
By
Tomás Battaglia
February 4, 2025
Updated
February 4, 2025
Employment trends and job market analysis
Suriname is the smallest country in South America, located on the continent's northeastern coast. Despite its compact size of approximately 163,800 square kilometers, Suriname is rich in natural resources and boasts a diverse cultural heritage influenced by its Indigenous, African, Indian, Javanese, and European populations. The official language is Dutch, but English, Sranan Tongo, and several other languages are widely spoken, reflecting its multicultural society.
Suriname's economy is driven by sectors such as mining (bauxite, gold, and oil), agriculture, and forestry, with a growing interest in tourism and sustainable development. As of 2020, Suriname had a Gross Domestic Product (GDP) of approximately USD $3.8 billion and is classified as an upper-middle-income country by the World Bank. With a small but skilled workforce, Suriname offers unique opportunities for businesses looking to tap into its natural wealth and cultural vibrancy.
Capital | Paramaribo |
Languages spoken | Dutch, English, Sranan Tongo and more |
Population size | 625, 000 |
Payroll frequency | Monthly |
Currency | Surinamese dollar (SRD) |
VAT | 10% on standard VAT, 25% on luxury goods |
Payroll and taxes
Employers in Suriname have a range of tax responsibilities essential for maintaining compliance with local laws. These obligations include withholding income taxes, contributing to social security programs, and managing corporate taxes.
Employer contributions
Health insurance
Suriname employers must provide health insurance coverage for their employees as part of the country's social security framework. This ensures that workers have access to essential medical services and contributes to the overall well-being of the workforce. This health insurance typically includes: doctor consultations, hospital care and coverage of prescribed medications.
Employers must contribute 4.65% of the employee's annual gross salary towards the Basic Health Insurance (BZV) program. This contribution is part of the employer’s social security responsibilities and is deducted and reported monthly.
Old-age insurance
The Old-Age Insurance (AOV) system in Suriname is a mandatory government program designed to provide financial support to individuals upon retirement age. It's eligible for employees who reach the retirement age of 60. Employers are obliged to contribute 10.5% of their employees' gross salary.
Work accident insurance (RAT)
RAT is the Risco Ambiental do Trabalho, which corresponds to a tax that varies from 1% to 3% of the total amount received by the employee each month according to the risk taken by workers at their jobs. Most tech companies have a fixed rate of 2% on this tax.
Parental leave facilities fund (FVO)
FVO was established to manage the payment of wages during maternity and paternity leaves. As of April 1, 2023, employers and employees are each required to contribute 0.5% of the employee's gross salary to the Parental leave facilities fund (FVO), totaling a 1% contribution. Employers must register their employees with the FVO and remit these contributions monthly.
Employee contributions
Employees in Suriname also have crucial tax responsibilities to comply with local laws. These include contributing to social security programs by deducting their salaries and paying income taxes based on their earnings.
Personal income tax
Personal income tax in Suriname has progressive rates according to how much the employee makes in a calendar year. It applies to earnings from employment, business activities and other sources, with rates depending on income level.
Tax rates
Check out the individual tax rates on the sheet below:
Monthly tax basis (SRD) |
Rate |
---|---|
Up to 2,646 |
Nil |
From 2,646 to 14,002 |
8% |
From 14,002 to 21,919 |
18% |
From 21,919 to 32,839 |
28% |
Over 32,839 |
38% |
Income tax withholding
For employees, income tax is typically deducted at the source by their employer. This is pre-levied from salaries and remitted to the tax authorities monthly. Employers are responsible for calculating and withholding the correct amount based on the employee's income. That way, employees don't have to worry about depositing the correct amounts or being noncompliant with the law.
Minimum wage
The minimum wage in Suriname is currently SRD 20.52 per hour (approximately USD $0.54 per hour), based on an eight-hour workday. This equates to an average monthly wage of around USD $100–$110, depending on the exchange rate.
The rate is subject to periodic adjustments by the government to reflect inflation and economic conditions. In recent years, Suriname has experienced significant currency fluctuations, influencing wage dynamics and living costs. Projections for future increases in the minimum wage will likely consider these economic trends and the need to support workers' purchasing power.
Labour laws and employee rights
Global companies expanding into Suriname face the additional challenge of understanding and complying with laws that may differ significantly from those in their home countries. Ensuring compliance with Surinamese labour laws is essential to avoid potential legal and financial repercussions.
In Suriname, labour laws are primarily governed by the Civil Code and other specific regulations that outline employer obligations and employee rights. In addition to statutory requirements, some industries may have collective bargaining agreements that impose further employer obligations. Non-compliance can result in fines, penalties, or costly legal disputes.
What Airswift can do for you in Suriname
With over 20 years of experience in Latin America, Airswift has the local expertise and market knowledge to help businesses remain compliant anywhere. We operate across multiple LATAM countries and have a dedicated office in Suriname, located in Paramaribo. Our team of 200+ LATAM-based professionals ensures that companies receive the support they need, from employment contracts and payroll management to tax compliance and employee rights guidance.
