- Overview: Georgia
- Global PEO and payroll
- Global HR Compliance
- Expand without a company set up
- Contractor vs. employee: which is better?
Global PEO and Payroll in Georgia
When you consider the ever-growing international market, you may find that your business is poised to benefit from overseas expansion. However, with so many countries to choose from and a vast difference in cultural norms and laws, it can be hard to know where to start.
Given that many potential international locations have different regulations, accounting systems, and tax structures, getting the right help is crucial. The first step is finding the right partner for your business. Here are some basic concepts related to expanding internationally that any business should be familiar with before starting down the road of global expansion.
Acumen’s Global PEO and Payroll solution was designed especially for companies like yours, to smooth the way for quick, easy and risk-free business operations in Georgia, without having to establish a legal business entity.
14 Burdens a Global PEO Can Relieve for Your In-House HR Department
- Global expansion complexity
- Global payroll administration
- Employee benefits administration
- Drafting compliant employment contracts to adhere to local labor and tax regulations in 190 countries
- Lengthy onboarding
- Complex and risky offboarding
- Background checks
- Workforce compensation administration
- Compliance assistance
- Immigration and relocation support for your ex-pat workforce, such as visa sponsorship and securing work permits
- IP right protection
- Convert local contractors into full-time employees
- Business transitions: acquisitions, mergers, close downs
- Need to deal with multiple global employment service providers
What is a Global PEO (Professional Employment Organization)?
A PEO is a third-party employment organization that handles its clients’ day-to-day human capital needs. A PEO can provide companies with various services such as payroll, benefits administration, tax reporting, workers’ compensation insurance, unemployment insurance claims management, employee screening, legal and regulatory compliance assistance, HR consulting, immigration, and other financial services.
How Does a Global PEO Work? What Is the “Co-employment” Model?
Organizations that partner with a Global Professional Employer Organization (PEO) enjoy many benefits. By working with a PEO, businesses can take advantage of a co-employment relationship which can free up time and resources that can be better spent on strategic decision-making and business growth. Global PEOs are responsible for payroll, withholding and paying payroll taxes, managing compensation and benefits coverage, and providing HR compliance guidance.
The global PEO becomes a co-employer of the organization’s employees, and PEO shares the employment responsibilities of the client organization. PEOs assume many administrative and HR compliance tasks that businesses would otherwise have to handle, giving business owners and management teams more time to focus on running their companies.
In addition, Professional Employment Organizations can provide valuable services and expertise that businesses might not be able to access on their own. Using a Global PEO and Payroll solution can be a great way for businesses to improve efficiency, save time and money, and gain access to valuable resources and expertise.
Why Partnering with Global PEO Is a Win-Win Solution For Businesses?
It’s no secret that managing a global workforce is one of the most significant challenges business owners face today. The rewards in owning a business are great. Still, there are also significant risks and liabilities, including paying global employees on time, handling payroll taxes and insurance payments, keeping up with legal requirements, and much more.
For the owner of a growing company who may not have global employment management and HR expertise in-house, it can be very difficult to stay on top of all these responsibilities. That’s where a global professional employer organization (PEO) can help. A global PEO is a company specializing in being an employer or records for its clients. As such, they handle all of the “non-core” HR and administrative international employment activities on behalf of their clients – from payroll to benefits administration to workers’ compensation and immigration support— enabling global PEO clients to focus more time on their organization’s core competency.
A PEO relationship benefits both the client and the global PEO. For the client, a PEO provides access to affordable HR products and services, expertise in key employment functions such as health care compliance and foreign human resources cost evaluation and planning, employee data collection for critical reports and analyses, and tailored tax reporting capabilities. These technology solutions ensure efficiency in onboarding new employees and facilitate HR administration.
5 Benefits of Using GEO (Professional Employer Organisation) Solution
- Facilitated and unified global mobility administration
- Centralized control over the global workforce
- Enhanced international employee and employer compliance
- Advice on favorable tax, benefit, and social security locations
- Reduced permanent establishment exposure risk
Advantages of a Global PEO
1. Reduced time spent on HR procedures, paperwork, and compliance
Outsourcing these operations to a PEO allows more time for strategic decision-making and business growth. Global PEOs are responsible for payroll, withholding and paying payroll taxes, managing compensation and benefits coverage, and providing HR compliance guidance.
