Thailand’s export-dependent economy is optimized for many first-time business entries. Steady economic growth, status as a newly-industrialized country, and positive development indicators are appealing. However, the country’s complex rules for setting up a business subsidiary can be intimidating. Subject to Thailand’s Foreign Business Act, new companies can face many restrictions on the type of industry and the management structure. In addition, each of the country’s 76 provinces can have separate laws and rules.
Their capability to hire and assign employees in Thailand, as well as handle the payroll and other aspects of Human Resources as an existing subsidiary is ideal for fast, simple business launches. We’ll look at these special benefits and list the best Thailand PEOs/EORs for your needs.
Why Rely on a PEO in Thailand?
As mentioned, the complex subsidiary laws are a compelling reason to work with an established PEO. On another level, the PEO/EOR solution is invaluable for new business success. Understanding the culture and traditional employee benefits can be difficult for foreign companies. As these PEOs operate locally, they not only manage administrative aspects of your business, such as hiring, payroll, contracts, and ongoing staff support – but also ensure good employee relations.
Best Thailand PEOs & Employer of Record
New Horizons Global Partners
New Horizons Global Partners are leaders in providing comprehensive support services such as staffing, payroll, building rental, and more. For new Thailand businesses, their local presence is a major advantage. With a diverse worldwide portfolio, including Fortune 500 companies, Shanghai-based NHGP is flexible and responsive in helping launch new market entries. Their full suite of PEO/EOR solutions includes access to industry experts, end-to-end employee roster management, Thai-compliant payroll systems, and more.
With a worldwide client list and automated payroll services, Papaya is a simplified PEO solution for many industries. Their workforce support is available for over 100 countries, including Thailand. Using their SaaS system, Papaya is able to operate largely online. Their localized insights and centralized management are efficient for new companies working with local specialists in Thailand. By moving many human resources elements to the web, more established businesses can then simplify their payroll needs.
American-based Velocity Global has become a well-known source of end-to-end services for expanding businesses. They provide a helpful online Resource Center for information on global expansion, the important details of PEOs, and the best ways to ensure compliance with overseas employment laws. Since 2014, Velocity Global has worked with over 180 countries, including Thailand. They pride themselves on their knowledge base and fast market entry – offering expedited turnaround times in a variety of Asian nations.