Payroll Services

Business

 

Our Payroll & Business Support Services

 

We provide comprehensive payroll and business registration services to assist companies in establishing and operating effectively in Cyprus. 

Our expertise guarantees compliance, efficiency, and precision from the initial company setup to payroll management and tax filings.

 

1️. Business & Company Registration

We support businesses through the official registration process with the relevant authorities, ensuring a seamless and legally compliant setup. Our services include:

•  Obtaining a Tax Identification Number (TIN) from the Tax Department
•  Registering your business with the Social Insurance Office
•  Guiding you through the necessary documentation and procedures
•  Registration with HRDA Authorities
•  Registration with Provident Fund provider (if applicable)

 

2️. Social Insurance & Tax Office Registration

All businesses operating in Cyprus must register with the Social Insurance and Tax authorities to fulfill legal obligations. We manage:

•  Registration of the company as an employer with the Social Insurance Office
•  Establishing the required tax records with the Tax Department (IR7)
•  Ensuring full compliance with employment laws and tax regulations

 

3️. Monthly Payroll Processing & Salary Management

Our fully managed payroll services guarantee that your employees are paid accurately and on time while adhering to local tax and employment laws. We handle:

•  Monthly payroll calculations (salaries, deductions, bonuses, overtime)
•  Payslip generation and secure distribution to employees
•  Social Insurance & Tax deductions (PAYE, GHS, and other contributions)
•  Bank payment processing for employee salaries
•  Detailed payroll reports for your accounting records

 

4️. Employee Registration with Social Insurance & Tax Office

When hiring new employees, it is crucial to register them with the authorities. We streamline the process by:

•  Submitting new employee registrations to the Social Insurance Office
•  Ensuring proper registration with the Tax Office for income tax purposes
•  Maintaining all records in compliance with regulations.

 

5️. Submission of IR7 Form (End-of-Year Payroll Report)

At the close of each financial year, employers in Cyprus must submit the IR7 form to the Tax Department. We guarantee timely and accurate submissions by:

•  Preparing and verifying the IR7 annual payroll summary
•  Submitting the IR7 form electronically to the Cyprus Tax Department
•  Ensuring compliance with all tax regulations to prevent penalties