You're part of an organization that wants to expand internationally. You want access to a larger customer base, expand your company mission, acquire an international entity, or you want to tap into the ever-expanding global talent pool. But how?
Luckily, the answer to that question is simple: Employer of Record (“EOR”) Services.
Usually, expanding internationally means ensuring that all your tax, insurance, banking, entity formation, and other local infrastructure is in place. That costs a lot of time and money, not to mention the steep learning curve to get up to speed with in-country expertise and compliance. Luckily, the right EOR services company that has already done all that hard work so that you don't have to.
As the legally recognized Employer of Record, the EOR company will allow you to expand into new global markets and employ talented people without having to set up an entity, or become mired in complex regulatory quicksand. The EOR company guides you every step of the way, from contracts to onboarding, to local benefits, payroll and employment laws, to termination. Your EOR partner takes on all of the legal liabilities for complying with local employment and payroll laws while you get to enjoy awesome employees all over the world.
How does that work, you ask? Simply, the EOR serves as an intermediary between you and the employee. The EOR hires the employee on their in-country entity and manages all employment-related compliance, while your company manages the employee's day-to-day activity. An EOR can do even more, too, such as:
There are many benefits you can take advantage of by using an EOR services company, especially when you're considering doing business in foreign countries where the cost, complexity, and compliance risk might be prohibitive.
The EOR company already has a legal entity in place that can handle all of your payroll, employment, tax and immigration requirements in-country. Eventually, once you've established a local workforce and your company is comfortable with everything that doing business entails in-country, the right EOR partner can assist your company in establishing your own entity while continuing to provide payroll, benefits and compliance support in the background.
An EOR can onboard and manage your contractors on your behalf (if allowed in-country) and maintain all compliance with local regulations and remove compliance risk away from your company.
The EOR company will allow you to expand into new global markets and employ talented people without having to set up an entity, or become mired in complex regulatory quicksand.
Thinking of expanding your business internationally and want more information about EOR? One of Listo Global's experienced Global Business Advisors will happily serve as your guide to global expansion. Reach out to firstname.lastname@example.org.