Remote’s guide to employing in Cyprus.
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We own our own entity in the countries where we operate to shield your company from risk and provide you and your employees with the signature Remote experience.
The Republic of Cyprus (Greek: Κυπριακή Δημοκρατία; Turkish: Kıbrıs Cumhuriyeti) is a Mediterranean island nation nestled just off the coasts of Israel, Turkey, and Egypt. The famed tourist hotspot is rich with history and natural beauty.
Beyond a storied cultural heritage that has been 12,000 years in the making, Cyprus is an advanced, high-income economy with an exceptionally high rating on the human development index. Free public education and low income inequality makes Cyprus an attractive market for skilled talent and multinational corporations.
1,189,265 (est. 2018)
Ease of doing business
Cost of living index
$$$ (36 of 139 nations)
VAT - standard rate
GDP - real growth rate
To employ in Cyprus, companies must own a local legal entity in the country or work with a global HR partner. Managing payroll, benefits, taxes, and compliance in Cyprus can get complicated, especially without Cypriot HR and legal experts and established local relationships.
Remote’s global employment solution makes it easy to employ workers in Cyprus quickly, efficiently, and in full compliance with all applicable labor laws. We take on the responsibility of keeping you compliant with international employment legislation so you can focus on the more important strategic parts of growing your business.
Cypriot labor regulations are contained in several legislations that spell out provisions for employee protections and workers’ rights applicable to Cyprus’ workforce of 440,000.
Employees in Cyprus enjoy protections against discrimination based on age, religion, sexual orientation, gender expression, and race.
Common questions that could come up during the hiring process include the minimum wage, overtime rates, and guaranteed paid time off. Remote can help you offer a complete, competitive, and compliant benefits package to your employees in Cyprus.
|Saturday, January 1, 2022||New Year's Day|
|Thursday, January 6, 2022||Epiphany|
|Monday, March 7, 2022||Green Monday (Beginning of Lent)||Changes Annually|
|Friday, March 25, 2022||Greece Independence Day|
|Friday, April 1, 2022||National Day|
|Friday, April 22, 2022||Orthodox Good Friday||Changes Annually|
|Sunday, April 24, 2022||Orthodox Easter Sunday|
|Monday, April 25, 2022||Orthodox Easter Monday|
|Tuesday, April 26, 2022||Orthodox Easter Tuesday|
|Sunday, May 1, 2022||Labour Day|
|Monday, June 13, 2022||Orthodox Pentecost Monday||Changes Annually|
|Monday, August 15, 2022||Assumption Day|
|Saturday, October 1, 2022||Cyprus Independence Day|
|Friday, October 28, 2022||Greek National Day|
|Sunday, December 25, 2022||Christmas Day|
|Monday, December 26, 2022||Boxing Day|
Cypriot labor regulations only specify minimum wage requirements for specific industries & worker classifications such as:
Cypriot minimum wage laws appear to cater to Cyprus’s agriculture economy and in the absence of any specified wage, employers and employees are free to negotiate independently.
For customers of Remote, all employee payments will be made in equal monthly installments on or before the last working day of each calendar month, payable in arrears.
We can help you get a new employee started in Cyprus fast. The minimum onboarding time we need is only 14 working days.
Our team ensures your employees are onboarded and paid as quickly as possible while keeping your business compliant with all local employment legislation. The minimum onboarding time begins after the employee submits all required information onto the Remote platform. The onboarding timeline is also dependent upon registration with local authorities.
For all non-nationals of the country of employment, the Right to Work assessment (if applicable) will add three extra days to the total time to onboard. There may be extra time required if we need to follow-up on the right to work assessment.
Please note, payroll cut-off dates can impact the actual first day of employment. Remote has a payroll cut-off date of the 10th of the month unless otherwise specified.
At Remote, we’re obsessed with helping you craft the best possible employee experience for your team. We are leading the way in practicing “fair equity,” which means making sure employees everywhere have access to both the required and supplemental benefits they need to thrive (and that will allow you to attract the best local talent).
Our benefits packages in Cyprus are tailored to fulfill the local needs of your employees. Typically, our packages contain some or all of the following benefits:
In order to access specific information about our benefits packages in Cyprus, start onboarding your first employee with Remote today.
Learn how employment taxes and statutory fees affect your payroll and your employees’ paychecks in Cyprus.
12.5% - Corporate tax rate
8.3% - Social insurance
2% - Social cohesion
1.2% - Redundancy
0.5% - Training & development
2.9% - National health system
8% - Holiday fund
8.3% - Social insurance
2.65% - National Health System
0% - Up to €19,500
20% - €19,500 to €28,000
25% - €28,000 to €36,300
30% - €36,300 to €60,000
35% - Above €60,000
Employees are entitled to four weeks of paid leave after completing 48 weeks on the job every year. Within that bracket, employees who work 5 days a week are entitled to 20 days of leave annually, while employees who work 6 days weekly are entitled to 24 days of paid annual leave.
In addition to the paid leave entitlement, both part-time and full-time Cypriot workers are entitled to take the 13 public holidays off as, with full wages paid.
Starting the fourth day of an illness, sick employees can draw benefits from the Social Insurance Fund for up to 156 days.
Female employees can take up to 18 weeks of paid leave for a single birth, 22 weeks for twins, and 26 weeks for triplets or more, with a maternity benefit paid by the government at a rate of 72% of the employee’s normal wages.
Natural fathers can take 2 weeks of paid leave, anytime within their partner’s maternity leave window.
Each parent can take up to seven weeks of leave annually to care for their children aged below eight. After exercising the first two weeks, parental leave entitlement can be transferred between partners.
Employee contracts can be terminated if a just cause is established, such as dishonesty, negligence, fraud, or any other work-related offenses.
Like its severance obligations, notice periods in Cyprus depend on how long an employee has worked with the employer.
In Cyprus, severance pay entitlements are calculated based on an employee’s tenure with the employing organization, ranging across:
Probation periods can last anywhere from six months to two years, as long as both parties agree to it in the terms of the employment contract.