When do I have to transfer the social security contributions?

Social security contributions are due monthly once your company has applied for a social insurance number (SIN) and pays at least one employee a salary. The application for the social insurance number of your company and your director (max. two directors) is included in our Cyprus Limited formation package.

The administration and preparation of the social security contributions are part of our Tax Administration and Audit package. Your tax advisor will calculate the payable amount and explain how to transfer them.

You can choose whether the social security contributions are collected by direct debit from your company account (depends on your bank account type) or whether your company transfers them monthly itself.