Testimonial
Manuel Ramos
TERAO ASIA
Managing Director
We think INS Global is a good solution about starting business in new and complex markets. Understanding the market doesn’t mean you need to set up a company immediately.
5/5
INS Global is a local partner to international companies by providing global Human Resources outsourcing services. With our PEO, you can quickly establish yourself, hire talented workers, and start operating in dozens of countries worldwide, saving time and costs.
A PEO (Professional Employer Organization), often called a global EOR (Employer of Record) can provide companies with a cost-effective, quick, and simplified global mobility and expansion strategy by taking care of essential HR services and offering compliance assurance in unfamiliar markets. INS Global’s PEO in Greece allows companies to hire or transfer employees within 48 hours.
An Employer of Record (EOR) in Greece provides companies with a cost-efficient and secure way to follow global expansion strategies by acting as the employer for oversees workers to simplify tax and compliance assurance responsibilities. For companies looking to boost their global mobility potential, INS Global’s EOR provides the perfect mix of experience and expertise in the international market.
A Professional Employer Organization (PEO), like an Employer of Record (EOR), is a local business partner that helps companies outsource their essential HR functions and expand their enterprise into a new country without a separate legal entity.
Thanks to your PEO’s team of expert legal specialists, you can be assured of being in complete legal compliance at all times.
Mistakes and misunderstandings with local regulations can lead to high fees and fines. A PEO will help you avoid these errors and ensure your staff can focus on operations.
You’ll be able to fully concentrate on reaching your target growth while the PEO provider handles HR functions like payroll outsourcing and contractor management.
Company incorporation in a new country can take up to a year. With a PEO, you’ll be able to begin operations within a week.
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A PEO partner offers full support for all of your HR needs and streamlines them into a single point of contact.
Bringing your company into a new foreign market is not an easy process, and it often demands a legal and physical presence to begin operations. A PEO helps you to avoid these issues and any other potential setbacks by operating as a legal intermediary.
Manuel Ramos
TERAO ASIA
Managing Director
We think INS Global is a good solution about starting business in new and complex markets. Understanding the market doesn’t mean you need to set up a company immediately.
INS Global’s PEO in Greece can be used to manage your employee recruitment needs in 4 simple steps:
Once you’ve decided to bring your company to Greece, you should make sure that you understand the potential differences between a PEO and an EOR.
A PEO provides HR outsourcing services to employees in companies that want to expand globally. This includes tax compliance, payroll outsourcing management, and regulatory assurance, and more.
INS Global offers both Professional Employer Organization and Employer of Record services in Greece. Don’t hesitate to contact our team of experts today, or you can read this article to learn more about the specifics of these two services.
The conditions of employment, such as salary, benefits, working hours, etc. must be presented in written form.
The language in a contract must be Greek, and all currencies should be in Euros.
Contracts must be provided to employees within a fixed time, depending on the employment type.
A five-day, 40-hour working week is the standard in Greece. Any work beyond 45 hours a week is counted as overtime and must be compensated at 120% standard wages. Overtime work should not exceed three hours per day.
Employees in Greece also expect to receive bonuses at holidays throughout the year.
There are 12 days of paid public holidays each year in Greece. If an employee must work on one of these holidays, they are entitled to an additional 175% of their usual wage.
After working for one year, employees who work 5-day work weeks are entitled to 24 days of paid leave. Those who work six-day work weeks get 24 days of vacation annually.
The number of paid vacation days is typically increased by one each year after the first of employment.
The employer covers the first three days of sick leave at 50% of the employee’s regular wage. Social insurance continues payment from the fourth day forward.
Maternity leave in Greece is 17 days, typically taken 8 weeks before birth and 9 weeks after. If the mother has paid social insurance for 200 days before applying for maternity leave, they will receive 50% of their wage.
Fathers also receive paid paternity leave, from 2 days to 2 weeks, depending on their terms of service.
Employees with children under the age of 16 are entitled to up to 4 days of paid leave for their child’s education. Parents who have been employed for a minimum of one year can also apply for unpaid parental leave for up to 4 months if their child is under 6 years of age.
Based on annual income amounts, personal income tax is levied progressively between 9-44%.
Employees who have worked a minimum of 50 days in the previous 15 months are eligible for free health and dental care via social security.
Employers and employees in Greece are also expected to pay a percentage of standard earnings towards social security. Social security contributions are 24.33% for the employer and 15.33% for the employee. These payments are capped monthly at EUR6600.
Corporate tax in Greece is 24%.
No, it is necessary to use a local entity abroad to comply with each country labor law.
Foreign companies can either set up a local entity in each country or use the services a local PEO (Professional Employment Organization) to hire the staff on-site directly.
The employer of record is the legal entity liable for the staff employed in a specific country. In practice, a foreign company can either open a subsidiary to become the employer of record of its abroad employees or use a PEO to act as the employer of record.
In general, 1-month is necessary to have an employee based out abroad using an existing PEO as the employe of record. When incorporating a new subsidiary to be the employer of record, the delay varies from 4-12 months.
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