- Overview: Armenia
- Global PEO and payroll
- Global HR Compliance
- Expand without a company set up
- Contractor vs. employee: which is better?
Global Employer of Record in Armenia
Global employment services
Businesses in the process of expanding globally often face challenges when it comes to compliantly onboarding employees in foreign countries. In most cases, legal compliance requires the establishment of a legal in-country business entity, a complex, costly and time-consuming process that many employers are not ready to undertake.
To help your organization legally onboard and payroll a workforce in Armenia, Acumen International offers a global employment solution via our Global Employer of Record (EOR) designed to help you circumvent the legalities of direct hiring, eliminating the need for you to establish a legal entity in Armenia in order to conduct business there.
Spotlight on Armenia:
Armenia, officially the Republic of Armenia, is a landlocked country in the Southwestern Asia, between Turkey and Azerbaijan. Armenia views itself as part of Europe; geopolitically, it can be classified as falling within Europe, the Middle East, or both.
- Capital: Yerevan.
- Language: Armenian.
- Population: 3.011.609 (July 2021).
- Labor Force: 1.507 million (2017).
- Industries: Armenia’s economy is based on agriculture, mineral exploitation, hydroelectricity, telecommunications, jewellery, and tourism. The main branches are brandy, mining, diamond processing, metal-cutting machine tools, forging and pressing machines, electric motors, knitted wear, hosiery, shoes, silk fabric, chemicals, trucks, instruments, microelectronics, jewelry, software, food processing.
- Trading partners: Armenia’s top export partners are Russia, Switzerland, China, Bulgaria, Iraq, Serbia, Netherlands, Germany. Export commodities include copper ore, gold, tobacco, liquors, iron alloys. The main import partners are Russia, China, Georgia, Iran, Turkey, and import commodities are natural gas, cars, refined petroleum, broadcasting equipment, and diamonds.
- Local currency: The dram (AMD).
- Minimum wage: From January 1, 2020, the minimum monthly wage in Armenia is set at 68.000 AMD, a 23.6% increase from the previous 55.000 AMD, which has been in place since 2015.
- Salary currency: A wage is paid in currency of the Republic of Armenia (dram).
Employ your Selected Workforce in Armenia via Acumen’s Employer of Record (EOR) Solution
Acumen’s Global Employer of Record (EOR) solution was designed to help international companies like yours expand your global reach and engage the brightest global talent for your projects.
Acumen’s EOR global employment solution helps businesses to overcome legal challenges by hiring and compensating your local and expat workforce in Armenia on your behalf, in a risk-free and cost-effective manner.
As an Employer of Record services provider, Acumen International helps businesses to legally engage and pay their selected highly skilled professionals in Armenia. Businesses desiring to hire local employees should be prepared to pay competitive salaries, to attract and retain the most qualified candidates.
Acumen’s Employer of Record (EOR) service in Armenia offers an efficient and inexpensive alternative to direct hiring. Our solution gives companies the opportunity to operate in Armenia, and in 190 international markets where we serve our clients, without registering as a local business entity.
Legally Onboard and Payroll your Employees in Armenia with Acumen’s Global Employment Solution
As a global employment organization, Acumen International serves both end employers and service companies representing international clients.
Acumen’s Global employment services are designed to provide our clients with professional assistance to meet their global HR needs, such as:
- Global talent acquisition and retention
- Global expansion, to help you quickly enter new global markets without legal and HR compliance risks
- Local support for international clients and their expat employees
Acumen is helping you navigate the challenges which global COVID-19 pandemic and market unrest caused. Timely counselling with the Acumen’s team will ensure proper guidance of the client through challenging situations and assist him in resolving complicated situations.
You can trust Acumen to handle the global employment and HR details of your workforce management in Armenia, to ensure full compliance with Armenia’s employment laws. Reduce your risks while expanding your business, without establishing your own legal entity in Armenia. Leave it to Acumen to hire and compensate your employees on your behalf, so you can focus on growing your business.