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Hiring guidelines in Cyprus
- Pay & taxes
- Leave policy
- Termination
- Time-off
- Additional info
Pay & taxes
Leave policy
Termination
Time-off
Additional info
Minimum Wage Requirements
The minimum wage is EUR 924 per month. However, during the first six months of employment, it can be EUR 870.
Individual Income Tax
The individual income tax ranges from 0% to 35%. Income tax is calculated according to progressive rates. Multiple additional factors may impact overall rates such as the household status and the number of children.
| Gross Annual Income | Tax Rate (%) |
|---|---|
| Up to EUR 19,500 | 0% |
| Up to EUR 28,000 | 20% |
| Up to EUR 36,300 | 25% |
| Up to EUR 60,000 | 30% |
| Over EUR 60,000 | 35% |
Payroll Cost
The employer cost is generally estimated at 14.90% of the employee salary.
- Social Security - 8.30%*
- Social Cohesion fund - 2%
- Human resources - 0.5%*
- Redundancy fund - 1.2%*
- General Health care system - 2.9%**
*Up maximum salary for the contribution of EUR 5,005
**Up maximum salary for the contribution of EUR EUR 15,000
Overtime Pay & Maximum Hours
Standard working hours are 8 hours per day, 40 hours per week. The standard workweek is from Monday to Friday.
Employees working in the retail and sales industries can have a standard 8 hours per day, 48 hours per week from Monday to Saturday.