The Philippines has always been an attractive market for international companies, largely due to its longstanding alliance with the United States. But in 2019, the island nation passed new legislation that enhanced its appeal to foreign investors. The Republic Act (RA), also referred to as the Revised Corporation Code, makes it easier for global businesses to register in the Philippines by removing multiple restrictions on company size and capital investment. The RA also incentivizes businesses to hire Filipino citizens. Acumen’s Express Global Employment solution provides an ideal interim resource for global businesses who want to get a foothold in the Philippines prior to incorporation. Learn how EGE helped our client to set up early operations and onboard an employee without incorporation in the country.
- Our client is an International money transfer company in the process of developing its Asian presence. Their first target market was the Philippines. The company’s Singapore division approached Acumen International with an urgent need to employ a single Filipino citizen, who had already been selected. Acumen had been highly recommended to the company by another satisfied client who previously leveraged our services. The company was eager to launch their platform quickly, to begin generating revenue from their services.
The employee in question would be hired as the National Sales Manager for the Philippines. Our client needed a ready solution to legally hire and payroll their sales manager that would also facilitate a smooth transfer, once the company had grown sufficiently to establish their own legal entity in the Philippines.
Not only does Acumen’s Express Global Employment solution help companies resolve their urgent international hiring challenges. Our solid global employment solution gives an opportunity to skip the grueling hassle and red tape associated with business liquidation, a process even more challenging than business setup. In the Philippines, companies who terminate their operations, whether by liquidation, forfeiture or under other circumstance, are nevertheless regarded as a corporate body for an additional three years, for purposes of settling outstanding lawsuits. This means that after dissolution, a company in the Philippines is not allowed to distribute any of its assets or property until all debts and liabilities have been settled. Due to the Philippines 3-year provision, businesses often want to test the waters before formal company setup. Acumen’s Express Global Employment solution helps companies like our client to hire employees and start generating revenue before fully committing to a formal legal entity setup. At the same time, the global employment solution gives companies time to decide whether setup in the Philippines is the best choice for them. To avoid making crucial and costly mistakes, companies who want to expand globally should explore the in-country info on our website to learn about potential legal pitfalls in their target countries.
We offered our client an interim solution via Express Global Employment that completely satisfied the company’s needs. EGE was designed specifically to meet the urgent global hiring needs of expanding global businesses. No matter how many employees you need or the number of countries you want to target, we can onboard your foreign talent within 72 hours. Within a matter of days, we provided our client with:
- A legally compliant employment agreement contract.
- All mandatory documents for in-country express employment.
- Employment of the sales manager by Acumen, on the client’s behalf.
- A capacity to provide a potential performance-based annual bonus for the employee.
Thanks to our Express Global Employment solution, the sales manager was ready to start working almost immediately. The company lost no time in getting their operations underway, and they did not have to wait to incorporate in the Philippines to onboard their first employee. The solution gave them time to focus on the key business development tasks.
EGE Provides a Ready Solution for Global Employment in 190 countries
Today, our client is fully satisfied with our services and plans to officially set up a legal entity in the Philippines in the near future. Our solid global employment solution will make it easy for them to transfer their employees smoothly from Acumen’s payroll to their own, once their business is incorporated. If you have an urgent global hiring need, visit our website to read more of our success stories, and learn how Acumen International can help your business expand in your country of choice with minimal risk and hassle. Our team of global employment experts is ready to consult with you – let’s talk!
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