- Global HR Compliance
- Global PEO and Payroll
- Work permit for hiring expats via PEO
- Expand without a company set up
- Contractor vs. employee: which is better?
Global Employer of Record (EOR) in Moldova
Global Employment Services
Moldova is attractive for international companies who want to do business in Europe and beyond. However, establishing a permanent business entity in Moldova is not always the optimal solution for companies just beginning to explore the Moldavian business landscape. Compliance is often challenging for businesses expanding into Moldova, as it can be a complex, costly, and time-consuming process that many employers are not ready to undertake.
Acumen International is the leading provider of global employment solutions (Employer of Record and PEO), helping Spanish companies expand their reach beyond their borders and compliantly hire the best talent from anywhere in the world. With Acumen’s Global Employer of Record solution, thousands of businesses have access to legal, financial, and cultural expertise to onboard, pay, and manage employees and contractors in 190 countries. Acumen is dedicated to helping companies succeed on a global stage and create a workforce that reflects the diversity of their customers and markets.
In either case, or if you are an agency representing a corporate client, Acumen International offers a perfect global Employer of Record (EOR) solution for legal and compliant hiring and compensating of your Moldavian workforce.
What Is a Global Employer of Record?
Global Employer of Record (EOR) in Moldova comes in handy when businesses expanding globally face many challenges when properly onboarding employees in foreign countries. In most cases, compliance with local laws requires establishing a legal entity in the country where the business operates. This process can be costly, time-consuming, and potentially undesirable for many employers. With Acumen International by your side in Moldova, you can easily manage your global employment and HR needs without worrying about the complexities involved. Partner with Acumen Global Employer of Record and let us help you ensure that your workforce is compliant and up-to-date across all jurisdictions, including Moldova.
Employer of Record – The Best Option for Expanding Your Business to Moldova
1. Faster Hiring a Candidate in Moldova
With the global economy shifting more and more towards technology, companies are looking for ways to keep up. One such solution is the EOR model, which allows companies to outsource work to distant locations without any overhead or bureaucracy. This is especially helpful for companies that need to fill positions quickly in multiple locations, as it eliminates the hassle of setting up local entities.
The EOR model can be an excellent solution for businesses that need to find and hire talented workers no matter where they are located. This can be especially helpful for companies with limited internal resources or infrastructure, as it eliminates the need to create an entity in each location. Additionally, the EOR engagement complies with global regulations, making it an ideal solution for businesses of all types looking for faster and compliant employment in Moldova
2. Test the Market with a Global EOR before Launching the Business in Moldova
If you’re looking for a way to tap into the Moldavian market, a global EOR might be the perfect solution. A global Employer of Record is an employee engagement where one company agrees to act as an employer for another company. This allows your company to test the waters without taking on all the associated risks and costs of establishing an entity in Moldova. If things go well, the Employer of Record can arrange for its employees to work permanently from that location. So what are you waiting for? Start exploring this promising new market today!
The benefits of a Global Employer of Record (EOR) arrangement include:
- Cost savings. There are no additional expenses associated with setting up an entity or hiring staff until you decide it’s worth the cost.
- Increased flexibility. You can move quickly if necessary without dealing with lengthy lease agreements or other administrative matters that would slow down your growth plans.
3. Employer of Record: Avoid Expensive Fees and Long-Term Commitments
The Employer of Record offers a simple, low-cost solution for companies looking to expand their operations in a foreign country.
Companies can work with a local partner in their chosen country and utilize the services of an Employer of Record (EOR). This provides an alternative to setting up an entity or subsidiary, as it allows companies to sidestep the administrative and financial burdens involved in establishing a legal entity.
The EOR (Employer of Record) will be responsible for all tax obligations and regulatory compliance requirements on behalf of your company in Moldova. The EOR engagement also allows you to avoid additional costs associated with hiring local staff and other expenses such as office space and equipment rentals.
Partnering with an Employer of Record, you will retain complete control over your employees and business operations while benefitting from substantial cost savings and avoiding non-compliance risk.
4. Employer of Record: a Good Option to Getting Started in Moldova Faster
An Employer of Record is an excellent choice for those looking to start working in Moldova immediately. Using an Employer of Record, you can get started sooner than if you were waiting for your entity to become official in Moldova. The Employer of Record will act as a legal employer of your workforce in Moldova and handle payroll and benefits administration, tax filing, and all the necessary paperwork for your employees, making the employment process in Moldova smoother and quicker.