By partnering with Airswift, businesses can navigate complex labour laws with confidence, mitigate risks, and streamline their hiring process.
Work permits and visas
We help your company secure work permits and visas quickly and easily. We are familiar with these processes and know how to navigate the bureaucracy in Suriname's immigration policies. We will handle the work authorization processes and ensure a smooth transition for your employees.
Payroll and tax compliance
We manage your payroll, tax withholdings, and social security contributions. To set up an entity, your company will need to research local regulations. By partnering with Airswift, your company can ensure accurate salary processing and tax compliance, eliminating administrative burdens for your team.
Attracting and retaining top talent
We know that finding the best talent is always a challenge, particularly in niche industries. Airswift's recruitment network and deep understanding of the local job market can make a difference and help you secure the right talent in a quick and easy fashion.
Working hours
Suriname's Labour Act of 1963 (Arbeidswet 1963) regulates maximum working hours in the country, establishing a standard work week of up to 8.5 hours per day and 48 hours per week. There are a couple of exceptions whose primary function is security, but other than that, almost everyone falls into the 48-hour-a-week category.
The Minister of Labour can grant additional exceptions for specific employee categories, businesses, or industries. However, the Act does not provide detailed guidelines on these extended working hours.
Overtime
Overtime in Suriname is defined as any work exceeding the standard hours set by the Labor Act. Employers must obtain a permit from the Labour Inspectorate before requiring employees to work overtime. This permit is issued only if a valid business justification is provided.
Overtime compensation
The minimum additional compensation for overtime depends on when the work is performed:
- Weekdays: employees must receive at least 50% above their regular pay rate.
- Sundays and public holidays: overtime requires a 100% increase in the regular pay rate, applying to both the holiday and the preceding weekday.
Employers may need to provide higher rates if stipulated by collective bargaining agreements in specific industries or sectors. These agreements often set more generous terms for overtime compensation.
Source: Canva
Employee benefits
In Suriname, benefits are divided into two categories: mandatory and optional. As the name suggests, the mandatory ones are those that companies are obliged to provide and the optional varies.
Mandatory benefits
Vacation and leaves
Employees in Suriname who complete a full calendar year with the same employer are entitled to 12 vacation days. This number increases by two additional days per year over the next three years, reaching a minimum of 18 days after four years of service.
For employees in their first year who work less than a full calendar year, the leave is calculated per day for each full month of service.
Suriname also observes several public holidays throughout the year, during which employees are entitled to paid time off. The list of public and religious holidays is later in this guide.
Source: Canva
Social security
Social security in Suriname provides a safety net for employees and their families, covering pensions, healthcare, and other essential benefits.
The system is designed to ensure financial security and access to services, especially for the elderly, the disabled, and survivors of deceased contributors. The most common are National Pension Scheme, Survivor and Disability benefits, and Old-Age Pensions.
Insurances
Workers ' insurance coverage is designed to provide financial and medical protection for illness, workplace accidents, or other life events.
Employers are generally required to ensure their employees have access to certain types of insurance, either through statutory requirements or additional benefits. The most common are Health Insurance, Accident Insurance, Work-Related Insurance and Unemployment Insurance.
Types of leave available
There are a few types of leave available in Suriname, and they differ.
Annual leave
Employees are entitled to at least 12 vacation days during their first year of service. After the first year, two additional days are added for each year of service, up to three years. From the fourth year onward, the entitlement increases to a minimum of 18 days.
Sick leave
Employees can take paid sick leave with appropriate medical certification. The duration and terms of paid leave often depend on the employee's length of service and company-specific policies, which are in line with provisions in the Civil Code of Suriname.
Maternity leave
Female employees are entitled to 16 weeks (approximately 112 days) of paid maternity leave. This is generally provided under the Labour Law, although specific references may vary.
Paternity leave
Fathers are entitled to a limited number of paid paternity leave days. Similar to maternity leave, this entitlement is generally governed by the Labour Law, though exact details may be less defined.
Bereavement leave
Employees are typically allowed a brief leave period to attend the funerals of immediate family members, with the specifics varying by company policy.
Special leave
Depending on their internal policies, certain employers may grant leave for religious observances or personal matters.
Note that specific leave entitlements are often detailed in employee contracts or handbooks. Depending on the sector, additional provisions may apply under collective bargaining agreements.
Public holidays
Here is Suriname's national holidays list:
- New Year's Day - January 1
- Revolution Day - February 25
- Labour Day - May 1
- Emancipation Day (Keti Koti) - July 1
- Indigenous people Day - August 9
- Maroon Day - October 10
- Independence Day - November 25
- Christmas Day - 25 December
- Boxing Day - 26 December
There are also some religious holidays the date varies because of the Hindu or Christian calendar.
- Holi Phagwa
- Id-ul-Fitr
- Diwali
- Good Friday and Easter Sunday
Attracting talent
To successfully attract top talent in Suriname, companies need to go beyond competitive salaries, great benefits and work-life balance. These things are great, but creating a compelling employer brand, focusing on community engagement, and leveraging Suriname’s multilingual and diverse workforce can make your business stand out even more.
