International Asset Management Company – Outsource PayrollBanking & Finance
A foreign asset management company with a well-established office in Hong Kong underwent a major restructuring. As part of the restructuring a number of senior expatriate management staff from other countries was relocated to the Hong Kong office. Concerned that the existing Hong Kong senior management might compare their own compensation to the expatriate packages, thus affecting the morale of the Hong Kong office staff, the company worked with us for a solution.
We proposed the company outsource the handling of the expatriate payroll related activities. We then only communicate with the company’s head office which was outside of Hong Kong. In essence, all monthly payroll records, remittance and tax filing for the expatriate group would be handled by us directly.
By utilizing the payroll outsource services provided by us, our client has achieved the objective of keeping the expatriate package strictly confidential. None of this information would be exposed to the Hong Kong office of the company.
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