There are many benefits to international contracting, both for organisations and contractors. Hiring international contractors can help organisations attract global talent and fill skills gaps in their workforce.
There are many benefits to international contracting, both for organisations and contractors. Hiring international contractors can help organisations attract global talent and fill skills gaps in their workforce.
However, organisations wishing to hire international contractors face numerous challenges, from processing payments to staff administration and the hiring process. These challenges are among the reasons a contractor or organisation would employ the services of a company that provides Employer of Record (EOR) services. This excellent service negates the need to set up as an entity in another country.
Partnering with an EOR is a cost-effective solution that reduces the chances of risks associated with global expansion for organisations of a variety of forms, from startups to small or medium-sized enterprises to large corporations.
In this article, we will delve into the details of an EOR, the benefits of employing its services and how to find the right solution for you.
What is an EOR?
An EOR (Employer of Record) is an external entity that serves as an employer for a worker while working for a different company. EORs can simplify the global recruitment process for companies and negate the need to set up entities in multiple foreign countries.
An EOR performs various administrative functions and compliance responsibilities such as onboarding, payroll processing, visa and work permit processing, tax and social security contribution payments, and maintaining employment contracts and compliance with labour laws. By taking on the legal responsibilities of employment, EORs ensure that companies' hiring practices are fully compliant and that their employees receive the necessary benefits.
EORs can function internationally and domestically, where employment and taxation regulations may vary from region to region.
While companies can certainly hire their employees in a traditional direct manner, several complexities ranging from international labour regulations to tax laws may arise when hiring and placing contractors internationally. An organisation that provides EOR services will be versed in the relevant employment and taxation laws of the region in question and will take responsibility for the necessary paperwork. Hiring an EOR can make international hiring and contracting more seamless for the employer and the candidate.
Benefits of hiring an EOR.
There are many benefits to utilising an EOR whether you are an international contractor or an organisation hiring internationally.
These benefits include:
- A streamlined onboarding and payroll process
- Administration of benefits if and where applicable
- Tax compliance process & completion of relevant forms and documentation
- Tax support and expert advice
- Immigration support and specialist advice
- Compliance with employment regulations and labour laws
- Social Security contribution & statutory benefit management
- Employment structure advice & mitigation of risks associated with errors.
- The EOR oversees paperwork and relevant documentation
- Allows organisations to hire and expand internationally with ease.
What Services are Included under an EOR?
Our EOR solution provides various services to ensure our clients fully comply with the relevant rules and regulations. These services include but are not limited to the following:
- Immigration-related queries & support, such as work permit applications & visa applications
- Insurance: We can help our clients find the best solution for them. Whether it is professional indemnity, public liability, medical cover or medivac, we can help.
- Employment structures:
- We provide contractor engagement models to suit your needs & help you hire internationally without needing to establish yourself as an entity in the country you wish to work/ hire in.
- Payroll & Taxation Services: As an employer of record, we handle the relevant payroll and taxation responsibilities.
- Assistance with all legal and tax-related documentation: Our knowledgeable team are on hand to assist with all relevant paperwork to ensure you are fully compliant
- Currency: We work with and accept payments in a variety of currencies.
How can 3C Global help you?
Our team at 3C Global is experienced in providing EOR services in Germany, the Netherlands, Ireland, Denmark, Sweden, Hungary and the United Kingdom, and we offer various contracting services to our clients. Our goal is to help our clients reach their international hiring and contracting needs and provide them with the tools to help them achieve international compliance.
Our comprehensive EOR solution complies with all relevant legal requirements, ensuring our client's international contracting needs are met.
Contact us today to get started!
