Global Expansion Resources | Cyprus
Cyprus Payroll Solutions
Timely & compliant Cyprus payroll solutions tailored to your company’s needs
Issue compliant payroll seamlessly with our reliable Cyprus payroll solutions
Payroll is just one of the many hurdles your business will face when expanding globally. But you don’t have to face it alone. That’s where Leap29 comes in. With a specialist global expansion team that has over 25 years of experience across 180+ countries, Leap29’s Cyprus payroll services are guaranteed to set your company up for success on the global stage.
Helping your global operations remain lawful, our expert PEO (Professional Employer Organisation) services ensure your growing business avoids the consequences of non-compliance. Because the last thing any expanding company wants are costly fines, legal disputes and a tarnished reputation.
With Leap29 as your global payroll provider, we can help you free up more time and resources for your business to flourish within the international scene. While you focus on the day-to-day management of your company, our dedicated Cyprus payroll solutions will handle all of the country-specific complexities for you. Whether it’s processing multi-currency transactions across multiple time zones or ensuring your employees are paid correctly and on time, our international payroll specialists transform the turbulent waters of global expansion into smooth sailing for all.
How do I run payroll compliantly in Cyprus?
As a growing business looking to expand its operations globally, compliance is key. During your research, you may be asking yourself – how do I run payroll compliantly in Cyprus? To run payroll compliantly in Cyprus, your business will need to:
- Register with the Tax Department and Social Insurance Services: Upon completion of registration, the local authorities will issue a Tax Identification Number (TIN) and an Employer Social Insurance Number for your company, which are crucial for accurate payroll reporting and processing.
- Declare new recruits to the local authorities before their employment starts: New employees must be declared to the Tax Department and Social Insurance Services before their term of employment can commence. If they are not registered, employers are required to submit the necessary documentation to register them within 7 calendar days from their agreed start date.
The above, combined with Cyprus’ complex tax regulations and bureaucratic procedures, can make the country’s laws difficult to navigate and slow the process of global expansion down significantly. But, with Leap29’s expert PEO team by your side, payroll, tax and compliance proceedings are made simple and hassle-free.
Want to expand into Cyprus?
Contact us today to see how Leap29 can be the trusted Payroll partner that supports your global expansion.
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What’s included:
HR software
Bespoke employee management software included in our PEO service.
Global compliance
We have expert teams across the world to ensure global compliance.
Transparent pricing
Avoid hidden costs and account for our fee with our transparent pricing.
Cyprus Payroll & Expansion Advice
What are the benefits of setting up a business in Cyprus and how can our global payroll solutions support your expansion?
Setting up a business in Cyprus offers several benefits, including:
- Low corporate income tax rate: Reducing the tax burden for your company, Cyprus has one of the lowest corporate income tax rates in Europe – standing at 12.5%.
- Access to the European Union (EU) market: With Cyprus being a full member of the EU, your business will have uninterrupted access to the world’s largest single market. Your company will also be able to operate and trade freely within the EU without restrictions.
- One of the most liberal tax policies in Europe: Business owners expanding into Cyprus don’t need to pay tax on transactions with securities, re-registration of real estate, or operations of subsidiaries and branches.
But in order to fully take advantage of these benefits, without losing sight of core business management and compliance, you’ll need a dependable PEO provider alongside you. As we’ve already mentioned, compliance is key when it comes to expanding globally. Not just with regard to payroll, but also in terms of employment contracts, local tax obligations, HR duties, labour laws, and much more.
Leap29’s specialist PEO services can help you seamlessly manage all of the above. That includes our expert Cyprus payroll solutions, which can be tailored to meet your company’s individual needs – from paying a single employee to an entire workforce.
Why choose Leap29 as your Cyprus payroll provider?
Ensuring precision, global compliance and transparent pricing, Leap29’s Cyprus payroll solutions offer 99.99% accuracy, dedicated support towards lawful expansion and no hidden fees.
As a market-leading global payroll provider, the team of experts at Leap29 has over 25 years of experience that spans over 180 countries, as well as several of the world’s most lucrative sectors – including but not limited to:
- Aerospace
- Construction & Engineering
- Education
- Life Sciences & Pharmaceuticals
- Manufacturing
- Medical & Healthcare
- Oil & Gas
- Renewable Energy
- Technology
- Transport & Logistics
With a wealth of experience in workforce management and employment laws in Cyprus, Leap29 can help your business compete in one of the world’s fastest-growing economies with ease.
To find out more about how our Cyprus Payroll Solutions can support your global expansion, call our experts today on +44 (0) 20 8129 6860 or email us at expansion@leap29.com.
Why not try our Employee Cost Calculator to find out how much it costs to employ someone internationally? Simply enter your chosen country and base salary, then find out the employment costs in seconds!
