PEO SERVICES IN SINGAPORE

Many opportunities attract foreign companies to enter the Singapore market. Although Singapore’s nominal Gross Domestic Product (GDP) in 2021 ranked only 38th in the world at 378.6 billion US dollars, the population is among the world’s most prosperous, with a per capita GDP of US$66,263, ranking sixth globally and one of the highest among Pacific Rim nations. Our PEO services in Singapore can support your International Expansion by allowing you to start your Singaporean business in days. 

Work alongside our PEO recruitment specialists to handle every aspect of compliance. Employers can depend on our in-depth knowledge of Singapore and how to navigate its challenging legislative issues that revolve around the Companies Act and Employment Act.

Why choose a PEO when expanding into Singapore?

A Professional Employer Organisation offers you a launchpad for Global Expansion. By using a PEO in Singapore there is no need to set up a legal entity including all tax registrations and complicated paperwork, and you can start doing business within days. At Bradford Jacobs, we made it our goal to gain expert inside knowledge on Singaporean payroll, taxes, labour laws, and other local regulations. By utilising our sources, you can start your expansion hassle-free and at a low cost. We can provide specific support for payroll, taxation, Human Resources, and compliance issues as you expand your operations and enforce your workforce.

If you are ready to start your global success with us, you can add new international talent to your company within days. We have the connections and network to locate talents that meet your needs and wishes on all levels. Without the need for you to create a Singaporean subsidiary, your new employee can benefit your business in Singapore in days instead of months. Needless to say, we ensure your company complies with all regulations and laws, areas to which can incur severe penalties would you fail to adhere. Your chosen candidate is hired through our agencies in Singapore and remains under your day-to-day control.

How does a Professional Employer Organisation work in Singapore?

Your business is not like any other, and we get that. Your international plans require solutions that match these plans, your goals, and your business strategy. Therefore, our PEO services provide a consultative approach and a tailor-made solution because we know one size does not fit all.

A PEO works with Employer of Record (EOR) agencies. This agency can function as the employer of your new workforce. Our EOR agencies in Singapore enable you to operate staff in-country without worrying about HR (Human Resources) services, tax, payroll, hiring, firing, or adapting to changes in local regulations and employment laws. The EOR will take on these tasks and will be fully responsible.

When you hire us as a PEO, we agree and establish a contract between you and Bradford Jacobs. We also agree with your new employee in Singapore and signed an employment contract with this person. Your new workforce’s daily workflow and tasks will be under your guidance. Although we function as your employee’s legal employer, they perform duties for your business as a part of your team.

  • You want to deploy an existing employee or recruit new talent in Singapore
  • Once the candidate is selected, Bradford Jacobs steps in as their EOR through our Singaporean entity. We guarantee compliance with Singaporean employment contracts, payroll, HR, tax, required visas or work permits
  • Within a few days, your company will have an international presence in a new market, in a prime position without the risks, hassle, or expenses of setting up your subsidiary
  • You will control the employee daily while we manage all work-related registration formalities. Our consultants inform your employee about their holidays, benefits, and entitlements policies
  • All approved declarations and completed timesheets are sent to us by the employee. We will invoice you, and once the payment is completed, we will deduct all contributions from the authorities and transfer the balance into the employee’s account.

What are the benefits of using PEO services in Singapore?

When expanding your business into Singapore, there are many opportunities to seek and explore. With us as your trusted partner, you can solely focus on these opportunities without worrying about the following:

  • Registering with the Tax Office
  • Registering with the Social Security
  • Setting up a bank account
  • Creating employment contracts
  • Applying for special expatriation status (if applicable)
  • Calculating monthly salary and producing payslips
  • Researching available tax-free allowances
  • Submitting wage tax returns and national insurance forms
  • Corresponding with involved parties
  • Annual accounts, administration, and year-end statements
  • Creating payment schedules for wages tax, national insurance, and net wages
  • Personal income tax returns

Our PEO and EOR employment solutions enable you to create and maintain your mobile workforce legally and officially employed in Singapore without establishing a legal entity in-country. No expensive, time-consuming processes with the risk of not complying with foreign laws and regulations, but an efficient, fast, and stress-free alternative to conquer new markets.

You select your candidates, and we do the rest. We provide:  

  • Customised solutions for all nationalities moving to work in Singapore
  • Local specialists providing you with ongoing business support
  • Extensive EOR expertise ensuring that your employees benefit from any treaties on expatriate tax, double taxation treaties, reclaimable expenses, or social security agreements
  • Employees can use their accountant and cover the fees to the level our accountant charges.
  • One-to-one contact with our consultants

Benefits for Employers when using PEO services in Singapore

  • A rapid solution to onboarding employees for your international expansion
  • Total control over operating budgets as all costs are detailed at outset for full transparency
  • Minimal paperwork or red tape. Since you do not need to set up an entity, you can start operating in Singapore within days
  • Expert guidance with employment and compliance issues
  • Reduced accountancy and legal costs
  • Statutory professional insurance

Benefits for Employees when using PEO services in Singapore

  • Worry-free local employment contract compliant with Singaporean regulations
  • On-time and 100% accurate salary payment
  • Great benefits
  • One-to-one professional HR advice
  • Updates on tax and compliance regulations

LOOKING TO EXPAND INTO SINGAPORE?

For more information, download our free guide or get in touch with our consultants here