CYPRUS COMPANY PAYROLL SERVICES

The cost of our work will depend on the nature, volume and complexity of your employees remuneration and time spend on your affairs. Our fees vary depending on the number of employees you have for processing.

Employee Number Set Up Cost - one-off fee € Monthly Payroll Cost - Monthly Fee € Preparation of TD.7 (IR.7) €
<5 Same as monthly payroll fee 200 + VAT 250
<15 Same as monthly payroll fee 450 + VAT 350
<30 Same as monthly payroll fee 750 + VAT 600
<50 Same as monthly payroll fee 1000 + VAT 900
<100 Same as monthly payroll fee 1800 + VAT 2000
>100 Same as monthly payroll fee 15 + VAT per employee 18 + VAT per employee
<5 Employees
€ 200
Monthly + VAT
Set Up: Same as monthly
TD.7 (IR.7): €250
<15 Employees
€ 450
Monthly + VAT
Set Up: Same as monthly
TD.7 (IR.7): €350
<30 Employees
€ 750
Monthly + VAT
Set Up: Same as monthly
TD.7 (IR.7): €600
<50 Employees
€ 1000
Monthly + VAT
Set Up: Same as monthly
TD.7 (IR.7): €900
<100 Employees
€ 1800
Monthly + VAT
Set Up: Same as monthly
TD.7 (IR.7): €2000
>100 Employees
€ 15
Per Employee + VAT
Set Up: Same as monthly
TD.7 (IR.7): €18 + VAT per emp.
The above fees do not include:
Additional Services
Service €
Registering the Company with Social Insurance Office 150
Registering Employee with Social Insurance (obtaining S.I.C) 150
Obtaining a Tax Identification Number (new employees) 150
Deregistering employees from Social Security 75
Registration as a Foreign Employer with the social securities 450
Registration of the Foreign Employer with the tax 450
Registration of the individual as self-employed 225
Objection to the social insurance office for self-employed 225
Execution of monthly salary payments 75
Payroll set-up (one-off) same as monthly fees
The above fees include:
  • Interface payroll entries to Company's accounting software.
  • Monthly payment of Social Insurance Contributions and P.A.Y.E taxes.
  • Distribution of payslips on a monthly basis.
  • Creation of emoluments certificate (IR63) on an annual basis
  • Creation of payslips on a monthly basis
  • Ad Hoc Assistance on Payroll matters
  • Advisory on Payroll matters
Assumptions:
  • There are no hourly employees
  • All employees are paid on a monthly basis
  • Employees remuneration is based on a fixed salary
  • Some employees earn bonuses
  • We will be provided with the IR59 for the year
  • The Company has low staff turnover (less than 10% employees in a year leave employment)
  • Payroll figures will be provided to us by the 15th of the month
Benefits in kind:

This price list assumes that less than 5% of employees have benefits in kind.

If the number of employees with benefits in kind exceed this amount an additional charge of Euro 200 per employee, per annum will be incurred to cover additional cost incurred in calculations and special tax treatments during the year and at the year end.


Note: Benefits in kind carry significant tax calculations and correspondence with the employees and employer and as a result, additional charges accrue as specialist knowledge is required.

Complimentary Services
  • Services offered Directly by Mr. Tramountanellis:
  • Advisory Services on Tax & VAT Related matters Non-Payroll Related.
  • Services offered by our Experienced Accounting Team:
  • Advisory Services on Payroll matters, monthly basis
  • Ad Hoc Assistance on Accounting matters
  • Back Office Support on Accounting matters
Specialized Work Performed:

Specialized work required by CYAUSE Audit Services Ltd such as tax advisory, audit and other advisory services will be considered as a different engagement and will be priced differently, subject to the complexity and volume of work involved.

We will inform you in advance if such work bears additional charges which will be pre-agreed between us before we commence work.

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For specialized services or unique business requirements, contact us for a personalized consultation and tailored pricing.

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