Don’t take our word for it!
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Cyprus Payroll Solutions: FAQs
What do Leap29’s Cyprus payroll solutions include?
Leap29’s Cyprus payroll services include:
- Calculating salaries
- Creating monthly or weekly payslips
- Calculating tax-free allowances and tax rates
- Submitting tax returns
- Filing annual wage reports
- Managing expenses and employee benefits
- Complying with immigration, tax and insurance laws
- Processing multi-currency payments with minimal administration
- Complying with Cypriot employment laws
How much do Leap29’s Cyprus payroll solutions cost and what are the benefits of the service?
Leap29’s Cyprus payroll services start at $15 per employee/month. The benefits of this service include:
- 99.99% payroll accuracy
- Optional API integrations with your HR, finance and accounting packages
- Local, regional and HQ-level support from our payroll experts
- A visual presentation of your data to help drive more informed business decisions
You can also add on additional services, including tax and labour authority handling, compliance management/monitoring and extra HR support. View Leap29’s pricing for more information.
Why do I need Leap29’s Cyprus payroll solutions?
Global expansion and compliance is no mean feat for a growing business that also needs time to focus on its core, day-to-day management and local employees. Your business will benefit from Leap29’s Cyprus payroll solutions because this service:
- Guarantees compliance with local law: Leap29’s reliable Cyprus payroll solutions allow your business to take advantage of our team’s rich, country-specific knowledge regarding local tax, employment and labour laws.
- Simplifies the complexities of multi-country payroll: The specialist team at Leap29 has over 25 years of experience in handling multi-country payroll, dealing with several currencies across multiple time zones.
- Frees up internal HR resources: Your in-house HR team is unlikely to have the expertise, time and resources to manage the complexity of multi-country payroll. Additionally, it would be impractical to employ a HR team in Cyprus where you may only be looking to hire a handful of people.
Talk to an expert today
Already have your own entities? Just starting out?
Whatever stage you’re at in your global expansion journey, we can help.
Contact us today to see how Leap29 can be the trusted PEO partner that supports your global expansion.
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Cyprus
Expansion Resources
Local expertise, global reach
Employ people compliantly in 180+ countries – with or without your own foreign entities. We can help you set up and manage foreign entities – or act as an Employer of Record. We can also help with multi-country payroll and all your HR management. Wherever, whenever and however you want to employ people, we can help.
180+
We make expansion into Australia simple
Employing people compliantly across international borders can be challenging but we make it simple, bringing down barriers and making light work of the complexities. We offer the full range of compliant global expansion solutions so that wherever, whenever and however you want to employ people, we can support you.
EOR Services
Employ people compliantly in 180+ countries – without setting up new entities. We’ll shoulder responsibility as Employer of Record (EOR), making sure all your international employment is fully compliant.
We can also take care of your global HR from multi-country payroll to onboarding and offboarding.
Payroll Solutions
Getting global payroll right is one of the hardest challenges for any business expanding into new countries. We can shoulder this burden, freeing up valuable in-house resource to focus on growing your business.
Consider us an extension of your HR team, ready to answer all your questions large and small.
Global Mobility
Mobilise your people across borders with ease. Relocating to work abroad can feel daunting. But with Leap29 at your side, your employees can feel safe and supported.
We’ll guide your employees through the complexities of working in another country, helping them settle in fast.
Entity Services
Follow the opportunities to grow your business – wherever they take you.
We lighten the load of establishing and managing foreign entities and can help you solve all your entity challenges from running compliant, accurate multi-country payroll to local accounting and financial reporting.
PEO Solutions
Employ international talent wherever and whenever you need it – and enjoy the peace of mind of knowing you’re fully compliant. Our Professional Employer Organisation (PEO) services allow you to focus on growing your business while we handle compliance, multi-country payroll and your global HR.
Support & Advisory
The help you need to make your global growth effortless – trusted guidance and advice on your expansion challenges large and small.
HR Support
When you’re employing people in lots of different countries, answering just a simple query can take a disproportionate amount of time for your in-house HR team. Our HR Support service reduces this burden, saving you time and money and giving you the confidence of knowing your employees are well looked after, whatever their location.
Contractor Payroll
Enjoy compliant contractor payroll that meets all local requirements for tax, social security and employment legislation. We understand the importance of compliant contractor payroll to the success of your business and will pay your contractors on time, every time.
Start hiring today – and onboard within hours.
Pricing
Budget confidently with transparent, competitive fees and no hidden costs.
Want us to shoulder employer liability and take care of your global HR through our EOR solution? No problem. Just want global payroll? You can have that too. Pick the solutions that your individual business needs.