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How To Hire New Remote Employees | Equatorial Guinea

Hire employees in

Equatorial Guinea

, easily

Whether you're looking for an independent contractor, a remote team member, or a full-time employee in

Equatorial Guinea

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Equatorial Guinea

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capital city
Equatorial Guinea
currency
Central African Franc (FCFA)
language spoken
Spanish/ French/ Portuguese
payroll frequency
Monthly
employer taxes
22.5 %
vat - standard rate
15%
cost of living index
Low ($1182)
gdp - real growth rate
Per Capital: $ 7,143.24
termination process
Difficult
employee protections
Moderate
capital city
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Overview

Equatorial Guinea has a population of 1.477 million and is ranked number 31 in Africa according to the nominal GDP ($ 12.53 billion). Equatorial Guinea is one of the fastest-growing economies in Africa after the discovery of natural gas and petroleum. More so, it is transitioning from a  planned economy to a mixed market economy.

Public Holidays

1 January- New Year's Day

15 April- Good Friday

2 May- Labour Day

6 June- President's Day

16 June- Corpus Christi

3 August- Freedom Day

15 August- Constitution Day

12 October- Independence Day

8 December- Feast of the Immaculate Conception

26 December- Christmas Day

Minimum wage

The minimum wage in Equatorial Guinea is 129,035 Francs per month.

Payroll cycle

Payroll is done on a regular basis, and providing employees with online payslips is appropriate in Equatorial Guinea.

Taxation

Employees in Equatorial Guinea pay income taxes according to their incomes as follows;

0-1,000,000: 0%

1,000,000-3,000,000: 10%

3,000,000-5,000,000: 15%

5,000,000-10,000,000: 20%

10,000,000-15,000,000: 25%

15,000,000-20,000,000: 30%

20,000,000-and above: 35%

Additionally, employers contribute 1% of the gross salary to the work protection fund and 21.5% to social security. On the other hand, employees contribute 0,5% of the net salary to the work protection fund and 4.5% to social security.

Leaves

Parental Leave

All-female employees are granted 12 weeks of maternity leave, split halfway between before and after birth. There is, however, no statutory paternity leave for male employees in Equatorial Guinea.

Termination process

In Equatorial Guinea, employees are entitled to severance pay of 45 days’ salary after completing their contract for every year they work. This is equivalent to 3.75 days a month. Notably, a notice is required depending on the reason for termination, and the employer is expected to give valid reasons for the termination. 

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