I believe this has already been done extensively. It is called "outsourcing". For many companies this didn't end well. One of the reasons may be the following:

I believe this has already been done extensively. It is called "outsourcing". For many companies this didn't end well. One of the reasons may be the following: It is more expensive to control the results than to control the process. Especially in software development, you need quality assurance throughout the whole process, because checking the results or result modules in a blackbox-fashion may lead to catastrophic results. I know some programmers who were always able to produce code that fulfils the spec, after a few corrections. But any small change in the spec, and the whole thing falls apart. Show them their own code a few weeks later, and they won't be able to maintain it. Leave them alone a few months with their code, and they will refuse to work on it anymore, because they literally can't make any sense of it anymore.