Interview with Wei Hsu
Managing Director of INS Global Consulting
Wei Hsu talks about how he assists foreign companies in establishing and strengthening their local presence in Asia. He provides employment solutions, staff outsourcing, as well as facilitates working visas, local contracts, salary sponsorships, tax declarations, recruitment of local teams, invoicing and office rental.
1. Who are your clients?
Our clients come from mid-market and multinational companies, as well as institutions and organizations. Each company presents us with a different set of challenges while expanding into the Asia-Pacific markets.
2. How do you support your clients?
We have developed a platform that works between businesses and their local representatives. It simplifies the recruitment and employment solutions. In each step of the organization's life cycle we provide personalized coaching. We find a qualified manager to represent the company in China and handle all recruitment matters, including the hiring of the onsite teams or sales support. We also assist with the administrative needs and financial requirements, such as controlling the fapiao.
3. Are your services location-specific or can you help anyone and anywhere in China/Asia?
Each industry, location and business type responds to specific requirements and processes. The business scope of the company determines the registration type. Our expertise is focused mainly on service companies and consulting activities.
4. Are there differences between various Asian markets?
There are several differences among Asia’s markets. For instance, the market entry time varies, i.e., one to six weeks in China and one to four weeks in Taiwan. Another example is the difference in administrative regulation, which is higher in Mainland China compared to Hong Kong.
5. Do you work with startups?
Certainly. We collaborate with startup foreign companies and freelancers looking for onsite administrative support for their local teams. Often startups need the most help because those companies don't have established ways of handling business.
6. What specific recommendations you have for brands/companies wanting to enter the China market?
Foreign investors and companies wanting to try their luck abroad will find that the Chinese market offers countless opportunities. However, to successfully set up a business in China, it is crucial to proceed following the country’s laws and regulations. The Chinese labor law, for example, is protective towards the employees hence the employers have to be very clear on rules and the law to equally protect themselves.
7. What are the possible dangers and pitfalls of starting a company in China?
There are many types of legal entities in China, each with advantages and limitations. It is necessary to carefully consider which legal entity will correspond to the needs of the business. Failure to do so can lead to many difficulties and issues in the company’s future, leading to the possibility of an eventual failure in China. I recommend considering the different options before entering the Mainland.
8. What is your advice when it comes to operating or starting a company in Asia/China?
First, be informed then make your move. A few months after the implementation of the new visa points system in China (1 April 2017), the Chinese authorities made further modifications in the table points. Find reliable help in the form of professional organizations or a partner company and don't rely on your knowledge from the West.
Wei Hsu is expert in facilitation of working visas, local contracts, salary sponsorship, tax declaration, recruitment of local teams, invoicing and office rental.