- Global HR Compliance
- Global PEO and payroll
- Work permit for hiring expats via PEO
- Contractor vs. employee: which is better?
- Expand without a company set up
Global Employer of Record in Singapore
Global employment services
Businesses in the process of expanding globally often face challenges when it comes to compliantly onboarding employees in foreign countries. In most cases, legal compliance requires the establishment of a legal in-country business entity, a complex, costly and time-consuming process that many employers are not ready to undertake.
To help your organization legally onboard and payroll a workforce in Singapore, Acumen International offers a global employment solution via our Global Employer of Record / EOR. As a global employment organization, Acumen International serves both end employers and service companies representing international clients. Partner with Acumen International, and let us help you handle your global employment and HR needs.
Spotlight on Singapore:
Singapore, officially the Republic of Singapore, is a sovereign island city-state in maritime Southeast Asia. It lies about one degree of latitude north of the equator, off the southern tip of the Malay Peninsula, bordering the Straits of Malacca to the west, the Riau Islands to the south, and the South China Sea to the east. The country’s territory is composed of one main island, 63 satellite islands and islets, and one outlying islet.
- Capital: Singapore.
- Population: 5,665,000.
- Industries: Singapore’s economy is based on electronics, petrochemicals, trade, finance, and business services. The agricultural sector is almost non-existent except for cultivation of orchids, vegetables and fish for aquariums. The services sector is dominated by trade, business services, transportation, communications and financial services. As a regional commercial hub, the Port of Singapore is one of the most important in the world.
- Local currency: Singapore dollar (S$) (SGD).
Acumen International offers a global PEO and payroll solution to take care of all the details of payroll while ensuring full compliance with in-country labor and taxation laws. To get more information about Acumen’s Global PEO and payroll service in Singapore click here.
Global employment in Singapore
Employ your Selected Workforce in Singapore via Acumen’s Employer of Record / EOR Solution
Acumen’s Global Employer of Record / EOR solution was designed to help international companies like yours expand your global reach and engage the brightest global talent for your projects.
Acumen’s Employer of Record / EOR service in Singapore offers an efficient and inexpensive alternative to direct hiring.
As an Employer of Record services provider, Acumen International helps businesses to legally engage and pay their selected highly skilled professionals in Singapore. Businesses desiring to hire local employees should be prepared to pay competitive salaries, to attract and retain the most qualified candidates.
Acumen is helping you navigate the challenges which global COVID-19 pandemic and market unrest caused. Some areas and procedures have been severely impacted, e.g. visa and travel rules restrictions, migration regulations change, health checks and vaccination policies requirement in case of cross-border travelling, etc. Timely counselling with the Acumen’s team will ensure proper guidance of the client through challenging situations and assist him in resolving complicated situations.
Leave it to Acumen to hire and compensate your employees on your behalf, so you can focus on growing your business.
Legally Onboard and Payroll your Employees in Singapore with Acumen’s Global Employment Solution
Breaking into Singapore’s market or engaging local talent companies could face additional tax and penalties.
There are special tax rules around Personal services income (PSI). The PSI rules were introduced to prevent the shifting or splitting of income with other individuals or entities in an attempt to pay less tax. PSI applies to contractors working in Singapore if their business is generating ‘personal services income’, and does not affect an employee receiving only salaries. But, if you are operating through an entity and are an employee of that entity then the PSI rules may apply.
The penalties imposed for either an individual or employer who is found guilty of hiring an unlawful employee is treated rather seriously under Singapore law. Companies can be fined up to $66,000 for every illegal worker, who is found to be working within the company, and up to $165,000 for exploiting a migrant worker. Also it’s against the Singapore’s law for a business to incorrectly treat their employees as contractors. Fine for misclassifying an employee as an independent contractor in Singapore up to AUD $63,000.
Reduce your risks while expanding your business, without establishing your own legal entity in Singapore. You can trust Acumen to handle the global employment and HR details of your workforce management in Singapore, to ensure full compliance with in-country employment laws.
Acumen’s Global employment services are designed to provide our clients with professional assistance to meet their global HR needs, such as:
- Global talent acquisition and retention
- Global expansion, to help you quickly enter new global markets without legal and HR compliance risks
With Acumen, you can rest assured that all legal requirements are met for compliant hiring and compensating of your employees in Singapore, and in 190 countries worldwide where we serve our international clients.