- Overview: New Zealand
- Global PEO and payroll
- Global HR Compliance
- Work permit for hiring expats via PEO
- Expand without a company set up
- Contractor vs. employee: which is better?
Global Employer of Record in New Zealand
What Is a Global Employer of Record?
A Global Employer of Record (EOR) is a global employment service provider that helps businesses expand their operations internationally by serving as the legal employer for their overseas employees. When a company wants to hire employees in a foreign country, they often encounter various legal, administrative, and compliance challenges related to employment laws, payroll, taxes, benefits, and other HR functions.
A Global EOR acts as an intermediary between the company and the foreign workforce, assuming the legal responsibility for employment and compliance in the host country. They handle employment contracts, onboarding, payroll processing, tax withholding, benefits administration, and statutory compliance with local labour laws and regulations. This allows the client company to focus on their core business operations without establishing a legal entity or setting up a separate HR infrastructure in each country they operate in.
By partnering with a Global EOR, businesses can efficiently and compliantly hire and manage their international workforce. The EOR takes care of the complexities associated with global employment, reducing the administrative burden and mitigating the risks for the client company. It provides a streamlined approach to international expansion, allowing companies to enter new markets and scale their operations globally quickly.
Global Employment Services in New Zealand by Acumen International
Compliance and legal guidance at every step of the Global Employment Journey. 24/7 local support.
Regarding global employment services in New Zealand, a Global Employer of Record (EOR) can provide comprehensive support and expertise throughout the employment journey. Here’s how they can assist:
Compliance and Legal Guidance
New Zealand has specific employment laws and regulations that companies must comply with when hiring employees. An EOR familiar with the local labour laws can offer guidance and ensure that your employment practices align with the legal requirements. They can help draft employment contracts that comply with local laws, ensure proper adherence to statutory benefits, and provide advice on employment-related legal matters.
Payroll and Tax Compliance
Managing payroll and tax obligations can be complex, especially in a foreign country like New Zealand. An EOR can handle payroll processing, ensuring accurate calculation and timely payment of wages, taxes, and social security contributions in compliance with New Zealand’s tax regulations. They help clients stay current with any tax law changes, ensuring your payroll remains compliant.
New Zealand has various statutory benefits and entitlements for employees, such as annual leave, sick leave, parental leave, and retirement savings schemes. An EOR can assist in administering these benefits, tracking accruals, and ensuring compliance with local regulations. They can also provide guidance on optional benefits or additional perks that you may want to offer to attract and retain talent in New Zealand.
Employment laws in New Zealand cover areas like minimum wage, working hours, termination procedures, and employee rights. A Global EOR can help you navigate these regulations, ensuring your employment practices align with the local legal requirements. They can advise on best practices, assist with compliance audits, and help mitigate potential risks associated with non-compliance.
Having 24/7 local support is invaluable, especially when dealing with international employment. A Global EOR with a presence in New Zealand can provide on-the-ground support, assisting and guiding the company and its employees. They can promptly address urgent HR or employment-related issues and ensure effective communication across time zones.
By partnering with a Global EOR for your employment needs in New Zealand, you can leverage their expertise in local employment practices, legal compliance, payroll administration, and benefits management. This enables you to navigate the complexities of employing workers in a foreign country while ensuring compliance and receiving dedicated support throughout the entire employment journey.
2. Global Mobility
5. Payroll Administration
6. Working Time & PTO Processing
7. Benefits Administration
8. Tax Administration & Reporting
|Talent skilled in highly-specialized areas||Employee Work Visa and Work Permit sponsorship||Health checks||Employment Agreement drafting||In-country registration with statutory bodies||Working hours||Mandatory Benefits||Tax Reporting frequency and requirements;||Employment agreement termination:|
|Executive search||Dependent Visa||Criminal record checks||Compliant worker onboarding on your behalf||Day-to-day payroll management||Overtime||Health insurance||Employer taxes & contributions||Dismissal – by the employer|
|Contingency workforce||Visa extension||Background checks||Account setup in the payroll and HR system||Monthly pay slips or other pay frequency||Public holidays||Workers’ compensation||Employee taxes & contributions||Resignation – by the employee|
|Application for a sponsor license for a foreign national||Education checks||Employee data entry and records maintenance||Accruals||Annual leave||Unemployment insurance||Withholding tax||Termination by mutual agreement|
|Relocation assistance||Managing probation periods||Allowances||Parental leave||Voluntary Benefits||Local tax payments and reporting to local authorities||Notice period handling|
|13th and 14th salary||Sick leave||Share plans for executives||End of financial year reporting||Final settlement & severance payments|
|Additional leave||Bonuses & Equipment provision||De-registration with statutory bodies|
|Expenses reimbursement & business trip processing|
|Health insurance, dental treatment|
Government Support for Businesses in New Zealand: Boosting Growth and Innovation
The New Zealand government recognizes the importance of fostering a vibrant business environment and supporting the growth and success of businesses operating within the country. To achieve this, they provide a range of support mechanisms, incentives, and resources to assist local and international businesses. These government initiatives aim to promote entrepreneurship, attract investment, stimulate innovation, and drive economic development.
