You have several factors to worry about every time you open a new location, but expanding internationally comes with additional challenges. While it's exciting to push your company across borders and into...
Read MoreYou have several factors to worry about every time you open a new location, but expanding internationally comes with additional challenges. While it's exciting to push your company across borders and into Albania, you have to consider how you'll hire employees, set up your Albania payroll, and give out compensation and benefits. That's in addition to keeping your company running back at home.
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You have several factors to worry about every time you open a new location, but expanding internationally comes with additional challenges. While it’s exciting to push your company across borders and into Albania, you have to consider how you’ll hire employees, set up your Albania payroll, and give out compensation and benefits. That’s in addition to keeping your company running back at home.
Globalization Partners can help lift some of the burdens of an expansion. As a global PEO, we offer Albania payroll outsourcing services, so you won’t have to set up your own payroll. We can hire employees who work on your behalf and take on all worries about compliance to give you the time and peace of mind you need to run your company.
All employers must make social security and health insurance contributions at a rate of 16.7%. Employees also pay into social security at a rate of 11.2%. Albania uses a progressive income tax system, and employees owe more as their salary and compensation increases. Employees earning between 0-30,000 Albanian Lek (ALL) owe 0%, while employees making 150,000 or above owe 15,600 Lek plus 23% of the amount over 150,000.
Companies looking to start operations have four different Albania payroll options:
Before you can set up your payroll, you must establish a subsidiary in the country if you’re incorporating the traditional way. As a result, it can take weeks or months before you’re officially ready to work in the country and start hiring employees, adding them to your payroll, and making important business connections. On the other hand, Globalization Partners can help you start in a few days through Albania payroll outsourcing.
It will prove helpful to include entitlement and termination terms in every employment contract before setting up your Albania payroll. Employees in the country are considered on probation for their first three months of work and can get terminated with five days’ notice. After they work for the company longer, they’re entitled to longer notice periods and may get a severance payment.
If you’re exploring your Albania payroll options, contact Globalization Partners today to learn more about outsourcing with us.
If you’re ready to grow your business, or you have questions about a specific country, complete the form. One of our experts will be in touch shortly.
