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info@eltoma-global.com
info@eltoma-global.com
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Payroll Services – Cyprus
Compliant, Confidential, and Cost-Effective Payroll Solutions
for Cyprus-Based Employers
for Cyprus-Based Employers
Cyprus-incorporated companies (local and foreign-owned)
Non-resident employers with payroll obligations in Cyprus
Employers operating in regulated sectors (e.g. CIFs, law firms, TCSPs)
Branches or subsidiaries of international groups employing staff locally
Small and medium-sized enterprises (SMEs) without in-house payroll capacity
Payroll Services
Compliant, Confidential, and Cost-Effective Payroll Solutions
for Cyprus-Based Employers.
for Cyprus-Based Employers.
Eltoma (Cyprus) Limited provides fully managed payroll outsourcing services for employers operating in Cyprus. Our experienced team ensures that employee compensation is processed accurately, in compliance with Cyprus labour laws, tax reporting obligations, and social insurance legislation, including General Healthcare System (GHS) requirements.
We manage the entire payroll cycle—from employee onboarding to payslip generation and electronic submission of returns to the Cyprus Tax Department and Social Insurance Services. Whether you are a local SME, an international company with staff in Cyprus, or a regulated entity subject to stricter reporting standards, we provide a secure and efficient payroll function tailored to your business needs.
We manage the entire payroll cycle—from employee onboarding to payslip generation and electronic submission of returns to the Cyprus Tax Department and Social Insurance Services. Whether you are a local SME, an international company with staff in Cyprus, or a regulated entity subject to stricter reporting standards, we provide a secure and efficient payroll function tailored to your business needs.
Our Services Include:
- Calculation of gross-to-net salaries including all statutory deductions
- Generation and secure distribution of monthly payslips
- Processing of bonuses, commissions, overtime, and shift allowances
- Compliance with Cyprus national minimum wage, working hours, and statutory leave provisions
- Preparation of salary bank payment files for direct upload to online banking systems
- Support for 13th salary or annual gratuity processing (where applicable)
Registration of employer and employees with:
- Social Insurance Services
- Tax Department (TIC application)
- General Healthcare System (ΓεΣΥ/GHS)
- Provident Funds and Redundancy Fund (where applicable);
- Monitoring of rate changes and legislative updates affecting payroll;
- Generation of employee registration or termination forms (ΥΚΑ 1-1, ΥΚΑ 2-002).
- Preparation and filing of monthly IR63 tax returns
- Social insurance and GHS monthly electronic submissions
- Payment reminders for PAYE, SSC, and GHS liabilities
- Preparation and filing of the annual IR7 employer summary
- Issuance of Form IR63A (employee tax statement) and IR59 (termination certificates)
- Liaison with authorities for payroll inspections or compliance enquiries.
- Collection and verification of personal data, ID documents, and bank details
- Preparation of employment contracts in English and Greek (if requested)
- Calculation of termination payments including accrued leave, notice period, and redundancy
- Final payslip generation and statutory notifications to authorities
- Maintenance of personnel files in accordance with GDPR and Cyprus Employment Law.
- Tracking and recording of annual leave, sick leave, maternity/paternity leave, and public holidays
- Calculation of statutory sick pay and maternity entitlements
- Administration of benefit-in-kind (BIK) items such as company car, private insurance, and housing allowances
- Implementation of holiday bonus and other fringe benefits under employment agreements or collective labour arrangements.
- Monthly summary reports including gross pay, deductions, employer costs, and net pay
- Departmental or cost-centre breakdowns for internal accounting
- Reconciliation of payroll liabilities with payment records
- Provision of supporting schedules for external audits and tax reviews
- Archiving of payroll data in line with the 7-year statutory recordkeeping requirement.
Why Choose Eltoma for Cyprus Payroll?
- Local Expertise
In-depth knowledge of Cyprus payroll law, social security, and tax obligations - Full Compliance
Timely submission of all statutory returns and payments to avoid penalties - Data Security
Payroll handled confidentially with GDPR-compliant systems and strict internal controls - End-to-End Support
From registration and onboarding to monthly processing and terminations - Integrated Services
Seamless coordination with our accounting, tax, HR, and legal teams
| | Get in Touch Outsource your Cyprus payroll function to Eltoma (Cyprus) Limited and ensure compliant, timely, and confidential salary administration with full peace of mind. |