|Government Incentives in New Zealand||Description|
|Research and Development (R&D) Grants||Financial support for startups engaging in innovative research and development activities. These grants can cover a portion of eligible R&D costs, helping to reduce the financial burden and encourage innovation.|
|Tax Credits and Exemptions||Tax incentives, such as tax credits or exemptions, aim to reduce the tax burden on startups. This can include tax credits for R&D expenses, tax holidays, or reduced corporate tax rates for a certain period.|
|Startup Investment Funds||Government-backed funds or investment schemes that provide capital or co-investment opportunities to early-stage startups. These funds are typically designed to attract private investment into startups and support their growth.|
|Incubators and Accelerators||Support programs, often backed by the government, provide mentoring, networking, and resources to startups. These programs help foster entrepreneurship and accelerate the growth of early-stage companies.|
|Intellectual Property (IP) Support||Support startups in protecting their intellectual property rights, including patents, trademarks, and copyrights. This support can include financial assistance for filing IP applications or access to legal support.|
|Export Assistance Programs||Support programs that help startups expand into international markets. These programs may offer market research, export training, trade missions, or financial support for participation in international trade shows and events.|
Some key government websites in New Zealand that you may find useful include:
- New Zealand Trade and Enterprise (NZTE): The official website for NZTE provides information on trade, investment, and support services for businesses in New Zealand.
- Ministry of Business, Innovation and Employment (MBIE): MBIE is the government agency responsible for economic development, business support, and labour market initiatives. Their website offers valuable resources and information for entrepreneurs and businesses.
- Inland Revenue Department (IRD): The IRD is responsible for tax administration in New Zealand. Their website provides information on tax incentives and benefits for businesses, including startups.
Seamless Employment Solutions: Harnessing Global EOR Services in New Zealand
Organizations in an increasingly interconnected global business landscape often encounter scenarios requiring efficient and compliant employment solutions in different countries. This is especially true when expanding operations to New Zealand, where navigating local employment laws and establishing a legal entity can be complex and time-consuming. Global Employer of Record (EOR) services in New Zealand emerge as a valuable resource in such situations.
Let’s explore eight common scenarios where clients may need Global EOR services in New Zealand. By leveraging these services, organizations can enjoy the benefits of streamlined employment processes, compliance assurance, and flexibility, enabling them to focus on their core business objectives and seize new opportunities.
|1. Unhappy with current employment service provider||Global EOR provides an alternative employment solution that offers greater flexibility, scalability, and compliance with local employment, immigration, and tax laws and regulations.|
|2. Unsure if you comply with local laws and regulations||Global EOR ensures compliance with local labour laws and regulations in New Zealand, taking the burden of legal and tax compliance off your shoulders.|
|3. Looking to improve the quality of employment services||Global EOR provides a comprehensive employment solution that includes onboarding, payroll, benefits, and compliance support, allowing you to focus on your core business activities.|
|4. Can no longer afford to maintain a whole legal operation||Global EOR enables you to maintain a presence in New Zealand without the costs and complexities of establishing a legal entity, allowing you to focus on business expansion and growth.|
|5. Temporary project or one that doesn’t require a legal entity||Global EOR offers a flexible and cost-effective solution for hiring employees for short-term or project-based work in New Zealand, eliminating the need for a long-term commitment.|
|6. Need to hire a foreign workforce||Global EOR enables you to hire a workforce in New Zealand without establishing a legal entity, allowing you to expand your business globally.|
|7. Need a mix of local and foreign employees||Global EOR offers a hybrid solution for hiring local and foreign employees, providing the best of both worlds to support your business growth in New Zealand.|
|8. Supporting the organization’s employees during restructuring or reorganizing||Global EOR provides a seamless and compliant solution for managing employee relations during business transitions such as mergers, acquisitions, or New Zealand closures.|
Seize Opportunities in New Zealand: Empowering Workforce Mobility with Global EOR Services
As businesses expand their operations globally, managing the mobility of their workforce becomes increasingly crucial. Global mobility services help organizations navigate the complexities of deploying and managing employees in different countries, including New Zealand. Acumen International Employer of Record (EOR) offers comprehensive global mobility services that streamline the entire process, from immigration and work permits to ensuring compliance with local labour laws and regulations.
|Global Mobility Service||Description|
|Immigration Support||Expert assistance with immigration processes, visa applications, work permits, and ensuring compliance with immigration regulations in New Zealand.|
|Relocation Assistance||End-to-end support for employees relocating to New Zealand, including assistance with housing, transportation, and settling-in services to facilitate a smooth transition.|
|Global Mobility Support||Offering guidance and support throughout the entire assignment lifecycle, including assignment planning, cultural training, and ongoing assistance for employees and their families.|
|Mobility Policy Development||Assisting in developing comprehensive mobility policies tailored to New Zealand’s unique requirements, including cost-of-living adjustments, allowances, and employee benefits.|
|Ongoing Support||Providing continued support throughout the employee’s assignment, including addressing employee queries, managing work permits/extensions, and facilitating repatriation at the end of the assignment.|
Spotlight on New Zealand:
- Location – New Zealand is an island country in the southwestern Pacific Ocean, comprising two main landmasses, the North Island and the South Island, along with numerous smaller islands.
- Capital – The capital city of New Zealand is Wellington, situated on the southern tip of the North Island.
- Population – New Zealand has a population of 5.123 million as of 2021 and an area of 268,021 sq. km.
- Labour force – The labour force participation rate in New Zealand in the fourth quarter of 2017 is 69.21 per cent.
- Currency – The national currency of New Zealand is the New Zealand dollar.
- Holidays – New Zealand celebrates ten major public holidays: New Year’s Day, Day after New Year’s Day, Waitangi Day, Good Friday, Easter Monday, Anzac Day, Queen’s Birthday, Labour Day, Christmas Day, and Boxing Day.