- Overview: Greece
- Global HR Compliance
- Global PEO and Payroll
- Work permit for hiring expats via PEO
- Convert Freelancers to Full-time Employees
- Expand without an Entity Set Up
Global Employer of Record (EOR) in Greece
What Is a Global Employer of Record?
The global Employer of Record (GEO) service is a new way for companies to hire workers in other countries. Companies can reduce administrative costs and improve compliance with local labour laws by using the GEO (Global Employer of Record).
Previously, finding workers from other countries was time-consuming and required extensive research into local laws and regulations. With the GEO, employers can employ their pre-selected qualified workers worldwide in just minutes without taking on the cost and risk of establishing a local entity. The GEO also provides valuable HR support and compliance assistance, making it easier for businesses to thrive in a competitive global marketplace. The Global EOR offers employers access to a single point of contact for all their foreign employment needs, from complying with local labour laws to managing payroll and benefits.
What Services Does Employer of Record (EOR) Provide?
A Global Employer of Record usually handles part of BPO services, particularly human resources-related issues regarding global remote personnel.
Global Employment Journey — Recruitment. Onboarding. Management. Retention. Termination
Compliance and legal guidance at every step of the Global Employment Journey. 24/7 local support.
2. Global Mobility
5. Payroll Administration
6. Working Time & PTO Processing
7. Benefits Administration
8. Tax Administration & Reporting
|Talent skilled in highly-specialized areas||Employee Work Visa and Work Permit sponsorship||Health checks||Employment Agreement drafting||In-country registration with statutory bodies||Working hours||Mandatory Benefits||Tax Reporting frequency and requirements;||Employment agreement termination:|
|Executive search||Dependent Visa||Criminal record checks||Compliant worker onboarding on your behalf||Day-to-day payroll management||Overtime||Health insurance||Employer taxes & contributions||Dismissal – by the employer|
|Contingency workforce||Visa extension||Background checks||Account setup in the payroll and HR system||Monthly pay slips or other pay frequency||Public holidays||Workers’ compensation||Employee taxes & contributions||Resignation – by the employee|
|Application for a sponsor license for a foreign national||Education checks||Employee data entry and records maintenance||Accruals||Annual leave||Unemployment insurance||Withholding tax||Termination by mutual agreement|
|Relocation assistance||Managing probation periods||Allowances||Parental leave||Voluntary Benefits||Local tax payments and reporting to local authorities||Notice period handling|
|13th and 14th salary||Sick leave||Share plans for executives||End of financial year reporting||Final settlement & severance payments|
|Additional leave||Bonuses & Equipment provision||De-registration with statutory bodies|
|Expenses reimbursement & business trip processing|
|Health insurance, dental treatment|
Global Employer of Record (EOR) in Greece — One-Stop Destination for Global Businesses
Managing the employment side of your business can be a full-time job in and of itself. There are many options to consider when it comes to finding help, from payroll companies, tax and immigration advisors to employee benefits brokers to human resource consultants.
One alternative to working with numerous vendors is partnering with a Global Employer of Record (EOR). International Employers of Record can manage all aspects of your business’s human resources, from benefits and payroll to unemployment management and safety training. This can free up your time so that you can focus on running your business.
A Global Employer of Record can provide a full suite of services to help you replace the following numerous vendors.
- Payroll Company
- Employee Benefits Broker
- HR Consultants
- Background Checks Vendors
- IP Attorney
- Tax Advisor
- Translation service
- Legal Advisor
- Immigration Advisor
- HR Compliance Advisor.
- Licensing Consultancy
Why You Should Look for an EOR for Your Business Expansion to Greece
1. Hiring a candidate for a new location
Today, businesses are looking for ways to save money and increase efficiency. One solution is the EOR model, which allows companies to hire the best talent regardless of location. By outsourcing work to an EOR, a business avoids establishing an entity and complies with global regulations. This makes it an ideal solution for companies that need to hire workers in multiple locations but do not have the internal resources or infrastructure to support them.
2. Test the New Market with a Global EOR without Making Long-term Investment in Greece
Stepping into a new market can be risky, both financially and reputationally. A Global Employer of Record (EOR) will take on the risk for you, making expanding your business into new markets easy and affordable.
An Employer of Record (EOR) is a legal entity that allows you to test a new market before incorporating. It also protects you from liability and other issues arising because you operate in a different state or country.
If you plan to expand your business into another state, you can use an EOR to test the waters first. Think of an EOR as a low-risk “try before buy”, allowing you to see if the new location is a good fit before incorporating. The process doesn’t require additional investment or paperwork on your part. You can also use an EOR to protect yourself from liability issues while testing out a new location or service offering.
3. A Global Employer of Record Is a Better Alternative for Entity Set Up in Greece
The Global 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 will be responsible for all tax obligations and regulatory compliance requirements on behalf of your company. 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 full control over your employees and business operations while benefitting from substantial cost savings and avoiding non-compliance risk.
4. Avoid Independent Contractor Non-compliance and Misclassification Risk
Employment and tax laws vary from country to country. You must comply with all local labour laws if you hire a worker directly. The penalties for non-compliance are steep and can include fines, imprisonment, and loss of your business license. In some countries, employers must pay payroll taxes for all employees, regardless of whether they work for the company in-house or remotely.
