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Employer of record (EOR) or Professional Employer Organization (PEO)

What is Employer of record or formal local employer?

Employer of recrord (EOR) and Professional Employer Organization (PEO) is a package of a list of support services for businesses, such as:

administration of employees and employment contracts,
management of remuneration and benefits,
HR operational functions.

What makes Bulgaria interesting for EOR / PEO?

Bulgaria is a preferred destination for outsourcing, outstaffing and outsourced EOR services for several reasons:

Highly qualified and mobile human resources.
Favorable business environment and tax system.
Our country offers a significantly lower cost of living compared to Western and Central European countries. This makes us an attractive location for businesses looking for optimization and new space to outsource teams, functions and administer HR processes.
The Bulgarian government supports these services in the country and has introduced tax and investment incentives to encourage new companies starting operations in Bulgaria.
The country also has a well-developed infrastructure and transport network, an excellent telecommunications system and reliable electricity supply, low energy prices. This makes it a preferred location for businesses outsourcing and optimizing their operations.

What does the EOR Service include?

New Carrier operates as official employer for the business employees, taking and outsourcing the hiring, administration, compensation and management of employees on behalf of the client business. That assures the companies with the necessary initial research, rapid hiring in a new market, and accountability in the complex specifics of local labor and insurance laws and regulations.

The service can also be extended by providing an office, workplaces, equipment, cars, secondment, etc.

See more information about EOR HERE