Suriname EOR & PEO

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Hire in Suriname

Suriname is the smallest country in South America by territory and also by population with just over 647,000 inhabitants. It is, however, a country rich in natural resources, with over 90% of its territory covered by forests and mining as its largest industry. The country’s complicated history of British plantations and Dutch colonies has created a truly diverse society that speaks mainly Dutch and English creole. Suriname’s GDP is just $4.34 billion, but it’s also on the rise and is expected to grow by 3% this year. Inflation in 2024 is 20.7% this year, and while that seems high, it’s actually declined dramatically since the pandemic and is set to continue dropping. Unemployment in Suriname is over 10% and that means there are plenty of workers looking for employment. If your company wants to hire some of them, working with a Suriname EOR may be your best option.

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hire employees in Suriname

What Is a Suriname EOR?

A Suriname employer of record (EOR) is a service provider working in Suriname. These providers work to find and manage workers for client companies from around the world who wish to hire Surinamese employees but don’t own entities in Suriname. With an EOR, they’re able to achieve this goal. An EOR can recruit, hire, and onboard workers for them and then manage their human resources (HR) needs long-term including payroll, benefits, and schedule management. It does this by signing contracts directly with workers and becoming their sole legal employer in Suriname.

A professional employment organization (PEO) is a similar type of service provider. Technically, a Suriname PEO isn’t able to hire employees directly like an EOR can. Instead, the client company needs to own a legal entity in Suriname and hire its own employees. However, the PEO can help to recruit, onboard, and manage these employees long-term as an HR outsourcing provider. In practice, the terms PEO and EOR may be used interchangeably, so it’s important to confirm what services the organization can actually provide.

Save Money And Time with A Suriname EOR

What Are the Benefits of a Suriname EOR?

Many firms want to hire Surinamese workers to work for them remotely. When they work with an EOR to help them do so, they can gain several competitive benefits that include:

Not needing an entity: The most useful benefit that an EOR can bring is that it allows foreign-based companies to hire workers without the need to own entities in Suriname. This is a major advantage because it means that you can save on the time, difficulty, and cost of setting up a legal entity, a process that can take weeks to accomplish.
Diversity: Suriname has an extremely diverse population. Its people are a mix of indigenous people and those of African, Asian, and European descent, plus influence from other parts of South America. Hiring people with different backgrounds can provide a company with insights and multiple perspectives which can create true value in an organization.
Fast recruitment and onboarding: Any company can try to hire Surinamese workers on its own. However, it will quickly find that because it doesn’t know this job market well, it will struggle to attract quality applicants and find top talent to fill its job openings. With an EOR, recruitment can be much faster and more efficient as its local staff know where to look to hire top talent quickly.
Language skills: Surinamese people largely speak Dutch (60%) and an English creole called Sranan Tongo. However, they also speak several other languages of Africa and Asia, Spanish, French, and English, because of the countries Suriname borders. These linguistic abilities can also add great value to any organization.
Affordability: Surinamese workers are very affordable. Salaries are low, and employer contributions are minimal. While you also need to pay a service fee to a Suriname EOR, this can still end up being much less than the cost of recruiting and employing workers from other regions.
Controlled compliance: An EOR in Suriname takes on the responsibility of hiring employees directly. Because of this, it also takes on the risk of non-compliance with labor laws, so your company doesn’t have to worry about learning all about Suriname’s complicated statutes. A Suriname EOR will necessarily be fully knowledgeable in the relevant labor and tax laws and have extensive experience in following them to the letter. This keeps conflicts to a minimum and lets them manage your employees equitably and fairly.

Horizons is Best IN Class

Why Choose Horizons?

Horizons stands out as a Suriname EOR through:

A strong presence in South America, meaning senior management are on the ground to deal with any issues.
Client-focused infrastructure. Horizons won’t oversell you on products and services you don’t need. Horizons offers the easiest platform to compliantly hire and pay people worldwide.
Cost-effective solutions. At $299 per employee, per month, no EOR in Suriname is more affordable. The cost is 100% transparent (onboarding, offboarding, deposit, no extra charges).
A customer-first culture. Horizons is an efficient bootstrapped company. It is not an externally-funded company burning investor cash to aggressively acquire new clients. Horizons is the only EOR that grows with its customer, reflecting the level of care and personal attention provided to each customer. Horizons will carefully advise on the best setup in each country: the type of contract needed, how to structure your benefits, and how to offboard a person while minimizing the risk of conflicts and extra cost
A long-term partnership. Horizons is the only EOR platform with a recruitment arm — a direct response to client demand. If any employee is leaving, or if our clients want to explore a new country, Horizons can recruit new candidates directly for the client. Horizons is:
- The only EOR doing this in-house — no subcontracting
- The only EOR doing this without a retainer — clients are only charged upon success
- The only EOR charging just a 2% fee per month.

Step-by-step Suriname EOR

How Does a Suriname EOR Work?

