As the leader in international business software and services, HSP has developed a unique methodology for setting up and supporting clients in their overseas locations. It all starts with a local, dedicated Senior Account Executive (SAE) whose role is to steward you through the various projects arising with operations overseas, and serve as your single point of accountability.
As a first step, your SAE will set you and your team up on HSP OverseasConnect® our cloud-based technology solution that serves as a common platform for finance, HR and legal data across all of functions and geographies. Once your engagement with HSP begins, your SAE will leverage the capabilities of a number of project specialists across four service types:
Most companies entering a new country for the first time ask HSP to provide entity registration services. These services differ by country, but all serve the same purpose: to ensure that you are able to conduct business legally in the overseas location. Typical tasks include establishment of the local operations, typically via a corporate subsidiary, branch office, or Non-Resident Employer (NRE) registration, filing of all required documentation with local authorities, setup of a local bank account and registration for taxes.
As part of its HSP Overseas Direct service, HSP will also setup the required accounting and payroll records. These tasks ensure that your overseas employees will hit the ground running with the core business objectives you seek to have completed, in full compliance with all legal requirements.
Recurring Services: HSP Overseas Direct
All recurring services required to operate in-country are provided as part of the HSP Overseas Direct technology-enabled service bundle. Payroll, vendor payment, expense reimbursement, cash management, local bookkeeping, and completion of the monthly reporting package are all included for a flat monthly fee. Monthly reporting packages include balance sheet, P&L, trial balance, G/L transaction detail, cash and other account reconciliations and, if applicable, an inter-company service invoice. Fees are based on the number of employees in each country. All HSP Overseas Direct customers receive two user licenses for HSP OverseasConnect®, HSP’s cloud-based application for simplifying the management and control of international operations.
HSP’s compliance experts spend their days worrying about deadlines so you don’t have to. Supporting clients across multiple countries, they combine sophisticated technology with local knowledge to ensure that required filings, including corporate income tax returns, year-end payroll returns, statutory local accounts, etc, are filed on time and with the right authorities. They also create and manage a compliance calendar, providing clients with visibility as to what is required throughout the year, monitor technical updates and proactively alert you to any changes in filing requirements.
These compliance services are included in HSP Overseas Direct and are provided for a fixed range of annual fees, since actual requirements will tend to vary based on the actual activities in-country over the course of the year.
Advisory Services: Ad hoc, operational advice and guidance from HSP’s team of expert technical advisors
Our clients have a lot of questions about their international operations: best practices for benefits, employment laws, intercompany service agreements, permanent establishment risks, transfer pricing, VAT taxes, and data privacy requirements, to name a few. For answers, they turn to HSP’s team of Advisory Services specialists, comprised of senior executives with real world experience, ex-big 4 CPAs and auditors, lawyers, VAT specialists, and HR professionals. HSP Advisors deliver advice that is operational, not theoretical – we understand that you need to put our guidance into action. Our clients appreciate our practical approach, cost-effective, typically fixed-price quotes, and willingness to get our hands dirty. The goal is simple – our senior Advisors work to earn your lasting trust and build an enduring partnership.