Virgin Islands (UK) Employer of Record
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 British Virgin Islands are a British Overseas Territory in the Caribbean Sea comprised of about 16 inhabited islands and dozens of uninhabited islands. The U.S. dollar is the legal tender, and its economy is dependent mainly on tourism and the financial sector. The British Virgin Islands has a population of just over 30,000 people, and GDP per capita of approximately USD34,246, making it one of the most prosperous and stable economies in the Caribbean.
Employment Contracts
An employment contract can take several forms in the British Virgin Islands (BVI). An employment contract can be expressed, implied, written, oral, indefinite term or fixed-term contracts. However, the employer must give the employee a written statement when the employment contract exceeds four months. The statement must contain the following provisions:
- Name and address of the employer and employee
- Responsibilities and duties of the employee
- Hours of work and rest periods
- The employee’s pay and methods of computing, the occurrence of the payment
- The term of employment, if other than indefinite
- The period of probation if any
- The employee’s leave and vacation entitlement
Public Holidays
The following holidays are observed in the Virgin Islands (UK)
- New Year’s Day
- Hamilton Lavity Stoutt’s Birthday
- Commonwealth Day
- Good Friday
- Easter Monday
- Sovereign’s Birthday
- Whit Monday
- Territory Day
- Festival Monday
- Festival Tuesday
- Festival Wednesday
- St. Ursula’s Day
- Christmas Day
- Boxing Day
Compensation
There is no statutory bonus in the British Virgin Islands. However, employers may be required to pay employees a bonus under the terms of an individual employment contract or collective agreement.
Working Hours
The standard workweek is 40 hours, with eight-hour workdays over five days. Overtime is limited to at four hours a day. Employees are entitled to extra pay for working overtime. Pay generally is 150% of the employee’s regular wage.
Vacation Leave
Employees receive between 12 and 20 days of annual leave each year depending on how many years of service they have.
Sick Leave
Employees are entitled to a statutory 12 days of paid sick leave after four months of service. An employee must notify the employer on the first day of his or her absence and provide a medical certificate. Eligible employees receive social security benefits while on leave.
Maternity / Paternity Leave
Female employees are entitled to 13 weeks of paid maternity leave after 12 months of continuous employment. The leave can be taken at least six weeks after birth and can be extended up to three months in the event of a pregnancy-related illness. Eligible employees receive an allowance from social security while on maternity leave.
There is no paid statutory paternity leave, but male employees can take a month of unpaid leave.
Employment Termination / Severance
Employers can terminate an employment contract by providing notice to the employee. The notice period starts at pay interval and years of service and increases to two months depending on the employee’s length of service. However, no notice is required if the employee is being dismissed for misconduct.
Special rules apply to collective dismissals or if the employee is a member of a trade union.
Severance payment shall consist of three-quarters of one day’s pay or nine days’ pay per year, for each month of the employee period of employment. The pay rate is based on the employee’s basic wage.
Health Insurance Benefits
Private healthcare insurance is recommended.
We understand that local laws and regulations change and sourcing an accurate reference guide is not easy. Our data is researched and verified by our team of local international Employment Attorneys, HR and Benefit Professionals and Tax Accountants through our Expandopedia team and consultants, to ensure information up-to-date and accurate.
Partnering with Elements Global Services when expanding into the Virgin Islands (UK), can dramatically reduce the standard brick and mortar processes of doing business in foreign markets and allow you to focus on what you do best, growing your company! To discover more about how Elements can simplify your ability to expand globally, please feel free to contact us.
Other Solutions To Simplify Global Expansion:
- Value Add of EOR Services
- Administrative Services Outsourcing (ASO) Solutions
- Business Process Outsourcing (BPO) Solutions
- Entity Formation & Management Services
- Business Consulting Services