Global Employer of Record (EOR) in the Bonaire
What Is a Global Employer of Record?
A Global Employer of Record (Global EOR) is a third-party organisation that shoulders the legal and administrative responsibilities of hiring, employing, and managing staff on behalf of a client company. Unlike a standard Employer of Record, a Global EOR can operate across multiple countries, offering a unified solution for managing international employees.
This international talent engagement model is especially advantageous for companies expanding into new markets. Typically, such expansion would require establishing a local legal entity, a time-consuming process laden with bureaucratic hurdles. Global EOR circumvents this necessity. It allows companies to deploy staff in multiple jurisdictions without navigating the complexities of local employment laws, tax structures, and compliance norms. This streamlined approach eliminates the daunting upfront investment and operational costs of establishing a foreign subsidiary or business unit.
The flexibility of a Global EOR model makes it ideal for market testing and agile operations. Companies can quickly enter and exit markets, scaling their workforce up or down based on real-time needs and market conditions. Not only does this minimise risk, but it also preserves the company’s existing tax structure and corporate governance framework. The result is a more efficient, compliant, and strategic approach to international business expansion.
When Should You Rely on a Global Employer of Record
Global Employer of Record (EOR) providers offer a comprehensive suite of HR consulting services to support businesses with their global expansion efforts. These services can help companies navigate the complexities of international employment law, manage their global workforce efficiently, and ensure compliance with local regulations.
Here are twelve key scenarios where their assistance can make all the difference.
| 1 | Unhappiness with the Current Provider | You have hired an employee but are unhappy with your current service provider and looking for better options. |
| 2 | Contractor Compliance | You have decided to hire an independent contractor instead of a full-time employee, and you need help ensuring compliance with local labour, tax, and immigration laws. |
| 3 | Quality Improvement | You seek to enhance the quality of employment services while avoiding the risk and hassle of dealing with multiple service providers in different jurisdictions. |
| 4 | Budget Constraints | Your company can no longer afford to maintain a fully-fledged legal operation in the target country and needs a more cost-effective solution. |
| 5 | Temporary Projects | You have a temporary or short-term project in a foreign country that does not warrant setting up a full legal entity. |
| 6 | Hiring Foreign Workforce | You must hire a foreign workforce for a new international project and ensure legal compliance. |
| 7 | Business Transitions | Your company is undergoing a business transition such as mergers, acquisitions, or shutdowns, and you want to ensure smooth and compliant employee transitions. |
| 8 | NGO Staffing | You are an NGO that needs to hire professionals in different locations across the globe quickly. |
| 9 | Interim Employment Solution | You are in the process of establishing a legal entity in a foreign country but need an interim solution for hiring and payroll. |
| 10 | Scaling up Operations | Your company is rapidly growing and needs to hire in countries where you don’t have an established presence yet. |
| 11 | Remote Work Expansion | You want to leverage the global talent pool by enabling remote work, but you need help with the employment regulations in each worker’s country. |
| 12 | Reducing Legal Liability | Your company wants to reduce potential legal liabilities related to international employment and seeks expert assistance. |
All-in-one Global Employment Solution in Bonaire
Express Global Employment provides comprehensive services for building a global team, handling all aspects from hiring to compliance. Here’s what we can do:
| 1. Recruitment | 2. Global Mobility | 3. Checks | 4. Onboarding | 5. Payroll Administration | 6. Working Time & PTO Processing | 7. Benefits Administration | 8. Tax Administration & Reporting | Offboarding |
| Talent skilled in highly specialised areas | Employee Work Visa and Work Permit sponsorship | Health checks | Employment Agreement drafting | In-country registration with statutory bodies | Working hours | Mandatory Benefits | Tax Reporting frequency and requirements; | Employment agreement termination: |
| Executive search | Dependent Visa | Criminal record checks | Compliant worker onboarding on your behalf | Day-to-day payroll management | Overtime | Health insurance | Employer taxes & contributions | Dismissal – by the employer |
| Contingency workforce | Visa extension | Background checks | Account setup in the payroll and HR system | Monthly pay slips or other pay frequency | Public holidays | Workers’ compensation | Employee taxes & contributions | Resignation – by the employee |
| Application for a sponsor license for a foreign national | Education checks | Employee data entry and records maintenance | Accruals | Annual leave | Unemployment insurance | Withholding tax | Termination by mutual agreement | |
| Relocation assistance | Managing probation periods | Allowances | Parental leave | Voluntary Benefits | Local tax payments and reporting to local authorities | Notice period handling | ||
| 13th and 14th salary | Sick leave | Share plans for executives | End of financial year reporting | Final settlement & severance payments | ||||
| Additional leave | Bonuses & Equipment provision | De-registration with statutory bodies | ||||||
| Expenses reimbursement & business trip processing | ||||||||
| Health insurance, dental treatment |
Global EOR Helps Test Foreign Markets without Local Incorporation
As a business owner, you may feel overwhelmed by the tax implications of expanding your business overseas. However, new ideas exist to reduce complexity and ease the burden on busy entrepreneurs. In this article, we’ll explore some of the best ways to reduce the complexity of tax planning for international expansion.
