CYAUSE Articles

It is no wonder why EU companies are increasing recruiting talent from Cyprus. Not only it makes operational sense to them but it is not costing them much either!

In this article we will explain the term remote employer and remote employment.

Cyprus have introduced the remote employer scheme where an EU Company can hire anyone in Cyprus without the need of establishing a Cyprus Branch or a Cyprus Subsidiary Company. These are great news, as the Overseas Employer will only need to assign this task to a Regulated Audit and Assurance firm like Cyprus Audit Services, which in turn, will gather all paperwork and register both the employer and the candidate with the Cyprus social securities and local income tax office.

In Cyprus, each salaried person or self-employed person must have a Personal Tax Identification Code (T.I.C) and a Personal Social Insurance Number (S.I.C). Consequently, the registration of personnel is made through the Social Insurance Office and the Income Tax Office, unfortunately, on a paper application.