Bradford Jacobs operate in the front line of international recruitment providers as a Professional Employer Organisation (PEO), producing customised solutions for companies planning global expansion either by launching overseas subsidiaries or locating staff in a new territory.
Greece is a prime target for globally innovative companies. This southern European nation’s history and culture has led to it being called the ‘cradle of civilisation’. Greece certainly lies at the crossroads of commercial and business opportunities. Located on the shores of the Mediterranean between the Aegean and Ionian Seas, Greece has strong trade links to Europe, North Africa, the Middle East and Asia.
Bradford Jacobs’ consultative approach creates one hundred per cent tailor-made solutions for every potential eventuality, because we know ‘off the peg’ remedies do not answer all the questions your company will need answered.
As PEO specialists in international recruitment we source the talent you need. Then, our Employer of Record (EOR) specialists in Greece enable clients to operate staff in-country with no worries over human resources, tax, payroll, employment legislation and registering employees with the relevant authorities –always staying up to speed with changes in laws and regulations.
As part of our service, we can administer the returns and associated payments for wage tax and social security contributions directly from our payroll system to the relevant authorities, relieving you of the following responsibilities:
- Registering with IKA, the largest social security fund in Greece, covering employees working in Greece, as well as Greeks based abroad for Greek companies
- Registering with the OAEE, the social insurance authority for self-employed workers, if applicable
- Registering with the Greek Tax Administrator to obtain a tax number, AFM. There are strictly-applied steps to comply with regulations and employers risk financial penalties if they fail to file returns on time. Employers face an initial fine of €2,500 for failure to register
- Creating contracts. Long-term indefinite contracts are most common in Greece, part-time contracts are less common. Fixed-term contracts cannot exceed 36 months
- Applying special tax status for expatriates, if applicable
- Establishing payroll, calculating salary payments, withholding tax, allowances and social insurance deductions
- Filing tax returns and the APD form for social insurance contributions. The Greek Tax Administrator applies fines for failure to file returns, which can double then quadruple for repeated infringements
- Producing annual accounts and year-end statements
The following step-by-step guide highlights how Bradford Jacobs can simplify creating the blueprint for your company’s expansion into the Greek market.
- Your company is ready to deploy an existing employee to Greece or recruit in-country through our international PEO recruitment network
- Once the candidate is selected, we step in as EOR through our legal Greek agency, guaranteeing compliance with employment contracts, payroll, human resources, tax and social insurance regulations under both Greek law and European Union directives
- Where necessary, Bradford Jacobs deal with obtaining visas and work permits
- The parent company has day-to-day operational control of their employee, while Bradford Jacobs manage all work-related registration formalities and our consultants ensure employees are aware of holidays, benefits and entitlement policies
- Employees send us completed time sheets and approved expenses claims and we invoice you, the employer. When paid, we deduct all contributions to the Greek tax and social insurance authorities and transfer the balance into the employee’s bank account
Within a few days your company has a fully operational international presence in a new market, perfectly placed to explore further expansion, without risking the expense, uncertainty or hassle of setting up your own subsidiary or branch office.
Using Greece Professional Employer Organisation (PEO) Provider Features and Benefits
Bradford Jacobs’ global Employer of Record (EOR) and Professional Employer Organisation (PEO) employment solutions enable employers to have a workforce operating legally, officially – and rapidly – in Greece. This is the efficient, fast and stress-free alternative to the time-consuming, hazardous and expensive exercise of establishing a legal entity in the country, whether as a subsidiary or branch.
You, the company, select the ideal employee from the candidates we source, then Bradford Jacobs handle the rest. Our services include:
- Specific support for all nationalities working for your company in Greece
- Ongoing business and human resources support from our local specialists
- Information and advice regarding any treaties on expatriate tax, double taxation, social security agreements and reclaimable expenses
- If employees use their own accountant, fees are covered to the limit of Bradford Jacobs’ accountancy fees
- Five million Euros cover for employer’s business liabilities
- Around the clock contact with Bradford Jacobs’ consultants ensures the employee can focus on their work
Greece PEO Features and Benefits for Employer
Rapid solution to onboarding employees for your international expansion into Greece
- We register with IKA, Greece’s social security fund, and with the Greek Tax Administrator to obtain a tax number, AFM
- Bradford Jacobs ensure the employer complies with contract registration laws. Whether the contract is fixed-term or long-term (indefinite) the employee must receive all contract details within two months of starting work or the employer faces fines.
