Expand your business overseas now with our Employer on Record (EOR) Services.
If your company plans to expand into Asia, you will need to find a cost-effective and flexible solution for employment. Whether you plan to send existing staff from your home office or hire local staff, almost all countries will require you to set up a legal entity and manage payroll within the host country.
In order to jump start their foreign expansion several companies are turning to our EOR solutions to overcome issues regarding regulatory compliance and manage often complicated employment laws in international markets. InterLoop can be your partner in global mobility. This service is an excellent resource for hiring your employees in the Asia Pacific.
For many companies, the Asian market offers significant business opportunities. However, for those companies located in the United States or Europe, their distances, time zones, and different legal requirements can be a challenge. We can solve your problem by offering our EOR service to your company from our ASEAN hub, giving you a unique strategic advantage when entering these rich markets.
Employer of Record Definition
An employer of record (EOR) is a service provider that hires employees who will be on their payroll but work for other companies.
For example, you have a company in the United States of America. However, you want to expand your business to Southeast Asia. Employer of record services enables you to employ people without establishing a legal entity there. Employer of record also works if you do not set a goal to conduct business in Southeast Asia and want to outsource certain processes such as customer service or IT support.
Among other payroll functions, EOR will handle:
- Employment contracts
- Payroll services
- Tax filing
- Social security
Payroll service is an essential part of the business. But it takes a lot of time and money to look after it properly. As a result, companies of many different sizes and industries outsource their payroll requirements to an Employer of Record (EOR). These organizations manage accounting, taxation, and employee-related matters such as social security contributions and employment insurance, in addition to other tasks. Hiring an EOR can help you maximize the efficiency of your organization and prevent wasting valuable time and money.
Why you should use Employer of Record Services
One of the main advantages you get from using employer of record is a significant cost reduction, whether you hire employees from other companies in your own country or choose to hire employees from the host country.
Hiring staff from professional organizations will increase your efficiency, cost and benefit ratio. The employer of record is a recruiting specialist who has experience with experts in various fields. Many companies choose to outsource employees from developing countries such as Indonesia, Vietnam, or Thailand, where salaries are much lower.
International expansion and access to new markets
In most Western countries, companies can be registered within days or even within hours. In emerging markets such as Indonesia, Vietnam or Thailand, the time of setting up the company is longer and more difficult.
Employer of record, on the other hand, allows you to begin with conducting business in these markets almost immediately. Furthermore, an employer of record can also grant quicker access to those markets by sponsoring work permits for foreign professionals.
Test the market
Using EOR also helps reduce the risks associated with business expansion. In particular, employers with a work history can test the market and learn that there is a need for your product or service before making any further investments. After gaining enough confidence, you can set up your company with an existing customer base.
Compliance with local laws
Emerging markets are known for many often-confusing regulations, which can sometimes change overnight. Therefore, with an EOR you can slowly gain an understanding of employment and tax laws with no risk of accidently contravening any important regulations.
Focus on your core business
Another privilege of using an employer of record that may not be obvious. First is having a third party manage your employees to help you focus on your core business.
Instead of wasting your time with time and energy staff management – payroll compliance – You will receive an invoice once a month for your employee(s) that the employer of record has taken care of everything. Therefore, you will have more time to focus on your primary activities.
Employer of Record Services
For many years, International companies have been using Employer of Record Service (EOR) to oversee employment and human resource management, labor management, giving them the right to do their core business. This collaborative internship has proven to be very successful in America, and while these companies have grown internationally, they have created similar needs in the international market.
It’s quite easy to determine when your organization might benefit from the EOR agreement to manage contract recruitment. Particularly, if your organization intends to increase the use of contract employees. However, you do not have enough source to handle the tasks that are related to human resources sufficiently. Using the EOR can help to ensure compliance with all necessary regulations. Tax and business concern These are very important for a successful contractor project.
- Payroll and funding processing
- Deposit and file tax
- Employment contract and documents
- Maintaining insurance certificates
- Unemployment insurance
- Labour compensation
- Staff problems
Interloop Solution & Consultancy Employer of Record (EOR) Services in Thailand enable you to expand your business into Thailand quickly and cost-effectively. We hire your staff locally in Thailand and take care of the payroll service and HR administration associated with your headcount so that you can expand your business into Thailand immediately. Taking advantage of talented professionals and sales opportunities in Thailand just got easier.
Please contact us at Interloop Solutions & Consultancy Co.,Ltd. Tel; 097-106-9113 ID Line: @inlps