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  1. Overview: Armenia
  2. Expand without a company set up
  3. Global PEO and payroll
  4. Global HR Compliance
  5. Contractor vs. employee: which is better?
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Global Employer of Record in Armenia

Definition of Global Employer of Record (EOR)

A Global Employer of Record (EOR) is a service provider that allows companies to hire employees in foreign countries without establishing a legal entity in those jurisdictions. Essentially, the EOR serves as the legal employer for your international workers, handling tasks such as payroll, tax withholding, benefits administration, and compliance with local employment laws. This allows the client company to focus on their core business activities while expanding into new markets, including Armenia, without the administrative burden of maintaining a local presence.

Employer of Record vs. Global Employer of Record

While both an Employer of Record and a Global Employer of Record perform similar functions, the key difference is in their geographic scope. An Employer of Record typically operates within a single country or a specific jurisdiction, helping businesses with local employment needs. In contrast, a Global Employer of Record has the capacity to manage employment tasks across multiple countries, including Armenia, offering a single point of contact for global workforce management.

Global EOR (Employer of Record) Services: Save Up to 80% of Employee Management Cost in Armenia

Regarding international business expansion, traditional methods often come with high costs and long timelines. Setting up a legal entity in a new country requires significant investment and time-consuming due diligence, from legal compliance to administrative setup. Our table below paints a stark picture: The conventional approach can rack up costs of more than $74,000 and take over 10 weeks to get off the ground.

Express Global Employment offers a game-changing alternative through our Global Employer of Record (EOR) services. We drastically cut your market entry costs to approximately $15,000 and reduce the time-to-market to 72 hours. And that’s just the tip of the iceberg. From eliminating the need for in-house staff to manage your foreign entity to drastically reducing legal advisor fees, our Global EOR solution offers unparalleled efficiency and cost-effectiveness.

In the table below, compare the average costs and time involved in traditional expansion methods versus our streamlined Global EOR service, and discover how you could save up to 80% on employee management costs.

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 set-up, 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

Global Employment Services in Armenia

Navigating the labyrinthine laws and regulations of international expansion is often daunting for businesses, especially when compliantly hiring employees abroad. The typical course of action involves setting up a local legal entity in a foreign country, a venture that can be both resource-intensive and time-consuming.

Express Global Employment offers a transformative alternative with our specialized Global Employer of Record (EOR) services in Armenia. Instead of burdening your organization with the complexities of establishing a local entity, we step in as your on-the-ground employer for legal and administrative functions. By doing so, we mitigate risks, accelerate your time-to-market, and allow you to concentrate on your core business objectives while ensuring you stay fully compliant with Armenia’s specific labour laws and regulations.

Opt for Express Global Employment’s Global EOR services and redefine how you think about Armenia’s workforce expansion. Experience a compliant, streamlined, cost-effective way to grow your international presence.

1. Recruitment

2. Global Mobility

3. Checks

4. Onboarding

5. Payroll Administration

6. Working Time & PTO Processing

7. Benefits Administration

8. Tax Administration & Reporting

Offboarding

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

Spotlight on Armenia

Armenia, officially the Republic of Armenia, is a landlocked country in Southwestern Asia, between Turkey and Azerbaijan. Armenia views itself as part of Europe; geopolitically, it can be classified as falling within Europe, the Middle East, or both.

  • Capital: Yerevan.
  • Language: Armenian.
  • Population: 3.011.609 (July 2021).
  • Industries: Armenia’s economy is based on agriculture, mineral exploitation, hydroelectricity, telecommunications, jewellery, and tourism. The main branches are brandy, mining, diamond processing, metal-cutting machine tools, forging and pressing machines, electric motors, knitted wear, hosiery, shoes, silk fabric, chemicals, trucks, instruments, microelectronics, jewellery, software, food processing.
  • Trading partners: Armenia’s top export partners are Russia, Switzerland, China, Bulgaria, Iraq, Serbia, Netherlands, and Germany. Export commodities include copper ore, gold, tobacco, liquors, and iron alloys. The main import partners are Russia, China, Georgia, Iran, and Turkey, and import commodities are natural gas, cars, refined petroleum, broadcasting equipment, and diamonds.
  • Local currency: The dram (AMD).
  • Minimum wage: The minimum wage has been revised in Armenia from 01 January 2023. The national minimum wage is increased from AMD68,000.00 to AMD75,000.00 per month.
  • Salary currency: A wage is paid in the currency of the Republic of Armenia (dram).

Elevate Your Global Workforce Strategy with Our Comprehensive Global EOR Services in Armenia and Beyond

Breaking into new international markets is an exciting yet challenging venture, complicated by intricate legal frameworks and varied employment landscapes. That’s where Express Global Employment’s Global Employer of Record (EOR) services can be your strategic advantage. We specialize in the seamless hiring, payment, and management of your team members, wherever they may be.

Our Global EOR services go beyond mere compliance; they offer an integrated, singular platform for efficient workforce management in Armenia and globally. Our expertise becomes your asset—freeing you to focus on your core business while we care for your most valuable resource: talent.

7 Strategic Benefits of Our Global EOR Services

  1. Streamlined Talent Acquisition: Employ top-tier talent without the administrative burden of establishing a local entity in each new market.
  2. Global Mobility Support: Retain your high-performing employees by offering flexible relocation opportunities across international borders.
  3. Market Exploration: Safely and efficiently test the waters in new markets without a heavy upfront investment.
  4. Bridging Operational Gaps: Use our services to navigate hiring delays as you establish new operations, ensuring business continuity.
  5. Risk Mitigation: Convert independent contractors into EOR-supported employees, reducing your exposure to financial and legal liabilities.
  6. M&A Transitioning: Execute seamless and cost-effective employee transitions during mergers and acquisitions.
  7. Smooth Divestitures: Manage the sale or spin-off of business units without causing disruptions to your day-to-day operations.

Trust Express Global Employment to be your navigator and supporter as you scale the heights of global business expansion. We’re not just a service provider but your strategic partner in global talent management.

When Should You Rely on a Global Employer of Record in Armenia

Expanding your workforce overseas doesn’t have to be an overwhelming task. A Global Employer of Record can be the helping hand you need. Here are twelve key scenarios where their assistance can make all the difference.

1 Unhappiness with the Current Provider You have hired an employee but are unhappy with your current service provider and looking for better options.
2 Contractor Compliance You have decided to hire an independent contractor instead of a full-time employee, and you need help ensuring compliance with local labour, tax, and immigration laws.
3 Quality Improvement You seek to enhance the quality of employment services while avoiding the risk and hassle of dealing with multiple service providers in different jurisdictions.
4 Budget Constraints Your company can no longer afford to maintain a fully-fledged legal operation in the target country and needs a more cost-effective solution.
5 Temporary Projects You have a temporary or short-term project in a foreign country that does not warrant setting up a full legal entity.
6 Hiring Foreign Workforce You must hire a foreign workforce for a new international project and ensure legal compliance.
7 Business Transitions Your company is undergoing a business transition such as mergers, acquisitions, or shutdowns, and you want to ensure smooth and compliant employee transitions.
8 NGO Staffing You are an NGO that needs to hire professionals in different locations across the globe quickly.
9 Interim Employment Solution You are in the process of establishing a legal entity in a foreign country but need an interim solution for hiring and payroll.
10 Scaling up Operations Your company is rapidly growing and needs to hire in countries where you don’t have an established presence yet.
11 Remote Work Expansion You want to leverage the global talent pool by enabling remote work, but you need help with the employment regulations in each worker’s country.
12 Reducing Legal Liability Your company wants to reduce potential legal liabilities related to international employment and seeks expert assistance.
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