Employer of record in Australia allows investors and entrepreneurs to quickly set up a local team, without the need for a legal entity.
This is a great option for anyone looking to start a small-scale, short-term business or who only has a small staff. It also gives investors the chance to get to understand the market before they make a bigger commitment. company formation in Australia.
An employer of record can also be referred to as an EOR or a professional employer organisation (PEO), while a PEO company will often advertise its services under the name payroll outsourcing. As such, it might also be called a PEO-payroll company.
Australia is one of the most prosperous countries in the Asia-Pacific region and has enjoyed more than 20 years of economic growth. The country is well-known because of its strong global trade ties. It has free trade agreements with many major economies as well as regional associations like the Association of Southeast Asian Nations.
It is also recognized for its favourable business climate, ranking number 14 out of 190 countries in the World Bank’s Doing Business 2020 report.
The country has significant agricultural, mining, manufacturing, and export sectors. Key exports include gold, iron ore and aluminium.
Nevertheless, the services sector is thriving accounts for more than two-thirds of gross domestic product(GDP), which was close to $1.4 trillion in 2019(All figures in USD).
If you are interested in starting a business in this lucrative market, it is a great idea to hire staff through an Australian employer of record.
Continue reading to learn more about the benefits of choosing this outsourcing solution. contact us nowTo learn more about how we can assist you in achieving your commercial goals, click here
What can an Australian employer of record do for you?
An Australian employer of record will hire staff through its local entity. This will ensure that you have local employees in no time. Depending on the profile of your employees, it could take several weeks or even days.
These employees will be officially contracted by your employer of record. However, you will retain full command over their workloads, schedules, and reports, and they will report directly back to you as if you were their employees.
If you are looking for people to fill executive or skilled positions, your employer in Australia will have a strong understanding of the best educational institutions in Australia. This will allow them to identify the best candidates.
You also get the benefit of hiring through an employer of record in Australia.
An EOR guarantees your compliance
Your Australian employer of record will have a deep understanding of the local regulatory system, whether it is labor, employment, or corporate. They will also be aware of any upcoming changes to such legislation. This will ensure that your operations are in compliance with local laws.
This will include setting up working hours and providing leave and holidays in accordance to the law, drafting and implementing contracts that comply with regulations, and providing all information you need about occupational risks and other important aspects of employee welfare.
While you will not be personally liable for any infringements of these matters, if your plans call for a deeper commitment to market later on, you will be able to benefit from maintaining your good standing before authorities. This will allow you to keep up with proper compliance.
Employer of record in Australia: Key benefits
There are many benefits to hiring through an employer of record in Australia.
- Rapid establishment, via the EOR’s locally incorporated entity, means you can have staff in days or weeks.
- Lower costsIn the event of a limited- or short-term operation, there is no need to liquidate or establish a company.
- Local knowledgeBecause of their years of experience and strong connections, you can be sure to find the right staff member for your needs.
- Risk protection– from the guarantee of compliance with all applicable laws and regulations.
- Market familiarityYou will get this information while you are working with an employer of record in Australia. This will allow you to make an informed decision about how to deepen your commitment to the Australian market.
Biz Latin Hub is your employer of record in Australia
Biz Latin Hub’s multilingual team has the experience and knowledge to act as your employer-of-record in Australia. We offer a wide range of back-office services including company formation, accounting & taxation, legal servicesVisa processing and issuance. hiring & EORservices, so that we can continue supporting you should your commitment to market-related activities.
Contact us today Find out how we can help you in Australia, New Zealand or any of the 16 Latin American and Caribbean countries where we have teams.
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