Hire your remote team in Armenia

Name: Hire a remote team in Armenia
Brand: Rivermate
SKU: armenia
Price: 499 EUR
Availability: InStock
Rating: 4.4 (5 reviews)

Only 499 EUR per employee per month

We currently do not offer any services in this country.
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Hiring a remote team in a country as Armenia comes with a lot of overhead, such as compliance, local laws, taxes, etc. As a company, you don't want to worry about knowing all the local laws. Instead you want to focus on your remote team and the business. Rivermate's Employer of Record (EOR) solution helps companies hire remote employees in Armenia. We take care of global payroll, taxes, benefits, compliance and HR activities. So you can focus on growing your business.

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1. Hire a remote team in Armenia with Rivermate

Payroll, benefits, taxes, and compliance can be difficult to manage in Armenia, particularly if you don't have established local relationships. You can hire employees in Armenia effectively, conveniently, and in full compliance with all relevant labor laws using Rivermate's global Employer of Record (EOR) solution. We handle the responsibilities and legal risks associated with foreign employment so you can concentrate on growing your company.

Table of contents

Hire a remote team with Rivermate
Introduction
Hiring a remote team in your country
Cost of living
Cost of renting
Major industries
Hiring cost
Employment laws
Top skills
Economic landscape
Market size
Minimum wage
Why choose Rivermate?

2. Introduction

Rivermate is a global employment solutions company that provides Employer of Record services in Armenia.

As an employer of record, we help you hire employees and run payroll services in Armenia, allowing you to avoid the necessity of first establishing a branch office or subsidiary in Armenia.

It is not necessary to establish an entity in order to hire an employee. We can hire your employee in any country with a few mouse clicks. Using our Employer of Record solution, you can have full compliance, benefits, and automated payments.

If you wish to hire a remote team in Armenia or individually hire remote employees in Armenia, Rivermate’s global employer of record services will make sure that the process will be as seamless as possible for you.

Send us a message so we can talk about how Rivermate’s Employer of Record Armenia services can best help your company!

3. Hire a remote team in Armenia

Armenia, or the Republic of Armenia, is a unitary and democratic country. The Armenian labor market has opened up for many opportunists, educators, professors, and professionals in recent years due to the country's exceptional GDP development. Armenia has a long history that has had a significant influence on its economy and organizational structure. Armenia's unemployment rate is a problem for the nation. Armenia is attempting to lower its 15.8 percent unemployment rate.

4. Cost of living in Armenia

The number of foreign nationals looking for work in Armenia has increased. This is due to the country's favorable earnings-to-cost-of-living ratio. In Armenia, you can afford a healthy lifestyle with average-paying work.

1. The estimated cost allotted for utilities in Armenia is US $76.58 (37,095.03 AMD).

2. The estimated cost allotted for rental payment varies depending on the number of rooms in the apartment or unit. For an apartment with a single room, the estimated cost is US $306.66 (148,552.48 AMD). For an apartment with 2 to 3 rooms, the estimated cost is US $588.33 (284,996.41 AMD).

3. The estimated expenses for transportation in Armenia is US $12.39 (6,000 AMD).

4. The estimated expenses for Food and Beverage in Armenia is US $144.98 (70,227.84 AMD).

5. Cost of renting in Armenia

Rent in Armenia is comparable to the rest of the region. The cost of renting in Armenia is neither too high nor too cheap. However, a recent spike in the cost of renting has been seen as the demand for living facilities soared during the global lockdown caused by COVID-19.

The cost of living in Armenia depends on the location. The cost is highest in tier 1 cities such as Yerevan, Gyumri, Vanadzor, etc. The cost is medium in tier 2 cities such as Vagharshapat, Hrazdan, Abovyan, etc. The cost is lowest in tier 3 cities such as Vedi, Yeghvard, Vardenis, etc.

