Employ Candidates Compliantly in Hong Kong

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  1. Overview: Hong Kong
  2. Global PEO and payroll
  3. Global HR Compliance
  4. Work permit for hiring expats via PEO
  5. Expand without a company set up
  6. Contractor vs. employee: which is better?
Other counrtries

Global PEO and Payroll in Hong Kong

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.

Are you looking for a hassle-free way to manage your company’s global employment needs in Hong Kong? Look no further than a global PEO in Hong Kong.  A global PEO (Professional Employer Organization) can offer comprehensive global employment solutions in 190 countries.

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What is a Global PEO (Professional Employer Organization)?

PEOs are an exciting new trend in the business world. Initially created to help small businesses manage their employee benefits, PEOs are now being utilized by big corporations and start-ups alike. They offer many benefits that can help companies save money, including the ability to bundle services from multiple providers, lower prices for employee benefits, coordinated global administration payroll and benefits administration, and streamlined global employment compliance.

The greatest benefit of these organizations is the ability to outsource the time-consuming tasks associated with running a company while focusing on your organization’s core business. PEOs also work well for companies with multiple locations or remote workers because they provide uniformity regarding worker experience. They can integrate any new hires into the overall culture of your organization.

A PEO, or ProfessionalEmployment Organization, is a company that contracts with other businesses to provide human resources services. These include 

  • payroll and benefits administration, 
  • tax reporting, 
  • workers’ compensation insurance, 
  • unemployment insurance claims management, 
  • employee screening,
  • legal and regulatory compliance assistance, 
  • HR consulting,
  • immigration services, 
  • other financial services. 

Businesses can focus on their core competencies and goals by outsourcing these time-consuming and complex tasks to a global PEO.

Why Partnering with Global PEO Is a Win-Win Solution For Businesses 

  • When you first move your business overseas, you might be struck with the realization that you’re about to get a lot more responsibility than you bargained for. Setting up a foreign legal entity is a costly and time-consuming process, not to mention it’s something that requires legal expertise and knowledge of local labor laws. With the help of an international PEO (Professional Employment Organization), you can skip the hassle of setting up a foreign legal entity or figuring out local labor laws.
  • As your business grows and changes, its needs also change. To stay competitive in the ever-changing global business environment, you need to focus on growing your business while ensuring that it is legally compliant with the requirements of each foreign market you enter. This can be a huge challenge for even the most organized entrepreneur. Suppose you are looking for an alternative to hiring an entire HR and legal department to handle these responsibilities for your company. In that case, you may want to consider working with a global PEO (Professional Employer Organization).
  • As a business owner, you face many potential threats. Global PEO can help reduce these risks by providing compliance support with labor and tax laws, insurance coverage, record keeping, and immigration issues.
  • A global PEO can help by providing compliance support with labor and tax laws, insurance coverage, record keeping, and immigration issues (visa sponsorship and work permits). Also, a global PEO may provide an employer’s liability insurance policy that covers accidents that occur on the job and workers’ compensation to protect employees against injuries or death that occurs while on the job. 
  • Global PEOs can also provide administrative services such as payroll processing and benefits management to keep track of all your employee information and ensure you are in line with all necessary regulations.

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10 Burdens a Global PEO Can Relieve for Your In-House HR Department

  1. Global expansion complexity 
  2. Global payroll administration
  3. Compliance assistance
  4. Lengthy onboarding 
  5. Background checks
  6. Immigration and relocation support for your ex-pat workforce, such as visa sponsorship and securing work permits
  7. Complex and risky offboarding
  8. Business transitions: acquisitions, mergers, close downs
  9. IP right protection
  10. Need to deal with multiple global employment service providers.

Why Choose Acumen International PEO and Payroll in Hong Kong?

Acumen International is a global PEO that provides international employment services to companies with employees working in multiple countries, including Hong Kong. 

Acumen’s Global PEO services include payroll and benefits administration, background checks, immigration support, and more. Quick and easy market entry is guaranteed with PEO – we are your local legal entity, so there is no need to incorporate. Plus, our compliance with all local laws and regulations ensures that you can operate securely and confidently.

Our flexible approach means that we can scale up or down according to your business needs, and we minimize risk by protecting your company’s IP and employees. Delegate global employment responsibilities to us and focus on running your business! 

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

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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 labour 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%?
  • How to hire international teams without setting up a local entity?

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?

The Global Payroll Calculator is built by Acumen International 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.

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International Global Payroll and Taxation in Hong Kong

Employment related taxes

Personal Income Tax (PIT)

The personal income tax (PIT) is paid by individuals only on their income sourced in Hong Kong. PIT is imposed on employment income at the progressive tax rates. Alternatively, PIT can be imposed on employment income at a standard flat tax rate if the PIT liability taxed under a standard rate is less than taxed under the above progressive rates. No additional municipal or local income taxes are levied on employment income. Nonresidents are subject to PIT and Mandatory Provident Fund (MPF) contributions at the same rates that apply to residents.

Corporate Income Tax (CIT)

The corporate income tax (CIT) is paid by companies only on their income sourced in Hong Kong. There is a two-tiered profits tax rates regime in Hong Kong. The tax treatments of public and private companies are the same. There are special rules for determining the tax liabilities of certain industries. 

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.

Disclaimer: Any of the above information is subject to changes imposed by Hong Kong laws. To get the latest updates on taxation in Hong Kong and in 190 countries worldwide, contact Acumen’s team of global employment experts.

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