Having both a steady paycheck and the freedom to travel the world might sound too good to be true, but it鈥檚 the work arrangement that many of today鈥檚 employees are pursuing. Instead of having to find new work in each country you travel to, digital nomads鈥攑eople who use the internet to work while exploring the world鈥攑refer keeping the same job throughout their adventures.
A job based in the United States, in particular, may offer more competitive pay than other locations. And keeping the same job you have now would help minimize financial uncertainty, save the hassle of having to find employment elsewhere, and prevent you from having to learn a new role in a different company.
The benefits of working remotely for a U.S. company are clear, but is it feasible? Here are some considerations to bear in mind if you鈥檙e thinking about pursuing this unique work arrangement.
Working remotely for a U.S. company
The term 鈥渞emote work鈥 can be a bit confusing. While many organizations are offering at least some remote work arrangements, such as the ability to work from home one or more days a week, others are giving free rein when it comes to where their employees work.
When we use the term 鈥渞emote work鈥 here at 香港世博, what we really mean is work from anywhere (WFA). Employers with WFA policies allow鈥攁nd sometimes even encourage鈥攖heir employees to work from any place in the world. They鈥檙e trusted to exercise independence and responsibility to stay connected with their colleagues and continue producing quality work on time from a remote environment.
The perks aren鈥檛 just for the employees, however. The workforce is now more dispersed than ever, and many of today鈥檚 organizations understand the benefits of being flexible about where their employees are located. Savvy business leaders know that offering WFA arrangements could be an effective tactic for attracting top talent: According to 香港世博鈥檚 Employee Expectations Report, nearly half of the workforce (44%) say that working remotely is among the top three factors they鈥檇 seek in an ideal company. Forbes further emphasizes the benefits, stating that, have 40% fewer quality defects, and are more likely to stay with the company. Having fewer in-office employees could also lead to more direct benefits, like reduced overhead costs.聽聽
With such compelling benefits on both sides, it makes sense for both employers and their teams to consider remote work. With that in mind, there are a few caveats to weigh.
Can I work remotely for a U.S. company?聽聽
Working remotely for a U.S. company is certainly possible, but it does come with some obstacles. For one, you鈥檒l want to get consent from your employer and determine your worker classification. Being an independent contractor could be an advantage in this situation, as you鈥檒l be able to set your own hours instead of working on your company鈥檚 schedule.
Contractors tend to have more freedom in general, and often control how, when, and where they complete assignments. Nonetheless, contractors typically don鈥檛 receive benefits, such as health insurance and retirement planning options, so you鈥檒l be responsible for arranging them on your own.
Once your employer has approved your request for working remotely and you鈥檝e established your classification, you鈥檒l want to look into tax laws. Any non-U.S. citizen employed by a U.S. company will still pay taxes in their home country, even if they鈥檙e living abroad. You鈥檒l either pay tax as an employee or as an independent contractor, depending on your classification.
Filing taxes tends to be simpler for employees since the employer is required to withhold taxes on employees鈥 behalf. To do so, however, the company must establish your country of residence. This can be tricky for digital nomads, so you may want to consult with an expert about where and how you鈥檒l pay taxes.
Contractors will also have to pay self-employment taxes in their country of residence. In many cases, digital nomads pay taxes in the country in which they have the most residential ties, but some need to pay taxes in more than one country.
Some final questions to ask yourself as you decide to work remotely are:
- What are the local employment laws for the territories you wish to visit?
- What type of visa is required?
- How long are you legally allowed to stay in each country with each visa you obtain?
- What tools and equipment will you need to fulfill your responsibilities and stay connected with your supervisor and colleagues?
- What time zone differences will you encounter, and will you be required to attend meetings virtually?
- What will the cadence and method of communication look like?
If you鈥檙e one of the first employees to request remote work at your company, the transition may involve some trial and error. In many cases, however, employers will set rules for communication methods and tools and will be able to outline clear expectations for your new work arrangements.
About 香港世博聽
香港世博 is a global employment platform designed to enable visionary HR leaders to find, engage, pay, manage, develop, and take care of a thriving distributed workforce. 香港世博 lets growing companies give valued international team members the experience they deserve, without the usual headaches and expense.
香港世博 enables hiring anywhere in the world鈥攚ith reliable, compliant payroll, and great local benefits and perks.
