When you expand your business especially internationally, there is that possibility of establishing a new corporate entity, and the process of hiring, staffing and many more.
Somehow, when you do decide to expand in counties in Latin America, you can expand your business in a more convenient way without the need for establishing a new corporate entity. This is due to the availability now of Employer of Record or EOR, that is commonly utilized by those companies wanting to expand internationally to take care of the legal responsibilities of employing your employees and all formal employment tasks in the country.
There are countries that have their own employment, payroll and work permit requirements for non-resident companies and these can be a burden when meeting such requirements, thus, Employer of Record come in handy as it helps you overcome the regulatory and cost hurdles if you decide to employ workers in the country of choice.
Employer of Record functions primarily as your intermediary and will work as the registered employer of the employee hired locally, and deals with establishing the legal and regulatory requirements only and you as the original employer looks into the daily operational work.
In general your HR or administrative department is being handled by the EOR and according to your kind of business you can choose an EOR in the likes of International Professional Employer Organization PEO, Foreign Subsidiary as a Service (FSaaS), Administrative Services Organization (ASO), and the Business Process Outsourcing (BPO). These Employer of Record have different functions and provisions, so it is best to know what is the most appropriate Employer of Record that will work for your kind of business and that can give you all the benefits that can be an advantage to your company.
So then, you can generally see that with the use of Employer of Record, your company or business will have the best benefit in reference to getting the convenience of access to immigration compliance, no need for you to go for local incorporation, and it will be easier of running payroll in the host country, which all are positive benefits that will work pretty well for your goals.
This is absolutely a very good option that will be beneficial for you and can be efficient as well as cost-effective and secure way of bringing your own business to international countries and if you want to dig in deeply on how this can be of importance to you, you can check on websites that offer this kind of service to which country that you prefer, especially in the Latin American countries and know what you need to do.