Finances

If you need to access, transfer, or spend money across borders, you’ll need to account for certain legal, tax, and security implications. Your options for making payments and purchases abroad may be different than those available to you in the U.S. In collaboration with the Office of Treasury Management (OTM), Accounts Payable (AP), and your School's Finance Office, we can help advise you on the best options to transmit or transport funds as well as the banking requirements and appropriate financial controls.

Payments & Banking

Harvard is only registered as a tax-exempt institution in the U.S. Although taxes vary by country, common taxes abroad include those related to purchasing good and services, shipping or hand carrying items across borders, and employing staff. We can help you identify your project’s tax requirements so that you can budget appropriately and avoid costly legal and financial penalties for unintentional non-payment.

Taxes

Insurance is another line item to include in your budgeting. The most common insurance requirements abroad range from travel, health, and evacuation insurance to property (digital and physical), liability, and workers compensation. Even if you have a policy to cover claims in the U.S., it may not apply under another country’s laws, and you’ll need to purchase a local policy to protect you from financial and legal liability. Along with Risk Management & Audit Services (RMAS), we can help you determine how these requirements may apply to your travel, project, and budget.

Insurance

If you’re planning to seek funding through international donors or grants, our separate legal entity may be an option. Harvard Global Research and Support Services, Inc. (“Harvard Global”) offers a fee-for-service suite of operational capabilities, including international gift administration and international grant administration.

Harvard Global is registered to conduct business in certain countries and, depending on our registration status and the laws of each country, can help Harvard-affiliated departments to access, spend, and/or remit international funds in support of your project’s research and education activities.

Gift Administration

Grant Administration