Acumen International stands with Ukraine and the country's people. Join us

Employ Candidates Compliantly in Turkmenistan

Get Express Quote
  1. Overview: Turkmenistan
  2. Expand without a company set up
  3. Global HR Compliance
  4. Global PEO and payroll
  5. Contractor vs. employee: which is better?
  6. Global Payroll Calculator
Other counrtries

Global Employer of Record in Turkmenistan

What Is a Global Employer of Record?

A Global Employer of Record (Global EOR) is a third-party organisation that shoulders the legal and administrative responsibilities of hiring, employing, and managing staff on behalf of a client company. Unlike a standard Employer of Record, a Global EOR can operate across multiple countries, offering a unified solution for managing international employees.

This international talent engagement model is especially advantageous for companies expanding into new markets. Typically, such expansion would require establishing a local legal entity, a time-consuming process laden with bureaucratic hurdles. Global EOR circumvents this necessity. It allows companies to deploy staff in multiple jurisdictions without navigating the complexities of local employment laws, tax structures, and compliance norms. This streamlined approach eliminates the daunting upfront investment and operational costs of establishing a foreign subsidiary or business unit.

The flexibility of a Global EOR model makes it ideal for market testing and agile operations. Companies can quickly enter and exit markets, scaling their workforce up or down based on real-time needs and market conditions. Not only does this minimise risk, but it also preserves the company’s existing tax structure and corporate governance framework. The result is a more efficient, compliant, and strategic approach to international business expansion.

Get Express Quote

Advantages of Using a Global EOR for Your Global Employment Journey

Navigating the complex landscape of international business poses numerous challenges, from understanding varying employment laws and tax structures to cultural differences and market dynamics. These complexities can often be overwhelming, especially for organisations that need more resources or expertise to manage operations across different jurisdictions. This is where the value of partnering with a Global Employer of Record (GEOR) becomes exceptionally clear.

A Global EOR simplifies these complexities and offers strategic advantages to accelerate global expansion plans. By acting as a centralised hub for employment compliance, payroll and tax administration, and local market understanding, a Global EOR enables you to focus on core business functions. At the same time, it handles the nuances of international employment.

Below are some of the key benefits:

1. Low-Risk, Low-Cost Entry into New Markets

Expanding your business across international borders often comes with significant risks and expenses. A GEOR mitigates these factors by providing a low-risk, cost-effective solution. You no longer have to invest heavily in establishing a local entity, saving time and money. This reduced financial outlay makes international expansion accessible, even for SMEs and start-ups.

2. No Need for Local Resources or Entity Establishment in Turkmenistan

Global expansion typically involves setting up local offices, hiring local staff, and navigating local employment laws—time-consuming and costly tasks. A Global EOR eliminates these burdens by serving as your local entity, managing employment compliance, payroll, and benefits, all while you maintain operational control over your workforce.

3. Test the Market Before Making a Major Commitment in Turkmenistan

Market validation is crucial before committing significant resources to an international venture. With a GEOR, you can engage talent and conduct business activities in a new market without making a long-term commitment. This “try before you buy” approach allows you to evaluate the market’s viability and potential return on investment more accurately.

4. Local Expertise in Multiple Countries from a Single Global EOR Partner in Turkmenistan

While one of the advantages of using a Global Employer of Record is that you don’t need to have local expertise, the reality is even more beneficial: you gain the local expertise of your Global EOR partner. With their extensive knowledge of local employment laws, tax regulations, and cultural nuances across multiple jurisdictions, a Global EOR serves as a reservoir of local expertise you can tap into. 

Instead of having to learn the intricacies of each country’s legal and cultural landscape, you have instant access to this information, all from a single, centralised source. This streamlines operations and enhances the quality of your global employment strategies.

Global Employment Solutions

Compliance and legal guidance at every step of the Global Employment Journey. 24/7 local support.

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 specialised 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 EOR (Employer of Record) Services: Save Up to 80% of Employee Management Costs in Turkmenistan

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.

Get Express Quote

Spotlight on Turkmenistan

Turkmenistan is a country with a strong economy and a number of investment opportunities. The government is committed to promoting economic growth and creating jobs. Turkmenistan is a good place to do business, and there are a number of opportunities for foreign investors.

  • Location: Turkmenistan is a landlocked country in Central Asia, bordered by Afghanistan to the southeast, Iran to the southwest, Uzbekistan to the northeast, Kazakhstan to the northwest, and the Caspian Sea to the west.
  • Capital: Ashgabat
  • Population: 6.3 million (2023)
  • Local currency: Turkmen new manat (TMT)
  • Industries: Turkmenistan’s key sectors include natural gas, oil and petroleum products, plastics, agriculture, and textiles.

Economic Outlook

Turkmenistan is a hydrocarbon-rich country with the world’s fourth-largest reserves of natural gas. The oil and gas sector accounts for over 80% of the country’s GDP. According to the World Bank, the Turkmenistan economy is expected to grow by 4.5% in 2023. This is a slowdown from the 6.3% growth rate recorded in 2022, but it is still higher than the average growth rate for Central Asia.

The slowdown in growth is due to a number of factors, including the global economic slowdown, the war in Ukraine, and rising inflation. However, the Turkmenistan economy is supported by a number of factors, such as a young and growing population, abundant natural resources, and a strategic location.

Investment Opportunities

Turkmenistan is a country with a number of investment opportunities, including:

  • Oil and gas: Turkmenistan is a major oil and gas producer, and there are opportunities for investment in exploration, production, and refining.
  • Petrochemicals: Turkmenistan is investing heavily in the development of its petrochemical sector, and there are opportunities for investment in petrochemical plants and other related infrastructure.
  • Agriculture: Turkmenistan has a lot of agricultural potential, and there are opportunities for investment in irrigation systems, agricultural machinery, and food processing plants.
  • Textiles: Turkmenistan has a long tradition of textile production, and there are opportunities for investment in cotton plantations, spinning mills, and textile factories.

Simplify Global Expansion with Express Global Employment in Turkmenistan

Navigating the maze of international employment can be daunting, especially when it comes to ensuring legal compliance in foreign jurisdictions like Turkmenistan. Establishing a legal entity in another country is often complicated, expensive, and time-consuming.

Legal Onboarding Without the Hassle

Express Global Employment offers a robust Employer of Record (EOR) solution designed to bypass these hurdles. With our EOR service, you no longer need to establish a legal entity in Turkmenistan to onboard and payroll your selected workforce. This allows you to tap into the local talent pool while sidestepping the complexities and risks associated with direct hiring.

Comprehensive Support for Global HR Needs

Our services extend beyond just legalities. We support your global HR requirements, such as talent acquisition and retention, aiding in your rapid entry into new markets like Turkmenistan, all while ensuring full compliance with local laws and regulations. This dual focus on global expansion and local compliance makes us an invaluable partner in your international business ventures.

Risk-free, Cost-effective Operations

Our Global Employer of Record solution is an efficient and budget-friendly alternative to direct hiring. Operating in Turkmenistan and across 190 other global markets becomes vastly simplified, allowing you to focus on your core business activities. With Express Global Employment, all legal requirements are assured, from hiring to payrolling your local and expatriate staff in Turkmenistan.

Leave the Complexity to Us

By partnering with Express Global Employment, you significantly reduce your operational risks. We take on the responsibility of full legal compliance, including work permits and business visas for your expatriate team, allowing you to concentrate on growing your business.

Let Express Global Employment be your gateway to simplifying global employment and HR management in Turkmenistan. Choose us and devote your energy and resources to what you do best—growing your business.

Get Express Quote

Ready to Get Started?
Get Express Quote