Expanding your business internationally, is beneficial for you. But it is also a daunting task. In order to set up a legal international business you need extensive planning and preparation. You have to think of elements such as understanding your legal and financial obligations, mobilizing existing staff, hiring new staff, etc. in order to successfully expand your business. Because of how complex this preparation process is, it is better to avail the services of an Employer of Record company or PEO Germany while setting up an international business in Germany.
In order to internationally incorporate your company in Germany, you need to set up a physical and legal presence in Germany. For this purpose, the company has to be registered with the local and national government. They also have to set up a branch office and a subsidiary company in Germany. Further, you need to have enough capital in order to take a local bank account. You need to set up a legal, HR and finance team so that they can help you comply with local laws and regulations of Germany.
An Employer of Record Germany can help you with all these tasks. They function as a third-party organization and helps you to hire new employees without setting up an entity in Germany. The EOR will have a physical presence and on paper will appear as the legal employer while the client company will make decisions regarding talent acquisition, hiring, decision making, etc.
Some of the other services that EOR helps you with while business expansion includes:
· Payroll management
· Employment contract management
· Work permits and visas
· Insurance and tax
· Expenses and time sheets
By availing the services of an Employer of Record Services Germany, you can get your business up and running in Germany in no time. This can even be done in a matter of 2 days. With EOR acting as the legal entity, you can start operating as soon as foreign employees are hired. EOR helps you to take advantage of global talents and hire talent that might not be available in your region.
Some of the other perks of partnering with an EOR includes:
You do not have to worry about not complying with the local and regional laws of Germany.
Because of not having to set up a subsidiary, you do not have to undertake the usual risks associated with expanding to a new market.
With EOR, you can easily expand to multiple countries simultaneously.
You can save a lot of cost as you do not have to set up a physical entity
EOR will have team of experts in labor law and regulations so you do not have to worry about changing legislations.
Hiring will be efficient as the EOR will know the new market, the language, business culture, etc.
They also have a team of local HR experts who can keep record of the employee payroll.
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