Hiring remote talent in emerging markets around the world is a proven way to grow your tech company with elite talent — and partnering with an employer of record is a proven way to find, recruit, onboard, and manage global talent. When you partner with an employer of record provider, the EOR takes on the legal responsibility of the remote employees you hire, ensuring your company remains compliant with local labor laws and protecting your company from non-compliance errors and penalties.
Truss may prove to be the solution for your tech company as an established and trusted employer of record provider in emerging tech markets like Central Asia and the Caucasus. With years of experience as an employer of record and with legal entities in countries like Uzbekistan, Kazakhstan, Armenia, and Kyrgyzstan, Truss has the experience and knowledge that growing tech companies need. Tech companies on the hunt for elite talent in emerging markets may have their sights set on Kyrgyzstan, and we want to highlight the key benefits of hiring with an EOR in Kyrgyzstan.
READ MORE: Why Hire Remote Tech Talent in Kyrgyzstan
How Your EOR Benefits Tech Companies Hiring Remote Employees in Kyrgyzstan
Establishing a legal entity in a foreign country takes time and money that many tech startups do not want to spend — and when a tech company owns its own legal entity, it means your company is responsible for compliance with the local labor laws. With an employer of record as your partner, you eliminate the stress of establishing a legal entity and simplify hiring remote employees in emerging markets like Kyrgyzstan.
Here is how hiring with an EOR will benefit your tech company:
No Need for a Local Entity
The challenge of a legal entity is two-fold — the financial costs of establishing and maintaining a legal entity and the legal infrastructure needed to maintain an entity in Kyrgyzstan. The average costs to establish a legal entity in Kyrgyzstan falls in the $1,200 – $3,500 range. The overhead costs of a legal entity will vary based on the country where you are hiring and may include direct staff salaries, office space, utilities, accounting, and legal support that can range from $5,000 – $15,000 per year in Central Asia and the Caucasus. By comparison — the costs of partnering with Truss as your employer of record in Kyrgyzstan start at $499 per employee per month.
Faster Onboarding
Many tech startups that want to find, recruit, hire, and onboard tech talent in Kyrgyzstan want to hit the ground running and onboarding with a legal entity can take time. When you have an established legal entity, you can expect the onboarding process to take 2 – 3 weeks. Tech companies that need to establish a legal entity can expect onboarding to take 3 – 6 months. When you partner with an employer of record, the onboarding process is smoother, simpler, and faster, reducing the time it takes to onboard new employees from weeks to days, with an average time of 2 – 5 days.
Simplified Legal Compliance
Knowing and understanding labor laws in any country is a challenge for any company — which is even more complicated when you are operating in a country where you don’t know the language or laws. This is where an employer of record will shine. Your employer of record takes on the legal responsibility of handling compliance with the local labor laws, allowing you to focus on business. Without an employer of record to ensure you are compliant with local labor laws, you face compliance fines and penalties that start at an estimated $750 per violation in Kyrgyzstan and can compound and increase with repeated violations.
Global Payroll and Tax Management
Tax laws and payroll are different everywhere around the world and can present a management challenge for many U.S.-based tech companies hiring in Central Asia and the Caucasus. With Truss as your employer of record, you have a trusted partner that can handle global payroll and tax management. Employers are responsible for a 10% flat personal income tax and a total 17.25% social contribution in Kyrgyzstan, which includes 15% for employee pensions and 2.25% for social security, and an employer of record will handle these aspects for your tech company.
Easily Scale and Build Your Team
Searching international job boards for the talent and skills you need as a growing tech company can be a painstaking process when you do it on your own. When you partner with Truss as your employer of record in Kyrgyzstan, we will use our years of experience in the region to help you find qualified candidates that meet your needs. Truss has the capability to help you find tech talent by role or by skillset. With an established list of current candidates, we can shorten the time it takes to find, recruit, and hire the team members you need to drive success.
READ MORE: Understanding Benefits for Tech Startups in Central Asia vs. Eastern Europe
Partner with Truss as Your EOR in Kyrgyzstan
Are you growing your tech company? Are you looking for affordable talent to grow your team? Partnering with an employer of record — like Truss — may be the perfect solution. When you have a better understanding of the key benefits of hiring with an EOR in Kyrgyzstan, you can make an informed decision that will change the future of your company, and Truss is here to help.
Contact Truss today for more information on the benefits of an employer of record!
