Equatorial Guinea Payroll
Equatorial Guinea is an African country with a small population of just over 1 million. It borders Gabon and Cameroon, giving companies located in Equatorial Guinea the opportunity to connect with other nearby nations.
Equatorial Guinea is an African country with a small population of just over 1 million. It borders Gabon and Cameroon, giving companies located in Equatorial Guinea the opportunity to connect with other...
Read MoreEquatorial Guinea is an African country with a small population of just over 1 million. It borders Gabon and Cameroon, giving companies located in Equatorial Guinea the opportunity to connect with other nearby nations.
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Equatorial Guinea is an African country with a small population of just over 1 million. It borders Gabon and Cameroon, giving companies located in Equatorial Guinea the opportunity to connect with other nearby nations.
If your company is considering opening a location in Equatorial Guinea, you need to discuss several important factors, including payroll. You can set up your Equatorial Guinea payroll as one of several options, but you’ll need to learn the country’s tax laws, compliance regulations, and more if you choose not to outsource. Opting for Equatorial Guinea payroll outsourcing with Globalization Partners will ensure you stay compliant and help you pay employees faster.
When you decide on an Equatorial Guinea payroll option, you have to make sure both you and your employees are paying the right amount for taxes. For example, employers pay 21.5% of employees’ salaries to the National Institute of Social Security. Employees only contribute 4.5% of their earnings. You also need to make a 1% contribution to the Work Protection Fund (WPF) and make sure employees pay 0.5%.
Every company requires something different from their payroll, which is why you can choose from four Equatorial Guinea payroll options:
When you set up your Equatorial Guinea payroll, you must have a registered entity in the country unless you’re expanding through a global PEO. Incorporating in Equatorial Guinea may seem simple, but it can take months or even a year to start working in the country. When you choose Globalization Partners, you can start working in a few days. We’ll handle your payroll, hiring process, compensation, and benefits. We’ll also take on the risk for you.
Before starting payroll, you should look at important entitlement and termination terms and add them to your employment contracts. In Equatorial Guinea, you must give employees at least one week of notice if they’ve worked a month or more and at least one month’s notice if they’ve worked six months or more.
Globalization Partners has an entire team of experts ready to help you expand without any additional hassles or stress. Contact us today to learn about Equatorial Guinea payroll outsourcing.
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.