Global Employer of Record (EOR) Services: Save Up to 80% of Employee Management Cost
|Average Cost & Time||Our Solution *|
|Time to Market||10+ weeks||72 hours|
|Legal Advisors Fees||$ 10 000 +||………….|
|Official Employment & Benefits||$ 20 000 +||………….|
|Incorporation & Liquidation Costs||$ 11 000 +||………….|
|Bank Account Setup||$ 2 000 +||………….|
|Maintenance costs and in-house staff to manage the foreign entity, payroll setup, and administration.||$ 25 000+||………….|
|The approximate total cost of new market entry**||$ 74 000 +||$ 15 000|
* Per one Employee
** Costs vary from country to country
17 Burdens a Global Employer of Record (EOR) Can Relieve for Your In-House HR Department
- Global expansion complexity
- Global payroll administration
- Employee benefits administration
- Drafting compliant employment contracts to adhere to local labor and tax regulations in 190 countries
- Lengthy onboarding
- Complex and risky offboarding
- Background checks
- Workforce compensation administration
- Compliance assistance
- Guidance on best practices of voluntary benefits provisioning
- Immigration and relocation support for your ex-pat workforce, such as visa sponsorship and securing work permits
- Lack of institutional knowledge.
- IP right protection
- Lack of local and international legal support
- Convert local contractors into full-time employees
- Business transitions: acquisitions, mergers, close-downs
- Need to deal with multiple global employment service providers.
Spotlight on Moldova
The Republic of Moldova is a democratic republic that gained its independence in 1991.
- Location: Moldova is a small and densely populated landlocked country in Eastern Europe, located between Romania to the west and Ukraine to the north, east, and south.
- Capital: Chișinău.
- Currency: Leu (MDL).
- Official language: Moldovan / Romanian.
- Population: 3,323,875 (July 2021).
- Labor force: 1.295 million.
- Most developing industries: With a moderate climate and productive farmland, Moldova’s economy relies heavily on its agriculture sector, featuring fruits, vegetables, wine, wheat, and tobacco. The country’s primary industries have also been manufacturing, food processing, textile, apparel, and footwear.
- Main trading partners: Romania, Germany, China, Turkey, and Italy.
- Minimum statutory salary: Moldova’s minimum wage is 1900 MDL monthly for private sector workers and 1000 MDL per month for public sector workers.
Employ Your Selected Workforce via Employer of Record (EOR) in Moldova
Acumen’s Employer of Record solution in Moldova offers an efficient and inexpensive alternative to an own company setup and direct hiring to meet your global employment needs. Our solution allows companies to operate in Moldova and 190 international markets, where we serve our clients without registering as a local business entity.
As an Employer of Record services provider, Acumen International helps businesses legally engage and pay their selected highly skilled professionals in Moldova. Businesses that want to attract top local talent should plan on offering competitive salaries and benefits.
Acumen International’s EOR in Moldova helps employers and service companies representing international clients to hire and compensate local employees in Moldova. We offer professional assistance to meet our client’s global HR needs, such as:
- Global talent acquisition and retention
- Global expansion assistance to help you quickly enter new global markets without legal and HR compliance risks
- Local support for international clients and their ex-pat employees
Legally Onboard and Payroll Employees in Moldova with Acumen’s Global Employment Solution
Acumen’s solid global employment solution was designed to help businesses avoid compliance risks and save money by hiring and compensating their local and expat workforce in Moldova on your behalf. Our Global Employer of Record (EOR) helps international companies like yours expand globally by engaging the country’s brightest global talent for your projects.
Whether you need to reinforce your internal team with the expertise of local Moldavian talent or have already selected a candidate to work remotely from Moldova in full legal compliance, our global employment solution is an excellent choice for you.
In addition to legally onboarding Moldavian employees, we can help organize work permits, provide business visa sponsorship for your expatriate team, and employ them on your behalf once legal permissions are obtained.
Partner with Acumen International as your #1 global Employer of Record services provider, and let us help you manage your overseas employment and HR needs. With Acumen, you can rest assured that all legal requirements are met for compliant hiring and compensating your local and expatriate employees in Moldova and in 190 countries worldwide where we serve our international clients.