Anyone looking to expand to Hong Kong and establish a presence in a foreign jurisdiction would know that it’s 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 wanting to expand to Hong Kong 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 Hong Kong 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 Hong Kong we can hire your chosen staff into our own local entity, fast-tracking your market entry and enabling you to field staff in Hong Kong 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.
Key features of our Hong Kong employment solutions :
- Fast market entry (onboard staff within days, guided by experienced professionals)
- Compliance (avoid local foreign exposure, services provided by local experts)
- Holistic Solution (end to end support, benefitting your company and your staff)
- Streamlined Process (reduces the cost, resources required to maintain a presence)
- Scalable (from a single employee to large teams, with fixed, easily forecast fees)
So who uses our PEO / EOR solutions to expand to Hong Kong?
They may be companies who are:
- Testing the market
- Moving independent contractors to more compliant solutions
- Post-merger restructuring
- Hiring staff for short or fixed term
- Streamlining operations across multiple countries
- Fast-tracking market entry
- Making the first step before entity establishment
- Seeking to reduce overheads
- Dispatching staff to their client’s location
Our Services
- Structuring Advisory
- Human Capital Management
- Accounting and Payroll
- Tax Compliance Services
- Establishment of Local Entities
- Ad Hoc Consulting
Featured photo by Dan Freeman on Unsplash
