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Global Employer of Record in Liechtenstein
What Is a Global Employer of Record?
A Global Employer of Record (Global EOR) is a third-party organisation that shoulders the legal and administrative responsibilities of hiring, employing, and managing staff on behalf of a client company. Unlike a standard Employer of Record, a Global EOR can operate across multiple countries, offering a unified solution for managing international employees. This international talent engagement model is especially advantageous for companies expanding into new markets.
A Cost-Effective, Risk-Free Alternative to Local Incorporation
Choosing Express Global Employment as your Global Employer of Record offers a distinct advantage over establishing a local entity. The local incorporation is often laden with uncertainties, legal complexities, and significant financial investments. You must deal with the administrative burdens of setting up a local entity and committing to long-term engagement in a foreign market without validated business viability.
With Express Global Employment, you can enter new markets with minimal risk and financial outlay. Our services provide the agility to adapt to market conditions quickly, allowing you to scale up or down as your business needs change. This flexibility eliminates the necessity of maintaining a local entity, saving you considerable time and money in the long run.
Moreover, you can simultaneously test the waters in multiple markets without being bogged down by jurisdictional limitations or bureaucratic hurdles. This approach lets you focus on core business activities, ensuring that your international operations are fully compliant and professionally managed.
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 |
Navigating Foreign Incorporation Challenges with a Global EOR
Eliminate Incorporation Costs
Utilising Global EOR services eliminates the financial burden of incorporating a legal entity in each country of operation. This significantly reduces administrative and legal costs. By removing this financial barrier, businesses can expand into new markets more easily. This is especially beneficial for startups and SMEs that are mindful of budget constraints.
Speed Up Time-to-Market
Global EOR allows you to start your operations in new markets immediately. The usual delays associated with incorporation paperwork and legal processes are bypassed. This rapid deployment can give you a competitive edge. Being the first mover in fast-paced markets can offer numerous advantages, including establishing brand recognition.
Simplify Banking Operations
With Global EOR, there’s no need for local bank account registrations. This eliminates issues associated with foreign currency conversions, streamlining financial management. Not having to open local bank accounts reduces capital requirements and associated costs. This streamlines your business operations and allows you to focus on your core competencies.
Ease Regulatory Complexities
Global EOR provides businesses with expert guidance on labour law compliance. This minimizes the risk of incurring non-compliance penalties or potentially ceasing operations in foreign jurisdictions. This expertise is invaluable for companies without an in-depth understanding of international labour laws. The support extends to every aspect of HR, from hiring to termination procedures.
Mitigate Tax and Employment Liability
Global EOR assumes 100% liability for tax and employment in all jurisdictions. This offloads a significant legal and financial burden from your enterprise. Moreover, the risk associated with potential lawsuits or legal issues is markedly reduced. As a result, the company can operate in multiple jurisdictions with increased financial security and less concern about legal repercussions.
Efficient Multi-country Operations
Global EOR offers an instant team of experts well-versed in multi-country operations. They can guide you through the complexities and challenges of operating in diverse business landscapes. This saves you the time and effort of trying to understand different market dynamics. It allows your business to navigate through various regulatory environments efficiently.
Facilitate Market Exit
Global EOR offers a swift and simplified exit strategy if a particular market proves unsuitable for your business. This eliminates the complexity involved in dissolving a legal entity. It also ensures that employee terminations are carried out in a compliant manner. This flexibility allows for more agile business operations, enabling companies to pivot as market conditions change.
Penetrate Underserved Markets
Global EOR services are particularly useful for startups wanting to operate in riskier or underserved markets. These services ensure compliant employment of foreign workforces, even in regions where other trusted intermediaries may not exist. This opens up new opportunities for business growth. With Global EOR, your company can explore previously considered too risky or complicated markets.
