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

Individual

 

Our Tax & Consultancy Services for Individuals

 

We offer expert tax services tailored for individuals, ensuring adherence to Cyprus tax laws while enhancing tax efficiency. Whether you require assistance with your annual tax return or need professional advice, we make the process straightforward for you.

 

1️. Annual Tax Return (IR1) Submission

 

Every individual earning income in Cyprus is required to submit an annual tax return (IR1) to the Tax Department. We manage the entire process to guarantee timely and precise filing. Our services encompass:

•  Preparation and submission of your IR1 form
•  Compliance with Cyprus income tax regulations
•  Electronic submission through the Tax Department’s online platform
•  Guidance on potential tax refunds or liabilities

 

2️. Tax Consultancy & Planning

 

Navigating tax regulations can be challenging. Our customized tax consultancy services empower individuals to make informed financial choices while optimizing tax efficiency. We offer:

•  Expert advice on income tax, capital gains tax, and VAT
•  Insights on tax deductions, allowances, and exemptions
•  Strategies for tax optimization to reduce liabilities
•  Support for expats and foreign individuals dealing with Cyprus tax laws
•  Help with double taxation agreements for non-residents

 

3️. Social Insurance & GHS (GESY) Contributions

 

Individuals working or living in Cyprus must contribute to the Social Insurance Fund and the General Healthcare System (GESY). We provide assistance with:

•  Registration for Social Insurance and GHS contributions
•  Calculation of monthly or annual contributions based on income
•  Compliance with employment and self-employment regulations

 

4️. Tax Residency & Non-Domicile Status Assistance

 

For those moving to Cyprus, understanding tax residency and non-domicile benefits is crucial. We offer:

•  Help with obtaining Cyprus tax residency (183-day and 60-day rule)
•  Guidance on non-domicile tax benefits (exemptions from certain taxes)
•  Support with tax certificates for proof of residency

 

5️. Assistance with Tax Disputes & Compliance Issues 

If you’re dealing with tax-related issues or disputes, we can help you resolve them quickly and effectively. Our services include: 

•  Reviewing and correcting past tax submissions 
•  Support with an Objection submission