For companies that require an end-to-end solution when expanding into a new country, we offer HSP Overseas Direct®, a technology-enabled service bundle which incorporates all implementation, recurring, and compliance services required in your countries of operation. HSP Overseas Direct is supported by a local, dedicated Senior Account Executive, providing headquarters-based Finance, HR and Legal personnel with a single point of accountability.
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. Tasks usually include the establishment of 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 employees overseas employees will hit the ground running with the core business objectives you seek to have completed, in full compliance with all legal requirements. Implementation services are provided for a fixed one-time fee.
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. Recurring services a provide for a fixed monthly fee, based on the number of employees.
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. Compliance services are provided for a fixed range of annual fees, since requirements will tend to vary based on the actual activities in-country over the course of the year.