Bahamas – Employer of RecordReading Time: 2 minutes
Globalization Partners provides employer of record services for clients that want to hire employees and run payroll without first establishing a branch office or subsidiary in the Bahamas. Your candidate is hired via Globalization Partners’ Bahamas PEO in accordance with local labor laws and can be onboarded in days instead of the months it typically takes. The individual is assigned to work on your team, working on your company’s behalf exactly as if he or she were your employee to fulfill your in-country requirements.
Table of Contents
- Basic Facts About Hiring in the Bahamas
- Public Holidays in the Bahamas
- Employment Contracts in the Bahamas
- Why Globalization Partners
Thus, our Global Employer of Record Platform™ and Global PEO service enables clients to run payroll in the Bahamas while HR services, tax, and compliance management matters are lifted from their shoulders onto ours. As a Global PEO expert, we manage employment contract best practices, statutory and market norm benefits, and employee expenses, as well as severance and termination if required. We also keep you apprised of changes to local employment laws in the Bahamas.
Your new employee is productive sooner, has a better hiring experience and is 100% dedicated to your team. You’ll have peace of mind knowing you have a team of dedicated employment experts assisting with every hire. Globalization Partners allows you to harness the talent of the brightest people in more than 170 countries around the world, quickly and painlessly.
Basic Facts About Hiring in the Bahamas
The Bahamas is located in the Caribbean and has a population of 377,374. The capital city of the Bahamas is Nassau which has a population of 274,374. International banking and investment management augment the economy, with more than 400 banking institutions from 36 countries.
When negotiating terms of an employment contract and offer letter with an employee in the Bahamas, it may be useful to keep the following in mind:
Public Holidays in the Bahamas
- New Year’s Day,
- Majority Rule Day
- Good Friday
- Easter Monday
- Whit Monday
- Randol Fawkes Labour Day
- Independence Day
- Emancipation Day
- National Heroes Day
- Christmas Day
- Boxing Day
Employment Contracts in the Bahamas
In the Bahamas, employment contracts can be oral or written, but it is best practice to put a strong, written contract in place, in English, which spells out the terms of the employee’s compensation, benefits, and termination requirements. An offer letter and employment contract in the Bahamas should always state the salary and any compensation amounts in Bahamian dollars rather than a foreign currency. The employment contract template is part of the service with Globalization Partners; no need to draft a separate template if you use our employer of record and PEO service in the Bahamas.
Why Globalization Partners
Establishing a branch office or subsidiary in the Bahamas to engage a small team is time-consuming, expensive and complex. Bahamian labor law has strong worker protections, requiring great attention to detail and an understanding of local best practices. Globalization Partners makes it painless and easy to expand into the Bahamas. We can help you hire your candidate of choice, handle HR matters and payroll, and ensure that you’re in compliance with local laws, without the burden of setting up a foreign branch office or subsidiary. Our Bahamas PEO and Global Employer of Record Platform provides you peace of mind so that you can focus on running your business.
If you would like to discuss how Globalization Partners can provide a seamless employee leasing or PEO solution for hiring employees in the Bahamas, please contact us.