Payroll & Social Insurance in Nicosia
Cyprus payroll requires monthly calculation of employee income tax (PAYE), social insurance contributions (currently 8.8% employee + 8.8% employer), General Healthcare System contributions, and various sector-specific withholdings. Most Cyprus accounting firms offer payroll services alongside bookkeeping, typically priced per employee.
Cyprus payroll obligations
Employers must calculate and remit monthly: employee income tax under PAYE (deducted at source based on employee tax code), social insurance contributions of 8.8% employee + 8.8% employer (capped at €62,868 annual salary base for 2024), General Healthcare System (GESY) contributions of 2.65% employee + 2.9% employer (on income up to €180,000), Redundancy Fund 1.2% employer, Industrial Training Fund 0.5% employer (some sectors), and Human Resource Development Authority 0.5% employer (most sectors).
Total employer cost above gross salary is approximately 14-16% depending on applicable funds.
Filing and reporting
Monthly filings via the Social Insurance Services portal are due by the 10th of the following month. Late filings attract fines and interest. Annual employer certificates (Form IR63) summarising employee tax and social insurance withholdings must be provided to employees and filed with the Tax Department by 31 May of the following year. Employees requiring tax adjustments can submit revised TD59 tax code requests to their employer.
Payroll service pricing
Cyprus payroll service pricing is typically per-employee per-month. Standard rates: 1-10 employees €15-€30 per employee/month; 11-50 employees €10-€20; 50+ employees €7-€15. Additional charges may apply for payslip distribution, direct bank transfers, bespoke reporting, or annual returns. Setup fees typically €200-€500.
Firms specialising in Payroll & Social Insurance
15 firmsMulti-practitioner firms with documented practice in Payroll & Social Insurance, ranked by claim status, listing completeness, and client rating.
A&C Christofi Ltd is a Cyprus-based firm of Certified Chartered Accountants and Registered Auditors, providing accounting, audit, tax, payroll, business advisory, and other professional services to SMEs and individuals. With over 17 years of experience, they emphasize human-centered advisory and technology-enabled efficiency.
Joannides + Co Ltd is a leading Cypriot firm of accountants and management consultants with over 45 years of experience. They provide audit, tax, business support, fund administration, and management consulting to international companies and private clients. The firm has offices in Nicosia, Limassol, and Larnaca and is a member of AGN International.
Demetriou & Associates Business Advisers Ltd (dba) is a dynamic firm of professional accountants and business advisers based in Nicosia, Cyprus. Established in 2017 by a team with over 30 years of experience, the firm offers audit, assurance, taxation, accounting, advisory, and business setup services. They are a member of DFK International, a global association of independent accounting firms.
M.T. Michaelides Co Ltd is a Cyprus-based firm of chartered certified accountants offering audit, accounting, tax, and business advisory services. It is a member of INTEGRA International since 2004, providing international reach.
Alliott Partellas Kiliaris Ltd is a Cyprus-based professional services firm offering audit, accounting, tax, and business advisory services to local and international clients. They also provide company registration, payroll, and management consulting. The firm is a member of Alliott Global Alliance, combining local expertise with a global network.
Reanda Cyprus is a professional services firm offering corporate, accounting, and international tax services. They help clients navigate the complexities of international business with services including audit, tax, corporate finance, immigration, and compliance. They are part of the Reanda International network, originally founded by a top-tier Chinese firm in 1993.
UHY Antonis Kassapis Ltd is the Cyprus member firm of UHY International, based in Nicosia. Established in 1991, it provides audit, tax, accounting, corporate and fiduciary, and management consultancy services to local and international clients.
CYAUSE Audit Services Ltd, established in 2011, is a Cyprus-based professional services firm offering audit, tax, accounting, company formation, licensing, and advisory services. With offices in Limassol, Nicosia, and Abu Dhabi, and membership in BKR International, the firm serves international and local clients across diverse industries, including high net worth individuals, investment firms, and trading companies.
PEK Ltd is a Cyprus-based professional services firm offering auditing, taxation, bookkeeping, corporate services, consulting, shipping, and yacht registration. The firm emphasizes quality and client trust, with a specialized team operating in an internationally oriented environment.
Baker Tilly South East Europe provides assurance, tax, advisory, and specialist consulting services across Cyprus, Greece, Bulgaria, Romania, and Moldova. The firm emphasizes a people-first approach and aims to help clients grow by anticipating future challenges. It is a member of Baker Tilly International.
P. Kalopetrides & Co is a Cyprus-based professional services firm offering business consulting, tax, assurance, accounting, and advisory services. They serve onshore and offshore clients with a focus on family businesses and startups. The firm has offices in Nicosia, Limassol, and Paphos.
