Doing business in China is attractive but far from being simple. Is it impossible still?
Even after the global economic recession of the past few years, China’s economy seems to remain on the road to success. In 2010, China overtook its rival Japan to become the second biggest economy in the world. The labor force working in China then generated an estimated quarterly gross domestic product of a spectacular 1.33 trillion dollars.
Recent figures show that growth has slowed down somewhat. But with an annual GDP increase of over 7% in 2012, it’s still comparatively high. This economic situation leads China to be one of the top attractive country for business and to have a large population of expatriate businessmen, entrepreneurs, journalists, and academics (220,000 according to the public security bureau). Yet a lot challenges remain.
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However, a simple solution, which allows small and medium size companies to launch a business in China more easily and less costly, does exist.
PEO: the company best friend
Aka Professional Employer Organization (PEO), the main goal of such a structure is to help the foreigner to do his job abroad, in this case, China. A simple presentation like this is attractive and as a consequence, the Middle Kingdom is nowadays flooded with numerous PEOs.
How to determine which one is reliable in the end? Many can have beautiful websites that end up to be quite empty, or with most information uncheckable. Some hint to help determining which is trustful or not: no official registration number (SIREN number) is not a real good sign, there is a need to ask the right questions, to gather as many materials as possible, information about the owner, the representatives, what they have done before, etc…
A lot of questions to ask indeed to make sure that your potential SEO is a trustworthy one.
One definitely stand out : INS Global Consulting. This Shanghai-based company with its 10 years of experience in PEO services is your first choice should you choose to use PEO services in China or more specifically in Shanghaï
What is INS Global Consulting?
INS Global Consulting is a Professional Employer Organisation, more specifically an umbrella company that will take care of the administrative and salary procedures needed for a foreign company to set itself up on the Chinese market. In concrete terms, the foreign company is linked to INS with a service provision contract. For its part, INS takes care of:
The recruitment of skilled and qualified consultants, who will work full time on the foreign company’s mission;
- The obtaining of working visas for the consultants of the foreign company;
- The payment of the consultant, it means that they are locally hired;
- The insurance of the consultants;
- The tax declarations.
INS has also developed a range of services that makes the work of the consultants easier, such as the use of a co-corking space or a warehouse.The consultants do not take care of the administrative part and can focus on their core business and identify business opportunities, negotiate and close deals with theirs clients.
INS Global Consulting is today a leader umbrella company in China, with more than 200 consultants. What are the assets that enable it to get this notoriety with foreign companies willing to launch on the Chinese market?
1) Competitive Price.
The role of INS is to allow small and medium size foreign companies to launch their business in China. The clients’ succeed is primordial, INS Global Consulting is committed to offer quality services for reasonable prices.
While a new company does not make profit yet, it needs a solution à la carte for an affordable cost.
If INS became a leader umbrella company in China, it is because it offers quality services that allow its clients to avoid the complexity of the administrative procedures, for a lower price.
2) A serious and thorough team.
INS is formed with a serious and thorough team, two necessary qualities to complete successfully the administrative tasks of its clients.
Moreover, the team stays at the service of its clients, in order to answer theirs needs. INS is a trustworthy partner on who its clients can count. The team is always looking for serious solutions.
This qualities have allowed INS to become a leader umbrella company. Its clients can keep the reactivity of a small or medium size company and take advantages of advices and serious solutions.
3) Respect of the Law.
Face to the strict rules and the complexity of the administrative procedures, many foreign companies have decided to disregard some laws, do not understand the laws, or are simply not well informed. This is for this reason that 80% of foreign companies shut down in two years.
INS Global Consulting is a serious company, which does not put in jeopardy the launch of its clients’ business on the Chinese market. In order to help its clients, INS respects the laws and rules related to expatriated people and stays updated on the evolution and change of the Law.
In order to prosper in China, it is necessary for a company to know how to decrypt the rules and to be surrounded. INS, in making the administrative procedures of its clients easier, allows them to respect the Law. INS takes care of the tax declarations, the payment of the consultants and the obtaining of working visas in a legal way. Its clients are not bothered with administrative work and do not take the risk to be into illegality.
Being a newly arrived company in China is a tough task but thanks to INS, is far from being impossible.