Employer branding
A strong employer brand is essential to attract skilled professionals. Highlighting your company’s values, mission, and unique work environment helps candidates see your organisation as an ideal workplace.
Showcasing success stories, employee testimonials, and corporate social responsibility achievements can further enhance your reputation and appeal to prospective hires. How your company looks to potential employees is crucial!
Community engagement
Suriname's close-knit communities value local engagement highly. Companies that actively contribute to local development through initiatives like environmental sustainability, education programs, or community outreach can build a positive reputation.
Being seen as a business that supports the community strengthens your connection with local talent is a true differential in Suriname.
Multilingual opportunities
Suriname’s workforce is highly diverse, with many professionals fluent in multiple languages such as Dutch, English, and Sranan Tongo.
Emphasising roles that allow employees to leverage their linguistic skills, as well as offering language training or international collaboration opportunities, can attract candidates who value multicultural workplaces and global exposure. This will also make your employee's CVs stronger, which can benefit your reputation as a company in the long run.
Source: Canva
Hiring best practices for attracting employees
Understanding the country’s employment practices and cultural nuances is essential when starting the staff hiring process in Suriname.
Employers must prioritise fairness and avoid bias or discrimination throughout all stages of recruitment. Suriname’s labour laws emphasise equality, and any form of discrimination based on gender, ethnicity, religion, or age is strictly prohibited. Employers should carefully review job descriptions and interview practices to ensure they are inclusive and culturally sensitive.
While Dutch is the official language, Suriname is a linguistically diverse country. English is spoken by a substantial number of people, especially the younger population.The other language that is widely spoken is the Sranan Tongo.
Here are some factors that will help your company hire the best in Suriname:
Understand local talent needs
Identifying the key industries and skill sets in demand, such as those in mining, agriculture, and energy, ensures your job postings resonate with the local workforce and attract suitable candidates.
Offer competitive compensation and benefits
Employers should provide salary packages that meet or exceed local standards, while highlighting benefits like health insurance, pension contributions, and paid leave to stand out as an employer of choice.
Focus on career development
Providing training opportunities, mentorship programs, and clear advancement pathways demonstrates a commitment to employee growth and long-term success.
Foster inclusive work environments
Employers should celebrate cultural diversity, encourage open communication, and create a workplace where employees of all backgrounds feel valued and supported.
The onboarding process for employees
While Suriname does not have specific laws governing employee onboarding, it is highly recommended to establish clear expectations from the beginning. Providing new hires with a structured introduction, including their responsibilities, working hours, internal policies, and the company’s code of conduct, can set the tone for a positive and productive employment relationship.
It's essential to note that non-compliance with Suriname’s labour laws, even during the onboarding process, can expose employers to legal risks and potential disputes. A thorough and compliant onboarding process helps mitigate these risks and fosters a strong foundation for long-term employee success.
Termination of employment
The termination process in Suriname is governed primarily by the Civil Code, alongside individual contracts and collective bargaining agreements.
There are three types of termination:
- With notice: Either the employer or employee may terminate the contract by providing written notice.
- Without notice: Allowed only for urgent causes, such as gross misconduct. Employers must provide a clear, justifiable reason for this type of dismissal.
- By mutual agreement: Both parties can agree to end the employment relationship, typically formalised through a settlement agreement.
The termination with notice has somes steps to be taken by the parts:
- Written notice: The initiating party must issue a written notice specifying the termination date.
- Notice period work: Unless specified otherwise, employees are expected to work during the notice period, while employers must pay wages and benefits as usual.
- Final settlement: Upon termination, employees must receive payment for outstanding wages and any unused vacation days.
The exact requirements for termination may vary based on the nature of the contract, collective bargaining agreements, or sector-specific regulations.
What are my options for hiring?
If you’re looking to expand your business into Suriname and hire locally, Airswift is here to assist!
We ensure compliance with local government regulations, including hiring practices, labour laws, tax requirements, permits, working conditions, and more.
Our expertise helps safeguard your business from unnecessary risks, allowing you to focus on your company’s priorities, opportunities, and global growth while we handle the complexities of local employment.
Talent acquisition
Airswift can help your company attract top talent in Suriname. With expertise across various industries, we specialise in finding the perfect candidates even under tight deadlines.
We are dedicated to sourcing talent that fits your needs seamlessly. Whether you're building a remote workforce or hiring on-site staff, rely on us to accelerate your hiring process and support talent retention, ensuring your business thrives.
Employer of record
If your company is looking to hire employees in Suriname without establishing a local entity, Airswift can simplify the process for you!
As an Employer of Record in Suriname. we can help you quickly onboard contractors and employees. We handle everything from permits and employee onboarding to tax compliance, benefits administration and much more, allowing you to focus on growing your business.
*Although the information provided has been produced from sources believed to be reliable, no warranty, express or implied, is made regarding the accuracy, adequacy, completeness, legality or reliability of any information. For the latest information and specific queries regarding particular cases, please contact our team.