Labour and tax authorities in the Greece can impose penalties for misclassifying employees as independent contractors, including fines and back taxes. You could risk violating employment and tax laws if you plan to grow your business by hiring independent contractors. A Global EOR can enhance compliance by hiring contractors on your behalf and following all local in-country labour requirements.
9 Key Employment Workstreams to Outsource to a Global Employer of Record in Greece
- Tax, employment, and labor law expertise and compliance across multiple jurisdictions
- Taxation and social security
- Immigration policy framework and documentation
- Global payroll, compensation, and benefits administration
- Communications and global employment management
- Opportunities to outsource the HR function
- Leverage of payroll, compliance, and talent management technology
- Global employment process maps, guides, and other supporting documentation
- Employment contracts and onboarding documents.
Global EOR Solution in Greece: Employment Done Right and Fast
Acumen International’s EOR solution lets customers tap into the local workforce without setting up a new office or bank account. Acumen will oversee employee onboarding, payroll, and compliance with local tax laws and regulations, freeing customers to focus on the employee’s day-to-day tasks.
Our global employment cost estimation technology, coupled with our global presence, experience in managing global payroll & local compliance and immigration regulations, and knowledge of local benefits and taxes, allows our clients to optimize the management of their extended workforce. Acumen’s global EOR services are delivered leveraging a single global platform that ensures data accuracy across all countries of operation.
To help your organization legally onboard and payroll a workforce in Greece, 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 Greece to conduct business there.
Acumen International offers a global PEO and payroll solution to handle all payroll details while ensuring full compliance with in-country labor and taxation laws.
Employ your Selected Workforce via Acumen Employer of Record (EOR) in Greece
As a Global Employer of Record services provider, Acumen International helps businesses to legally engage and pay their selected highly skilled professionals in Greece.
Businesses desiring to hire local employees should be prepared to pay competitive salaries to attract and retain the most qualified candidates. Acumen International serves both end employers and service companies representing international clients as a global employment organization.
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 ex-pat employees
Acumen’s Employer of Record / EOR service in Greece offers an efficient and inexpensive alternative to direct hire. Our global Employer of Record solution allows companies to operate in Greece and in 190 international markets where we serve our clients without registering as a local business entity.
Onboard and Payroll International and Local Talent in Greece with Acumen Global Employer of Record (EOR)
Acumen’s EOR global employment solution helps businesses to overcome legal challenges by hiring and compensating their local and ex-pat workforce in Greece on their behalf in a risk-free and cost-effective manner.
If you are looking to reinforce your internal team with the expertise of Greece-based global talent, or if you have already selected a local candidate to work for you remotely and in full legal compliance in Greece, our global EOR solution is the ideal choice for you.
You can trust Acumen to handle your workforce management’s global employment and HR details in Greece to ensure full compliance with in-country employment laws.
Acumen’s Global Employer of Record (EOR) solution was designed to help international companies like yours expand their global reach and engage the brightest global talent for their projects.
In addition to legally onboarding local citizens, we can organize work permits and business visa sponsorship for your expatriate team via our Global Employer of Record and employ them on your behalf once legal permissions have been attained.
Partner with Acumen International, and let us help you handle your global 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 Greece and 190 countries where we serve our international clients.
Reduce risks while expanding your business without establishing your legal entity in Greece. Leave it to Acumen to hire and compensate your employees on your behalf, so you can focus on growing your business.
Trust us to handle the global employment and HR side of your workforce management in Greece so you are sure that none of these nuances is missed and that your employees are employed and payrolled properly and compliantly on your behalf.
Spotlight on Greece
Greece is a parliamentary republic along the Mediterranean Sea in Southeastern Europe.
- Capital: Athens.
- Official language: Greek.
- Population: 10.569.703 (July 2021).
- Labour force: 4 million (2020).
- Local currency: Euro.
- Minimum statutory salary: In 2022, the national minimum wage in Greece will remain fixed at €758.3 per month, which is 9,100 euros per year, considering 12 payments per year. The minimum wage, which applies to all employees/workers, is set by the annual National General Collective Labor Agreement (CLA).
- Salary Currency: Greece’s monetary unit is the Euro; no other currency is accepted for transactions.
13 /14 salary: Employees are entitled to an additional one month of salary at Christmas as a Christmas allowance, one-half month’s salary at Easter as an Easter allowance, and one-half month’s salary at annual vacation time as vacation allowance, thereby receiving 14 monthly salaries per year.
- Most developing industries: The main crops are tobacco (third largest European producer, 23rd worldwide) and cotton. Greece also has an important sheepherding industry, and the fishing industry is well-developed in the coastal regions. The main industrial sectors are electronics, transport equipment, clothing manufacturing, and construction. Greece has the largest maritime fleet in the world. The service sector and tourism provide an essential source of in-country income.
- Trading partners: The top countries for imports are Italy, Germany, Turkey, Cyprus, and Bulgaria. Export commodities include refined petroleum, packaged medicines, aluminum plating, computers, and cotton. The key export partners are Germany, China, Italy, the Netherlands with crude petroleum, refined petroleum, packaged medicines, cars, and ships.