Companies look at different ways of structuring their business when faced with international expansion. Most companies either send their employees to manage operations in the new country, or set up an independent agency through which to experience growth (e.g. affiliates, agencies, etc.). For specialized and high-end services, some companies look at acquiring a local company or establishing a joint venture to share profits and control.
With economic recession, companies are closing down their overseas branches and offices. They are doing this in order to save money and cut costs. However, instead of closing, these companies are choosing to transfer their foreign branch to a global PEO. Transferring to a PEO will be a lot cheaper, faster and easier than maintaining multiple subsidiary. Global PEOs like ExroAsia offers their low cost services to companies so that they can transfer their foreign company to a PEO.
We recruit, hire, and onboard your team in your chosen market of expansion, and act as your Employer of Record to manage all aspects of their employment, including: – recruiting, hiring, and onboarding – creating and managing their employment contract(s) – managing their payroll, tax, and benefits – answering all types of work-related questions – ensuring regulatory compliance, including through international labor law, immigration and visa requirements.
A global PEO such as ExroAsia can manage your entire business from recruitment to taxation. By outsourcing your HRM, you can cut down on your operational costs and focus more on growing your business. Further, by engaging a PEO, you do not have to worry about complying with complex labor laws or tax regulations.
Our global PEO & EOR solution has helped many entities from different industries who expanded their operations in Asia.