Venezuela Employer of Record
Country Overview Video
Elements Global Services is the leading provider of Direct Employer of Record (EOR)/ Global PEO solutions. We partner with businesses who want to expand their global operations, onboard international talent, manage and comply with local regulations & pay employees – in over 160 countries around the world.
The Bolivarian Republic of Venezuela is a South American country with Spanish as its official language. Santiago Leon de Caracas – more commonly known as Caracas – is the nation’s capital and most populous city, as well as its center of industry and tourism. The country currently experiences hyperinflation at an estimated rate of over 2,000% and basic consumer goods shortages are common. Government revenues are highly dependent on oil exports, of which it has the world’s largest known reserves. An unstable political, economic and regulatory climate has led some multinationals to cease or reduce operations in the country.