One of the leading professional firms in the service sector in Cyprus, G. Josephakis Audit Ltd offers audit and assurance, taxation, business advisory, accounting, company formation, and training services. Their mission is to provide high-standard professional services to help clients succeed.
HLB Cyprus is a chartered accounting and advisory firm, originally established in 1997 and now among the largest in Cyprus. It provides audit, tax, advisory, corporate compliance, payroll, and cyber security services to a diverse, multinational clientele. The firm is a member of HLB International, a global network of independent accounting firms.
Morison Patsalides Limited is a Cyprus-based firm of chartered accountants founded in 1990. They offer audit, accounting, tax, international business, consulting, and corporate finance services. The firm is a member of the Morison Global international network and prides itself on a personal approach to client needs.
AGBS Group is a boutique professional services firm in Cyprus with over 40 years of experience. It offers audit, accounting, taxation, VAT, corporate services, business consultancy, and fiduciary services to local and international clients across various industries.
Independent specialists
198Certified Public Accountant · Nicosia
Certified Public Accountant · Nicosia
Certified Public Accountant · Nicosia
Certified Public Accountant · Nicosia
Certified Public Accountant · Nicosia
Certified Public Accountant · Nicosia
Certified Public Accountant · Nicosia
Certified Public Accountant · Nicosia
Certified Public Accountant · Nicosia
Certified Public Accountant · Nicosia
Certified Public Accountant · Nicosia
Certified Public Accountant · Nicosia
Certified Public Accountant · Nicosia
Certified Public Accountant · Nicosia
Certified Public Accountant · Nicosia
Certified Public Accountant · Nicosia
Certified Public Accountant · Nicosia
Certified Public Accountant · Nicosia
Certified Public Accountant · Nicosia
Certified Public Accountant · Nicosia
Certified Public Accountant · Nicosia
Certified Public Accountant · Nicosia
Certified Public Accountant · Nicosia
Certified Public Accountant · Nicosia
Certified Public Accountant · Nicosia
Certified Public Accountant · Nicosia
Certified Public Accountant · Nicosia
Certified Public Accountant · Nicosia
Certified Public Accountant · Nicosia
Certified Public Accountant · Nicosia
Certified Public Accountant · Nicosia
Certified Public Accountant · Nicosia
Certified Public Accountant · Nicosia
Certified Public Accountant · Nicosia
Certified Public Accountant · Nicosia
Certified Public Accountant · Nicosia
Certified Public Accountant · Nicosia
Certified Public Accountant · Nicosia
Certified Public Accountant · Nicosia
Certified Public Accountant · Nicosia
Certified Public Accountant · Nicosia
Certified Public Accountant · Nicosia
Certified Public Accountant · Nicosia
Certified Public Accountant · Nicosia
Certified Public Accountant · Nicosia
Certified Public Accountant · Nicosia
Certified Public Accountant · Nicosia
Certified Public Accountant · Nicosia
Certified Public Accountant · Nicosia
Certified Public Accountant · Nicosia
🎯 Firms are ranked by claim status, listing completeness, and client ratings. Firms that have claimed their listing and provided detailed information rank higher. Claim your firm's listing →
Frequently asked questions
What is the total employer cost of hiring in Cyprus?
On top of gross salary, employers typically pay 8.8% social insurance, 2.9% GESY, 1.2% Redundancy Fund, and 0.5-1% training funds — total 13-14%. Salary above the social insurance ceiling (€62,868 in 2024) has reduced employer costs (GESY only above ceiling). Example: €30,000 gross salary costs employer approximately €33,900-€34,200.
Can I pay my employees monthly, weekly, or fortnightly?
Cyprus employers can choose payment frequency, though monthly is standard. Payment must occur by the last working day of the pay period. Employment contracts should specify the pay frequency and date.
Are directors treated as employees for payroll purposes?
Executive directors who receive salary are treated as employees for PAYE and social insurance. Non-executive directors receiving director fees may be treated differently — sometimes as self-employed for social insurance, sometimes as employees depending on the arrangement. Specialist advice is recommended for board fee structuring.
How does the 13th salary work in Cyprus?
The 13th salary (Christmas bonus) is not statutorily required in Cyprus but is customary in many sectors. Where included in employment contracts or collective agreements, it is paid before Christmas and is subject to standard tax and social insurance. Some contracts also include a 14th salary paid at Easter.
Do I need to enrol employees in a pension scheme?
Cyprus does not have auto-enrolment pension legislation like the UK. State pension is provided through the Social Insurance system. Employers may voluntarily offer private pension schemes (occupational pensions) — these are increasingly common as recruitment tools but not mandatory.