What is the difference between GEO/PEO/EOR?
- GEO service means Global Employment Outsourcing (or Global Employment Organization). Using our GEO service, you do not need to establish a company in Vietnam, but can recruit Vietnamese employees (engineer, designer, accountant architect, BPO staff…)
- EOR: Employment of Record
→Employ staff instead of clients. Accept most of the labor work instead of the client.
- PEO: Professional Employment Organization →Focusing on Outsource service of the HR department (all of labor work such as recruit, attendance, payroll, tax matter..).
<Our GEO service definition>
GEO= EOR + PEO in Vietnam
Our laboratory-style offshore development (GEO) services are aimed at expanding into Vietnam, commissioning pre-company testing, securing talented engineers and other human resources, and also being able to operate a large team remotely.
With covid-19, post covid-19 situation, global moving is not so easy. And remote work has been more popular. In these situations, you do not need to establish a company and send a person to manage the company in Vietnam.
<span”>You can reduce the cost to establish a company and time to prepare all of it. Focus on your own business.
Price table (this fee for 1 staff/month)
|Content||Basic (200 USD)||Standard(350 USD)||Predium(500 USD)|
|Free Recruitment||<500 USD(salary)|
|Support Other service|
|500 – 1000USD||1month of salary|
|Over 1000USD||2month of salary|
|Deposit||2 month salary after probation term (2months)|
|Device||Purchase for staff (provide by customer)|
|MTG support (4h/month)||200USD|
|Tet (new year) bonus||1month salary/person|
- Doesn’t take too much time and initial cost
- The use of Labo model will help businesses have time to adapt to Vietnamese culture before choosing to establish a long-term company.
→ Below is a cost comparison table (IT company, personnel > 5 people) to help customers better understand the difference between Labo and Establishment of a company
|Item (initial cost)||Price||Remarks|
|Establish company Fee||7,000USD||If you ask an agency|
|Office deposit||4,000USD||2 months rent|
|Buy Office Furniture||3,000USD||Desks, chairs, shelves, refrigerators, etc.|
|Network construction||500USD||Internet, telephone, etc.|
|Recruitment||10,400USD||Recruiting fee: 2.6 months’ salary|
|Total initial cost||34,900USD|
|Senior PHP Engineer||1,200USD||5 years of work experience, leader|
|Regular PHP Engineer||800USD||3 years of work experience, working for a Japanese company|
|Regular Android Engineer||700USD||2 years of work experience|
|IT Communicator||800USD||Interpretor and translate document|
|Designer HTML coder||500 USD||3 years of work experience|
|Social Security (for company)||860USD||21.5% of salary|
|Management fee||2,500USD||500USD / × 5 people|
|Consumption tax||0%||VAT exemption for software development|
|Total||7360USD||Unit price per person: 1472USD|
- Monthly payment regardless of project progress
- Minimum 1 year recruitment contract term, do not worry about employees quitting suddenly
- Project data can still be managed in case of sudden employee leave
→ Cost comparison table between OutSource and Labo with an IT company with 5 employees
|1 Project manager||6,000USD|
|Unit price per person:||2,700USD/person|
|Salary for 5 staff||6,300USD|
|Unit price per person:||1,932USD/person|
* So you will save $3,840 if you choose Labo