Testimonial
Manuel Ramos
TERAO ASIA
Managing Director
We think INS Global is a good solution about starting in a market like China. Understanding the market doesn’t mean you need to set up a company immediately.
5/5
With INS Global you can enter new markets faster, easier, and with greater legal security. Expanding into a new foreign country can be challenging, and you may face setbacks if you try to manage the processes on your own. Partnering with INS Global gives you immediate access to a team of specialized experts who are available to offer counsel and solutions at all times.
Having an Employer of Record (EOR) in Serbia allows you to set up quickly and begin operations without a long wait time. With an EOR you can recruit local talent and ensure timely payroll for all your employees while remaining compliant with local labor laws.
An EOR is not unlike a Professional Employer Organization (PEO), which is another kind of organization that handles HR services and other administrative tasks. A PEO partner acts as the legal entity through which you can bring staff over and enter the Serbian market unhindered by obstacles.
Entering a new market comes a new set of labor and employment laws to adhere to. Instead of worrying about making compliance errors and receiving heavy fines, a PEO can make sure that you and all your employees are legally secure.
A PEO handles every aspect of recruitment, payroll, and HR services so that you don’t have to outsource those tasks to multiple providers.
Expanding with company incorporation can take up to a year before operations are running smoothly. A PEO can have you set up in just a few days.
When you partner with a PEO, you’ll find that you don’t have to waste time managing every aspect of administration. Instead, you can invest your energy towards progressing closer to your target goals.
With a single point of contact you can have all the support you need for smooth global expansion.
Company incorporation typically involves setting up a separate branch or subsidiary of the company. This involves registration, obtaining licenses, and many other time-consuming steps. A PEO cuts through all that red tape by acting as the legal entity so that you can bring staff over and start operating in the new market speedily and securely.
With a PEO you also have the advantage of:
Manuel Ramos
TERAO ASIA
Managing Director
We think INS Global is a good solution about starting in a market like China. Understanding the market doesn’t mean you need to set up a company immediately.
INS Global has a simple time-tested four step plan to bring your expansion goals to life:
Even though a PEO and EOR offer similar services, there are some crucial differences that set them apart. Before you decide which one to partner with it’s important to understand how each service works so that you can pick the one that’s best suited for your needs.
Serbian EOR services are priced as a proportion of the co-employed worker‘s wage. This fee is charged at source as part of the payroll procedure and provides all HR functions.
Yes, using a local EOR, you can securely and legally employ people in Serbia. EOR services offer a solution to securely hire or transfer employees to Serbia without needing a local company structure.
In Serbia, employers are required to provide for their employees’ complete safety. EOR services give employers everything they need to efficiently handle their obligations in Serbia while having a guarantee of compliant employment contracts and management.
With an EOR, you can enter a new market without requiring a local organization of your own. Doing this gives your employees all the local rights and benefits they need for a single low monthly charge.
Through an EOR contract, an independent contractor in Serbia has the option to access employee benefits while still having complete control over their work and work processes. You can interact with local contractors this way, and the EOR will be in charge of contractor classification and proper payment.
Our recruiting agency in Serbia can provide expert hiring services with strict adherence to hiring best practices thanks to various local resources and extensive recruitment networks. Our recruiting specialists can find the best local or foreign talent because they are deeply familiar with all local benchmarks and regulations.
You can find the best worldwide recruiters in Serbia and beyond with INS Global‘s recruitment agency solution. EOR services in the nation are simple to incorporate, with a custom hiring procedure considering any and all regional or local variations in employment standards.
INS Global gives you the scalability you need to hire staff and expand in 100+ countries without having to meet any minimum or maximum service requirements.
Your global expansion might demand the flexibility to respond swiftly to rapidly changing markets worldwide. Because of this, the amount of employees you can hire through INS Global’s local structures is not capped, unlike with other EOR or PEO suppliers.
Payroll taxes, recruiting fees, and signing bonuses are only a few of the direct and indirect costs of employment in Serbia. However, an EOR or PEO service can handle all of this for a single cost.
Working in Serbia could also include less obvious expenses like incentive schemes, handling the relocation expenses of foreign workers, and any costs associated with establishing local institutions. With these costs, an in-depth idea of local benchmarks helps to reduce unnecessary expenditures.
You can eliminate the necessity for a local physical location, which could be required as part of the company incorporation procedure, by using global EOR services.
You can then choose whether or not to give your employees a physical space in Serbia to carry out their tasks in a way that’s convenient and efficient.
Certain employee benefits or requirements may be different for Serbian and foreign citizens under national labor laws. In these situations, INS Global can offer both groups of workers complete compliance assurance and can react swiftly to any changes in local or international standards.
Firms of all sizes, from small firms to massive multinationals, can leverage EOR and PEO solutions to hasten their success in a new market. Thanks to innovative options for employment outsourcing, it is now possible to employ local or foreign workers effectively and securely.
Our services can even replace more complex internal HR obligations while offering simple ways to scale up to handle the demand for new workers.
Businesses in various industries that either don’t have their own structures in a target country (or wish to minimize cost-scaling concerns) may benefit most from the legal expertise offered by PEO and EOR services.
You can hire contractors through a certified local organization, an umbrella business, or staffing agency services in addition to using local Serbian PEO services or an EOR in Serbia. Using contractors securely and effectively without worrying about misclassification is another benefit of outsourcing the need to hire and pay contractors in Serbia.
Although you are not required to provide employee benefits or protections, you must ensure that contractors in Serbia are paid correctly. By using an EOR, you can be sure of the caliber of the contractors you hire, and they will be able to work more productively because of the incentives provided by a local EOR organization.
Employers usually organize payroll in Serbia on a monthly basis, with the expectation that they withhold income tax and social security contributions at source. This includes all taxes at both a local and worldwide level, if applicable.
In 2023, the minimum wage in Serbia was increased to RSD 40,020 per month for full-time workers.
There is an extensive list of countries that do not require a visa for stays in Serbia of less than 3 months in 180 days.
Those intending to live and work in Serbia require a long-stay (type D) visa, which can be used to apply for a temporary residence permit valid for up to a year at a time.
Employers in Serbia contribute the equivalent of 15.5% of an employee’s wage to their social security fund, which covers pension, disability, and health insurance.
Additionally, an employer is responsible for maintaining a safe working environment and providing all employees with the training and equipment needed to do their job.
Employees in Serbia must be guaranteed, at a minimum, a wage in line with national minimums, paid vacations each year, reasonable working hours, severance pay and notice periods in case of termination, social security contributions, paid sick leave, and parental benefits.
Other typical employee benefits include supplementary health insurance and additional paid time off.
All modifications to an employment contract in Serbia must be made with an employee‘s approval. If an employee does not agree to a justifiable change, the employer can terminate their employment depending on the circumstances.
Serbia‘s healthcare system is largely public, with the system being funded by payroll taxes. When using healthcare services, some of the cost is paid out of pocket, depending on the services or medication required. In addition, there are private healthcare options available.
Notice periods in Serbia depend on the circumstances of the employment termination. Notice periods range from 5 days (for employees in their probation period) to 1 month (for full-time workers).
Employees are eligible for severance pay in the event of layoffs. This severance pay must be equal to at least 1/3 of a month’s wage per year of employment.
In the event of disputes, the Republic Agency for the Peaceful Settlement of Labor Disputes oversees and considers the situation.
In addition to paid annual leave, Serbia typically has 12 days of public holiday per year. Employers are expected to provide paid time off if it falls on a typical working day.
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