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Building a remote team in Armenia?
2024 is here, and Armenia is a hot spot for remote teams. Hiring there can be tricky with all the legal and payroll rules. That's where Employer of Record (EOR) services come in. They make it easy to hire and manage a team in Armenia, handling all the legal stuff for you.
Hire employees remote in Armenia
The employee of record meaning revolves around a third-party service that legally employs individuals on behalf of another company. This arrangement is particularly useful in Armenia, where navigating local employment laws can be challenging for foreign businesses.
Think about this: you want to hire in Armenia, known for its tech talent. But dealing with employment laws? That can be tough. EOR services are your solution. They help you hire great Armenian talent, manage their pay, and take care of taxes, all without hassle.
This service, particularly beneficial for companies in Europe and the Caucasus, handles complex legal and payroll tasks. It's like having a local expert who ensures compliance with regional employment laws, making it easier for businesses to focus on growth and operations.
How do I hire the best remote employees?
To hire the best in Armenia, you need to know the local job market. It's full of skilled tech professionals. EOR services give you the inside track. They help you not just hire, but hire the best.
Employer of record agreement
An Employer of Record agreement is like your business's safety net in Armenia. It lets you hire there without having your own office. This agreement handles legal stuff, payroll, and employee benefits. It's like having a local expert on your team.
Remote work and payroll in Armenia in 2024
More companies are hiring remotely in Armenia. They use EOR services to make hiring easier. These services also handle payroll, making sure everyone gets paid right and on time, following local laws.
Overview of Armenia
Why choose Armenia? It's not just a beautiful place; it's also a growing tech hub. The tech sector here is booming, perfect for finding remote developers, programmers, and more. The talent here is diverse and skilled.
Economic overview
Armenia's economy? It's on a roll! In 2023, it grew a solid 10.5% in just half a year. That's pretty impressive. For 2024, the forecast is a growth of about 4.3%, according to the World Bank. It's a bit slower but still strong. This growth comes from people spending more, services being sold overseas, and big investments coming in.
Market size
In 2022, Armenia's economy jumped up by 12.6%. That's huge! And it's setting the stage for 2024. The market's expected to keep growing, maybe not as fast, but still in a good direction.
Hire, pay, and manage your talent in one click
Hiring and managing talent in Armenia is getting easier and smarter. With new tech and digital tools, you can now hire, pay, and manage your team in Armenia with just a click. It's all about making HR tasks simpler and more efficient.
And here's where it gets even better. At Gegidze, we've got a streamlined solution for your business needs. You can hire, pay, and manage your team effortlessly – all with a single click. It's designed to be straightforward and efficient, perfect for the fast-paced business world.
And the cherry on top? You can get a high-quality Employer of Record Services for just 199 € per person/month. This mix of convenience, efficiency, and affordability makes Gegidze your ideal partner in today's dynamic business environment.
Armenia isn't just growing economically. It's also becoming a prime spot for smart hiring and talent management. With its steady economic growth and tech-driven HR solutions, Armenia is a fantastic place for businesses in 2024.
Employer of record Armenia requirements
Navigating the employer of record landscape in Armenia? It's crucial to get the hang of local laws and practices. This means understanding everything from employee payment records to specific employer-of-record agreements. Armenia offers a unique blend of Eastern and Western business practices for businesses, especially those in Europe looking to expand. It's a great spot for outsourcing, outstaffing, and for those looking to hire freelance talent or set up a startup MVP development.
A brief of the industries in Armenia
IT
Sustainable agriculture
Tourism
Construction
Education
Renewable energy
Armenia's industry landscape in 2024 is more vibrant than ever, marked by dynamic growth across various sectors. The country has become a hub of innovation, particularly in the tech sector, which stands out as a significant powerhouse.
The global shift towards remote work has been embraced wholeheartedly in Armenia. This change aligns perfectly with the tech industry's flexible nature, making it easier for international companies to hire remote workers from Armenia.
Cost of living in Armenia
For a single individual, the monthly expenses in Armenia are estimated to be around $653.5.
Food and groceries are reasonably priced, particularly local products, and restaurant dining ranges from budget-friendly to upscale. Utilities, including electricity, heating, and internet, are generally affordable, though costs vary based on usage and service providers.
On average, living in Armenia is about 47.9% more affordable compared to the United States.
The cost of living in Armenia is an attractive proposition, especially for companies hiring remote workers or those looking to hire a dedicated team. It's affordable, which is great news for startup MVP development companies and freelancers. This affordability is also attractive for top IT staff augmentation agencies and businesses in the process of outsourcing and outstaffing.
Top industries hiring in Armenia
Armenia's job market is thriving with opportunities in various sectors. The tech industry is at the forefront, ideal for businesses looking to hire dedicated developers like Java, iOS, and Android developers. There's also a growing demand in the creative sector.
The blend of traditional and emerging industries makes Armenia a hotspot for talent, especially for outsourcing and outstaffing needs.
