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INS Global makes global expansion seamless. With our Employer of Record (EOR) in Monaco, you can hire and manage employees without setting up a local entity, saving time and resources while accelerating growth.
Our EOR services provide a secure, efficient, and cost-effective way to recruit and manage talent in Monaco and over 100 countries worldwide. With over a decade of experience, we empower businesses to build and oversee international teams effortlessly.
As your authorized employer, we handle all HR, payroll, and compliance tasks, enabling you to expand quickly and focus on growing your business.
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Establishing a new company can get complicated and time-consuming in Monaco. EOR support from a local EOR provider simplifies the entire process and allows you to grow your business seamlessly abroad.
Working with a Monégasque EOR…
The Advantage in Figures
PEO/EOR
Company Incorporation
Price
80% Less Expensive
Market Entry
2-5 Days
6 Months
Legal Compliance
An EOR has local experience that can help you launch in a new market efficiently while minimizing risk in Monaco. Employer of Record services also ensure that you can hire and manage employees while abiding by the latest labor regulations.
Cut Expansion Costs
Working with a local EOR allows you to streamline your expansion plans and drastically reduce your overheads. This empowers your business to expand in a more cost-efficient way.
Grow Your Business Efficiently
EORs in Monaco manage all the HR-related responsibilities on behalf of your business. In this way, you can focus on growing your business faster than ever before.
Expand Seamlessly
If you were to set up a new company abroad, the entire process could take between 4 and 12 months. Working with a EOR is more effective and can have you up and running in less than a week.
Manage Your HR Online
INS Global offers you a way to manage your diverse workforce seamlessly and remotely. This allows you to keep your finger on the pulse no matter where you are in the world.
INS Global’s EOR in Monaco allows your company to expand overseas in 4 simple steps.
1
We work with your business to create a customized expansion plan that’s perfect for your individual business needs.
2
Our organization provides a legal entity to help hire and manage staff in Monaco.
3
We handle HR-related tasks such as recruitment, contract management, and payroll processing to ensure legal compliance.
4
Your employees focus on your goals while we take care of HR and compliance.
When considering a partnership with a PEO in Monaco, you will likely also hear the term EOR (Employer of Record). Typically, the two terms are largely interchangeable based on the kind of services they offer. The main difference between the two is the level of liability taken on by the PEO/EOR and the parties involved in the agreement. Â
In Monaco both services are indistinct according to national regulations, but INS Global can offer any elements of both according to your requirementsÂ
Check Our Labor Law Guides
In Monaco, employment must always be formalized through a written offer. Employers may include a probation period of 6 days for hourly-paid employees and 1 month for monthly-paid employees. During or after the probation period, the employer has the right to terminate the employee without severance.
The employment contract should clearly outline the nature of the role and include a description of the employee’s responsibilities. If an employee breaches the contract, the employer may terminate the agreement immediately.
Regarding notice periods:
In cases of redundancy, severance pay depends on the employee’s length of service:
Working Hours in Monaco
Annual Leave in Monaco
Sick Leave in Monaco
Parental Leave
In Monaco, employers are responsible for deducting all applicable taxes and social contributions from employees’ salaries. Employees are not subject to income tax unless they are French nationals residing in Monaco, in which case the French tax rate applies.
Employers must contribute the equivalent of 15.05% of an employee’s salary to sickness insurance, 8.03% to the state pension system, and 4.05% to unemployment insurance. Meanwhile, employees contribute 6.55% of their salary to the state pension and 2.4% to unemployment insurance.
The corporate income tax rate in Monaco is 25%.
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faqs
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.
Liabilities may vary from country to country and include all the staff management responsibilities: labor contract issues, payroll management, and tax compliance, social security management, expenses claim declaration, hiring and termination
procedures, etc.
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.
Certainly, working with an Employer of Record in Monaco is a legal and efficient solution that streamlines your expansion plans while reducing costs.Â
Salaries are usually processed monthly for full-time employees, while part-time workers may prefer weekly or bi-monthly payments. Employers deduct taxes and social contributions at source.Â
Absolutely, a Monégasque Employer of Record can recruit and hire employees from all regions, expanding your talent pool.Â
Modifications to employment contracts require mutual agreement. A Monégasque PEO ensures compliance with local labor laws.Â
Yes, employers in Monaco are responsible for deducting taxes and social contributions from employee salaries.Â
Termination costs vary depending on the circumstances. Employees are generally entitled to 1/4 of their monthly salary for every year of service for the first 10 years. If they have been with the company for more than 10 years, they are entitled to 1/3 of their monthly salary for each year.Â
In Monaco, you have the flexibility to hire employees for both in-person and remote opportunities, ensuring cost-efficiency during market entry.Â
Certainly! Our recruitment experts have extensive experience in hiring top talent globally. We provide comprehensive support in recruiting, hiring, and managing your workforce, regardless of your location.Â
Monaco observes 13 public holidays, and most employees are entitled to a paid day off. Working on these holidays usually involves a higher hourly rate.Â
Employers must adhere to strict labor laws and regulations to avoid penalties and fines. Collaborating with an experienced PEO in Monaco ensures compliance and seamless expansion.Â
A Global Employer of Record is an effective solutions for companies like yours that are looking to expand a workforce abroad effortlessly.
This approach allows you to outsource the international hiring process quickly and efficiency, providing access to a global talent pool while still managing payroll compliance in each country.
Level 39, Marina Bay Financial Centre Tower 2, 10 Marina Boulevard
Singapore 018983ÂPublic Holidays Calendar
Monaco
| Date | Day | Holiday | Notes |
| January 1 | Wednesday | New Year’s Day | Celebration of the beginning of the Gregorian calendar year |
| January 27 | Monday | Saint Dévote’s Day | Honors Monaco’s patron saint; traditional celebrations include a boat-burning ceremony |
| April 21 | Monday | Easter Monday | Christian holiday commemorating the resurrection of Jesus Christ |
| May 1 | Thursday | Labour Day | International Workers’ Day; celebrates labor and workers’ rights |
| May 29 | Thursday | Ascension Day | Christian holiday commemorating the ascension of Jesus into heaven |
| June 9 | Monday | Whit Monday | Christian holiday celebrated the day after Pentecost |
| June 19 | Thursday | Corpus Christi | Christian feast celebrating the Eucharist |
| August 15 | Friday | Assumption Day | Christian holiday commemorating the assumption of the Virgin Mary into heaven |
| November 1 | Saturday | All Saints’ Day | Christian holiday honoring all saints |
| November 19 | Wednesday | National Day (Prince’s Day) | Celebrates the reigning prince; includes official ceremonies and festivities |
| December 8 | Monday | Immaculate Conception | Christian holiday celebrating the conception of the Virgin Mary free from original sin |
| December 25 | Thursday | Christmas Day | Christian holiday celebrating the birth of Jesus Christ |
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