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PAYROLL SERVICES

(Companies and Self-employed)

Payroll Services in Cyprus

There are two ways to do business in Cyprus. You can trade as a physical person (“self-employed”) or you can create your own company and become a director and/or shareholder. A company is a separate legal entity from its shareholders either individuals or other companies. At Pro Vision, we can help you with choosing what is appropriate under your unique circumstances.

Payroll services is a key business activity, even for a small number of employees. This can be a stressful and time-consuming task made even more challenging by the need to comply with employment legislation, social securities and the risk of penalties for non-compliance.

Pro vision can provide you with dedicated high-quality payroll services and help you focus on added value activities. There are significant benefits to outsourcing your payroll to us such as:

Timely and accurate service by our experienced team
Significant savings in time and money
Professional and customized service
Compliance with local laws regulations

Pro_Vision can offer you the following:

Our Services

Company and employees’ registration with the Social Insurance Department
Registering the Company with the Cyprus Income Tax Office
Addition of new employees and removal of employees that have left the company
Obtaining a yellow slip for foreign employees when required
Tax Consultation to expatriates and relocation to Cyprus
Assistance for work and residence permit
Maintaining employees’ records
Payroll processing, issue of payslips and payroll reports
Payment to employees’ personal accounts through access to client’s online banking
Calculation and payment of Social Insurance
Calculation and payment of PAYE
Preparation and submission of company’s annual payroll form TD7
Preparation of employees’ annual payroll forms TD63
Advising on deemed benefit and benefits in kind
Preparation of personal tax returns