In Suriname, working with an EOR means your company has a link between it and the employees you wish to bring on board. Each part of this three-way relationship has its role to play as follows:

EOR

As the link between the client company and the employee, the EOR recruits a worker, often from its talent pool, and puts them forward as a candidate for the client’s job opening. If approved, it helps the parties negotiate terms and then sign a contract with the employee. This requires the employee to work for the client company while their payroll and other HR needs are seen to by the EOR. The EOR pays the employee’s salary and social contributions and continually ensures compliance with Suriname’s labor and tax laws.

Employee

The employee is a Surinamese worker who is open to working for a foreign firm. They typically answer a wanted ad or have their resume in an EOR’s talent pool. When recruited by the EOR, they’re able to negotiate their contract terms (compensation, benefits, hours, etc) directly with the client company. Once agreed, however, they sign a contract with the EOR. This makes the EOR their sole legal employer in Suriname and the party that pays their salary and benefits.

Client Company

The client company is a foreign-based enterprise desiring to hire workers in Suriname. As this company has no entity registered in the country, it may contract an EOR to hire employees on its behalf. The client company indicates to the EOR the job opening it has and the requirements and characteristics it’s looking for in an acceptable candidate. If it accepts the EOR’s candidate, it negotiates the contract terms with the candidate directly. It pays the EOR for the employee’s salary, social contributions, and other benefits regularly while also paying a service fee for the EOR’s management of its workers.

stay compliant with Suriname labor laws

Labor Laws

Suriname’s labor law is spread through its constitution as well as other significant legislation, including the Minimum Wage Act, General Pension Act, and Act Basic Health Insurance all adopted in 2014. When working with an EOR, the service provider is responsible for keeping in strict compliance with all relevant statutes. However, it’s also good for you to be familiar with some of the main points of labor law so you know what you’ll need to provide and expect from Surinamese workers.

Employment contract types

Contracts in Suriname can be fixed-term or permanent. They must be written in Dutch and state the role and responsibilities of the employee, their compensation and benefits, working hours, and termination details. Contracts must be submitted to the court registry to be legally approved.

Project-based

Fixed-term

Indefinite

Working hours in Suriname

Employees in Suriname typically work eight or eight and a half hours per day, five or six days a week. The maximum hours they can work in a regular work week is 48. Only security workers can work up to 12 hours a day. Workers are entitled to a 30-minute break after working five hours.

Overtime hours during the week and on normal working days are paid at an extra 50% premium above normal wages. On holidays and rest days, this premium increases to 100% in addition to regular wages. All work on Sundays is also paid at a 100% premium above regular wages, overtime or otherwise.

Overtime must be compensated in the following way:

Holiday Schedule in Suriname [2024]

The holiday calendar in Suriname has a mixture of national and religious holidays totaling 16 days per year. Some of these religious observances change annually with the lunar calendar. These public holidays are paid days, and any work performed on them must be compensated with other time off.

Date	Holiday name
1 Jan, 2024	New Year’s Day
10 Feb, 2024	Lunar New Year
25 Mar, 2024	Holi Phagwa
29 Mar, 2024	Good Friday
1 Apr, 2024	Easter Monday
10 Apr, 2024	Eid al-Fitr
1 May, 2024	Labor Day
16 Jun, 2024	Eid al-Adha
1 Jul, 2024	Freedom Day
9 Aug, 2024	Indigenous Peoples Day
10 Oct, 2024	Day of the Maroons
31 Oct, 2024	Diwali
25 Nov, 2024	Independence Day
25 Dec, 2024	Christmas Day
26 Dec, 2024	Boxing Day

Paid time off

The amount of paid time off employees are eligible to receive is based on how long they have been employed at their current company:

Sick leave in Suriname

Employees who have worked for at least four months are entitled to paid sick leave of up to six weeks. This leave is paid after the first two days of absence from work.

Less than 6 months of sick leave:

(percentage of regular wages owed to the employee)

Over 6 months of sick leave

In order for employees to receive the full wages due to them, workers must present a valid medical certificate from a certified doctor to their employer.

Maternity leave in Suriname

Expecting mothers in Suriname are entitled to 16 weeks of paid maternity leave. Fathers receive up to eight days of paternity leave.

Annual leave in Suriname

The Surinam Holiday Act of 1975 entitles any employee who works a full calendar year to 12 days of paid annual leave. For every full year worked after that, employees receive two extra days of annual leave up to a maximum of 18 days. However, more days may be granted by the employer.

Termination & severance in Suriname

Termination is governed by the Civil Code and Labor Act of 1963. According to these statutes, employers may dismiss workers due to employee incompetence, economic challenges, or mutual consent.

According to Suriname’s civil code, employers must give at least four weeks’ notice (and not more than six months) and four weeks’ severance pay to employees who’ve worked for them for up to four years. They must give one week’s wages for each year worked up to nine years, four months’ wages for working 10-15 years, and six months’ wages for employees with over 15 years of service.

