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If you are interested in hiring a remote team in Cabo Verde, or even just individual remote employees in Cabo Verde, then you have come to the right place!
Rivermate is an Employer of Record (EOR) that offers Cabo Verde payroll solutions. As a Cabo Verde payroll provider, we will cover everything from salary, benefits, employer-to-employee contributions, and especially payroll compliance in Cabo Verde. We are confident Rivermate’s payroll solutions Cabo Verde will help you grow as a business—because now, you won’t have to worry about your payroll solutions Cabo Verde. We take care of everything payroll!
With Rivermate, you can run Cabo Verde payroll services in just one click—regardless of currency, benefits, insurance, and your local labor laws. Everything is automated. Our priority is for you to focus on your company’s strategy and growth.
Our Rivermate Global Payroll services are made especially for startups and scaleups. We know that startups try to be extra prudent when it comes to choosing a payroll provider, so it is our mission at Rivermate to be your most reliable and cheapest payroll provider option. So if you’re looking for global payroll providers for small businesses, look no further and book a call with us now!
Once you've determined the best Cabo Verde payroll option for your company, you'll need to collect some information from employees in order to add them to your payroll. Begin by acquiring their personal identification number, tax deduction card, and emergency contact information. When an employee begins working and provides you with their tax deduction card, they become a part of the social security system and are eligible for benefits.
The tax laws of Cape Verde apply to both corporations and employees. Resident businesses must pay a 22% corporate income tax. Micro- and small-sized businesses must also pay a 4% special tax (SST). Personal income taxes are levied at a progressive rate that ranges from 16.5 to 27.5% depending on an employee's earnings.
Companies that wish to expand their operations globally have four different payroll options in Cabo Verde. These payroll options are:
1. Internal Payroll. This payroll option is applicable for already established companies in Cabo Verde. It includes devoting an entire Human Resources staff to running the company's payroll procedures.
2. Remote Payroll. Smaller firms may lack the capacity to handle their own payroll, but they may add their workers to the parent company's payroll. This action, on the other hand, requires considerable thinking. You must guarantee that you follow the rules and laws of each nation.
Working with a local outsourcing firm is one method to retain money in the local economy, but you'll still need to study all of the local rules and regulations, since you'll be held responsible.
3. Cabo Verde payroll outsourcing: Outsourcing your payroll to an Employer of Record in Cabo Verde, such as Rivermate, is another alternative for Andorra payroll outsourcing. We can manage all aspects of your payroll, including compliance. Send us a note and we'll get back to you as soon as possible!
It is the obligation of the employer to ensure that all payroll-related transactions are properly documented and recorded. All salaries and compensation payments must adhere to the local minimum wage as well as other applicable laws and regulations.
Rivermate's payroll services in Cabo Verde can assist you in staying in compliance with the country's ever-changing payroll rules. We provide an all-inclusive solution that covers everything from compliance and reporting to salary payments.)
Companies that have a business presence in Cabo Verde have different ways of managing payroll. However, most of the options you have for running payroll in Cabo Verde are either expensive or require establishing a subsidiary in Cabo Verde. The cheapest, most efficient, and most reliable payroll processing system in Cabo Verde is by outsourcing payroll to Employers of Record (EOR) in Cabo Verde. Rivermate is one of those Employers of Record.
At Rivermate, we offer you the most efficient, most compliant, and cheapest HR and Payroll Management services in Cabo Verde. We do this by taking care of your payroll-related needs, such as keeping track of your employees’ financial records, including incentives, gross and net salary, and payslips, all the while staying compliant with the labor laws in Cabo Verde. Because we do your online payroll management for you, you can have absolute focus on your business’ strategy and growth.
Rivermate is all about growth through collaboration and we achieve this by offering the most reliable yet cheapest services for managing payroll for small businesses in Cabo Verde.
Employers may terminate an employment contract for cause, at the end of the contract term (if the contract is for a defined duration), by the employee, or by mutual consent between the employer and employee. Employers must have a legitimate basis for terminating an employee, which may include employee misbehavior or economic and market considerations.
Cabo Verde's Prime Minister announced an increase in the minimum wage to CVE 15,000 per month in early 2020. This regulatory amendment took effect in 2021.
Employers should compensate employees in the local currency unless otherwise agreed. If internal regulations or collective bargaining agreements (CBAs) establish a different method of compensation, it must be equal to or greater than the minimum wage requirements. When both currency and goods or services are used to compensate, non-cash compensation cannot be more valuable than cash compensation.
In Cape Verde, the standard work week is 44 hours and is limited to eight hours per day. Employees are entitled to 24 hours of rest per week, which are typically Sundays but can be any day.
Upper management positions and certain highly qualified employees are exempt from the eight-hour daily limit. These employees, however, are entitled to premium pay ranging from 20% to 35% of the standard wage.
Employees between the ages of 16 and 18 work a minimum of 38 hours per week and a maximum of seven hours per day. Overtime is permitted only in the event of a force majeure and is limited to two hours per day or 30 hours per year. Workers under the age of 18 are not permitted to work between the hours of 8 p.m. and 7 a.m. unless their professional training requires it and is authorized by Cape Verde's Labor Department.
From 10 p.m. to 6 a.m., night work is performed. Employees who work nights earn an additional 25% of their base salary. Workers may be entitled to this higher rate of pay for night work even after transitioning to daytime work in some instances. Overtime hours worked at night are limited to seven per week.
Employers are not required to provide private health insurance when providing health coverage through the National Social Insurance Institute.
Cabo Verde's labor regulations do not specify required bonuses or additional benefits for employees. Employers may provide more through collective bargaining agreements or internal regulations.