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Hire a remote team in Bosnia and Herzegovina

Hiring a remote team in a country as Bosnia and Herzegovina 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 Bosnia and Herzegovina. 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 Bosnia and Herzegovina with Rivermate

Payroll, benefits, taxes, and compliance can be difficult to manage in Bosnia and Herzegovina, particularly if you don't have established local relationships. You can hire employees in Bosnia and Herzegovina 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
  1. Hire a remote team with Rivermate
  2. Introduction
  3. Hiring a remote team in your country
  4. Cost of living
  5. Cost of renting
  6. Major industries
  7. Hiring cost
  8. Employment laws
  9. Top skills
  10. Economic landscape
  11. Market size
  12. Minimum wage

2. Introduction

Rivermate is a global employment solutions company that provides Employer of Record services in Bosnia and Herzegovina.As an employer of record, we help you hire employees and run payroll services in Bosnia and Herzegovina, allowing you to avoid the necessity of first establishing a branch office or subsidiary in Bosnia and Herzegovina.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 Bosnia and Herzegovina or individually hire remote employees in Bosnia and Herzegovina, 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 Bosnia and Herzegovina services can best help your company!

3. Hire a remote team in Bosnia and Herzegovina

Bosnia and Herzegovina, sometimes known as Bosnia, is a sovereign European state. This country has a long history. The Mediterranean climate makes it an appealing place to reside. Bosnia and Herzegovina has a staggering 18.3% unemployment rate. This is owing to the country's political instability. However, if you are considering working in Bosnia and Herzegovina, you will appreciate everything that the nation has to offer.

4. Cost of living in Bosnia and Herzegovina

Bosnia and Herzegovina's cost of living is $546, which is 1.71 times less costly than the global average. Bosnia and Herzegovina was placed 160th out of 197 nations in terms of cost of living, and the 86th greatest place to live.In Bosnia and Herzegovina, the average wage after taxes is $565, which is enough to meet living costs for one month.

5. Cost of renting in Bosnia and Herzegovina

In comparison to other European nations, the cost of renting in Bosnia and Herzegovina is relatively inexpensive. A one-room flat in the city center may readily be rented for US $200.

6. Major industries in Bosnia and Herzegovina

Bosnia and Herzegovina's tourist business has done successfully during the last decade. However, when the epidemic spread over the country, this enterprise came to a standstill. The damage done during this period is enormous, and it will take Bosnia and Herzegovina years to recover.Bosnia and Herzegovina's telecommunications industry is entirely liberalized. In the nation, there are three major landline service providers. Almost everywhere in the nation, the internet is well-established. The internet is now used by 86.77% of Bosnia and Herzegovina's entire population.

7. Hiring cost in Bosnia and Herzegovina

The cost of recruiting is carefully calculated as an essential investment in the company's future. Before assigning cash to the recruiting cost, all aspects are considered. The following are some of the considerations considered:- Orientation- Time investment- Personnel required- Interview process

8. Employment laws Bosnia and Herzegovina

Bosnia and Herzegovina has well-defined labor and employment regulations. When formulating employment legislation, the following factors are taken into account:- Nature of work- Working hours- Salary and bonuses- Holiday entitlement- Period of noticeThe following organizations guarantee that employment regulations are obeyed and that no violations occur:- Employment contracts- Employment Law of the Federation of Bosnia and Herzegovina- Official Gazette of FBiH, no. 26/16 and 89/1

9. Top skills Bosnia and Herzegovina

Bosnia and Herzegovina is an inventive country. It has excellent textile manufacturing enterprises. You need have commercial and managerial abilities if you want to work in Bosnia and Herzegovina. Agriculture is the principal profession and plays an important role.The top in-demand jobs in Bosnia and Herzegovina are in the following areas:- Agriculture- Manufacturing- Technology- Textile- Military

10. Economic landscape in Bosnia and Herzegovina

Bosnia and Herzegovina's economy is heavily influenced by its history. Bosnia and Herzegovina's nominal GDP is $21.953 billion USD (36.37 billion BAM). This results in a per capita income of US $6,727. (11,146.20 BAM). Bosnia and Herzegovina's PPP GDP is much higher than its nominal GDP. Bosnia and Herzegovina's PPP GDP is $51.996 billion (86.15 billion BAM), and the per capita income is $15,935 USD (26,403.26 BAM).

11. Market size in Bosnia and Herzegovina

Bosnia and Herzegovina's market is dominated by agriculture and tourism. The World Tourism Organization predicts significant development in Bosnia and Herzegovina's tourism industry in the future years.

12. Minimum wage in Bosnia and Herzegovina

Bosnia and Herzegovina's minimum wage was last increased in 2020 to 520 convertible marks per month. According to Bosnia and Herzegovina compensation laws, employees must be paid at least that amount. While bonuses are not required, they are common and frequently paid at the end of the year.