1. The estimated cost of living in Yerevan is 231,178.06 AMD (USD $477.23).

2. The estimated cost of living in Gyumri is 230,536 AMD (USD 475.91).

3. The estimated cost of living in Vanadzor is 195,736 AMD (USD 404.27).

4. The estimated cost of living in Vagharshapat is 190,568 AMD (USD 393.40).

6. Major industries in Armenia

The top sectors where employers will want to hire remote employees from Armenia are the following:

1. Engineering

2. Information Technology

3. Sales

4. Finance and Accounts

5. Public General Hospitals

6. Transportation and Delivery Services

7. Real Estate

8. Insurance

9. Mining

10. Manufacturing

7. Hiring cost in Armenia

Before even advertising for the position, the company determines the cost of recruiting. This fee includes all essential parts of the recruiting process. Some of the factors addressed by the recruiting cost are as follows:

1. The cost of onboarding

2. The expense of training

3. Investment of time

4. Lending of personnel

8. Employment laws Armenia

Armenia has well-established labor regulations that protect both businesses and workers. Regulations are in place to protect anybody from infringing on anyone else's rights. These employment laws include the following elements:

1. Minimum wages

2. Employers' and employees' rights

3. Termination of the labour contract

4. Meal and rest breaks

5. Overtime

In Armenia, the rules and regulations that govern employment relationships are founded on the following principles:

1. The Constitution

2. Labour Code

3. Civil Code

4. Law on Employment

5. Law on Trade Unions

9. Top skills Armenia

Armenia is a profoundly changing nation. It is involved in a variety of industries. As a result, the skill set necessary for employment in Armenia is broad. Armenia places a premium on soft talents such as critical thinking, originality, and creativity. It also necessitates personnel with extensive experience in programming, technical design, system analysis, and complicated issue resolution.

The highest-valued skills and areas in Armenia are the following:

1. Healthcare

2. Transport

3. Mining

4. Information Technology

10. Economic landscape in Armenia

Because of the epidemic, Armenia's GDP fell by 5.7 percent in 2020. According to the most recent data, Armenia's PPP GDP is $32.893 billion USD (15,993.89 billion AMD). Its nominal GDP is $13.444 billion USD (6,537.01 billion AMD). Armenia has a per capita income of US $10,995 according to PPP GDP. However, according to the nominal GDP, Armenia's per capita income is (5,346,208.80 AMD) US $4,527. (2,201,208.48 AMD).

11. Market size in Armenia

Armenia's primary revenue-generating industries are the industrial and mining sectors. Mineral extraction and industry outputs contribute significantly to the national GDP. Armenia has signed trade agreements with a few sister countries in order to get energy and raw resources in return for manufactured products, machine tools, and textiles. So far, these alliances have served Armenia well. In addition to exports, the country's significant agriculture industry meets its food needs.

12. Minimum wage in Armenia

Employees are entitled to a minimum monthly wage that excludes bonuses, additional payments, and incentives. Divide the monthly salary by the total number of hours worked to arrive at the minimum hourly rate.

Those who work in hazardous environments earn a premium over their average salary. Bonuses are prevalent.

Currently, the minimum hourly wage is 406 Drams (1 USD) and the monthly minimum wage is 68,000 Drams (140.24).

13.Why choose Rivermate to hire your remote team in Armenia?

Establishing an entity in Armenia to hire a team takes time, money, and effort. The labor law in Armenia has strong worker employment protection, requiring great attention to details and a thorough awareness of local best practices. Rivermate makes expanding into Armenia simple and effortless. We can assist you with hiring your preferred talent, managing HR and payroll, and ensuring compliance with local legislation without the hassle of establishing a foreign branch office or subsidiary. Our PEO and Global Employer of Record (EOR) solutions in Armenia give you peace of mind so you can focus on running your business. Please contact us if you'd like to learn more about how Rivermate can help you hire employees in Armenia via our Employer of Record (EOR) / PEO solution.