Papaya Global and Spanish PEOs
There has never been a better time to launch a global expansion to than right now. And if you don’t have an entity in Spain, there is no easier way to pay your global workforce than through Papaya Global’s Spanish PEO. Papaya’s vetted local partner serves as the legal employer for your workforce and takes care the team’s administrative management – payroll, benefits, payments. You still manage the team in their everyday tasks.
As the legal employer, the professional employer organization (also known as an Employer of Record) holds the legal liability for your workforce, which significantly reduces the risk involved in opening a foreign subsidiary. You can test the market in Madrid or Barcelona, even if you don’t plan to keep a permanent establishment in the country.
Spanish EOR Costs
Since working with a PEO in Spain replaces the need to open an entity – at least until you decide to build a permanent presence – your costs are a straightforward as they come. You pay a set fee each month for each team member, and that’s it. It’s not related to the size of the salary or the seniority of the position.
With a precise, set fee, you know exactly what you’re spending every month. You can calculate the costs and benefits of adding people to the team and you can forecast your workforce spending accurately well in advance. Papaya’s pricing model makes your finance department as flexible as possible.
Advantages of Using a Spanish PEO
In addition to costs and flexibility, there are other major advantages to using a Spanish PEO. It’s the fastest way to build a workforce overseas. You can get your team onboarded and ready to go within weeks, and then add or remove people in no time. You can new products in new markets, or plan short-term engagements. Your time is in your hands.
Another advantage is the local knowledge the professional employee organization brings to the equation. You don’t need to be an expert on local compliance requirements or local customs. Papaya PEO can ensure your operation is always compliant and your workforce always feels at home. If you decide to open an entity, all your workforce data will transfer there.
Why Hire in Spain?
With major business hubs in Madrid and Barcelona, Spain boasts the fourth largest economy in the EU. At the same time, salaries are relatively low compared to other major European states. That makes Spain a prime location for a business expansion. It’s a gateway to the entire EU at a particularly employer-friendly price.
A Spanish EOR (Employer of Records) is the ideal starting point for any new expansion, or for hiring remote workers scattered across the country. Instead of waiting until the government processes a legal entity, hire and pay compliantly and take advantage of every business opportunity that comes your way.