Facts & Stats
- Capital city
United States Dollar ($, USD)
- Population size
- Ease of doing business
- Cost of living index
- Payroll frequency
- VAT - standard rate
- GDP - real growth rate
Grow your team in Micronesia with Remote
You can pay contractors now in Micronesia with Remote in some currencies (talk to an expert now for full details).
Note that we are busy building our own entity in Micronesia to provide you with the best possible employment solutions for your employees, but our employer of record service is not yet live in this country.
To employ in Micronesia, companies must own a local legal entity in the country or work with a global employment solution. Developing the processes required to manage payroll, benefits, taxes, and onboarding in countries like Micronesia can get complicated fast, especially without localized expertise.
If you're looking to start hiring in a country like this, partnering with a global employment solution like Remote makes it easy for your company to employ workers quickly, cost-effectively, and in full compliance with all local legislation.
In the countries where we do offer our EOR services, Remote takes on the responsibility and legal risks of international employment so you can focus on hiring great talent and growing your business.
Risks of misclassification
Micronesia, like many other countries, treats self-employed individuals or contractors and full-time employees differently. Misclassification of contractors in Micronesia may lead to fines and penalties for the offending company.
Competitive benefits package in Micronesia
At Remote, we’re obsessed with helping you craft the best possible employee experience for your team. We are leading the way in practicing “fair equity”, which means making sure employees everywhere have access to both the required and supplemental benefits they need to thrive (and that will allow you to attract the best local talent).
We are still busy building our own entity in Micronesia, but our benefits packages for all countries are tailored to fulfill the local needs of your employees. Typically, our packages contain some or all of the following benefits:
Mental Health Support
Pension or 401(K)
Life and Disability Insurance