Expanding your business into new countries can be stressful, and this is especially true in Vietnam. It can be difficult to hire employees in the new country due to changes in rules and regulations. Employer of Record Vietnam services provided by the Multiplier make this easy. It assists companies in hiring, managing, and compensating employees in more than 150 countries, including Vietnam, without having to establish a presence in the country. From employee onboarding to compensation, benefits, and compliance, Multiplier takes care of everything, allowing companies to concentrate on expansion while keeping everything running smoothly and efficiently.
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Key Takeaways
- Employer of Record (EOR) solutions enable businesses to employ workers and contractors in Vietnam without the need for a local presence.
- Vietnam is an attractive market because of its talent pool, cost-effectiveness, and geographical location in the APAC region.
- Multiplier offers compliance-driven infrastructure solutions that include payroll, HRIS, contractor services, and AI-powered solutions.
- Employing through an EOR solution helps businesses onboard faster, reduces the risk of legal issues, and makes HR and payroll management easier.
- Offering benefits, insurance, and immigration support helps employees feel cared for and makes day-to-day operations much easier.
Why Are Companies Turning to Employer of Record Services in Vietnam?
Companies are increasingly leveraging EOR services in Vietnam to grow rapidly and compliantly. The process of incorporating a local entity takes months and entails intricate labor regulations, tax requirements, and bureaucracy. EORs essentially serve as the local employer on your behalf, managing hiring, compensation, benefits, and compliance. This enables companies to concentrate on expanding their operations, minimizing risks, and accessing talent quickly, whether full-time or freelance.
What Makes Vietnam a Strategic Hiring Destination for Global Expansion?
Vietnam is emerging as a preferred destination for companies looking to hire in the APAC region. The country has a young, talented, and English-speaking workforce, particularly in the tech, finance, and customer service sectors. The cost of labor is low, and it is an excellent entry point into Southeast Asia. With the right EOR partner, businesses can easily follow local labor rules and tap into Vietnam’s top talent.
Which Are the 6 Best Employer of Record Services for Companies Expanding into Vietnam?
When evaluating an Employer of Record, companies consider platform scalability, compliance coverage, payroll and HRIS capabilities, contractor management, and value-added services. Here are six top platforms suitable for Vietnam:
1. Multiplier
Multiplier is a fully global EOR solution, designed to recruit, manage, and pay staff in 150+ countries, including Vietnam. Their proprietary entity structure is designed for compliance from the start. Global Payroll and HRIS are fully integrated for seamless employee onboarding, payroll, and HR processes.
They offer support for Contractor of Record (COR) hiring, localised benefits, and insurance, as well as immigration and visa services for global hiring. Artificial intelligence and machine learning-driven payroll reconciliation, and their own Compliance AI assistant, offer real-time support. 24/7 human-centered support, enterprise-level security (ISO, SOC 2+3, GDPR), transparent pricing, and strong compliance infrastructure make it a strong solution for startups and high-growth companies expanding into Vietnam.
2. Deel
Deel allows companies to hire globally in Vietnam for both employees and contractors without having to set up a local entity. Deel provides automated onboarding, payment, and compliance solutions, as well as multi-currency payments and benefits. Deel is very effective for companies that have a lot of contractors and remote teams, as it is flexible and scalable while still being compliant with Vietnamese law.
3. Remote
Remote offers EOR services with local entity ownership in Vietnam, ensuring full compliance with labor and tax laws. The platform provides support for employees and contractors, benefits administration, expense management, and distributed workforce management. Remote is ideal for SaaS, tech, and digital-first businesses seeking seamless global team management.
4. Papaya Global
Papaya Global is a payroll-first hiring platform that makes hiring in Vietnam easier by managing payroll and the workforce. The platform has workforce analytics, compliance reporting, and a multi-currency payment infrastructure that allows for timely payment of salaries and accurate reporting. The platform supports both employees and contractors, allowing companies to scale efficiently.
5. Velocity Global
Velocity Global offers end-to-end EOR solutions that include market entry assistance, immigration services, and compliance advisory for Vietnam. Their solution handles recruitment, payments, and HR processes while ensuring that the company follows Vietnam’s labor laws. Benefit administration and contractor support services make it easier to scale quickly and remain compliant, making Velocity Global the best choice for companies expanding into Vietnam.
6. OysterHR
OysterHR is built for remote-first companies, handling employees and contractors in Vietnam with ease. The tool combines HRIS, payroll, benefits, and equity management, making global workforce management a breeze. Oyster also takes care of local compliance, multi-currency payments, and flexible hiring, allowing companies to focus on productivity while keeping their team satisfied and well-supported.
How to Choose the Right Employer of Record in Vietnam
When choosing an EOR, the following factors should be taken into account:
- Speed of recruitment start
- Whether they have local entities or partners
- Strength of compliance coverage
- Payroll and HRIS integration
- Reporting capabilities
- Availability of specialised, human-centric support
The right EOR partner will help with seamless hiring, compliance, and payroll accuracy, mitigating risks while expanding in Vietnam.
Conclusion
Companies should consider using an EOR when they are testing out the Vietnamese market by hiring remote workers without opening an office in Vietnam or when they need to quickly scale their workforce. An EOR such as Multiplier takes care of all the local regulations and paperwork so that the company can scale smoothly.
Opportunities for MNCs in Vietnam are immense, but dealing with the local workforce can be a challenge. An Employer of Record can make hiring easier by taking care of employee onboarding, compensation, benefits, compliance, and management of contractors. Solutions such as Multiplier balance the need for a human-centric approach with the latest technology to help businesses grow rapidly in Vietnam.
FAQs
1. What is an Employer of Record in Vietnam?
An EOR is the official employer of your staff in Vietnam, while you manage their day-to-day activities. This enables businesses to hire staff without setting up a subsidiary in Vietnam, thus ensuring that labor laws, taxes, and benefits are complied with.
2. Can I engage both employees and contractors using an EOR?
Yes. Most EOR solutions allow you to engage both full-time employees and contractors, thus providing you with compliant contracts, payroll, and benefits administration in line with labor laws in Vietnam.
3. How does payroll work with an EOR in Vietnam?
The EOR takes care of the payroll process, including salary payment, tax remittances, and social benefits. This ensures that employees receive their salaries on time, tax laws are complied with, and businesses do not have to deal with the complexities of Vietnam’s payroll laws.
4. Are EOR services in Vietnam costly?
It depends on the EOR and the services needed. However, using an EOR is generally more cost-effective than establishing a legal entity, dealing with compliance internally, or processing HR and payroll tasks manually.
5. Why should I select Multiplier as my Employer of Record in Vietnam?
Multiplier provides compliance-driven infrastructure, Global Payroll and HRIS, Contractor of Record services, localised benefits administration, AI-assisted payroll reconciliation, and 24/7 human-centric support. It has 150+ owned entities and is suited for startups and fast-growing businesses that want to scale rapidly and securely.