Cambodia’s Open Market system and low unemployment rate have contributed to their impressive economic progress in recent years. With an emphasis on maintaining and developing friendly borders with neighbors such as Thailand and Vietnam, as well as joining regional (ASEAN) and global (WTO) trading systems, the country is poised for continued development.
Businesses are enticed by Cambodia’s low wages, plentiful labor, easy access to Asian raw materials, and favorable tax laws. While the advantages are considerable in this country of over 15 million, the young (50% of the population is under 22) population and diversity of languages can be challenging for new businesses. In many cases, Professional Employer Organizations (PEOs) and Employer of Record (EOR) services are the perfect solutions. Their experience and knowledge of local laws and culture are invaluable for those setting up a new business. We’ll discuss the benefits of PEOs/EORs in Cambodia and list the best ones.
Why Use a PEO in Cambodia?
An emerging democracy, expanding petroleum operations, and recent reliance on foreign aid are only a few of the factors that affect possible business openings in Cambodia. PEOs can provide the insight and hiring expertise that can help foreign business owners navigate complex tax laws and language differences. Working as the legal Employer of Record, they expedite administrative tasks such as hiring and payroll, helping businesses enter the country with as few ripples as possible.
Best Cambodian PEOs & Employer of Record
New Horizons Global Partners
Based in Shanghai, New Horizons Global Partners are leaders in providing comprehensive support services – extending to staffing, recruitment, entity setup, and more. For new Cambodian business expansions, their coverage of the Asian market is elevated by a local presence. Tailored solutions are their specialty, and New Horizons has enviable experience – boasting a diverse worldwide portfolio.
For businesses that are exploring the Cambodian market, New Horizons offers a full suite of PEO/EOR solutions. They partner for quick and simple business openings, handling everything from finding office rentals to specialized recruiting solutions.
An established PEO in Asia, INS has worked with the Asian marketplace for more than a decade. They have expertise in various HR disciplines such as recruitment, company incorporation, invoicing as well as payroll and tax administration.
A worldwide presence helps broaden their perspective on effective business practices, and their commitment to a seamless “ecosystem” for clients could be valuable.
Serving 170 countries to date, Globalization Partners is diverse and experienced in foreign market entry. Their platform can provide a nearly hands-off approach to payroll and human resources management.
Their size can limit the qualities that a company looking for more personal solutions might require. It’s possible that a PEO/EOR with local consultants can provide a more tailored solution for new businesses.