Spending too much on recruitment, payroll or global HR?
Our verdict
MSA (also known as MSA Asia or MSadvisory) is an international company incorporation firm that supports businesses looking to establish and expand their presence in Asia. Here is my honest review of their services.
Pros
- Strong knowledge of local laws and compliance.
- Transparent pricing
- Friendly and responsive support team.
Cons
- Does not have full international coverage
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How is this calculated?
We calculate the Overall Rating by combining the ratings of several testing categories.
Learn more by reading our testing and review methodology.
10+
N/A
ACH and SWIFT/Wire Transfer
Introduction
MSA (also referred to as MSA Advisory or MSA Asia) is an international company incorporation firm that supports businesses looking to establish and expand their presence in Asia. The core focus of MSA is helping companies set up their own legal entities and then managing the accounting, tax, payroll, and compliance that follow.
MSA is particularly strong in China, with 13 years expertise in the jurisdiction, a country where regulations can be complex and processes bureaucratic.
Their coverage also extends across Hong Kong, Vietnam, Thailand, Malaysia, Macau, and India. They do offer EOR solutions on the side, but their core strength lies in incorporation and accounting. For companies that want a long-term, entity-first presence in Asia rather than a temporary EOR arrangement, MSA may be a good fit.
What services does MSA provide?
MSA offers a comprehensive set of services covering the full lifecycle of operating in Asia:
- Company incorporation : Guidance through the complexities of registering an entity in China and other Asian markets, including company chops, licences, and bank account opening. For example, in China, foreign-owned entities need to pass multiple layers of approval before being allowed to trade. Having a partner with experience in liaising with local officials helps reduce the risk of costly delays.
- Accounting and bookkeeping: Ongoing monthly financial reporting, local statutory compliance, and audit preparation. MSA helps businesses stay in line with local Generally Accepted Accounting Principles (GAAP) while also aligning with group-level reporting requirements back home.
- Tax compliance and advisory : Management of corporate income tax, VAT, and international tax issues. Multinational companies often face questions around double taxation treaties and permanent establishment risk. MSA’s advisory service helps interpret how these rules apply in practice.
- Payroll and HR administration: Ensuring payroll accuracy, handling social contributions, and complying with local labour laws. In China and Vietnam, for instance, there are mandatory contributions to housing funds or social security schemes that foreign employers often overlook.
- Business advisory: Supporting market entry strategy, investment structuring, and business reorganisation. This can include choosing the right corporate form (e.g., wholly foreign-owned enterprise in China, or private limited company in India), preparing shareholder agreements, and restructuring operations if regulations change.
- Employer of Record (EOR): Offered as a supplementary service for clients that want to hire without immediate incorporation, but not their primary focus. Companies often use MSA’s EOR solution as a stopgap while working through the incorporation process.
MSA’s approach is advisory-led rather than software-led. They emphasise hands-on expertise and local execution over automation. This makes them especially relevant for companies operating in China, where on-the-ground assistance is still crucial and government portals often require face-to-face follow-ups.
Which countries does MSA cover?
MSA’s core expertise is China, but their network includes several other Asian markets:
- Hong Kong – Often used as a financial gateway into Asia due to its simpler tax system and reputation as a global financial hub.
- Vietnam, Thailand, Malaysia – Emerging markets with growing manufacturing bases and service economies. These jurisdictions are increasingly popular for companies looking to diversify away from China while maintaining a presence in Asia.
- Macau and India – Smaller or more niche markets where compliance can be particularly challenging without local support.
This footprint means MSA is well suited to companies that want to pursue a multi-country strategy. For example, a technology firm might use Hong Kong for regional financing, China for R&D or sales, and Vietnam for manufacturing. With MSA, they can coordinate all of these activities through a single partner.
What is it like to work with MSA?
Onboarding and incorporation
Setting up a company in China can be a bureaucratic maze. MSA’s team helps by handling official translations, obtaining business licences, preparing company seals, and coordinating with banks. Clients benefit from having an experienced guide who has navigated these processes many times before, reducing delays and minimising risks.
One example is the process of opening a bank account in China, which often requires in-person visits and can take several months without the right local support. MSA can help shorten these timelines by preparing the correct documentation and liaising with the banks directly.
Ongoing compliance
After setup, MSA provides monthly accounting closes, payroll runs, and tax filings. This consistency matters in Asia, where late filings or incorrect calculations can attract penalties or even limit your ability to operate. For instance, in India, missing a Goods and Services Tax (GST) filing can lead to heavy fines and even suspension of business activities. Clients can rely on MSA’s accountants and HR specialists to manage these obligations seamlessly.
Communication style
MSA’s delivery model is consultative. Clients receive direct access to advisors who explain regulations in detail and adapt processes to the client’s situation. This style works well for finance leaders who need clarity on why a rule applies, not just what the rule is.
By contrast, global EOR platforms often rely on standardised templates and dashboards. For some businesses, this efficiency is welcome. But for companies dealing with complex structures or industry-specific regulations, MSA’s bespoke support provides greater peace of mind.
Industry focus
MSA works with a range of industries, but they are especially well suited to:
- Manufacturing: This is where compliance with import/export rules, VAT rebates, and labour contributions are central.
- Technology : Where intellectual property registration and data compliance rules (particularly in China) can be a barrier to entry.
- Services : Services such as consulting or professional services firms expanding into Asia, which need flexible setups and reliable payroll.
By tailoring their advice to industry-specific needs, MSA helps clients avoid mistakes that generic providers might overlook.
How does MSA compare with global EORs?
Unlike providers such as Deel or Remote, MSA does not offer instant hiring across 100+ countries through a centralised dashboard. Their model is entity-first: the focus is on incorporation, accounting, and compliance in Asia.
This means that if your aim is to establish a lasting presence with full operational control, MSA provides a more sustainable path than some other operators.
Note, however, that MSA does offer an EOR service as an additional option, which can be a useful first step to Asia expansion.
Pricing
MSA does not publish standardised pricing. Fees vary based on factors such as:
- The type of entity you are setting up.
- The jurisdiction.
- Transaction volume for bookkeeping.
- Payroll headcount.
Entity setup in China starts from USD 2,999, covering registration, licensing, and sometimes bank account opening. After that, you can expect monthly recurring fees for accounting, payroll, and tax compliance. While this model lacks transparency compared to EOR providers with published fee tables, it reflects the customised nature of incorporation and accounting services in Asia.
Pros and cons
| Pros | Cons |
|---|---|
| Deep local expertise in China and Hong Kong |
Does not currently offer full international coverage |
| Strong accounting and tax compliance capabilities | |
| Regional coverage across multiple Asian markets | |
| Advisory-led service with direct access to specialists | |
| Suitable for long-term expansion strategies |
Who should choose MSA?
MSA is ideal for businesses that are serious about establishing a long-term presence in Asia. If your strategy involves building an entity, running payroll, and complying with tax regulations on an ongoing basis, MSA provides the practical support you need.
For companies that need to set up entities in multiple overseas locations outside Asia, another provider may be more helpful.
Final thoughts
MSA stands out as an entity-first provider in a market dominated by EOR-focused platforms. Their mix of incorporation, accounting, and HR compliance services makes them a trusted partner for companies entering complex jurisdictions like China.
If your long-term plan is to build a business in Asia that is sustainable and compliant, MSA is worth serious consideration. Their services may be more traditional than some software-driven competitors, but in Asia’s complex business environment, that traditional, hands-on expertise can often be the key to success.
