Velocity Global launches service to help employers with equity packages
The new service helps employers follow country regulations, international tax laws and other rules.
Velocity Global is a Denver-based company that assists businesses in setting up international offices and hiring foreign workers. It wants to make it easier for employers to offer employees equity compensation. Employers can use the new Global Equity Program to comply with tax laws in other countries and international regulations. It's extremely complex. Different countries have different reporting and laws. These vary based on the time an equity award is taxed and how it's issued. He stated, "Our goal should be that there shouldn't be any surprise to anyone involved." He believes equity compensation will continue to be a strong incentive, despite the recent mass layoffs in tech. Birch stated that "We expect this will continue to grow, particularly in these economically uncertain times." Velocity Global has a dedicated team for its Global Equity Program. They will be available to answer any questions clients may have about equity packages. Birch stated that Velocity Global worked on equity packages with clients prior to the launch. It is ready to assist companies in complying with equity compensation regulations in about 80% of its clients' countries. Velocity Global raised $400m in 2022. The company stated that it would use the money to expand its workforce and provide more services. Velocity Global was valued at more than $1 billion and worked with over 1,200 clients.