We want to eventually use ai for 1) smart contracts. and 2) payment route optimization and FX. But first, we need to live the whole process, from manual to automated, to intelligent and evolving.
Thank you very much for the valuable feedback. Noted. You have some strong arguments and points that we will definitely consider in our model. Much appreciated.
We have special agreements with local governments that are interested in exporting technical talent. Even though we are not head hunters we can help in that regard. You are right, there are a lot of people that just avoid taxes, however this is a huge liability for companies and some have already realized this. We want to help out both parties to achieve high levels of compliance and still have the economic benefit.
Average software developer compensation in the US can be around 100k to 120k . In latin america you can get excellent top tier tech talent for 30k-40k.
However opening up an LLC and a bank account is not that easy, when you are from latin america, and receiving the money in a US bank account implies you have to report to the IRS.
The company has direct communication with the contractor. The contractor has incentives because we don't commission on their payment as upwork and other platforms. We have several features to submit time sheets and proof of work. Thanks!
I appreciate your feedback a lot. It's challenging comments like these that make us grow. Will study the topic more and find a better solution. :). Thank you very much.
You are 100% right. We have agreements with local governments and help them out to ensure contractor taxes are up do date always and everything is done legally.
We offer a standard handling of contractor agreements, in which our database knows exactly what the regulation for each country is, and what the corresponding gross up has to be in order for the contractor to net the desired income. We assist contractors in their tax residence, to optimize their payouts to government, while keeping everything 100% compliant so the company is not as risk. Whenever regulations get too complex for independent contractos in a country, we offer plug and play, which is an outsourcing of the contractor, and Ontop hires them.
Hey Gaby. We are working very hard to make our service available in Venezuela. Actually we are already working with a couple of contractors there. And Argentina is another difficult jurisdiction that we are already solving for.