Companies who are looking to start business operations need to make sure they are compliant with local laws and processes. If you are hiring staff using an employer of record (EOR) in Portugal could help you stay compliant, getting your business started faster and more conveniently.
Hire Employees in Portugal
Many companies first assume that they have to set up their own entity to hire employees and start operations in Portugal. With the convenience of an employer of record (EOR), your business no longer has to incorporate a legal entity to become operational.
With an EOR your company only has to communicate with their in-country partner, who then handles all the administration necessary to keep your business compliant.
INS Global’s already established structure allows our clients to focus on running their business and not have to worry about the administrative part. Our HR consultants provide you with the support needed to make your new venture in Portugal a success.
The Benefits of Outsourcing an EOR in Portugal
For business managers and entrepreneurs considering taking their product or service to the Portuguese market, you need to employ skilled people to help your business be a success. Nowadays, with more businesses having a global outlook, the benefits of outsourcing an EOR are fast being realized. Some of the most important benefits include:
- Fast access – Using an EOR is one of the fastest and most efficient ways to enter a new market. A business wanting to enter the Portuguese market can be set up in a matter of weeks.
- Simple setup – To get your business started, you do not need to set up an LLC or another type of entity. You will be operating through your employer of record who already has a correctly established entity.
- Expert consultants – By using an EOR you also get access to their HR professionals, who can help you navigate your way through all your human resource and administrative issues.
- Cost effective – Setting up an entity requires an investment of time and resources. With success not being guaranteed in any market, an EOR is an ideal solution for those companies wanting to enter the market, without any long-term commitments.
We Take Care of The Risk
Doing business in the past was not as easy as it is today. One of the longstanding myths in business is that you need to incorporate a company to become operational in a new market. Using an employer of record in Portugal allows you to focus on your core business, while INS Global assumes the risk. We become responsible for your staff in Portugal, as we handle your onboarding, payroll, and other administrative issues.
How Does the Portugal EOR Work?
INS Global has a step-by-step process which includes:
- Initial consultation
Our experts confirm the specific requirements for your project and make sure the candidate is eligible to be hired in Portugal. An employment contract will then be drafted according to the terms we agree upon.
If you approve of a candidate, the next step is to onboard the candidate and register them with the local authorities. The candidate may be required to register with the local labor bureau and tax authorities in order to legally work in Portugal.
Once the employee has been registered, the monthly payroll can be set up. INS Global then ensures that the candidate’s monthly deductions including income tax, social security, and all deductions are made and submitted correctly.
- HR management
INS Global takes on all employer related issues and is responsible for the hiring, onboarding, payroll management, contract negotiations and more.
Does Your Business Need our Employment Solution
With the benefits that come with using an EOR, there are various types of businesses that are able to use this kind of resource. The employment solution will be useful for businesses such as:
- Small to medium enterprises (SME’s) – an EOR is suitable for any kind of small and medium sized businesses that wishes to enter the Portuguese market.
- Large businesses – this solution is suitable for large businesses who wish to open a smaller office or deploy a number of employees in Portugal.
- Sales offices – for businesses who do not want to set up an entire operation but only carry out sales in the region.
- Research purposes – if a company or institute would like to carry out short or long term research, an EOR negates the need for them to setup a company or entity.
While suited to businesses across different industries, an EOR may not the best solution for large enterprises (more than 500 staff members) or medium sized companies who wish to spend a long period of time in the region. An EOR in Portugal can serve as a good intermediary solution for such companies to start their operations, while implementing a long-term plan.
INS Global in Portugal
INS Global is PEO company that helps businesses expand internationally. They have helped hundreds of companies grow their business in Portugal. Their services include company incorporation, PEO, recruitment, and more. INS Global has established systems that aim to help you get started in Portugal or any new country you intend to carry out your operations in. Get in contact with us today for expert expansion advice.