If you’re thinking about using a Global Employer of Record (EOR) talent engagement model for your business, it’s becoming increasingly popular. Here’s how it works: a third-party company operates a local entity in each jurisdiction where it offers services. This can be a great way to comply with various laws and regulations.
Here’s how the Employer of Record arrangement works. A new business owner approaches a global EOR company with the intent of hiring a remote worker based in a different jurisdiction. Rather than the business owner having to establish a new company or register a branch in Bonaire, the employee can be employed by our local EOR company in Bonaire. All attendant costs associated with this arrangement are then charged to the client company for a fee. This can be a more efficient and cost-effective way of doing business for both the employer and the employee. Many start-ups like this idea because it gives them the flexibility to focus on getting their business up and running.
All-In-One Global Employment Solution in Bonaire
Employing globally is no longer a maze of local setups and legal hurdles. With Express Global Employment, you can build a global team seamlessly. Benefit from our comprehensive, compliant, and efficient global employment solutions that eliminate the complexity of international hiring. From contract generation to seamless integration, we ensure that your expansion is as limitless as your ambition.
Global Mobility Support
Our global mobility support is about turning complexity into simplicity. We expedite onboarding and immigration procedures, ensuring your global talent is ready to engage and deliver results swiftly. By eliminating red tape and administrative burdens, your team can focus on what they do best, propelling your business forward in every corner of the globe.
Global Payroll & Benefits, Handled
Financial well-being is critical to employee satisfaction. That’s why we navigate the intricacies of international payroll and benefits with expertise. Our solutions offer your workforce a competitive and fully compliant financial package, wherever they may be. With Express Global Employment, you can assure your team that their compensation is globally competitive wherever they are.
Borderless Expansion, No Entity Needed
Launch your workforce in 190 countries without the burden of establishing local entities. Our all-in-one global employment solution allows quick, compliant onboarding and talent management. You can immediately scale up your operations and seize international opportunities with Express Global Employment as your guide.
New Markets. Zero Risks.
Expanding your business’s horizons should not multiply its risks. Protect your global ventures from compliance pitfalls with our expert guidance. We manage the complexities of employee classification and permanent establishment risks, ensuring that your expansion is secure and strategically sound. With us, new markets mean new opportunities, not new worries.
Global Payroll Calculator Helps You Streamline Global HR Operations
By creating the Global Payroll Calculator, we’ve done the global payroll and tax math and compliance for you.
- Eliminate the time-consuming and costly process of doing your manual calculations.
- Gain instant access to up-to-date salary cost breakdowns based on local tax laws and regulations and update in real-time with the latest employment and tax legislation changes across 190 countries.
- Stay compliant on all international payroll matters, including local taxes, labour rules, and benefits.
- Minimized the risk and global cost-of-hire.
Global EOR (Employer of Record) Services: Save Up to 75-80% of Employee Management Cost
| Average Cost & Time | Our Solution * | |
|---|---|---|
| Time to Market | 10+ weeks | 72 hours |
| Legal Advisors Fees | $ 10 000 + | …………. |
| Official Employment & Benefits | $ 20 000 + | …………. |
| Incorporation & Liquidation Costs | $ 11 000 + | …………. |
| Bank Account Setup | $ 2 000 + | …………. |
| Maintenance costs and in-house staff to manage the foreign entity, payroll setup, and HR operations administration. | $ 25 000+ | …………. |
| The approximate total cost of new market entry** | $ 74 000 + | $ 15 000 |
* Per one Employee
** Costs vary from country to country