COSTS

Creating a local business entity has many costs such as fees for entity registration, which varies greatly depending on the country. Additional costs include:

• Employment registration

• Entity tax compliance

• Bank set up

• In-country capital requirements

• Legal & financial council

• Internal staff costs and

• Payroll

Taking all of this into account, the average cost for setting up
in a new country is around $ 80,000.

On the other hand, when you use an EOR you bypass the need to create the entity and the other associated costs. With an EOR, the costs are just a fraction of what would be otherwise needed to incorporate a business in a new country. In average you will be paying 10,000.

TIME

Creating a local entity can be a long process in most countries.

On average it can take up to 20 weeks. With an EOR, the entire process is complete within weeks. As there is no setup, it’s only a matter of onboarding and paying your new employee, which the EOR can also do for you.