VietnamSkip the hassle and kickstart your expansion in Vietnam
Vietnam’s thriving economy, skilled workforce, and competitive labor costs make it a top destination for global business expansion. As a strategic hub in Southeast Asia, the country offers immense opportunities in industries like manufacturing, technology, and services.
Expanding to Vietnam, however, requires navigating local regulations and processes, such as ensuring employment contracts meet Vietnamese language requirements and include mandatory details like working hours and benefits. An Employer of Record (EOR) simplifies these complexities, taking care of compliance, payroll, and administrative tasks while you focus on driving growth.
With an EOR, scaling your operations in Vietnam is seamless and efficient, giving you the flexibility to unlock the market’s full potential.
Why choose an EOR for hiring in Vietnam
Expanding into Vietnam opens the door to incredible opportunities, but it also brings unique challenges that require local expertise to navigate. Vietnam’s detailed labor laws, cultural nuances, and complex administrative requirements make compliance both a necessity and a potential obstacle for businesses.
That’s where an EOR simplifies the process, offering a seamless way to manage hiring and compliance.
An EOR enables businesses to:
- Quickly hire and onboard employees without establishing a local entity.
- Mitigate compliance risks by ensuring full adherence to labor laws and regulations.
- Seamlessly manage payroll, taxes, and benefits with expert precision.
- Offload HR, payroll, and administrative tasks to focus on growth.
By acting as the legal employer for your Vietnam-based team, an EOR ensures that all contracts, payroll, and tax obligations are handled efficiently. This allows you to concentrate on daily operations and scaling your business with confidence.
To fully capitalize on the benefits of an EOR, it’s important to understand how it compares to other solutions, like Professional Employer Organizations (PEOs). Choosing the right approach directly impacts the efficiency, compliance, and overall success of your expansion in Vietnam.
Choosing the right solution for hiring in Vietnam
Hiring employees in Vietnam requires navigating intricate employment laws and HR processes. To streamline this, many businesses rely on Employer of Record (EOR) and Professional Employer Organization (PEO) services.
Each option offers unique advantages. However, understanding the differences between EORs & PEOs is crucial for selecting the best solution for your business needs.
An EOR is often the better choice for businesses that want to delegate all compliance risks under Vietnamese labor laws. It simplifies hiring and ensures that all legal and administrative obligations are professionally managed, freeing you to focus on your business growth.
However, choosing the right provider is what truly makes all the difference. In the next section, let’s explore how to select the perfect EOR partner.
Employ top talent in Vietnam through an EOR
Onboard, pay, and manage all your international employees
How to choose the best EOR provider in Vietnam
Selecting the right Employer of Record (EOR) provider is critical for a smooth expansion into Vietnam. All EORs are not the same—some may lack the expertise or infrastructure to effectively meet your business needs. Choosing the wrong EOR can lead to compliance risks, hidden costs, and a subpar experience for your team.
To avoid these pitfalls, focus on these key factors when making your decision:
Legal expertise
An ideal EOR provider should have a comprehensive understanding of Vietnam’s labor laws, tax regulations, and mandatory employee benefits. A proven track record of managing compliance across industries, including yours, ensures they can navigate the complexities of the Vietnamese market with ease.
Support quality
Responsive and reliable support is non-negotiable. Look for providers that offer 24/7 assistance and assign a dedicated account manager. Human-first support, rather than chatbot reliance, guarantees smoother operations and quick issue resolution.
Transparent pricing
Avoid providers with hidden costs or confusing pricing structures. A trustworthy EOR will provide a clear, upfront breakdown of fees, allowing you to accurately budget and prevent unexpected expenses.
Value for investment
The lowest-cost option isn’t always the best. Prioritize providers that balance affordability with high-quality service, ensuring reliable operations and minimal risks for your business.
Once you’ve chosen the right partner, understanding how EOR services work will help you collaborate effectively and make the most of their expertise.
How EOR services work in Vietnam
Expanding into Vietnam can be simplified with the right Employer of Record (EOR) partner. EOR services adapt to your unique needs, streamlining hiring and ensuring compliance.
Here’s how an EOR like Multiplier helps you establish and grow your team in Vietnam:
Step 1: Align with Vietnamese labor regulations
The EOR services provider begins by ensuring all employment practices comply with Vietnam’s labor laws. This includes navigating tax obligations, social insurance contributions, and mandatory benefits, laying the groundwork for a smooth and compliant operation.
Step 2: Develop a legally compliant employment contract
The EOR prepares a contract in Vietnamese that meets local requirements and reflects your business needs. This contract outlines essential details such as job responsibilities, salary, working hours, and termination policies, ensuring both legal compliance and clarity for employees.
Step 3: Create a benefits package tailored to local standards
Vietnamese employees value benefits such as Tet bonuses (Lunar New Year bonuses), meal allowances, and social insurance contributions. The EOR helps you craft a benefits package that aligns with these expectations while remaining compliant with local regulations, ensuring you remain competitive in attracting top talent.
Step 4: Streamline document collection and verification
The EOR handles gathering essential employee information, such as tax identification numbers and banking details. Advanced tools ensure accuracy and speed, reducing administrative workload and expediting the onboarding process.
Step 5: Manage payroll and tax obligations
Payroll in Vietnam requires detailed calculations for taxes, social insurance, and other deductions. The EOR ensures payroll is processed accurately and on time, adhering to local regulations. A centralized platform further simplifies payroll management for businesses with teams across multiple countries.
Step 6: Oversee ongoing HR and compliance tasks
From payroll processing to benefits management, the EOR ensures all aspects of HR and compliance are maintained. In cases of resignation or termination, the EOR oversees the process according to Vietnamese labor laws, ensuring all legal and procedural requirements are met.
By customizing these steps to your specific needs, an EOR provides businesses with a stress-free path to expansion in Vietnam, allowing you to focus on growth and operations.
Move into Vietnam with confidence: Partner with Multiplier EOR
Expanding into Vietnam can be a game-changer for your business, but it requires the right partner to navigate the complexities of hiring, compliance, and payroll. Multiplier’s Employer of Record (EOR) services make your expansion seamless, fast, and stress-free.
Here’s how Multiplier sets your business up for success:
- No local entity needed. Skip the time and cost of setting up a business entity. Multiplier enables you to hire directly in Vietnam, accelerating your market entry and reducing overhead.
- Effortless hiring and onboarding. Quickly hire and onboard top talent in Vietnam with streamlined processes, including compliant contracts and seamless onboarding experiences.
- Unmatched compliance expertise. Multiplier ensures adherence to Vietnam’s labor laws, covering social insurance contributions, tax filings, and benefits, so you stay risk-free.
- Payroll and benefits simplified. From accurate payroll processing to culturally aligned benefits like Tet bonuses, Multiplier keeps your team satisfied while you focus on scaling.
With a proven track record in 150+ countries and stellar reviews on G2, Multiplier is trusted by businesses worldwide to simplify global expansion. Book a demo today and see how Multiplier can make your Vietnam expansion a huge success.
