It is a well-known fact that Colombia is a country with a strong economy and is considered to be one of the safest investments within Latin America. The nation gets more international fame among both local and international entrepreneurs because of its increasing economic growth, attractive business climate and range of commercial opportunities. Additionally, commercial activity and trade levels in Colombia have considerably increased thanks to a vast network of free trade agreements and its strategic geographic location, with access to both the Pacific and Atlantic Oceans. The overall economy of Colombia today benefits from various natural and agricultural resources, ranging from cattle and coffee to oil and emeralds, as well as an exploding tourism industry, which continues to grow year-on-year. These features make Colombia a great and thriving destination for international expansion and investment.
However, many business owners face challenges while trying to navigate the local labour laws of Colombia. One of the most challenging jobs is engaging and hiring local staff lawfully, which can be a huge headache for those without a comprehensive knowledge of the Colombia labour market and/or employment law. Working with a PEO provider in Colombia is a great method of expansion for companies who are new to market and have a limited understanding of employment law and regulationin Colombia. It is always important to consider the different methods that companies can engage and hire staff in a foreign country such as Colombia.
A Professional Employer Organization (PEO), also known as a ‘employer of record’ is a company that brings the required tools to support companies with their market entry. It allows companies tofind, engage andhire local employees with having a local company. Companies work with PEO service providers to engage in commercial activity without the hassle of forming and maintaining a local legal entity, which can often be expensive, time consuming and complicated.
Reasons to work with PEO Service Provider
The reasons to work with a PEO service provider will vary from one employer to another. PEOs can handle the various administrative and HR headaches of employing local staff. The PEO provider will ensure full legal compliance. Today, many SMEs are choosing to work with a local PEO provider given the range of benefits that come with this type of commercial relationship. Some PEO services include, but are not limited to the following:
- PEO solutionsfree up your valuable time and resources, allowing you toconcentrate on other important business tasks.
- Once a contract is successfully signed between a PEO and your business, it will distribute a segment of the legal responsibilities to the PEO, freeing you from unnecessary legal burden.
- The PEO has the responsibility of handling tax filing, payroll administration, provision of advantages,in addition to offering solutions relating to other HR functions.
- The only responsibility of your company is to continue with your daily business operations and to manage and direct the employees properly.
Things to know about staff selection
The labour market in Colombia is fully regulated, has a large and skilled worker pool and is dedicated to protecting the rights of employees. If you are an employer, you need to meet various legislative requirements according to Colombia law.In fact, compliance with the Colombian employment and lab our regulations is both time-consuming and costly, all the more reason to work with a qualified PEO provider in Colombia.
- Employment Contracts
The employment contracts in Colombia are classified into 4 types including short-term, fixed term, undefined length, and for a particular task. The duration and type of employment contract will vary from one employee to the next, affording you flexibility to best meet your needs.
- Foreign Workers
These individuals are subject to the same rules and regulations as Colombian workers. They must come with an official written employment contract from their employer and also have to have the appropriate working visa.
By law, the maximum number of hours an employee can work in Colombia is forty-eight hours (48) per week. This can be spread out between Monday to Friday or Monday to Saturday. Working hours can be flexible, but must be between 06:00 and 22:00 local time.
- Vacation Time
All local employees have the right to 15 days of paid holiday per year, half of which can be exchanged for pay with permission from the Ministry of Social Protection and Health.
- Minimum Wage
The minimum wage is negotiated yearly between the government and local trade unions. In 2018, the minimum monthly wage was COP $781,242 (approximately USD $260).
- Pensions and social security
The contribution is 15% of the monthly salary. Employers contribute three quarters of the payments and the employee covers the remaining quarter.
- Maternity and Paternity leave
All women are entitled to 12 weeks of maternity leave, which can be started 2 weeks before the birth of the child. The cost is covered by the Social Security System and can also be used in the case of adoption (for a child younger than seven years old). This also applies for a single father who adopts a child. It should be noted that it is illegal to fire a woman due to a pregnancy in Colombia.Fathers are afforded 4 days of paid leave if he is contributing to the Social Security System. If both parents are contributing to Social Security, then the father is entitled to 8 days of paid leave. In either case, the father must have contributed more than 100 weeks to Social Security System.
Employers are required to pay 12.5% of their staff’s salaries to a healthcare security fund.
For companies expanding to Colombia or looking to hire Colombian employees, working with a qualified PEO provider can be a great option. It helps mitigate much of the legal burden associated with employing foreign employees, and supports a more efficient route to market for a growing global company. It also frees up much of your valuable time allowing you to focus on what is important to you and your business.
