This article presents a systematic review of the research literature on transnational entrepreneurship, addressing perspectives on the topic from different academic fields and providing an overall assessment of the main theoretical and empirical advances made to date, including research trends and gaps. To achieve this, we identified and revised the most relevant literature on transnational entrepreneurship published between 1995 and 2016. The results suggest that although institutions play a vital role for transnational entrepreneurs, their networks, human capital and motivations are crucial, since these resources can help them overcome structural constraints. We also found that most articles reporting on qualitative case studies focused on particular communities, suggesting there is a need for more comparative studies. We conclude that it is imperative to establish a more developed theoretical framework for the study of transnational entrepreneurship that would broaden scientific knowledge by integrating diverse disciplinary perspectives covering multiple fields of study. © 2019 Inderscience Enterprises Ltd.