Doing Business in the Philippines with a PEO/EOR
The increasing reliance on technology in the Philippines is making the country more internationally-connected. The market is rich in opportunities in a number of industries, including transportation, science, and communications and the fact that English is spoken widely by its 101 million inhabitants makes it an especially friendly destination for foreign investment. That said, the legal system, and indeed the administrative systems of government, are yet to modernize to facilitate the entry of foreign companies, and for that reason partnering with a reputable professional employer organization (PEO) or employer of record (EOR) is a smart move.
Why use a PEO/EOR in the Philippines?
While the available marketing opportunities are a source of enthusiasm for foreign investors, the same cannot be said about the prospect of dealing with the Philippines complex regulatory environment. The laws in the Philippines are complex and at times contradictory, making it important to find local employment experts who really know that they are doing. A PEO/EOR can be an excellent partner in this regard, not least beacuse having staff on the ground in a country helps manage the big picture of compliance as well as the finer details of day-to-day employment.
1. SkyExecutive: www.skyexecutive.global
SkyExecutive is a recruitment agency and PEO, meaning it can combine recruitment and day-to-day employment needs for companies looking to expand into the Philippines. This makes the process of expanding into the Philippines much more streamlined and removes the need to secure the input of multiple agencies. SkyExecutive prides itself on its network of local consultants, as that local expertise is vital for companies looking for a smooth transition into a new business environment.
2. Velocity Global: www.velocityglobal.com
A large international company with a widely-recognised and well-respected name, Velocity Global would make a strong PEO/EOR partner in the Philippines. The company demonstrates its expertise in this area not least through its online Resource Center, which contains a great series of papers and other information products on aspects of doing business in the Philippines. For companies considering several countries for expansion, that Resource Center is an excellent place to start research.
3. Global PEO Services: www.globalpeoservices.com
Global PEO Services offers a primarily tech-based solution for companies looking to manage the process of setting up abroad. Global PEO Services prides itself on offering an end-to-end solution that helps foreign investors with aspects from setting up businesses to managing payroll. With capacities in countries the world over, the company is having success in helping companies do that, but any company looking for a more bespoke solution should consider a PEO/EOR with local consultants rather than a technology product that can be used in any country.