Best Indian Destination to Visit
Goa- Best Indian Destination to Visit
Goa is a state in western India. It is known for its beaches, backwaters, Adventure water Sports, waterfalls, and temples. It is a popular tourist destination due to its laid-back atmosphere, cheap hotels, and world-class restaurants. Palolem Beach, Colva Beach, Agonda Beach, Dudhsagar Falls, Anjuna Market, Church of Our Lady of the Immaculate Conception, Braganza House, Mahadev Temple, Palácio do Deão, Mangeshi Temple, Fontainhas, Bhagwan Mahavir Wildlife Sanctuary, and Reis Magos Fort are famous destination in Goa. And Goa is also know for night life. Enjoy Night clubs, party here . So in Goa you can teste a different culture in Goa.
Delhi- Best Indian Destination to Visit
Delhi is the national capital of India and home to 1.17 billion people. It’s a city of contrasts where modernity coexists with ancient history. From the busy streets to the quiet temples, Delhi offers something for everyone. Red Fort, Jama Masjid, Qutub Minar, Lotus Temple, Aksherdham, Zoo, Old Fort, India Gate, Humayun Tomb are some of best Destination to visit. Apart form these You can visit:- Lajpat Nagar, sarojini Nagar, Janpath and Jama Masjid are the best Shopping Places in delhi. And in delhi you can find out best street foods menu in veg and non veg dishes.
Agra- Best Indian Destination to Visit
Agra is a major city of Uttar Pradesh, and a major tourist attraction is located in Agra call as “ The Taj Mahal”. You can Expericne the art of Mughal empire in agra. ALso this is one of the places to visit near delhi within 200 kms. Beyond Taj Mahal You Can Visit These Places That Are Near Or In Agra. These places are Agra Fort, Sikandra, Fatehpur Sikri, Dayal Bagh Temple, Bateshwar Temple, Chini Ka Rauza, Keetham Lake, Mathura, and vrindavan. Mathura and vrindavan are close to agra about 70 Kms far. These are Hindu holy places.
Jaipur- Best Indian Destination to Visit
Jaipur is the capital of the Indian state of Rajasthan. It alludes to the royal dynasty that once ruled the region and built the Old City, also known as the “Pink City” because of its distinctive building colour, in 1727. In the heart of a grand, colonnaded area lies the City Palace complex. Gardens, courtyards and museums still exist today as part of its royal house. Hawa Mahal, Jainivas Garden, City Palace, Amber Palace at Jantar Mantar, Samode, Light and Sound Show, Nahargarh Fort, Jaigarh Fort, Jal Mahal, Galtaji are some of the best places in Jaipur.
Kashmir- Best Indian Destination to Visit
Kashmir Valley is one of the top tourist destinations in India. Apart from its apple orchards, flower gardens and other attractions, Kashmir is famous for its natural beauty. With its distinctive handicrafts and famous Kashmiri shawls, it attracts tourists. The most popular tourist destinations in Jammu and Kashmir are Srinagar, Mughal Gardens, Gulmarg, Pahalgam, Patnitop and Jammu. Many Hindu pilgrims visit Vaishno Devi and Amarnath every year, which has a significant impact on the state’s economy.
Manali- Best Indian Destination to Visit
Manali is a city in Himachal Pradesh, India. It is one of the top ski resorts in India. It is famous for its beautiful surroundings, favorable climate and extensive cultural history. It is a popular travel destination in India and attracts visitors from all over the world.
Manali is a popular honeymoon destination as you can witness snowfall and gorgeous mountain views from late December to early January. This is the ideal time for skiing enthusiasts. Camping, hiking, mountain biking, ziplining, rappelling, paragliding, downhill cycling, jeep safaris, river crossings, angling, and many other activities are available.
Kerala- Best Indian Destination to Visit
The Indian state of Kerala is situated on the moist Malabar Coast. It is famous for its backwaters, network of canals and palm-fringed beaches. The Western Ghats are naturally occurring mountains that support a wide variety of plant life including tea, coffee and spice plantations. Wayanad and other sanctuaries as well as national parks like Eravikulam and Periyar are home to elephants, langur monkeys and tigers. Alleppey, Kochi, Thekkady, Munnar, Thrissur, Kovalam, Wayanad, Thiruvananthapuram, Kozhikode, Kannur are best destination to visit in Kerala.
Andaman and Nicobar- Best Indian Destination to Visit
The Andaman Islands are an Indian island chain in the Bay of Bengal. And Due to the increasing popularity of beaches and adventure sports like snorkeling and sea walking, tourism to the Andaman and Nicobar Islands is on the rise. Long Island, Havelock Island, Little Andaman Island, Diglipur, Parrot Island, Bharatpur Beach, Samudrika Marine Museum, Cellular Jail, Lamiya Bay Beach are some of the best spots to visit in Andaman and Nichobar. Indian tourists do not require a visa to visit the Andaman Islands, but if they wish to visit any tribal area, they require special authorization from the Deputy Commissioner at Port Blair. Foreign nationals require a permit. This clearance is given to foreign nationals coming by air on arrival at Port Blair. This can be a best Indian destination to visit.