Doing business in Singapore with a Singapore PEO / Employer of Record
Singapore has long stood out as an extraordinary destination for foreign investment in Asia. With its welcoming regulatory and tax environment and its extensive networks of international businesses, there is no wonder that Singapore is home to many of the world’s largest companies or their Asian regional headquarters.
With exceptional standards of education and professional training, Singapore has a talented workforce with global exposure and experience. Any investors looking to start a business in Singapore or test the markets would do well in partnering with a reputable professional employer organization (PEO) or employer of record (EOR) in the country. PEOs/EORs in Singapore are able to handle all administrative and legal aspects of having a workforce in Singapore, from contract creation through to renewal or dismissal.
Read on to discover the benefits of using a PEO / Employer of Record in Singapore and to get rankings of the top Singapore PEO providers.
Why Use a PEO/EOR in Singapore?
Businesses in Singapore are able to benefit from the highly international flavor of the city, but there nonetheless remain some complex legal and regulatory frameworks to navigate when expanding into Singapore.
Most companies would ordinarily have to establish an entity in Singapore, then ensure that reliable legal advice was sought to hire employees and manage all of their varying payroll, tax, retirement, and social security contributions. This is a difficult task in any country, let alone in a foreign one, and for that reason, many companies find partnering with a PEO/EOR in Singapore to be the solution.
PEOs/EORs handle all these aspects of foreign employment in a compliant and efficient manner, as well as reducing risk.
Best Singapore PEOs & Employer of Record
1. New horizons global partners
With offices throughout Asia, New Horizons Global Partners is a stand out PEO/EOR in Singapore as well as elsewhere on the Asian continent. Unlike many other PEOs/EORs, it places high importance on having local consultants who truly understand the employment and business landscapes in which companies operate.
In doing so, it is able to guide executives through the often complex processes involved in setting up a business in Singapore, as well as assisting any foreign staff to understand the business culture and etiquette.
2. Global PEO
Global PEO has continued to develop their organization in recent years and consistently provides superb global expansion guidance to businesses worldwide. The group is based in Hong Kong, but their knowledge base in other countries is localized and up-to-date with the modern working culture. The company’s cost-effective nature is a strong selling point for businesses expanding into Singapore, and offers pricing rates that are competitive compared to industry norms. In addition to recruitment and hiring services, they’re also set up to take on a variety of duties based around entity setup, staffing, payroll, and a variety of administrative functions.
3. Sky executive
SkyExecutive is a well-respected recruitment agency and Professional Employer Organization (PEO) with local operations in Singapore. This means that Sky Executive has the ability to combine their recruitment services with their day-to-day PEO employment solutions to provide a unique set of PEO benefits for companies looking to expand overseas and provide a single point of contact for these businesses. SkyExecutive places high value on its network of local consultants based in Singapore, with that level of local expertise being helpful for companies looking for a smooth transition into a new business environment.
Request a Singapore PEO Proposal
If you would like to expand your business operations into Singapore, GlobalizationPedia can connect you with a PEO that best fits your needs at the most cost-effective price. Fill out the form today and we’ll tap into our extensive database of partnerships to give you a full rundown with the best potential PEO matches for your company.