility to fund your payroll in fiat or crypto while your contractors also have the ability to withdraw in the local fiat currency or cryptocurrency of their choice.

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Understanding Compliance Requirements

In order to better understand all of the complex compliance laws that Rise simplifies, you can read through our extensive regional guides below:

Monitoring and Reporting

Rise provides a robust solution for monitoring and reporting compliance for international contractors.

This platform ensures real-time tracking of contractor activities, enhancing transparency and accountability within your organization.

In addition, Rise offers comprehensive reporting tools that consolidate data from various jurisdictions, allowing for seamless evaluation of compliance status.

These tools facilitate the generation of detailed reports that are crucial for internal audits and regulatory submissions.

With Rise, the concepts of "monitoring" and "reporting" are seamlessly integrated to ensure no compliance details are overlooked..

Generating Reports

Rise simplifies the process of generating compliance reports for international contractors by providing an intuitive interface and powerful analytic tools.

  • Customizable Templates: Tailor reports to meet specific compliance requirements and company standards.
  • Real-Time Data: Access up-to-date information for accurate reporting and decision-making.
  • Role-Based Access: Ensure that sensitive data is only accessible to authorized personnel, maintaining data security.
  • Automated Scheduling: Set up automated reporting intervals to consistently meet compliance deadlines.
  • Interactive Dashboards: Utilize visual data representations to easily interpret and share compliance status.

These features combine to make reporting both efficient and compliant with all relevant international regulations.

With Rise's robust reporting capabilities, organizations can create comprehensive reports that are easy to understand and share with stakeholders.

Finally, the platform’s ease of use ensures that even those unfamiliar with complex compliance requirements can generate accurate reports effortlessly.

Get Started Today

See the Rise platform in action by booking a demo with us today.

We look forward to meeting you!

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