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Slide 1 FastFacts Feature Presentation April 30, 2009 We are using audio during this session, so please dial in to our conference line… Phone number: 877-468-2134.

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Presentation on theme: "Slide 1 FastFacts Feature Presentation April 30, 2009 We are using audio during this session, so please dial in to our conference line… Phone number: 877-468-2134."— Presentation transcript:

1 Slide 1 FastFacts Feature Presentation April 30, 2009 We are using audio during this session, so please dial in to our conference line… Phone number: Participant code: © 2009 The Johns Hopkins University. All rights reserved.

2 Slide 2 Todays Topic Well be taking a look at… Information you need to know before you begin a project overseas.

3 Slide 3 Todays Presenter Sunanda Holmes Associate Director of the Office of International Business Compliance, in the JHU Controllers Office

4 Slide 4 Session Segments Presentation Sunanda will provide an overview of what you need to know before you begin a project in a foreign country. During Sunandas presentation, your phone will be muted. Q&A After the presentation, well hold a Q&A session. Well open up the phone lines, and youll be able to ask questions. Sunanda will answer as many of your questions as time allows.

5 Slide 5 Contact Us If you would like to submit a question during the presentation or if youre having technical difficulties, you can us at: You can also send us an instant message! GoogleTalk – AOL Instant Messenger – HopkinsFastFacts MSN –

6 Slide 6 Survey At the end of this FastFacts session, well ask you to complete a short survey. Your honest comments will help us to enhance and improve future FastFacts sessions.

7 Slide 7 Office of International Business Compliance (OIBC)

8 Slide 8 Agenda Introduce the Office of International Business Compliance (OIBC) Discuss 10 important considerations and available resources

9 Slide 9 What is the OIBC?

10 Slide 10 OIBC Overview Mission: To create a framework that supports the universitys global vision. Goal: To provide a comprehensive and centralized approach for faculty and staff to comply with the U.S. and foreign countries legal and regulatory requirements.

11 Slide 11 Global Presence

12 Slide Things to Know Before You Start a Program Abroad

13 Slide 13 #1 – Starting an International Program Why should I contact OIBC when submitting a proposal for international activities? OIBC will assist you in determining if the university is already working in the country or region. You can benefit from others experiences. Doing Business Guides are a valuable resource.

14 Slide 14 #2 – Retaining Legal Counsel Do I need to retain legal counsel in a foreign country? OIBC and the JHU Office of General Counsel will determine if a local lawyer is necessary. If necessary, OIBC and OGC will help you retain local counsel. Schools or operating units of the university are not permitted to independently retain local legal counsel.

15 Slide 15 #3 – Foreign Legal Presence What is registration? Legal and strategic decision Formalizes universitys presence in a foreign country Types of registration Liaison office Branch office Local entity (JHU controlled) Alternatives to foreign registration Partnerships Memorandums of Understanding (MOUs) NOTE: Failure to comply with foreign corporate, labor and tax laws may lead to severe penalties, including fines and imprisonment.

16 Slide 16 #4 – Banking Considerations Do I need a foreign bank account? Local registration is required. Obligates reporting and compliance under US and foreign laws. JHU departments must adhere to foreign banking guidelines. Contact the JHU Office of the Treasurer Guidelines are available at

17 Slide 17 #5 – Human Resources How do I handle staffing overseas? Overseas hiring Employees US expats (US citizens working abroad) TCNs (Third Country Nationals) HCNs (Host Country Nationals) Independent contractors Work permits/visas

18 Slide 18 #5 – Human Resources (contd) HR policies Local labor laws Local employment laws Customs Employment taxes Income and social security taxes Local payroll administration QuickBooks Third party payers Employment agencies

19 Slide 19 #6 – Power of Attorney What is a Power of Attorney (POA)? Establishes local authority for signing documents related to registration, banking, and limited types of contracts on behalf of the university, but excluding capital or financing leases and real estate leases. Requesting a POA? Contact OIBC to initiate your request. OIBC will draft the necessary paperwork and work with the JHU Office of General Counsel.

20 Slide 20 #7 – Procurement How do I purchase items overseas? Items must be purchased in accordance with JHU procurement policies and sponsor requirements. $5,000 threshold Set up inventory tracking system to keep records of all furniture, equipment and non-expendable property purchased with value over $500. Any loss, damage, or theft to non-expendable property which significantly reduces its functionality or operating life must be documented and reported to staff in Baltimore.

21 Slide 21 #8 – Legal Implications U.S. laws Foreign Corrupt Practices Act of 1977 (FCPA) (15 U.S.C. §§ 78dd-1, et seq.) Office of Foreign Assets Control (OFAC) Specially Designated Nationals (SDN) list tml Foreign/host countrys laws

22 Slide 22 #9 – Tax Implications Is the university tax-exempt in foreign countries? The universitys tax-exempt status Tax treaties Bilateral agreements Other agreements Individual Taxes Income tax Social Security Taxes Corporate taxes Value Added Taxes (VAT) Income taxes

23 Slide 23 #10 – Risk Management Insurance needs: Property, liability and auto insurance International SOS &CFTOKEN= &CFTOKEN= Audits and oversight Field offices Sub-recipients

24 Slide 24 Conclusion OIBC is here for you! There are resources at your fingertips: -Doing Business Guides are available online -Detailed FAQs Phone Number:

25 Slide 25 Q&A Were going to open the phone lines now! There will be a slight pause, and then a recorded voice will provide instructions on how to ask questions over this conference call line. Well be answering questions in the order that we receive them. Well also be answering the questions that were ed to us during the presentation. If theres a question that we cant answer, well do some research after this session, and then the answer to all participants.

26 Slide 26 Thank You! Thank you for participating! We would love to hear from you. Are there certain topics that you would like us to cover in future FastFacts sessions? Would you like to be a FastFacts presenter? Please us at:

27 Slide 27 Survey Before we close, please take the time to complete a short survey. Your feedback will help us as we plan future FastFacts sessions. Click this link to access the survey… Thanks again!

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