Essential Corporate Services for Western Businesses in Asia

November 18, 2021

There are many western businesses that have entered the Asian markets, largely due to performing economies and the intention to expand into new markets and these companies rely heavily on corporate services supplied by a local provider. Outsourcing is the most cost-effective way to get things done when you manage a foreign business and you are planning to move into the Thai or Indonesian domestic market. Here are a few essential business services offered by an experienced provider.

Business Registration – Of course, when doing business in a foreign country, compliance is essential and with a leading expert such as Acclime, you can be sure of the best advice and prompt service. There are several types of business registration, some are trading and some are non-trading entities and with the best legal advice from a local expert, you can reap the many benefits of the correct type of business formation.
Compliance – As a guest in their country, you must make sure that all your business activities are in compliance with local laws and regulations; talk to a local firm that specialises in foreign business formation and they will make sure you remain 100% compliant. Your local partner works closely with you and can provide many essential services, while making sure that you follow the rules. If you are a mobile phone user, this service might be of interest to you.
Accounting & Taxation – Both of these areas are critical and outsourcing to local third-party providers is the best way to go. Deadlines must be met and the work can be done remotely by qualified staff, ensuring that your books are up to date and tax returns are filed on time.
Immigration – As you are a foreigner, you will need to apply for a visa that allows you to work; Asian countries have complex rules about foreigners working, as they look to find a balance between attracting investment and protecting the local workforce. Your local partner can facilitate working visas on your behalf, so you can focus on other aspects of your business.
Finding a Local Partner – There are several advantages to having a local partner and if you require nominees, there are corporate service providers that can source reliable people to act as nominees. It might be that you require a local partner who is willing to invest with you, in which case your legal partner can assist with this.
HR Outsourcing – If you do need temporary or permanent staff, your local partner can source reliable locals, carrying out screening on all applicants, making sure you hire quality employees. On the other hand, you might prefer to contract your office work out by the job to remotely located office workers, which works out much cheaper and you do not have the employer liability when you contract work to 3^rd party providers.

If Thailand is in your sights, check out the attractive concessions offered to foreign business investors by the Thai Board of Investment. Wherever your destination is in Asia, search online for a leading corporate services provider with an office in your chosen country and let them guide you through the process.