- Overview: Colombia
- Expand without a company set up
- Global PEO and payroll
- Global HR Compliance
- Work permit for hiring expats via PEO
- Contractor vs. employee: which is better?
- Global Payroll Calculator
Global PEO and Payroll in Colombia
Many companies seek global expansion, but they often get bogged down by the complexity of international regulations. They might not know where to begin or even how to find the right partners to help them navigate this new territory.
Or, they may be operating in a well-established market with no foreseeable near-term plans for growth outside their home country and therefore may not see the point in an international expansion.
Some companies have invested the time and money necessary to create a robust, global infrastructure that meets the demands of their business model. And some companies have been lucky enough to grow internationally by following a few rules of thumb.
It’s not hard to see why so many businesses are drawn to expand overseas. But it’s important to remember that corporate and indirect tax, immigration, employer obligations, and more laws are constantly evolving. What may have been widely accepted ten or even five years ago as a rule of thumb may no longer apply. Permanent establishment laws, for example, are changing rapidly to account for the digital economy and to stem the tide of base erosion and profit shifting.
A reliable global employment solution like Acumen’s Global PEO and Payroll service can take a substantial burden off your shoulders so you can focus on running your company. Partnering with Acumen International as a global Professional Employer organization (PEO) provides you with the local knowledge and support you need to conduct business in Colombia without concern for legal and compliance risks.
What is a Global PEO (Professional Employer Qrganization)?
A PEO, or Professional Employer Organization, is a company that specializes in handling human resources for other businesses. PEOs can provide a wide range of services, such as
- payroll processing,
- benefits administration,
- tax reporting,
- workers’ compensation insurance,
- unemployment insurance claims management,
- employee screening,
- legal and regulatory compliance assistance,
- HR consulting,
- immigration services,
- other financial services.
Businesses that partner with a PEO can outsource many of their HR needs and focus on running their core operations.
With a robust global PEO, you can make global employment decisions quickly and confidently – without getting buried in immigration or labor compliance work. You can quickly and easily employ your pre-selected world-class talent from any country. Perhaps more importantly, with our Global PEO services, we minimize your permanent establishment, employee immigration, or misclassification risk – leaving you free to focus on running your business.
With a Global PEO, you don’t need to worry about the cost of maintaining a workforce, recruitment, securing visas or work permits for foreign hires, issuing documents, managing payroll and employee benefits, collecting payroll tax, and paying personal and corporate taxes.
Entering into a partnership with a global PEO who is committed to helping provide excellent employment opportunities. This partnership will enable you to dramatically expand your services and reach in any part of the world.
Why Partnering with Global PEO Is a Win-Win Solution For Businesses
A PEO can be extremely beneficial to any organization, large or small. By removing the burden of HR management, a PEO can help an organization to focus on its core objectives and become more productive and efficient. In today’s challenging economic climate, a strong PEO can give your organization the competitive edge it needs to succeed.
Working with a global PEO (Professional Employment Organization) can save you time and money when entering new markets. A global PEO is an organization that helps businesses manage the administrative tasks related to local employment, such as payroll, benefits, and compliance.
PEO clients can often offer their employees a more comprehensive benefits package than those who don’t. Such benefits may include healthcare, dental, and vision coverage, or retirement plans PEOs also offer retirement plans and other financial benefits.
With Acumen in your corner, you can quickly and easily onboard and compensate your employees without risk of legal repercussions.
Our Global PEO&Payroll | Client | |
---|---|---|
Employment risks mitigation | ||
Tax compliance & payroll processing | ||
Incorporation costs | no need for own entities |
|
Effort | 90% | 10% |
Coverage | 190 countries | 190 countries |
A Global PEO Can Help You Replace Numerous Vendors
When it comes to managing the employment side of your business, there are many options available to get the help you need. An ever-growing number of vendors can assist you with various aspects of your human resource services, including payroll, employee benefits, and more.
Working with a professional employer organization (PEO) is a great way to get all the help you need in one place. PEOs can manage all of your employment-related needs, from taxes and retirement plans to background checks and employee discounts.
Partnering with a PEO saves you time and hassle by consolidating all of your HR needs into one relationship. This also gives you peace of mind knowing that experts are handling everything for you so that you can focus on running your business.
The Remote Work Revolution & How PEOs Can Help You Adapt
As workforces continue to evolve, they demand that leaders like you shed the old work models of yesteryear and adapt to the new ones built in front of your eyes. Global PEOs are here to help you navigate this changing employment paradigm, but only if you are willing to have an open mind about where your business is going.
Leadership teams across the globe are still struggling to figure out the best way to manage their internationally distributed workforce. Global PEOs are uniquely positioned to help companies like yours deal with these big changes, including the shift to remote work. Just a few years ago, the idea of a completely remote workforce was unheard of, but today it seems like a permanent reality for many.
