Standard Admin / Friday, May 24, 2024 / Categories: Cyprus Company Governance, Cyprus Taxation on Individuals, Cyprus Audit Requirements, ACCOUNTING SERVICES, VAT SERVICES Cyprus Remote Employer: Why it Makes Perfect Sense: Hire in Cyprus without Cyprus Corporate Set Up (Article & Video)) Cyprus Remote Employer Payroll Solution (for EU Companies) Cyprus Remote Employer: Why it Makes Perfect Sense: Hire in Cyprus without Cyprus Corporate Set Up (Article & Video)) https://www.cyprusaccountants.com.cy/... Cyprus Remote Employer Payroll Solution (for EU Companies) 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. Once the remote employer and candidate are registered for payroll purposes, the remote employer will have to comply with the local tax and regulations. Cyprus Remote Employer Payroll Solution (for EU Companies) 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. Once the remote employer and candidate are registered for payroll purposes, the remote employer will have to comply with the local tax and regulations Responsibilities of the remote employer: - To pay its employees in Cyprus, on a monthly basis, as per employment contract - To pay monthly payroll taxes such as: Social Security, National Healthcare and Pay As You Earn Tax (PAYE) - To provide monthly payslips to the employees So the requirements are pretty standardised; there is really nothing unusual requested of an overseas employer here in Cyprus. In fact both the local as well as the overseas employer are obliged to follow the same rules, regulations and filing requirements. Feel free to contact us for a free consultation and we will be more than happy to assist you. Important Note: Remote employers outside the EU must follow a different route as they are required to establish a Cyprus Company or a Cyprus branch and then employee staff working in Cyprus. A short Recap!!! ▽ About Us CYAUSE Audit Services Ltd (Audit- Consulting - Tax) ➤ License Number E321/A/2013 ➤Expertise in International Taxation and Company Set Up ➤Cyprus Based Tax Experts, Auditors and Corporate Service Providers ➤Offices in Limassol and Nicosia Cyprus ▽ Follow CYAUSE by Tramountanellis ➤Website→ https://cyprusaccountants.com.cy ➤YouTube → / 0kt1 . ➤Facebook → https://www.facebook.com/cyause/ ➤Linked In → https://www.linkedin.com/in/kyriakos-... ➤Twitter → https://twitter.com/CyprusAudit_Tax ➤ Mobile App “Cyprus Audit & Tax” – Free from App Store & Google Play ▽ Contact Us ➤ Kyriakos Tramountanellis → kt@cyprusaccountants.com.cy ➤ Direct Line: 00357 99 428 543 Previous Article Cyprus Sanctioned Affected Companies - Can New Service Providers Service Them? Next Article Cyprus Deemed Dividend Tax & Example: Most Commonly Forgotten Tax (Video) Print 9 Rate this article: No rating Tags: cyprusCyprus companiesRemote employerCyprus overseas employerImmigrationAccountingSICSocial insuranceRecruitment Please login or register to post comments.
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