Suriname's compulsory social security contributions

In Suriname, compulsory social security contributions are managed by the Social Security Bank (SOCIAL), which oversees contributions and benefits for employees. The Social Security Bank (SOCIAL) provides benefits such as pensions, disability benefits, sickness benefits, maternity benefits, and survivor benefits to eligible contributors.

Suriname social security for foreigners

Foreigners legally employed in Suriname are generally covered under the country’s social security system, contributing to and benefiting from the various social security benefits provided.

Foreign workers who contribute to the social security system in Suriname are entitled to the same benefits as Surinamese citizens. These benefits typically include pensions, disability benefits, sickness benefits, maternity benefits, and survivor benefits, depending on the contributions made and the specific circumstances.

Individual income tax

In Suriname, individual income tax is levied on the earnings of residents and non-residents who derive income from Surinamese sources. Individual income tax in Suriname follows a progressive tax structure, where higher income levels are taxed at higher rates.

Health insurance

Healthcare in Suriname involves a combination of public and private sector provisions, with varying levels of coverage and accessibility. While there isn’t a comprehensive national health insurance system, individuals and employers can opt for private health insurance plans to supplement healthcare costs not covered by public services. The Social Security Bank (SOCIAL) in Suriname provides certain medical benefits and allowances as part of its social security provisions.

hassle-free Surinamese compensation & benefits

Compensation & Benefits

Suriname compensation laws

The local currency, the Suriname Dollar (SRD), is currently worth around 0.032 USD. As of 1 April 2024, the minimum wage in Suriname has increased to 49.12 SRD/hour or roughly $1.57/hour. This corresponds to a monthly minimum salary of 8,507 SRD (about 270 USD). The average monthly salary is around 500 USD/month, and degree holders typically earn above 1000 USD/month. These rates are well below the global average.

13 month salary in Suriname

Suriname doesn’t have a mandatory 13th-month salary. However, some employers offer this pay as an annual bonus to improve their compensation packages.

Social security for Surinamese nationals

Surinamese workers pay 3.75% of their salary to old age, disability, and survivors insurance schemes if they’re under 60 years old. If over 60, they don’t pay these social security contributions. Employers contribute an additional 7.75% of the employee’s salary equivalent to these programs.

Suriname Employer Of Record Peo

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Hire in Suriname

What Is a Suriname EOR?

What Are the Benefits of a Suriname EOR?

Why Choose Horizons?

How Does a Suriname EOR Work?

Labor Laws

Employment contract types

Working hours in Suriname

Compensation & Benefits

Frequently asked questions

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Frequently asked questions

What are the advantages of using an Employer of Record in Suriname?

Above all else, an EOR in Suriname enables your foreign-based company to hire employees in this country without needing to own an entity. This saves you lots of time and money, enabling you to fill vacancies quickly. Even if you do own an entity, an EOR recruits employees quickly and manages their long-term needs by letting you outsource payroll, benefits, and schedule management functions to it.

How does an EOR in Suriname handle compliance with local labor laws?

A professional and successful EOR in Suriname will have full knowledge of local labor statutes. It will also have staff who have years of experience managing Surinamese employees and have seen and solved a multitude of issues with them. Their clients leverage this experience and are able to hire employees without needing to worry about fines or legal actions against them.

Suriname EOR & PEO

Start hiring in Suriname

Simple, compliant hiring with Horizons EOR & PEO

Hire in Suriname

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hire employees in Suriname

What Is a Suriname EOR?

Save Money And Time with A Suriname EOR

What Are the Benefits of a Suriname EOR?

Horizons is Best IN Class

Why Choose Horizons?

Step-by-step Suriname EOR

How Does a Suriname EOR Work?

EOR

Employee

Client Company

stay compliant with Suriname labor laws

Labor Laws

Employment contract types

Project-based

Probationary period

Termination

Severance

Fixed-term

Probationary period

Termination notice period

Severance

Indefinite

Probationary period

Termination notice period

Severance

Working hours in Suriname

Overtime must be compensated in the following way:

For a regular workday:

For a rest day:

For a statutory holiday:

Paid time off

Under 1 year of employment

1-10 years of employment

10-20 years of employment

20+ years of employment

Sick leave in Suriname

Less than 6 months of sick leave:

Under 1 year of employment

1-10 years of employment

10-20 years of employment

20+ years of employment

Over 6 months of sick leave

Under 1 year of employment

1-3 years of employment

3+ years of employment

Maternity leave in Suriname

Annual leave in Suriname

Termination & severance in Suriname

Suriname's compulsory social security contributions

Suriname social security for foreigners

Individual income tax

Health insurance

hassle-free Surinamese compensation & benefits

Compensation & Benefits

Suriname compensation laws

13 month salary in Suriname

Social security for Surinamese nationals

Hire in Suriname in 24h without your own local entity.

Frequently asked questions

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