Hi Peter,
Both really good answers to your questions above but maybe it would be good to give you some further pointing in the right direction. Perhaps you could answer the questions below and I can give you my personal opinion on which method would be best:
-
will you be putting an equal amount of marketing (content, PR, etc.) into the Spanish version for example compared with English?
-
are you able to offer fully localised service eg, Spanish customer service, Spanish sales team etc.?
-
is your company well-known globally?
It's important not to also forget that another option is using ccTLDs (eg, .co.uk, .com.au). These give the highest signal to search engines about the country being targeted and also importantly make you look more "local" which can do wonders for increasing conversion rate in countries where your company is not well-known.