DreamMaxima Expands your company into Asia, China, Taiwan, Hong Kong

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1. DreamMaxima will help you research more information in Chinese on the web, using the most popular Chinese search engines like google and government’s data
2. DreamMaxima does Chinese niche research, search engine optimisation strategies and collects information about the difficulties you might encounter


3. hire Chinese freelancer will help you grow the most valuable relationships operational by uncovering company truth, and hire well-trained Asian workers, shop from China, Hong Kong, Taiwan, Japan

You might face the following challenges while conducting business in Taiwan.

Taiwan carries a relatively small market many competition : Taiwan can be a geographically small place which has a relatively high population density in comparison to other Asia Pacific markets. This makes for the highly competitive market with greater limitations on resources and market share.
Forge strong relationships and business networks : Networking is an important part to do business in Taiwan as ‘who knows who’ is highly regarded. Find a local partner or hire a senior manager in the beginning to aid forge and look after robust business networks.
Communicating in Mandarin : Though there are English-speaking entrepreneurs in Taiwan, it’s helpful and practical so that you can communicate in Mandarin or Taiwanese. Recruiting a translator or getting a bilingual business partner is recommended : particularly when you’re negotiating contracts or discussing legal matters.

Emerging markets in Asia present significant growth opportunities for businesses, in addition they pose many challenges when it comes to culture differences and government regulations.

How must HR requirements differ when setting up a business in Asia?

The concepts are similar – payroll and benefits – but statutory requirements are much different than inside the U.S. and they vary by country. For example, all employees in Hong Kong possess a mandatory provident fund that needs a Five percent contribution by the employer along with a Five percent contribution by the employee. In Singapore, there’s a mandatory central provident fund along with the average employer contribution is 15.Five percent; that’s a considerable difference.

In addition there are differences regarding minimum wages, employee compensation insurance, notice periods, holidays, sick leave and also the way folks are paid commissions or bonuses. In most countries, laws regarding maternity leave protect a woman’s job when she declares she’s pregnant. Companies expanding to Asia shouldn’t underestimate the reasons included in HR.

Can that be accomplished inside a company’s existing HR department?

It’s often a good idea to work with someone with all the expertise to comprehend the unique requirements, taxes, culture and laws of every country. For example, you’ll need someone who may help design staff handbook that’s congruent not just with all the culture and policies in the organization, but is additionally compliant with local legislation. An HR outsourcing company can make a compliance scorecard that identifies all of the requirements from the countries.

A wide range of companies considering expansion to Asia?

About 10-20 percent of middle market businesses primarily domiciled inside the U.S. appear at first sight seeking to work in Asia. Every one of the indicators are that China can become the greatest economy in the world by 2020, and India the third-largest by 2030. Businesses may need to look ahead and develop their plans for growth. The majority are coming into Hong Kong and Singapore now within their future strategy.
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