Are you looking for the best way to hire talented employees in Serbia? Choosing a global Employer of Record (EOR) is a great option for companies anywhere to access high-quality talent in Serbia.
Partnering with an EOR will ensure a smooth process that adheres to local laws and regulations. Let’s explore how an EOR can help.
Reasons to Employ in Serbia
Hiring talent in Serbia is an attractive option for businesses looking to benefit from its highly skilled, creative, and hardworking workforce, especially in the IT field. The cost of hiring in Serbia is significantly lower than recruitment in the US, Canada, or Europe. Serbia’s low cost of living makes it a great choice for those looking to cut costs without compromising on quality. Due to its location, expanding to Serbia also opens up opportunities in Europe.
What Does a Global EOR Do?
Hiring a global Employer of Record (EOR) in Serbia is a great way for businesses to easily access the local talent and expertise. With an EOR, you don’t have to set up a legal entity. An EOR provides a “legal umbrella” for companies looking to operate in a foreign jurisdiction, handling all payroll, employee benefits, and onboarding. Ultimately, EORs ensure full compliance with local labor laws so that you don't have to.
Paperwork
An EOR will handle any contracts, taxes, insurance coverage, and other paperwork required when employing personnel overseas. This allows businesses to stay compliant with local regulations while accessing the best talent available on the market.
Professional Advice
A global EOR can provide invaluable guidance on how to structure employment contracts to ensure compliance with Serbian laws. It can also offer professional advice on managing employment relationships abroad and navigating through cultural differences.
Point of Contact
By acting as the single point of contact between companies and local authorities, an EOR can quickly resolve any issues that may arise during business operations.
Overall, using an EOR in Serbia is an attractive option for businesses looking for cost-effective ways to hire overseas talent without facing any legal or administrative headaches.
Benefits of Hiring an Employee with an EOR in Serbia
If you're looking to hire employees in Serbia, working with an Employer of Record is a great option. It can save your business time and money while ensuring compliance with local labor laws.
An EOR provides experienced support throughout the hiring process, from onboarding to payroll processing. It also knows the ins and outs of Serbian labor regulations and provides advice on how to structure contracts accordingly. What's more, it makes it easier for international employers to onboard talent without navigating complex legal processes.
Employee Insurance and Benefits
Employee insurance and benefits are a crucial part of the hiring process in Serbia. Companies looking to hire through an EOR must ensure that all policies and procedures adhere to local labor laws and regulations.
Contracts and Documentation
An EOR is responsible for keeping accurate records of all contracts and providing copies to employees or employers upon request. An EOR can also help employers draft employee contracts with their knowledge of Serbian working legislation.
Paid Vacation and Public Holidays
When engaging employees in Serbia, employers must be well-informed on the country's rules about annual leave and public holidays. This includes understanding the relevant legal requirements; agreeing on arrangements with employees before work begins, and staying abreast of any changes in legislation or regulations. An EOR can help.
Serbia currently observes these public holidays.
- January 1-3: New Year’s Holiday
- January 7: Julian Orthodox Christmas
- January 27: Saint Sava’s Day
- February 15 and 16: Serbian Statehood Day
- April (varies yearly) 14, 15, 16 and 17: Orthodox Easter Holidays
- April 22: National Holocaust Remembrance Day
- May 1 and 2: May Day
- May 9: Victory Day
- June 28: Saint Vitus’ Day
- October 21: World War II Serbian Victims Remembrance Day
- November 11: Armistice Day
- December 25: Christmas
Taxes and Social Security Contributions
Any business needs to understand the differences between taxes and social security contributions, as well as the rates for both employees and employers. An EOR can help with this.
Personal income taxes in Serbia are set at a flat rate and range between 10% and 20% depending on the income type. Additionally, employers are responsible for withholding taxes from their employees' wages each month. The deadline for filing taxes is usually around mid-April each year.
Social security contributions in Serbia are also set at a flat rate of 15% for both employees and employers. These contributions go towards funding pensions, health insurance, and other benefits provided by the state. Once again, an EOR can help with these obligations.
Additional Employee Benefits
Employers should also be aware that various types of additional employee benefits may be provided in Serbia, such as special bonuses for long-term service or performance achievements. It is important to ensure that any additional employee benefits comply with local labor laws and regulations.
How to Choose the Right EOR for Your Business
When it comes to hiring an employee through an EOR in Serbia, choose the right partner for you. The key considerations when selecting an EOR include:
- Researching their track record and client base
- Evaluating their legal compliance and industry experience
- Assessing customer service and personalization options
- Understanding their pricing structure and payment terms
- Verifying that they are compliant with your company's internal policies.
Ultimately, considering all these factors will help you make an informed decision when selecting an EOR in Serbia.
Borderless: The Global Employer of Record Your Company Needs
Are you struggling to hire in Serbia? Let’s work together so you can compliantly hire the top talent without the legal headaches. Book a demo with Borderless today.
Disclaimer
Borderless does not provide legal services or legal advice to anyone. This includes customers, contractors, employees, partners, and the general public. We are not lawyers or paralegals. Please read our full disclaimer here.
