If market research shows you the opportunity to expand your company operations to a new country, you have to act quickly. Other businesses keep their eyes on the same opportunities and may move faster. But creating a new legal entity takes time and has significant costs. This is where Olinio’s Employer of Records service can help you.
What Is an Employer of Records?
The EOR is your company’s legal representative for employment purposes in another country. Employer of record companies like Olinio will handle all compliance aspects related to hiring people in that country, including:
- Preparing employment contracts for employees and registering them with labour and tax authorities
- Preparing payroll
- Withholding taxes and social security contributions from salary
- Applying the latest labour legislation
- Ensuring that your company is compliant with local labour laws.
All these aspects require in-depth knowledge of the labour legislation in the country – not an easy feat for a company just starting to grow internationally.
Employer of Record Services Go Beyond Legal Compliance
The Olinio team always goes one step further in our efforts to help your company establish a successful business venture abroad. We will effectively handle the entire effort of staffing your new office. This includes:
- Studying the labour market to learn the average salary for each position you need to fill in
- Creating job ads that will attract top talents, adapting the wording and benefits package to their expectations
- Conducting interviews and selecting the best candidates
- Preparing the job offer and conducting the onboarding process for the successful applicants.
Thus, within a few weeks, you can have a fully functional office, ready to generate revenues and help you grow your business in your country of choice.
Benefits of Olinio’s Employer of Record Services for Your Company
Let us now explain why hiring EOR services is preferable to working on your own to establish a legal entity in a foreign country.
1. A Quick and Effective Process
The Olinio team has extensive expertise in setting up representative offices in other countries. We know all their relevant labour laws and make sure that everything is 100% legal and compliant.
Within a few weeks, your new office can start running and serving clients.
2. A Cost-Effective Method
Establishing a branch office abroad can be expensive if you incorporate a legal entity on your own. You will have to hire law firms and other local specialists and your costs will go up very quickly.
By contrast, employer of records companies charge a fixed fee for establishing your office.
3. A Great Solution to Scale Up and Down Your New Office
Choosing EOR services is the best option for dynamic companies. If you want to stay flexible and able to upscale or downsize your foreign office as quickly as possible, let an EOR manage your staff.
4. Constant Compliance with Local Laws
Labour and taxation laws can change quickly, prompted both by EU regulations and local economic conditions. Failure to implement new changes on time can lead to costly penalties.
The employer of records is constantly up to date with all laws and regulations in force and will enforce them as soon as they become applicable.
Eliminate legal risks, unnecessary costs and time delays – choose Olinio as your employer of record to expand your business in a new country! Contact us today!