Hire your remote team in Bangladesh

Only 399 EUR per employee per month

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Hiring a remote team in a country as Bangladesh 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 Bangladesh. We take care of global payroll, taxes, benefits, compliance and HR activities. So you can focus on growing your business.

A remote team

1. Hire a remote team in Bangladesh with Rivermate

Payroll, benefits, taxes, and compliance can be difficult to manage in Bangladesh, particularly if you don't have established local relationships. You can hire employees in Bangladesh 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.

2. Introduction

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

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

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 Bangladesh or individually hire remote employees in Bangladesh, 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 Bangladesh services can best help your company!

3. Hire a remote team in Bangladesh

Bangladesh has a growing market economy, with agriculture employing over half of the population. Along with agriculture, the manufacturing and industrial sectors provide a variety of employment possibilities to the country's working-age population.

The nation was significantly impacted by the worldwide pandemic in 2020, which reduced overall growth and left a larger portion of the people jobless and at danger. Despite all of the uncertainty, Bangladesh's economy is slowly improving. Still, the pandemic's shadow looms over the whole economy. Dhaka and Chittagong are Bangladesh's two main cities, as well as the country's financial hubs.

4. Cost of living in Bangladesh

The cost of living in a nation may be affected by a variety of factors that have a significant impact on the ultimate cost. Factors such as the city you live in, the predominant industry in that region, your living standards, taxation policies, state income, and much more. We've put up a table that will give you an idea of how much it costs to live in Bangladesh.

1. The estimated cost of renting in Bangladesh is between USD 125 and USD 300.

2. The estimated cost for food and beverages is between USD 70 and USD 150.

3. The estimated transportation cost is between USD 30 and USD 50.

4. The estimated miscellaneous cost is between USD 30 nad USD 45.

5. Cost of renting in Bangladesh

Rent in Bangladesh is much cheaper than in other developed or developing countries such as China and India. Though it is strongly influenced by the city you live in and your style of life. Nonetheless, the average cost of renting in Bangladesh is between $125 and $300, which is much cheaper than in other nations.

The cost of living in Bangladesh is heavily influenced by where you live. If you opt to reside in established cities like as Dhaka and Chittagong, the average cost will be substantially more than in other rising cities with lower rates.

6. Major industries in Bangladesh

The ready-garment sector is a significant element of Bangladesh's economy, providing many work opportunities, particularly for women. Aside from the ready-made clothing business, another area dominated by women is the leather industry, particularly footwear.

The shipbuilding industry is another important business that contributes significantly to a country's GDP. It is a developing sector with significant potential that has been likened to industrialized nations such as South Korea and China.

Along with shipbuilding, the shipbreaking sector is also important. Bangladesh's ship breaking business employs approximately 200,000 Bangladeshis and is the world's biggest ship breaking industry.

Bangladesh's travel and tourism business creates a large number of employment possibilities, which have a direct influence on the Bangladesh economy and the country's overall GDP.

Bangladesh has over 160 million people and a large number of internet users; as a result, Bangladesh's information and technology industry employs thousands of skilled laborers each year who work and earn a livelihood.

On all mobiles, computers, and other devices, the average download speed in Bangladesh is 12.48 Mbps, while the average upload speed is 7.98 Mbps.

Bangladesh's economy slowed as a result of the epidemic. Nonetheless, the government is taking necessary efforts to provide job possibilities and implement rules that encourage flexible working hours.

7. Hiring cost in Bangladesh

When onboarding a candidate, it is critical to keep the cost of recruiting in mind. A city's average hiring cost is governed by variables such as the cost of living and total spending in the city. The following are a few critical factors that have a significant impact on hiring costs:

- Onboarding costs

- Training

- The overall cost emerged from interviews to onboarding

- Opportunity costs

8. Employment laws Bangladesh

Bangladesh has a sizable labor population, with 60 million people employed in agriculture and 30 million employed in non-agricultural employment. The government of Bangladesh has developed the following employment rules for its employees.

- No company may hire a worker without a letter of appointment and a picture ID.

- Employees' Rights and Labor Law of Bangladesh state that an employee's daily working hours shall not exceed 8 hours, with a 1-hour break in between for rest or supper.

- Wages must be paid before the applicable wage period expires.

- All salaries and wages will be paid only on working days.

- Unless there is an emergency, the casual leave will be eligible if requested in advance.

- In the event of casual leave, a maximum of 10 days is permitted every year.

- If an employee is found guilty of bribery or fraud, he or she may be fired without notice.

- The legislation permits women to take maternity leave for eight weeks before and eight weeks after giving birth.

9. Top skills Bangladesh

Bangladesh has a lively work market with lots of job possibilities and individuals looking for them. The top in-demand jobs in Austria are in the following areas:

- Data analysis

- Programming

- Customer service

- Construction

- IT skills

- Digital marketing

- Leadership

- Communication

- Problem-solving

- Time management

- Networking

- Work ethics

10. Economic landscape in Bangladesh

Bangladesh has one of the fastest growing economies in the world. The economy has showed some good indicators in the last decade, with exceptional success in poverty reduction and robust ready-made garment exports. Though Covid-19 had a significant influence on the broader economy, including an increase in poverty and a negative impact on health, the proper policies and prompt response made things better in the first quarter of 2021. ‍

11. Market size in Bangladesh

Bangladesh's market size is large enough to provide employment for everyone of the working-age population. Bangladesh's working-age population has tremendous market potential in businesses such as agriculture, manufacturing, fisheries, and exports. Though the market declined in 2020 because to the Covid-19 epidemic, it recovered in early 2021.

12. Minimum wage in Bangladesh

After a year of service, employees in Bangladesh receive a festival bonus. The bonus is paid twice a year and must be at least equal to the base salary.

In 2018, Bangladesh's national minimum wage was 1,500 Bangladeshi Taka (17.75 USD). This was increased to 8000 BDT (94.68 USD) per month in 2019 and to 8100 BDT (95.87 USD) per month in 2020. The minimum wage, on the other hand, may vary by sector. For instance, factory workers in Bangladesh earn a monthly minimum wage of $68. Although Bangladesh's compensation laws do not require employers to provide additional bonuses, employers frequently provide housing assistance, education subsidies, and transportation allowances in addition to a base salary.

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

Establishing an entity in Bangladesh to hire a team takes time, money, and effort. The labor law in Bangladesh has strong worker employment protection, requiring great attention to details and a thorough awareness of local best practices. Rivermate makes expanding into Bangladesh 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 Bangladesh 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 Bangladesh via our Employer of Record (EOR) / PEO solution.

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