Top skills in Armenia
In Armenia, the top skills for 2024 are shaping up to be quite diverse. Digital literacy leads the charge, followed closely by data analysis, AI and machine learning, and coding. These skills reflect the country's growing emphasis on tech and digital innovation. Additionally, soft skills like critical thinking and active listening are also in high demand, especially in Armenia's evolving job market.
Hiring cost
When it comes to hiring costs in Armenia, it's a mix of affordability and quality. The cost of hiring includes not just salaries but also benefits and taxes. For businesses, especially startups and tech companies, Armenia offers a competitive edge with its balance of skilled labor and reasonable hiring costs. This makes it an attractive destination for companies looking to build a dedicated team or outsource specific roles.
What is the average salary in Armenia?
In 2024, the average salary in Armenia continues to be an attractive aspect for both employers and employees. As of 2023, the average wage was around 658 USD per month. With the country's economic growth, these figures are expected to rise, offering a promising outlook for job seekers and employers alike.
Payroll tax in Armenia
The payroll tax in Armenia is an important factor for businesses to consider. Starting in 2023, the income tax rate on wages and salaries is set at 20%. This rate is applicable to Armenian citizens, foreign citizens, and stateless persons. Understanding these tax implications is crucial for businesses planning their payroll budgets in Armenia.
Armenia public holidays 2024
In Armenia, the weekend typically includes Saturday and Sunday, similar to many other countries. Public holidays also play a role in determining off days. In 2024, notable holidays falling on weekends include Independence Day on a Saturday. Understanding these holidays is important for businesses and employees to plan work schedules and vacations.
New Year - December 31 to January 4, Saturday to Wednesday
Christmas - January 5 to 7, Thursday to Saturday
National Army Day - January 28, Saturday
Women's Day - March 8, Wednesday
Easter - April 9, Sunday
Genocide Remembrance Day - April 24, Monday
Labor Day - May 1, Monday
Yerkrapah Day - May 8, Monday
Victory Day - May 9, Tuesday
Day of the First Republic - May 28, Sunday
Constitution Day - July 5, Wednesday
Exaltation of the Holy Cross - September 17, Sunday
Independence Day - September 21, Thursday
Armenia's employment laws in Armenia
Armenia's employment laws got a major update in 2023. The focus? Better rights for employees and clearer rules for employers. This includes specifics on working hours, leave entitlements and the right way to handle terminations. For businesses, this means you've got to be sharp on these new rules. It's all about fair play and avoiding legal issues.
Grow your team in Armenia with remote
Armenia's becoming a go-to for remote team growth, especially in tech. Why? It's got a booming talent marketplace and a culture that's embracing remote work. This setup lets you tap into Armenia's skills without the overhead of extra office space. Plus, it's cost-effective, making it a smart move for startups and established companies.
Risks of misclassification
Misclassifying employees can lead to legal headaches like lawsuits and fines. It's crucial to distinguish between employees and freelancers, especially in remote setups. This clarity helps avoid legal issues and maintains your business's reputation.
Employing in Armenia
In 2024, Armenia's employment scene is looking up. The economy is growing, and the unemployment rate is expected to drop. Wages are also on the rise, making Armenia an attractive place for hiring. This positive trend is a big plus for companies looking to hire in Armenia, offering a pool of eager and skilled workers.
Competitive benefits package in Armenia
A strong benefits package is key in Armenia. Think health insurance, generous vacation time, and maybe some unique perks. In 2024, this is what will help you attract and retain top talent. It's about creating a package that's attractive to employees and sustainable for your business.
Taxes in Armenia
The tax landscape in Armenia in 2024 includes income tax rates set at 20% for both local and foreign citizens. Understanding these tax obligations is crucial for businesses. The mandatory declaration of income and assets for all citizens is a significant change, emphasizing transparency and compliance.
Income tax
Unified Rate: Starting January 2023, Armenia implemented a uniform income tax rate of 20% for all.
Tax on Specific Incomes: Income from interest, royalties, and property rental is taxed at a rate of 10%.
International Agreements: Armenia has established double taxation agreements with 41 countries as of 2019, aiming to prevent the same income from being taxed twice.
Value added tax (VAT)
Standard Rate: VAT in Armenia is consistently set at 20%, forming a substantial part of the national tax revenue.
Excise tax
Targeted Products: Products like tobacco are subject to an excise tax, which has been increasing annually by 3% since 2020. For detailed regulations, it's advisable to consult the Armenian tax legislation.
Property tax
Tax Rate for Specific Properties: A tax rate of 0.3% is applicable to public and industrial buildings.
Corporate tax
Consistent Corporate Tax Rate: The corporate tax in Armenia has been stable at 18%, showing no fluctuations over recent years.
It's essential for businesses operating in Armenia to be well-versed in these tax regulations to ensure compliance and effective financial management.
Types of leave
Armenia offers a range of leave options for employees, ensuring a balanced work-life environment.