Global Payroll Management & Compliance Considerations
Managing employees in different countries can be a complex and challenging task. Employees may need to be registered and taxed differently in each country, and there may be other laws that need to be followed. This can make it very hard to keep track of everything and ensure everything is done correctly.
When it comes to payroll, there are many different regulations that you must follow to avoid penalties or litigation. Each country has its laws and regulations, but some standards apply internationally. You must know and adhere to tax deadlines, withholding and reporting laws, and regulations requiring employee tax slip signatures. If you fail to adhere to thesepayroll compliance rules, you could face severe penalties that could negatively impact your business.
Global payroll management is a complex process that requires careful consideration of various factors. Payroll specialists must consider local regulations and taxation requirements, which can be time-consuming and difficult to navigate. However, by addressing some key challenges and partnering with a Global PEO, organizations can ensure compliant, accurate, and timely payments.
Global Payroll Calculator: Accurate Global Employment Cost Estimation
When hiring employees and contractors across the globe, you may not be choosing the most cost-effective and business-friendly country.
- Do you know which country is the most cost-effective place to hire employees?
- What are the costs of entity establishment and legal representation?
- What are the payroll costs and management fees?
- What are your ongoing annual tax compliance costs?
- Are you fully aware of banking implications?
- Did you know that labor laws and hidden costs could make your company less efficient when choosing a country to run your business?
- Did you know that there could be a more cost-effective country to hire employees in and save up to 50%?
This is because countries have different labor laws, compliance, and tax regulations. What if, instead of limiting your company’s international expansion by cutting through the jungle of local regulatory compliance, tax, labor, and immigration requirements, you could have all the information of 190 countries at your fingertips?
Acumen International offers the Global Payroll Calculator to help businesses understand the compliance requirements for conducting business in a new country. Acumen’s research team tracks developments in 190 countries around the globe. It provides up-to-date data on local regulations related to tax, payroll regulations, benefits, hiring practices, compliance requirements, and other labor-related factors that impact an employer’s bottom line. This valuable information makes the Global Payroll Calculator an invaluable tool for businesses looking to expand internationally.
Global Payroll Calculator helps companies reduce labor costs by providing up-to-date information on hiring, compensation, and tax requirements. It is also an ideal tool for quickly locating employees in any country.
International Global Payroll and Taxation in Colombia
Social security contributions. Every employee whose work contract is governed by Colombian labour regulations (with the exception of some foreign employees who may become voluntarily affiliated to the pensions system) must be affiliated to the integral social security system, which includes the:
- general pensions system
- health social security system, and
- general system of professional risks
13th salary in Colombia
13th salary bonus is mandatory and required by the law.
How Acumen’s International PEO and Payroll Service can Benefit Your Business in Colombia
Compensating your local and expat workforce in Colombia and closely adhering to Colombian taxation requirements can divert your attention and resources from activities that help your business grow. A reliable global employment solution like Acumen’s Global PEO and Payroll service can take a substantial burden off your shoulders so you can focus on running your company.
Outsourcing the administrative and compliance tasks involved in employee payroll is one approach, but we have a better solution. Acumen International offers a global PEO and payroll solution that goes beyond outsourcing. We hire and compensate your global workforce on your behalf, and take care of all the details of payroll while ensuring full compliance with Colombian labor and taxation laws.
Acumen International – Your Single Point of Truth and Global Employment PEO Solutions Provider in Colombia
- Immediate service coverage in 190 countries.
- Both a single point of contact and a dedicated account manager for your project for all target countries.
- A single contract for all in-country services (employment, immigration, legal, etc.)
- A single PEO provider assumes full responsibility for your international employees in multiple countries.
- Payments are made within the UK or to the UK bank company account.
- Fully compliant standardized procedures and reporting systems.
- Standard payroll breakdowns for all target countries.
- As soon as we receive your request for a project in any country, we will send you a payroll breakdown and offer within 2 working hours.
- Full 100% fee money-back guarantee for employee or contractor payment delays.
- Tailored and 100% compliant employment contract drafts.
It is important to note that Acumen does not provide international global payroll services as a standalone solution, but only as a part of our global PEO and Payroll solution.
Our comprehensive global PEO and payroll services are just some of the benefits of partnering with Acumen International. We make it easy for you to achieve your business goals in Colombia by officially employing and compensating your best selected global talent – both locals and expats – without concerns for legal and compliance risks faced by global employers.
Disclaimer: Any of the above information is subject to changes imposed by Colombian laws. To get the latest updates on taxation in Colombia and in 190 countries worldwide, contact Acumen’s team of global employment experts.