The Romanian economy is projected to grow by 6% in 2021 and 4.6% in 2022 (OECD), led mainly by investment and pent-up demand. Consumption will increase as the vaccination rollout continues and restrictions on activities are eased; international trade remains strong with imports outpacing exports due to domestic consumption needs being more important than overseas markets’ demands for Romania’s goods. Unemployment rates should decrease gradually thanks to improvements like increased growth, which could lead them back down below their pre-crisis level of 5%. According to provisional data reported by Eurostat, Romania is the champion in the EU, having the highest economic growth in Q1 2021, followed by Cyprus, Hungary and Lithuania. In 2020, Romania was ranking #55 in the World Bank’s Ease of Doing Business index (Sources: OECD, Energy Industry Review, and EC).
A trusted professional employment organization with in-depth knowledge of the Romanian market, XML International provides you with end-to-end personalised solutions to recruit and manage remote team members for your activities in Bucharest or any other city in Romania, regardless of the size of your organisation or your industry.
Employees will be employed pursuant to local labour laws, and all required social security and taxation will be paid to the local Authorities.
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Minimum wage depends on the type of work/industry.
Working hours in Cyprus are 8 hours a day, and 40 hours a week.
Annual leave will depend on the type and industry. For workers who have already worked for 48 weeks and working 5 days per week, the minimum annual leave is 20 working days. For workers who work 6 days per week, the minimum annual leave is 24 working days.
Sick leave and pay are not subjected to rules.
Maternity allowance is paid to natural mothers for a period of 18 weeks starting between the ninth and second weeks before the week of the expected birth. During maternity leave the employee receives 72% of their salary and it’s paid by the government. Maternity leave is extended to 22 weeks in case of twins, and 26 weeks when there are at least 3 births.
Under the condition that the couple is married, paternity leave is paid to natural fathers for a period of 2 consecutive weeks between the week of confinement and the following 16 weeks or between the week of confinement and the termination of maternity leave for the case of multiple births.
Article 9 of the Termination of Employment Law 24/1967, which applies to all dismissals, provides for a minimum period of written notice for employee(s) to be dismissed on the basis of the length of service:
Probation period in Cyprus will depend on the employment agreement.
The standard VAT rate is 19%.
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XML International, one of the best workforce solutions and employer of record services providers for Romania, supports the set-up and the management of your international workforce for all your activities in Romania. Our invaluable input consists of streamlining and handling for you the complete employment lifecycle of your teams in Romania. We give you all the keys to handle you staff in Nicosia or any city in Romania. XML’s knowledge of Romanian labour laws, tax and social security system, and employment regulations allows you to tackle the challenges of local compliance in Romania, navigate all the local complexities and avoid pitfalls.
Among our top priorities, compliance with the Romanian employment regulations and labour laws is number one. In addition to talent acquisition, recruitment services, and workforce management, we also ensure that our clients’ workforce management in Romania is aligned with the Romanian tax and social security rules and the latest immigration processes, including visas and work permits.
Here is the list of our core services supporting your activities in Romania.
Take advantage of the targeted outsourcing solutions proposed by XML International for your expansion into Romania or for your employees already based there. We offer a comprehensive series of bespoke and scalable outsourcing solutions specially designed for the Romanian market.
They range from professional employer organization employment (PEO), employer of record, and contingent workforce employment services, to help you grow effortlessly and successfully in Romania without any complications. We can also help you source, recruit, and onboard new team members locally, even if you don’t have an office in Romania.
XML provides you with everything you need to start doing business in Romania or to optimize your business if you are already operating there, leading to significant bottom-line savings and getting your business activities up and running in just days. Get in touch with the XML team to learn how we can boost your activities in Romania in a cost-effective way.
Get started now and make the most of business in Romania today!
XML has expertise and resources to meet your organization’s workforce needs wherever, and in whichever field these might be.