- Overview: Colombia
- Expand without a company set up
- Global PEO and payroll
- Global HR Compliance
- Work permit for hiring expats via PEO
- Contractor vs. employee: which is better?
- Global Payroll Calculator
Global Employer of Record in Colombia
Global Employer of Record (EOR): Understanding the Concept
A Global Employer of Record (EOR), often referred to as an International PEO (Professional Employer Organization), is a service provider that allows companies to hire employees in foreign countries without the need for establishing a legal entity or subsidiary in that country. While this sounds straightforward, the utility of a Global EOR stretches far beyond this simplistic definition.
Eliminating the Barriers to Global Expansion
A Global EOR eliminates the need for a company to go through the complex and costly process of setting up a legal entity in a foreign jurisdiction. This includes navigating the complex web of local labour laws, tax regulations, and compliance requirements, which often vary significantly from one country to another.
Streamlining Talent Acquisition and Management
Secondly, a Global EOR plays a vital role in talent acquisition and management. With businesses looking to tap into global talent pools, a Global EOR can hire and manage employees on behalf of a company, ensuring compliance with local laws and offering standard or required benefits in the specific country.
Simplifying Payroll and Benefits Administration
The third aspect revolves around payroll and benefits administration. Companies do not have to familiarise themselves with the nuances of local payroll regulations or benefits structures. The Global EOR takes care of all these tasks, including tax withholding, social security contributions, and other local compliance requisites.
Risk Mitigation and Compliance
Risk mitigation is a huge benefit that a Global EOR provides. By outsourcing employment to a Global EOR, companies can mitigate risks associated with non-compliance with local employment laws and regulations. The Global EOR assumes responsibility for legal challenges that may arise from the employment relationship, thereby shielding the client company from potential liabilities.
A Global Employer of Record serves as a one-stop solution for companies looking to expand globally, hire internationally, and manage cross-border teams without the hassles and risks of navigating foreign legal landscapes. It’s a modern solution to age-old challenges that globalisation poses, enabling businesses to focus on growth rather than getting entangled in administrative complexities.
Global Employment Solutions
Compliance and legal guidance at every step of the Global Employment Journey. 24/7 local support.
1. Recruitment |
2. Global Mobility |
3. Checks |
4. Onboarding |
5. Payroll Administration |
6. Working Time & PTO Processing |
7. Benefits Administration |
8. Tax Administration & Reporting |
Offboarding |
Talent skilled in highly specialised 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 |
All-In-One Global Employment Solution in Colombia
Employing globally is no longer a maze of local setups and legal hurdles. With Express Global Employment, you can build a global team seamlessly. Benefit from our comprehensive, compliant, and efficient global employment solutions that eliminate the complexity of international hiring. From contract generation to seamless integration, we ensure that your expansion is as limitless as your ambition.
Global Mobility Support
Our global mobility support is about turning complexity into simplicity. We expedite onboarding and immigration procedures, ensuring your global talent is ready to engage and deliver results swiftly. By eliminating red tape and administrative burdens, your team can focus on what they do best, propelling your business forward in every corner of the globe.
Global Payroll & Benefits, Handled
Financial well-being is critical to employee satisfaction. That’s why we navigate the intricacies of international payroll and benefits with expertise. Our solutions offer your workforce a competitive and fully compliant financial package, wherever they may be. With Express Global Employment, you can assure your team that their compensation is globally competitive wherever they are in the world.
Borderless Expansion, No Entity Needed
Launch your workforce in 190 countries without the burden of establishing local entities. Our all-in-one global employment solution allows quick, compliant onboarding and talent management. You can immediately scale up your operations and seize international opportunities with Express Global Employment as your guide.
New Markets. Zero Risks.
Expanding your business’s horizons should not multiply its risks. Protect your global ventures from compliance pitfalls with our expert guidance. We manage the complexities of employee classification and permanent establishment risks, ensuring that your expansion is secure and strategically sound. With us, new markets mean new opportunities, not new worries.
Spotlight on Colombia
- Location: Colombia is a country in northwest South America. It is bordered by Venezuela to the northeast, Brazil to the southeast, Peru to the south, and Ecuador to the southwest. Colombia also has coastlines on the Caribbean Sea to the north and the Pacific Ocean to the west.
- Capital: Bogotá
- Population: 48.2 million (2023)
- Local currency: Peso (COP)
- Colombia is a member of the United Nations, the World Trade Organization, and the Pacific Alliance.
- Colombia has a number of bilateral investment treaties (BITs) with foreign countries, including the United States, the United Kingdom, and Spain.
- Colombia’s government has introduced several reforms in recent years to improve the business environment, such as reducing bureaucracy and streamlining licensing procedures.
Economic Outlook
According to the World Bank, the Colombian economy is expected to grow by 2.0% in 2023. This is a slowdown from the 5.0% growth rate recorded in 2021, but it is still higher than the average growth rate for Latin America.
The slowdown in growth is due to a number of factors, including the global economic slowdown, the war in Ukraine, and rising inflation. However, the Colombian economy is supported by a number of factors, such as a young and growing population, a strategic location, and a number of ongoing economic reforms.
Investment Opportunities
Colombia is a country with a number of investment opportunities, including:
- Mining: Colombia is rich in mineral resources, such as gold, copper, and coal. There are opportunities for investment in mining and exploration.
- Agriculture: Colombia is a major agricultural producer, and there are opportunities for investment in irrigation systems, agricultural machinery, and food processing plants.
- Infrastructure: Colombia is investing heavily in infrastructure development, and there are opportunities for investment in roads, bridges, ports, and airports.
- Tourism: Colombia is a beautiful country with a lot to offer tourists, including beaches, rainforests, and historical sites. Investment opportunities exist in hotels, resorts, and other tourism infrastructure.
Streamline Your Expansion in Colombia with Express Global Employment’s EOR Services
Navigating the intricate landscape of Colombian employment law can be a significant hurdle for global businesses seeking to expand in this growing market. Express Global Employment alleviates this burden with our tailored Employer of Record (EOR) services, enabling you to compliantly hire, onboard, and manage local and international talent easily and confidently.
Our end-to-end global EOR and payroll services guarantee your complete adherence to Colombia’s complex labour and tax regulations. By entrusting your HR functions to us, you can focus squarely on your core business activities, unencumbered by administrative complexities.
We offer a wide array of services designed to effectively meet your global HR needs. From acquiring top-tier talent to entering new markets seamlessly, we ensure all bases are covered. Our process includes the meticulous drafting of employment contracts, comprehensive social security registration, and the arrangement of work permits and business visas for your expatriate workforce, all while assuring full legal compliance.
With Express Global Employment as your strategic partner, you’re empowered to conquer the challenges of Colombia’s employment law, freeing you to expand your business ambitiously and responsibly.