Employers with five or more staff must pay wages through banks

An amendment to the Labour Law introduces mandatory bank transfers for wage payments in North Cyprus. The rule takes effect on 31 March 2026.

It covers employers whose total headcount across all workplaces they operate is five or more. These employers must deposit the net wage, after statutory deductions, into an account opened in each employee's own name at a bank or cooperative institution.

The amendment also clarifies the definition of wages: amounts provided in return for work or services count as wages regardless of how they are paid.

Workplaces that currently pay salaries in cash should complete account openings for their staff and move payroll to bank transfers before 31 March 2026. Feel free to contact us to set up a compliant payroll process together.

For the detailed steps to comply, see our wage bank payment compliance guide.