(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