Establishing a presence in a foreign jurisdiction is a significant undertaking. If done correctly, it can open up immense opportunities and take your company to the next level. If poorly strategized or imperfectly implemented, it can drain resources, damage your brand, and potentially put your entire organization at risk.
For more than two decades the Eos team has been enabling companies to achieve fast, efficient, and sustainable expansion into Asia.
Many companies entering Vietnam market think first of entity establishment. We are happy to support this step, but it may not be the best way forward for your business, at least at first. Why ?
- Time The time it takes to fully investigate the costs, processes, and tax liabilities involved in the establishment and ongoing financial management of a foreign subsidiary can lead to delay in implementation. This can lose you the initiative in time-sensitive business.
- Compliance Risk Establishing an entity in a foreign country exposes you to unfamiliar processes and legislation – tax, reporting periods, labor laws, etc may differ significantly from your home jurisdiction. Mistakes can cost your organization financially, and reputationally.
- Resource Drain The investment required to hire the local tax, payroll, immigration and other specialists, and back-office staff necessary to run a remote subsidiary is significant. Overcoming the language, culture, and time zone obstacles when working in Vietnam make it all harder. The management needed to overcome all of this can divert critical resources and focus away from your core business objectives.
Eos outsourced employment solutions take away these headaches. Acting as your Employer of Record ( EOR ) in Vietnam we can hire your chosen staff into our own local entity, fast-tracking your market entry and enabling you to field staff in Vietnam within days. This business model is sometimes known as PEO, ( Professional Employer Organization ), or GEO ( Global Employer Organization).
You maintain control of the employees` activities and manage their day to day work as usual. Eos take care of their salaries, and local compliance – effectively serving as your local payroll and HR team.
