With a mixed economy and a labour force renowned for its participation rate, Iceland offers interesting chances to grow your business. 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.
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 and are responsible for taxes, labour laws, and other local regulations that might be unfamiliar to you.
Your company maintains control over the working relationship, work ethics, tasks, and daily responsibilities of your employee.
The EOR is the legal employer of your new workforce. Our agency in Iceland will legally hire your selected employees while you are responsible for day-to-day activities. At Bradford Jacobs, we currently operate in over a hundred countries where we use local networks of experts. This allows us to gain expert knowledge of local laws and regulations and recruitment customs and trends. By partnering with us as an EOR, your company will also have access to this specialist knowledge.
Our contract with your employee is 100% compliant with Icelandic labour laws and includes benefits such as insurance and pensions. We can hire, onboard, and manage your new employees in Iceland within days.
Here is what we can do for you:
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:
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:
Employees are the central core of your business. They keep the engine running; therefore, it is also essential to create a stable agreement that satisfies both employer and employee. 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:
Working with contractors on a project- or temporary basis can provide an excellent solution during your global expansion. At Bradford Jacobs, we have access to a vast pool of international contractors and can find you the perfect fit for your project or expansion. Since it is not allowed for a contractor to work full-time for you solely, we can always set up an EOR when necessary, providing you with a swift solution for your international workforce.
Feel free to share your plans and dreams with us so that we can find the perfect solution and provide a compliant working agreement that suits everyone.