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How to Hire Staff Through an Employer of Record in Colombia

How to Hire Staff Through an Employer of Record in Colombia

Expanding a business to Colombia with an Employer of Record (EOR) can be a very attractive option for growing companies wanting to enter the market with a small-scale investment. In particular, startups and other small companies (SMEs) benefit from the emerging economy in Colombia and hiring staff through a third-party organization can support a small-scale expansion.Colombia has one of the fastest-growing economies in Latin America. Foreign companies that are doing business in this country are likely to face challenges when acting in compliance with the local laws, especially if these companies must contend with a language barrier. Particularly, when companies are considering to expand by hiring staff abroad, they must understand and adhere to local regulations and bureaucratic processes for employment. In this case, Employers of Record can be redeeming support for foreign companies by overtaking administrative work. Understand the role of an Employer of Record in Colombia and how these organizations can facilitate your business expansion. What is an Employer of Record in Colombia? An EOR can often also be referred to as a Professional Employer Organization (PEO). An Employer of Record (EOR) is defined as an organization which works as a third party alongside other companies to hire staff on their behalf. When a company works with an EOR, the EOR becomes legally responsible for human resource-related activities, such as recruitment and hiring, payroll, insurance, visa procedures, and others. An EOR can often also be referred to as a Professional Employer Organization...

Manage your Business Risks with Due Diligence in Mexico

Manage your Business Risks with Due Diligence in Mexico

When doing business in Mexico, managing your business' risks with due diligence practices is essential to its success and longevity. Language and/or cultural barriers, understanding the market and the way of handling businesses are challenges that foreign business owners can face when expanding abroad. Buying existing companies or partnering with locals are key ways to reduce these challenges and get support navigating an unfamiliar market.However, it’s imperative to protect yourself when undertaking either of these processes in Mexico by conducting thorough due diligence checks of the companies and people you will surround yourself with.The purpose of this process is to minimize the risk present in a transaction by performing a detailed and independent analysis of the various business departments of the firm. Find out more about due diligence in Mexico and how to manage your business risks. Reducing risks and being prepared is key for starting off on the right foot in Mexico. Why is due diligence important in Mexico? Due to its strategic location and large population, Mexico is an attractive base for setting up a business in Latin America. Over the last decades, Mexico has attracted an enormous amount of foreign investment, and increasing numbers of large companies are establishing themselves in the country. These companies commonly enter the market by buying existing companies that hire local employees, or by partnering with other local companies.Despite this, commercial security remains a challenge for Mexico, and companies are encouraged to protect themselves...

Use PEO Services in Latin America to Continue Business During Restricted Travel Periods

Use PEO Services in Latin America to Continue Business During Restricted Travel Periods

Businesses may consider utilizing PEO services in Latin America to support their business continuity planning. Like many countries, Latin American governments are currently placing restrictions on travel and commercial activity as part of their measures to counter the spread of coronavirus, or COVID-19. Economies worldwide - and the businesses within them - are experiencing varying effects on their commercial activity from these restrictions. The short and medium-term future for businesses may be uncertain during this time. Multinational businesses or business owners that require a degree of travel to conduct business may feel particularly affected and struggle to continue commercial operations overseas.In this situation, a Professional Employer Organization (PEO) may be able to complement business operations by supporting companies' staffing needs abroad. We explain how using PEO services in Latin America as part of your business continuity plan can help overcome times of economic uncertainty.  Continue your business overseas with a PEO service provider in Latin America Many Latin American countries have decided to impose an entry ban for foreign nationals. Many Latin American countries have decided to impose an entry ban for foreigners to counter the spread of coronavirus or COVID-19. Additionally, many airlines have canceled their flights and therefore support the announced travel restrictions worldwide. As examples serve the USA, Colombia, European countries, Turkey, and others. These recently announced regulations put international companies to the test....

Overview of Agribusiness Opportunities in Brazil

Overview of Agribusiness Opportunities in Brazil

Find out the available agribusiness opportunities in Brazil and how foreign agribusiness actors can take advantage of them. Brazil is one of the BRIC countries and the fifth largest country in the world covering 8,511,000 square kilometers, with 209 million people inhabiting the country.Brazil is a country that is made for agribusiness. The country possesses pleasant climate conditions, geographical diversity including a coastline, low-cost labor, varied climates in favor of livestock and unexplored fertile lands. Brazil borders with 10 countries in South-America making them an important trade partner. Brazil is currently the ninth-largest economy in the world based on nominal GDP making them attractive for foreign entrepreneurs. What is the nature of agribusiness in brazil? Brazil is the world’s largest producer and exporter of sugar, coffee, orange juice, and soybean. Brazil’s significant influence on global agribusiness is undisputable. Brazil is the world’s largest producer and exporter of sugar, coffee, and orange juice, and the country is also a major world producer and exporter of products like soybeans, ethanol, poultry chicken, corn, pork, and beef. Brazil’s agribusiness industries represent 19% of the country’s GDP. Moreover, one-third of Brazil's employment in agribusiness and almost making up 44% of their exports. Agriculture and livestock have always been a major contributor to the country’s wealth.Over the last few years, the modernization of Brazil's agribusiness has increased significantly. For example, tractor sales surged by 50% over the last 11...

