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How to hire remote employees in
So you want to hire in the British Virgin Islands. That’s great. But you should know, from the start, that hiring in the British Virgin Islands is different than hiring in your home country. There are different labor laws, different regulations, and different systems for hiring people. If you don’t do things right, you’ll be putting your company at the risk of fines—and risk losing the talent you brought onboard.
If you want to successfully hire in
Virgin Islands (UK)
, you have two options:
Laws about hiring contractors are significantly more simple in
Virgin Islands (UK)
. Onboarding talent takes days, not weeks or months. Both you, the company, and your talent have more flexibility. And in many cases, since you’re remote, the talent you’re hiring is better classified as a contractor, anyway. Of course, it’s not possible in every case, but it’s what we built Thera for.
This is the long route. You can either establish a physical presence with an entity and register as an employer, or you can use an Employer-of-Record (EOR) solution. Odds are, you’ll find using an EOR to be the easier route. Still, using an EOR in
Virgin Islands (UK)
is expensive—it can often be $500 per month per employee—and sometimes prone to lengthy onboarding times.
Hiring contractors is normally the easier, faster, more flexible choice—but don’t just take it from us. Below are the specific benefits and drawbacks to hiring contractors in
Virgin Islands (UK)
.
Hiring employees takes months, at the minimum. When you hire with Thera's locally-generated contracts, it’s a matter of days or weeks. This means you can hire the best talent, fast, without losing them to a hellish procession of paperwork.
It costs just $0 to sign up for Thera, then $25 per month to hire your contractors with Thera. If you hired employees manually (or did contracting on your own), you’d likely be on the hook for thousands of dollars each month. Setting up an entity alone can cost tens of thousands of dollars.
Hiring contractors in
Virgin Islands (UK)
means you’re generally not on the hook for things like health insurance and paid time off. This makes hiring flexible for you, and it gives your talent more options.
Hiring employees is a bigger commitment, and can open you up to increased liabilities and regulations. When you hire contractors overseas, your biggest risk is misclassification—but laws surrounding contractor classification are often significantly more straightforward.
The contractor life isn’t for everyone—some people want the security that being an employee often appears to provide. Though it’s rare, this does happen, and it’s one disadvantage of manage an all-contractor team.
Most countries’ contractor-employer relationship laws stipulate that the employer can’t set fixed working hours, among other things. These laws give contractors more freedom over how and when they do their work than an employee would have. In reality, however, most contractors are willing & able to work on the company’s schedule—it’s a matter of setting expectations beforehand.
If you’re hiring contractors in
Virgin Islands (UK)
, you can pay them with Thera in a single click. You won’t need to worry about complicated wire transfers, fees, or currency conversions. We’ll take care of it all. Just make a click and your contractor will get paid in their currency of choice. This is a valuable bonus for talent in countries where the local currency is particularly weak—most people appreciate the ability to receive their payment in stronger currencies.
If you’ve read up until this point, you’ll know that it’s easier, cheaper, and more flexible to hire contractors in the British Virgin Islands than employees. Still, there are valid reasons why you might want to hire employees instead. The content below is for you—we’ll cover employer taxes and obligations in the British Virgin Islands.
Twenty-six days annual leave with pay each calendar year exclusive of Sundays and holidays; Provided, that the part unused in any year shall be accumulated for succeeding years until it totals not exceeding 60 days.
Any employee who has accumulated an unused annual leave at the end of the calendar year in excess of the days allowed by subsection (1), shall be entitled for retirement purposes only to “service credit for forfeited annual leave”.
There are 13 public holidays.
Cumulative sick leave, with pay, at the rate of 1¼ days per month; Provided:
In Virgin Islands (UK) the 66.7% of the insured’s average weekly covered earnings in the 39 weeks before the expected date of childbirth is paid for up to 13 weeks, beginning no earlier than six weeks before the expected date of childbirth.
Private sector employees are not entitled to receive paternity leave.
There is no paid statutory paternity leave, but male employees can take a month of unpaid leave.
In the British Virgin Islands there is no other statutory leave.
None.
There are currently no UK laws obliging employers to grant leave entitlement for death in the family, however many businesses do.
Most allow three to five days for bereavement leave but this depends on what your contract or staff handbook states or your employer's discretion.
The termination process varies according to the employment agreement and collective agreement in place and based on the type of contract and reason for termination.
In the British Virgin Islands, the notice period is 15 days, and all official notice must be provided in writing.
In accordance with the British Virgin Islands Labor Code, Severance pay is paid at the rate of one week’s regular salary rate for each year the employee has worked for the company.
The employee also receives vacation payment which is 30 days for every 11 consecutive months worked, together with an element from any applicable 13th-month payments.
In The British Virgin Islands, probationary periods of 4 months are common but can be extended up to 6 months for more senior employees.
The standard workweek is 40 hours, 8 hours per day for five days.
Overtime hours more than 40 hours a week are paid at the rate of 150.00% of the employees' regular pay rate.
Employee works on a public holiday must be paid a basic hourly rate of at least one and one-half times his or her basic wage for each hour worked in addition to the basic wage of the employee.
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