Elevate Global Talent Acquisition
Global EOR services provide comprehensive data and insights into tax, labour markets, and compliance. This enables you to make well-informed hiring decisions. By having this knowledge, you can better navigate the complexities of hiring in different jurisdictions. These insights help streamline recruitment processes, saving time and resources.
Single Point of Contact
Global EOR serves as a single point of contact for all HR, compliance, and payroll needs. This simplifies the logistical challenges of managing multiple service providers. It reduces the cost, risk, and effort involved in juggling different service contracts. By centralizing these services, you gain efficiency and reduce the risk of compliance errors.
From M&As to Close-Downs: Benefits of Partnering with a Global EOR for Successful Business Transitions
A Global EOR (Employer of Record) is a company that provides comprehensive employment solutions to businesses that want to expand their operations globally without having to establish a legal entity in each country where they operate. In addition to handling payroll, compliance, and legal matters, a Global EOR can also provide a range of other services to support businesses undergoing transitions, M&A processes, restructuring, or those on the way to establishing their own local legal entities.
Challenges | Solutions |
Legal and compliance requirements | A Global EOR can ensure that all legal and compliance requirements are met, including handling payroll, taxes, benefits, and employment contracts in accordance with local laws and regulations. |
Employee retention and morale | A Global EOR can provide support and guidance to employees during times of uncertainty, helping to ensure that they remain motivated and engaged. They can also help ensure employees are seamlessly transferred to the new organization without disrupting their employment or benefits. |
Recruitment and onboarding | A Global EOR can support the recruitment and onboarding of new employees, helping ensure that the business has the right talent to support its operations. |
Cultural differences | A Global EOR can provide valuable insights and expertise on local customs, culture, and business practices, helping to ensure that the business can navigate cultural differences effectively. |
Cost management | A Global EOR can help businesses manage costs during times of transition by providing a flexible, scalable employment solution that can be tailored to their specific needs. |
Employment infrastructure | A Global EOR can provide an established legal entity in a target country, allowing the employer to operate legally and compliantly. This can be especially beneficial for businesses that are expanding into new markets or regions, as it allows them to establish a local presence and start operating quickly without the need for significant upfront investment or administrative overhead. |
Spotlight on Liechtenstein
Liechtenstein is a country with a strong economy and a number of investment opportunities. The government is committed to promoting economic growth and creating jobs. Liechtenstein is a good place to do business, and there are a number of opportunities for foreign investors.
- Location: Liechtenstein is a doubly landlocked German-speaking microstate in Central Europe. Switzerland borders it to the west and south and Austria to the east and north.
- Capital: Vaduz
- Population: 38,344 (2023)
- Area: 160 square kilometers (62 sq mi)
- Labour force participation rate: 60.9% (2021)
- Currency: Swiss franc (CHF)
- Holidays – Liechtenstein has 15 major public holidays: New Year’s Day, Epiphany, Candlemas, Saint Joseph’s Day, Easter Monday, Labour Dya, Ascension Day, Whit Monday, Corpus Cristi Day, Liechtenstein State Celebration, Nativity of Our Lady Mary, All Saint’s Day, Immaculate Conception Day, Christmas Day, Saint Stephen’s Day.
Economic Outlook
According to the World Bank, the Liechtenstein economy is expected to grow by 2.5% in 2023. This is a slowdown from the 3.5% growth rate recorded in 2022, but it is still higher than the average growth rate for Europe.
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 Liechtenstein economy is supported by a number of factors, such as a highly skilled workforce, a low tax environment, and a stable political system.
Investment Opportunities
Liechtenstein is a country with a number of investment opportunities, including:
- Financial services: Liechtenstein is a major financial centre, and there are opportunities for investment in banks, asset management firms, and other financial institutions.
- Manufacturing: Liechtenstein has a strong manufacturing sector, and there are opportunities for investment in a variety of industries, such as precision engineering, medical devices, and electronics.
- Tourism: Liechtenstein is a popular tourist destination, and there are opportunities for investment in hotels, resorts, and other tourism infrastructure.