2. Employment management cost control in Georgia
Payroll, benefits, taxes, employee leaves, holidays, and social contributions are centrally managed by one trusted global PEO partner at competitive rates. By working with a PEO, businesses can take advantage of a co-employment relationship which can free up time and resources that can be better spent on strategic decision-making and business growth.
3. Expert advice on employment and tax legislation in Georgia
The professionals at your Global PEO can provide expert advice on employment law and dispute resolution. Case studies show that a professional PEO partner can deliver the value of more than $2 million per year per client through efficiency gains and reduced non-compliance risk.
The global PEO becomes a co-employer of the organization’s employees, and PEO shares the employment responsibilities of the client organization. PEOs assume many administrative and HR compliance tasks that businesses would otherwise have to handle, giving business owners and management teams more time to focus on running their companies.
4. A Comprehensive Global Employment Service Portfolio
Global Professional Employment Organisations can provide valuable services, such as immigration support and expertise that businesses might not be able to access independently. Using a Global PEO and Payroll solution can be a great way for businesses to improve efficiency, save time and money, and gain access to valuable resources and expertise.
Our experienced HR professionals are here to help with the many challenges of international expansion. From creating a successful employment strategy to providing guidance on proposed countries’ modes of entry, we can help you get started in your new venture. With our expert advice, you’ll be able to create compliant agreements and policies and ensure a smooth transition for your employees.
Acumen International – Your Single Point of Truth and Global Employment PEO & Payroll Solutions Provider in Georgia
- 100 % compliant, quick, easy market entry. Acumen Global PEO is your local legal entity, helping you reduce the cost and time associated with incorporating.
- Immediate global employment service coverage in 190 countries
- Both a single point of contact and a dedicated account manager for your project for all target countries.
- Compliant and secure global employment operations. We help you adhere to all local laws and regulations in 190 countries
- A single contract for all in-country services (employment, immigration, legal, etc.)
- A single PEO provider assumes full responsibility for your international employees in multiple countries
- Payments are made within the UK or to the UK bank company account
- Fully compliant with standardized procedures and reporting systems
- You can delegate to Acumen Global PEO all HR responsibilities Payroll & benefits administration, background checks, and HR helpdesk
- Standard payroll breakdowns for all target countries
- As soon as we receive your request for a project in any country, we will send you a payroll breakdown and offer within two working hours
- Full 100% fee money-back guarantee for the employee or contractor payment delays.
- Tailored and 100% compliant employment contract drafts
- With Acumen in your corner, you can quickly and easily onboard and compensate your employees without risk of legal repercussions
- Acumen Global PEO protects your company’s Intellectual Property rights.
Acumen International is here to help, from payroll and tax management to social security disbursements and immigration services. We’ll give you the peace of mind you need and reduce your company’s legal costs by 50% or more.
| Our Global PEO&Payroll | Client | |
|---|---|---|
| Employment risks mitigation |  |
 |
| Tax compliance & payroll processing | |
|
| Incorporation costs | |
no need for own entities |
| Effort | 90% | 10% |
| Coverage | 190 countries | 190 countries |
The Remote Work Revolution & How PEOs Can Help You Adapt
As workforces continue to evolve, they demand that leaders like you shed the old work models of yesteryear and adapt to the new ones built in front of your eyes. Global PEOs are here to help you navigate this changing employment paradigm, but only if you are willing to have an open mind about where your business is going.
As we move into the latter half of 2022, leadership teams across the globe are still struggling to figure out the best way to manage their internationally distributed workforce. Global PEOs are uniquely positioned to help companies like yours deal with these big changes, including the shift to remote work. Just a few years ago, the idea of a completely remote workforce was unheard of, but today it seems like a permanent reality for many.
Global Payroll Management & Compliance Considerations
Managing employees in different countries can be a complex and challenging task. Employees may need to be registered and taxed differently in each country, and there may be other laws that need to be followed. This can make it very hard to keep track of everything and ensure everything is done correctly.