- Full transparency gives complete control over operating budgets as all costs are detailed at the outset
- Time-efficient – minimal paperwork removes red tape involved in setting up a subsidiary or branch in Greece
- Expert guidance with employment and compliance issues
- Reduced accountancy and legal costs
- Bradford Jacobs’ services include all statutory professional insurances
Greece PEO Features and Benefits for the Employee
- Worry-free compliant local contract. These are governed by the Greek Civil Code and are usually either fixed-term or indefinite
- On-time and 100% accurate salary payment
- One-to-one professional human resources advice on employment-related questions
- Updates on tax and compliance regulations
Greece PEO Contract of Employment Benefits
- Employee receives comprehensive written employment contract as governed by Greece’s Civil Code and Law of Obligations. The contract can be in English, or language of choice, as there is no legal requirement for the contract to be in Greek, but it is best practice to do so. A translation into Greek will be necessary retrospectively in case of litigation. An offer letter and contract should always state salary and any benefit amounts in Euros
- Prior to contract offer, Bradford Jacobs provide breakdown of all clauses that must be included in the contract with an overview of all Greek protocols and provisions under the Law of Obligations
- Bradford Jacobs’ advisers will recommend to employers where provisions can be enhanced so they can offer a competitive salary and additional benefits, such as health insurance and housing allowances
- Salary, commission, bonuses and benefits are all contractually agreed with the employer
Greece PEO Human Resources (HR) Services
- On-call service to assist with routine HR concerns such as absence management and processing expenses
- Guidance with Greek compliance rules, such as any legal obligation to record hours worked and overtime provisions
- Prompt 24/7 support with disciplinary or grievance issues needing urgent response
- Regular updates and on-call advice to ensure ongoing compliance with changes in Greece’s employment laws
- Liaison with employees to ensure they are up-to-date with companies’ internal policies and handbooks
- Accident insurance as and if required by Greek law is provided as standard, covering occupational and commuting accidents and occupational illness
Greece PEO Payroll Services
- Fully-compliant international PEO and EOR funding process, ensuring employees and competent authorities are paid electronically on time into nominated bank account. Although it is not mandatory for employees to be paid into a Greek bank account, it is compulsory that tax and social insurance contributions are paid via a Greek bank account
- On-time paperwork for all statutory tax filing and social insurance submissions (form APD) and end-of-year reporting to avoid financial penalties from the Greek tax and social insurance authorities
- Liability payments made in accordance with Greek requirements to the respective competent authorities well in advance of deadlines
- Payments made to employees in Euros on fixed weekly/bi-weekly/monthly basis as required
- Compensation, benefits, termination and severance issues are also covered by Bradford Jacobs’ EOR and PEO services, if the employment relationship ends
Greece PEO Visas, Permits and Migration
Bradford Jacobs ensure the process of navigating through the procedure to obtain work permits or visas for migrating employees to Greece are handled as smoothly as possible.
Previously separate residence and work permits are now combined, meaning residence permits can include the right to work. Work permits are usually specific to the employer, occupation and location and valid for one year. Non-European Union and non-European Economic Area workers must first obtain a visa (National/Type D) to enter Greece and then apply for the residence/work permit.
Greece Hiring and Recruiting
Bradford Jacobs’ expertise as a Professional Employer Organisation (PEO) will source top-level staff to fill key roles for your expansion into Greece, either locally or from around the world. This is backed up by Employer of Record (EOR) outsourcing services to handle all aspects of staff administration and compliance with Greece’s employment, tax and registration laws. We provide the solutions to foreign expansion without companies risking the expense and uncertainty of establishing a subsidiary. Make no mistake – we are the best.