There are many businesses operating from a foreign country, as entrepreneurs seek to move into new markets and while they might have a small representative office with a single employee, they do require a diverse range of essential office services. These are usually provided by a local company that specialises in freelancing office services, ensuring that foreign businesses keep their accounts in order and that tax returns are filed on time and the business generally complies with all standards.
Whether you are looking for an accounting firm in Hong Kong or Singapore, a Google search is all it takes to locate a local specialist and everything can be completed remotely, eliminating the need to travel, which is ideal in these troubling times. Regardless of the type of business you run, outsourcing your accounting needs is a cost-effective way of keeping your books up to date and local labour costs are lower than in Europe, if your business is in South East Asia.
Tailored to Suit
You might prefer to be billed per transaction, or have a monthly invoice sent out, or perhaps quarterly would be preferable, either way, your local accounting partner is ready and willing to carry out your bookkeeping and accounts. Using a secure cloud network, all files can be accessed by the accounting firm and the finished work sent by email to head office. If you’re looking for investment firms, this article is worth a read.
If you run a branch office in Hong Kong, you may not have enough administration work to hire a full-time employee, while using the services of a local secretary on a job basis is the best way forward. Simply send an email with instructions and the work will be completed and sent to you, with all deadlines met, while there are standard office services such as typing, printing and photocopying, all at affordable prices.
Your local accounting partner can issue you notifications to ensure you are always compliant and don’t miss anything important; simply send instructions and you’ll never have to worry about missing any accounting deadlines.
If you have a small representative office, the local accounting firm can supply you with full or part time office workers and an acceptable rate can be worked out. The important thing is to keep your business running smoothly and by enlisting the help of a local accounting firm, you have everything covered.
Typical Services Offered
The local accounting firm would offer the following services:
- Monthly reports
- Income statements
- Balance sheets
These can be done monthly, quarterly, semi-annually or annually, as you wish and year-end financial reports are also required.
It is critical that your foreign business remains fully compliant with local business laws and regulations and by enlisting the help of a local account and bookkeeper, you will always be ahead of the game and should you require any of their services, all you have to do is ask.