We have heard of contractors refusing a contract in the Philippines simply because of the administrative nightmare. This nightmare can turn into a sweet dream with a Filipino umbrella company. Without one, you may find yourself spending all your time on calculating expenses, handling taxes and submitting all necessary forms. This means less time for work and finding new clients. We help contractors such as business analysts, software developers, gas and oil workers, IT project managers and many more partner with reliable umbrella companies to manage their administrative tasks and payments. We'll even help you find one to sponsor your work permit if necessary.
Understanding Umbrella Companies
The purpose of an umbrella company is to manage administrative tasks, paperwork and payments for you. This frees you to focus on the job and client. Technically, the umbrella company becomes your employer, but you still have the same freedom as an independent contractor. Instead of you receiving payment directly from the client and managing taxes and fees yourself, the umbrella company receives the payment, subtracts all taxes and fees and then pays the contractor. This ensures you always comply perfectly with all taxes and other legalities in the Philippines. If you feel overwhelmed by the tax system contractors face in the Philippines, let an umbrella company save you hours of frustrating time and effort.
Umbrella Company Benefits
Taxes can greatly reduce your final earnings if you don't fully understand the system. Umbrella companies are experts in the tax system in the Philippines, helping you get the highest possible earnings from every contract. All rules and regulations are complied with. The end result for you is less taxes and administrative hassle. You manage your timesheet and a list of expenses. As soon as the umbrella company receives the payment from your client, you are paid. In most cases, the company handles all client payment collecting, equalling more time for you to spend on your work.
If you're a contractor that wants to spend less time trying to calculate and pay taxes and chasing payments, an umbrella company is perfect for you. A company is available for all situations, regardless of the salary range or contract term. By using an expert team to manage your payments, you receive the highest possible portion of your income. Umbrella companies mean never worrying about issues with local tax authorities. You will even be given tax receipts and pay slips for your personal records.
In addition to time and financial savings, some umbrella companies will serve as your sponsor for a work permit. The majority of countries require a work permit before you can be paid for any work completed within the country. Without an umbrella company, you are forced to find a sponsor through a local company in that country. For independent contractors, this can be extremely difficult. To make it less stressful when becoming a contractor in the Philippines, an established umbrella company will sponsor your work permit.
Your Umbrella Company Guide
Even with all the benefits, you still have to choose the right umbrella company to meet your individual needs. This can be a time consuming process in itself. We can make this process much easier, freeing up your time for obtaining new contracts. We provide you a selection of options that best meet your situation. You then choose between umbrella companies with different payment structures, diverse specialisations and varying services.
Our goal is to provide you with knowledgeable, solid advice that is easy to understand. Our professional team seeks out the perfect umbrella company based upon your situation and needs. With our extensive database of service providers, we are able to match you with the services you require. Since we already understand the services and details about each company, we can explain which ones are the most beneficial to you. You are free to ask questions at any time about specific companies or umbrella companies in general.
We believe in helping contractors save money. As such, we offer this valuable service at absolutely no cost to you. If you are considering becoming a contractor in the Philippines, don't hesitate to contact us immediately. We will provide you with a reliable overview of your options and guide you to the best umbrella company. Once you've found the right one, sign up and lose the stress of calculating taxes, managing payments, collecting payments and finding a work permit sponsor. You should be focusing on your work, not admin.