When it comes to payroll, there are many different regulations that you must follow to avoid penalties or litigation. Each country has its laws and regulations, but some standards apply internationally. You must know and adhere to tax deadlines, withholding and reporting laws, and regulations requiring employee tax slip signatures. If you fail to adhere to these payroll compliance rules, you could face severe penalties that could negatively impact your business.
Global payroll management is a complex process that requires careful consideration of various factors. Payroll specialists must consider local regulations and taxation requirements, which can be time-consuming and difficult to navigate. However, by addressing some key challenges and partnering with a Global PEO, organizations can ensure compliant, accurate, and timely payments.
Global Payroll Calculator: Accurate Global Employment Cost Estimation
When hiring employees and contractors across the globe, you may not be choosing the most cost-effective and business-friendly country.
- Do you know which country is the most cost-effective place to hire employees?
- What are the costs of entity establishment and legal representation?
- What are the payroll costs and management fees?
- What are your ongoing annual tax compliance costs?
- Are you fully aware of banking implications?
- Did you know that labor laws and hidden costs could make your company less efficient when choosing a country to run your business?
- Did you know that there could be a more cost-effective country to hire employees in and save up to 50%?
This is because countries have different labor laws, compliance, and tax regulations. What if, instead of limiting your company’s international expansion by cutting through the jungle of local regulatory compliance, tax, labor, and immigration requirements, you could have all the information of 190 countries at your fingertips?
Acumen International offers the Global Payroll Calculator to help businesses understand the compliance requirements for conducting business in a new country. Acumen’s research team tracks developments in 190 countries around the globe. It provides up-to-date data on local regulations related to tax, payroll regulations, benefits, hiring practices, compliance requirements, and other labor-related factors that impact an employer’s bottom line. This valuable information makes the Global Payroll Calculator an invaluable tool for businesses looking to expand internationally.
Global Payroll Calculator helps companies reduce labor costs by providing up-to-date information on hiring, compensation, and tax requirements. It is also an ideal tool for quickly locating employees in any country.
International Global Payroll and Taxation in Georgia
Employment related taxes
Personal Income Tax (PITX). Resident individuals are exempt from tax on income that does not have a Georgian source.
Corporate Income Tax (CIT). Resident enterprises are subject to corporate income tax (CIT) on worldwide income.
Non-resident enterprises carrying out economic activities in Georgia through a permanent establishment (PE) are subject to CIT with respect to its Georgian-source income.
Payroll Cycle in Georgia
Remuneration shall be paid out once a month.
Non-payroll taxes in Georgia
The standard VAT rate applies to the sale of all goods and services supplied in Georgia carried out as an economic activity. Goods are considered to be supplied in Georgia if they are transferred in or their shipment originates in Georgia. Services generally are considered to be supplied in Georgia if they are performed in Georgia. However, special rules apply for services relating to immovable property and certain services provided to non-residents.
The export and re-export of goods is exempt from VAT with the right to credit input tax (formerly referred to as zero-rated). VAT-exempt supplies include financial services, goods and services required for oil and gas operations, and medical services.
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How Acumen’s International PEO and Payroll Service can Benefit Your Business in Georgia
Compensating your local and expat workforce in Georgia and closely adhering to Georgian taxation requirements can divert your attention and resources from activities that help your business grow. A reliable global employment solution like Acumen’s Global PEO and Payroll service can take a substantial burden off your shoulders so you can focus on running your company.
Outsourcing the administrative and compliance tasks involved in employee payroll is one approach, but we have a better solution. Acumen International offers a global PEO and payroll solution that goes beyond outsourcing. We hire and compensate your global workforce on your behalf, and take care of all the details of payroll while ensuring full compliance with Georgian labor and taxation laws.
It is important to note that Acumen does not provide international global payroll services as a standalone solution, but only as a part of our global PEO and Payroll solution.
Our comprehensive global PEO and payroll services are just some of the benefits of partnering with Acumen International. We make it easy for you to achieve your business goals in Georgia by officially employing and compensating your best selected global talent – both locals and expats – without concerns for legal and compliance risks faced by global employers.
Disclaimer: Any of the above information is subject to changes imposed by Georgian laws. To get the latest updates on taxation in Georgia and in 190 countries worldwide, contact Acumen’s team of global employment experts.
