Definitely a cost efficient option. And gives you more range to find the skillset you need. With all the tool solidified during COVID there's no reason not to work out. Just pay attention to timezone differences and possible data/security restrictions if this team will access client data.

Agree on at least some hours for everyone to be online. For instance, I work with developers in India a lot. They are 10h ahead. I need to start very early and they need to stay late for us to catch up in my EST morning.

Building a remote or distributed software development team involves several key steps:

- Define Clear Goals and Roles: Establish clear objectives and define the roles and responsibilities of each team member.
- Hire the Right Talent: Look for skilled professionals who have experience working remotely and can self-manage effectively.
- Use the Right Tools: Implement communication and project management tools like Slack, Zoom, and Jira to facilitate collaboration.
- Foster a Collaborative Culture: Encourage open communication and regular check-ins to keep everyone aligned and motivated.
- Ensure Robust Onboarding: Provide thorough onboarding to integrate new members smoothly into the team.

For more detailed insights, I recommend reading this article: https://www.cleveroad.com/blog/software-development-team/. It offers comprehensive advice on assembling and managing a remote software development team.