Employer of Record (EOR) Services in Iceland

Using our EOR services in Iceland allows you to access the opportunities of the Icelandic market within days while we take care of the paperwork for hiring your workforce compliantly.

Employer of Record (EOR)

With a mixed economy and a labour force renowned for its participation rate, Iceland offers interesting chances to grow your business.

Icelandic countryside with mountain
Icelandic countryside with mountain

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Hassle-Free Expansion

By using our EOR services in Iceland you have the freedom to explore these chances without the complexities of setting up an entity and the need to go through the complex paperwork.

The Icelandic economy relies heavily on tourism, but the export of fishing products and software has grown significantly too which makes the country a starting point for many international businesses. Apart from the European Union, Iceland also has advanced trading connections with the United States. Due to Iceland’s small, but resilient economy focused on service and trade, the country offers numerous opportunities that can benefit your business.

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Why Choose an EOR?

Our EOR services in Iceland offer our global entity network to companies considering expansion. We become your international employees’ Employer of Record, meaning that we take full responsibility for your employees’:

  • Labour contracts
  • Compliance with Icelandic laws
  • Tax contributions (if applicable)
  • Payroll

As an Employer Of Record, we conclude an agreement with you and the employee who will be working for your company. We become the legal employer of your new workforce. Your company maintains control over your employees’ working relationships, work ethics, tasks, and daily responsibilities.

The most significant benefit of using an EOR is probably that there is no necessity for you to set up an entity in Iceland. This process can take months, and during this period, it is unlikely that you will have legal resources to pay your employees in Iceland, resulting in a considerable delay in your global expansion plans.

Global expansion is an exciting step that often leads to a growing and successful business, but the red tape in a new country can be demotivating and frustrating. Imagine a way to expand your business without red tape globally and at low costs: that is what working with an EOR can do for you. By letting us take care of the hard part, you can focus on the significant part: expanding your business into Iceland.

These are the aspects we can take away from you:

  • Registering with the tax and social security office.
  • Immerse yourself in the local laws, customs, and regulations.
  • Get familiar with local labour benefits and other contract-related customs.
  • Approach potential employees and make them an offer.
  • Setting up the Payroll system compliantly.
  • Submitting wage tax returns and national insurance forms.
  • Staying up-to-date and compliant with changes in local regulations.

Benefits of Using EOR Services in Iceland

For Employers

As an employer, you are usually responsible for all legal aspects regarding your employees’ employment. In a new country, this process will probably take some more effort, but it does not have to. We have extensive experience with Icelandic payroll, taxes, and other local laws and regulations at Bradford Jacobs.

We can help you with the following:

  • A tailored solution that fits your company’s needs and plans.

  • Local experts inform you about all you want to know about the Icelandic market.

  • Providing EOR best practices on tax, treaties, expenses, and social security.
  • Fast-paces and efficient hiring.
  • Easy withdrawal from the market without worrying about labour contracts.

  • A hassle-free start of your Icelandic journey within days.

Benefits of PEO services for employers

Offering You
Expert Guidance

Benefits of PEO services for employees

Keeping Your
Employees Happy

For Employees

Employees are the central core of your business. They keep the engine running; therefore, creating a stable agreement that satisfies both employer and employee is essential. As a legal employer, the EOR is responsible for keeping employees happy with the work agreement. Due to our broad network and experts, we can offer employees great benefits and a reliable, compliant employment contract.

We will make sure they enjoy the following:

  • Rapid and transparent onboarding.

  • An employment contract compliant with Icelandic regulations.

  • A monthly agreed salary paid on time.
  • Excellent benefits such as pensions and insurance.
  • A regular point of contact.

  • Up-to-date information and consultation about changes in Icelandic regulations.

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