Employer Of Record In Equatorial Guinea
Skuad’s EOR Equatorial Guinea (Employer of Record Equatorial Guinea) helps your business expand into Equatorial Guinea without the need to set up an entity. Skuad's unified and automated global HR platform enables you to hire employees in Equatorial Guinea, explore business opportunities in Equatorial Guinea, and manage your payroll, benefits, etc. adhering to the local laws. Learn more on how Skuad streamlines the global expansion process for you.
Equatorial Guinea At A Glance
Equatorial Guinea is a Central African country that shares its border with Cameroon and Gabon and comprises the Rio Muni mainland and 5 volcanic offshore islands.
Population: 1.45 Million
Currency: Central African CFA franc (XAF)
Capital city: Malabo
Official Languages: Spanish(National Language), French, and Portuguese
GDP (PPP): $28.970 billion
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Employment In Equatorial Guinea
What You Must Know Before Employing In Equatorial Guinea
Equatorial Guinea Employment Laws apply to both foreign nationals and their citizens. However, there are some differences in their entitlements. Therefore to minimize the challenges that may arise for companies looking to set up a local office, it is advisable to partner with a local payroll provider who is well aware of the Equatorial Guinea laws for both local and foreign workers.
Contractors Vs. Full-Time Employees
The method of employment in Equatorial Guinea, like the rest of the world, depends upon the quality and category of employees. Following is a table that can help employers deciding upon whether to hire a freelancer or a permanent employee for their business in Equatorial Guinea.
But you do not need to care about any of these legal complications if you work with an Employer Of Record in Equatorial Guinea. Skuad is a leading EOR provider that would handle all the HR how-to’s and paperwork in compliance with Equatorial Guinea Labour Laws so that you can concentrate on generating business leads and expansion.
Click here to book a demo with Skuad.
Hiring in Equatorial Guinea
For arranging a meeting to hire employees in Equatorial Guinea, you need to send a letter to the concerned party outlining your company's background, its history, and a request for a meeting, as well as details of what you’ll cover. A minimum of two copies of the contract is required, and both copies need to be signed or sealed by both the employer and the employee. The employment contract must include:
- Name and address of the employee and employer
- Position and place of work
- Employment contract period
- Work duration and breaks
- Employees’ duty
- Insurance is provided by the employer.
Probation & Termination
The probation period of an employee in Equatorial Guinea can last up to 90 days. During this time, either the employee or employer can cancel the employment agreement by giving a 3 days’ notice.
Termination Of Service
EOR Solution In Equatorial Guinea
Business expansion is a long-drawn process that calls for extensive planning, especially when expanding to a foreign country. It is complicated and can take up to several months to complete but by choosing the EOR route for hiring employees in Equatorial Guinea, you can fast-track the expansion process. Employer of Record Equatorial Guinea (EOR) solutions by Skuad can make expansion to Equatorial Guinea much simpler and a lot quicker for business. Our global outreach and a tech-enriched HR platform ensure compliance with local labor laws by managing employment responsibilities such as monthly payroll, work permits, employment contracts as well as taxation for your employees in Equatorial Guinea. Book a demo with Skuad today.
General Employer Of Record Service Terms
Types of Visas In Equatorial Guinea
Skuad’s local partner in Equatorial Guinea can sponsor foreign workers for Equatorial Guinea work visa permits. As an EOR in Equatorial Guinea, Skuad takes care of all the requirements and responsibilities related to employment. On Skuad’s HR platform, the client company can manage their employees’ daily activities and operations anytime remotely.
For details, book a demo with an EOR agent in Equatorial Guinea and get all of your queries answered first hand. Register here to proceed.
Payroll and Taxes In Equatorial Guinea
As a foreign company, you must adhere to the local tax laws. For this, it is important to decide whether you wish to hire locals or foreigners.
Incorporation: How to Set Up A Subsidiary In Equatorial Guinea
There are a fair amount of considerations if you want to incorporate a holding company in Equatorial Guinea; subsidiary laws, availability, taxes, business opportunities in Equatorial Guinea, and many more. But first, you need to decide the location where you want to set up your company in Equatorial Guinea. Since the subsidiary laws fluctuate with region and type of subsidiary, it is suggested to partner with a Third Party Expert in Equatorial Guinea for a quick and easy setup.
Next is to choose from the Equatorial Guinea Subsidiary options;
Limited Liability Company (LLC), Public Limited Company, or a Branch.
If your company provides a large range of products and services, then it is recommended to pick LLC. If a specific product or service is provided by your company, then the Branch option would be suitable.
The procedure for setting up an LLC in Equatorial Guinea is as follows:-
- Notarized legal company statutes
- Registration of the public deed into the commercial register
- Solvency Certificate
- Open a local bank account
- Apply for Authorization of Establishment to the Prime Minister
- Apply for tax registration
- Notify the Minister of Labor once the operations start
- Register for local security
- Obtain a license for a small-medium size company from the Ministry of Commerce
- Register and obtain a license from the Ministry of Development and Planning
- Obtain a Tax Identification Number (NIF)
- Obtain a registration number from the Ministry of Labor
- Obtain a Social Security Number
PEO (Professional Employment Organization)
A Professional Employer Organization (PEO) is an organization that shares the responsibility of managing employees and payroll with your company. Unlike EOR services where the complete responsibility of compliance management lies with the outsourced company, a PEO works jointly with your business.
Skuad's EOR solution is a good way to expand your business in Equatorial Guinea without setting up a separate entity. Our solutions help you to stay focused on your business and leave all business compliances, payroll processing and complete management work to us. Connect with Skuad to know more.
Do you think you are ready to expand your company’s business operations in Equatorial Guinea? Skuad’s Employer of Record Equatorial Guinea services can make the process fast and easy by handling your HR requirements in compliance with the local labor laws. If you want to discuss how Skuad’s payroll management services can help you, please get in touch with us today!