Expand with Expert Corporate Legal Services in Latin America

Expand with Expert Corporate Legal Services in Latin America

Latin America offers plenty of opportunities for foreign businesses. The region develops rapidly and attracts the attention of many overseas companies. Opportunity-seekers take advantage of unsaturated markets, a talented labor pool, and a steadily growing GDP. While expanding your market to Latin America, you have to coordinate through laws and regulations that can differ tremendously from your familiar environment. That’s why legal services in Latin America are invaluable. Outsourcing functions such as market research, human resources, and administrative paperwork reduces the pressure on your employees. Additionally, outsourcing functions eliminates the risk of non-compliance in a new market with unfamiliar regulations. When seeking externally provided legal services in Latin America, local experts take to handle your non-revenue related work.  Find out about the services and value of externally-provided back-office services in Latin America, and how they can support your successful expansion in the region. Why expand your business to Latin America? After LATAM has grown its GDP by 0.6% in 2019, the region is likely to rise by another 1.4% in 2020, topped by 2.1% in 2021, as forecasted by BBVA Research, a firm that publishes economic analyses since 1932.   Latin America offers business expansions for many sectors, but especially for global tech companies. By 2020, almost 100% of the Latin American population will have access to the internet via a mobile device. That is a market of 450 million people.  Latin America offers prosperous opportunities for tech companies...

How to Hire Staff through an Employer of Record in Brazil

How to Hire Staff through an Employer of Record in Brazil

Gain insight about how to hire staff through an 'Employer of Record' in Brazil. Brazil's large domestic market, strong economy, geographical advantage, and many other factors offer prime conditions for doing business in Latin America. The country has the ninth-largest economy in the world based on nominal GDP. Business and investment in Brazil is set to increase as the government works to develop its economy and attract foreign business activities. Getting appropriate guidance on the business requirements to hire employees is a complex process, and it's wise to engage with a knowledgeable third party. What is an Employer of Record? An Employer of Record, also known as an EOR, is an external partner of a company. This third party takes responsibility for the formal employment needs of your company. These companies are also known as Professional Employer Organizations, or PEOs. Through a co-employment model, an Employer of Record in Brazil can essentially manage your recruiting, hiring and payroll needs in full compliance with local law. They support companies who need to hire and manage staff in the country, but who aren't fully aware of their employment obligations in Brazil. An Employer of Record can organize work visas and permits for a company's employees in Brazil. An Employer of Record can also: Organize all visas and work permits for the employees, with the purpose to avoid delays or refusalsAdvise on and comply with labor laws in Brazil concerning local employee contracts and worker protectionsInform the hiring company of required notice periods, rules of...

How to Register a Trademark in Brazil

How to Register a Trademark in Brazil

Operating commercially in any country comes with a desire to protect your brand and creative energy. Register a trademark in Brazil with the help of a local legal expert, to protect your inventions and succeed as a profitable business. This includes conducting a trademark search in Brazil beforehand to ensure your inventions and ideas are unique. Brazil is a country that has become more attractive for foreign investment after its economy began to gain speed this year and due to its rich startup scene and innovation.  Brazil can be considered as the start-up hub of South America, and is the home of diverse fintech, agribusiness, gaming and other startups. In the midst of a commercial revolution where technology and innovation is king, many entrepreneurs are looking to register their trademarks and patents to secure their profits.  In this article, we touch upon key aspects to register a trademark in Brazil. Where to register a trademark in Brazil The governmental institution in charge of registering trademarks and granting patents is the National Institute of Industrial Property (Instituto Nacional da Propriedade Industrial, INPI)  INPI protects your trademark in Brazil, giving the trademark validity for a period of 10 years. This period can be extended for the same amount of time indefinitely. Key aspects to consider before registering your trademark To register your trademark in Brazil, you must understand and comply with the Industrial Property Law.  A trademark can only be registered if it is directly relevant to the business’ nature or...

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