The cost structure varies depending on the model you choose:
1. Staffing Agencies (EOR Model):
Recruitment Fees: Can be a one-time fee or recurring management fees depending on the agreement. Flat fees typically range around $4,000 for a single hire, excluding ongoing Employer of Record (EOR) fees.
EOR Fees: The agency handles payroll, taxes, and benefits, incurring additional costs on top of the recruitment fees.
2. Freelancers:
Project-based Rates: Freelancers set their own rates, which can vary depending on experience and project complexity. Platforms like Fiverr might have additional service fees.
3. Accounting Outsourcing Service Providers:
Fixed Fee: Providers typically charge a fixed fee per task or project, offering cost predictability.
4. Professional Offshore Accounting Services Providers:
This model often involves a monthly fee based on the service you are asking for or the dedicated team size. This can be more cost-effective than in-house staff but might be slightly higher than basic outsourcing.