Vacation leave
Standard Vacation: All employees are entitled to 28 days of paid vacation annually.
Extended Annual Leave: Up to 35 days for employees in stressful or high-risk jobs.
Additional Annual Leave: For those in hazardous conditions or irregular shifts.
Sick leave
Duration: Employees can take up to 120 days of sick leave.
Payout: The employer pays for the first 5 days, and Social Security covers the rest.
Maternity, paternity, and adoption leave
Maternity leave: 140 days (extendable), fully paid.
Paternity leave: 5 days, fully paid.
Adoption leave: 70 days, with similar payment terms.
Parental leave
Available until the child turns 3 years old for various family members or guardians.
Bereavement and jury duty leave
Bereavement leave: 3 days, unpaid.
Jury Duty leave: Paid leave for public or state duties.
Employment termination
Termination process
Employment in Armenia can be terminated under specific conditions, including mutual agreement or mandatory situations like the employer's death.
Notice period
Employers must provide advance notice before terminating an employee, with the duration typically outlined in the employment contract.
Severance pay
Employees may be entitled to severance pay, depending on factors like employment duration and the terms of the contract.
Probation periods
Employment contracts may include a probation period to assess the suitability of the employment arrangement.
Exceptional tech talent
Got a tech project and need some smart folks to help out? Whether it's one expert or a whole remote team, we make it super easy. For just 199€ a month, you can hire remote employees.
If you need to hire freelancers for your project, we got that covered too. Our platform is not just about connecting you with talent; it's about simplifying every step of the hiring process. Everything on our platform, from detailed profiles and clear pricing to our easy-to-use search function, is designed for your convenience.
Hire Android Developers
The Caucasus (Georgia, Armenia, Turkey, Azerbaijan) is a treasure trove of Android development talent. Through Gegidze, tap into this pool of experts known for their innovative and cost-effective mobile app solutions. Hiring an Android developer here means elevating your mobile app game.
Hire Graphic Designers
Unleash creativity and technical prowess with graphic designers from the Caucasus. Our talents bridge the gap to these creative professionals, ideal for businesses seeking to boost their branding and design projects remotely.
Hire Data Analysts
Data analysts from the Caucasus are your key to unlocking actionable insights. With us, you can connect with the best in class data experts, essential for businesses that rely on data-driven strategies to stay competitive.
Hire DevOps Engineers
For businesses aiming to integrate development and operations seamlessly, the Caucasus offers skilled DevOps engineers. These professionals are vital for companies planning to hire remote development teams, ensuring efficient workflows and continuous delivery.
Build dedicated remote teams in Azerbaijan
Azerbaijan's evolving business landscape offers vast opportunities to build dedicated development teams. Gegidze streamlines access to top-tier talent, including dedicated Java developers, iOS developers, and various tech experts. Whether establishing an in-house team or a dedicated sales team, our platform is your go-to solution.
Hire Marketing teams in Azerbaijan
Finding the right talent for your marketing needs is crucial, but the traditional hiring process can be lengthy and complex, especially when seeking international expertise. This often involves navigating intricate tax and payroll management issues.
Marketing is a key driver of business growth, and having a specialized team dedicated to your marketing endeavors can significantly impact your success. Opting to outsource your marketing team with Gegidze.com not only streamlines your operations but also offers substantial cost savings in terms of salaries, benefits, and operational overheads.
You can scale your staffing efforts with Gegidze. We handle the complexities of international hiring, freeing you from the administrative and legal burdens.
Hire Design teams in Azerbaijan
Elevating your brand's visual appeal is crucial in today's market, and this is where design teams play a pivotal role. In a world where first impressions are often digital, having a skilled design team is essential for creating impactful and memorable brand experiences.
From website design to social media graphics, the right design can differentiate your brand, engage your audience, and convey your message effectively.
Recognizing the importance of design, we offer you a streamlined solution for hiring top-notch design teams in Azerbaijan. With a focus on creativity and innovation, our platform connects you with talented designers who can bring fresh perspectives and cutting-edge design solutions to your projects.
Whether you need graphic designers, UI/UX experts, or branding specialists, we got you covered. Our team handles the complexities of recruitment, allowing you to focus on your core business activities.
Hire Development teams in Azerbaijan
In Azerbaijan's thriving tech scene, Gegidze is your beacon for hiring dedicated development teams. Specializing in IT outsourcing and outstaffing, we tailor our services to your business needs, ensuring perfect alignment with your goals.
Specialized Developer roles
Hire Java Developer
Hire iOS Developer
Hire Laravel Developer
Hire Angular Developer
HireDedicated Android Developer
Hire Back-end Developer
Hire Media Buyer/Advertiser
Hire Project Manager
Hire WordPress Developer
F.A.Q
What is the law on employment in Armenia?
In Armenia, employment operates under the Labor Code. This legal framework guides the employer-employee relationship, covering critical aspects such as working hours, termination procedures, and various employment conditions.