Cyprus
Make employment in Cyprus easy. Let us handle payroll, benefits, taxes, compliance, and even stock options for your team in Cyprus, all in one easy-to-use platform.
- Capital City
Nicosia
- Currency
Euro (€, EUR)
- Languages
Greek and Turkish
- Population size
1,189,265
Facts & Stats
- Capital City
Nicosia
- Currency
Euro (€, EUR)
- Languages
Greek and Turkish
- Population size
1,189,265
- Ease of doing business
Easy
- Cost of living index
$$$ (36 of 139 nations)
- Payroll frequency
Monthly
- VAT - standard rate
19%
- GDP - real growth rate
3.1 (2019)
The Republic of Cyprus (Greek: Κυπριακή Δημοκρατία; Turkish: Kıbrıs Cumhuriyeti) is a Mediterranean island nation nestled just off the coasts of Israel, Türkiye, 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.
Grow your team in Cyprus with Remote
Want to hire employees in Cyprus? Companies hiring in Cyprus are typically required to either own a local legal entity or work with a global employment platform like Remote that can legally provide employment services in the country.
Remote can employ team members in Cyprus and keep you compliant at all times. Remote can hire, onboard, and pay your Cyprus team so you don't have to set up local HR services in the region. Remote also makes it easy to pay contractors in Cyprus. now to get started or talk to an expert for more details.
Risks of misclassification
Cyprus, like many other countries, treats self-employed individuals or contractors and full-time employees differently. Misclassification of contractors in Cyprus may lead to fines and penalties for the offending company.
Employing in Cyprus
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.
Minimum Wage
The minimum monthly wage in Cyprus has increased to €1,000 gross for full-time employees who have completed 6 months of continuous employment with the same employer, starting from 1 January 2024. The minimum wage for employees who have not completed the 6-month continuous employment period is set to €900.
This minimum wage does not apply to domestic workers, agricultural and livestock workers and shipping workers, as well as to workers for whom the minimum wages in the hotel industry applies.
Payroll Cycle
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.
Onboarding Time
We can help you get a new employee started in Cyprus fast. The minimum onboarding time we need is only 7 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.
14 Public holidays
Want to see and manage all holidays? Sign up for our free HRIS!
Effortless HR Cyprus: Take the Tour
Competitive benefits package in Cyprus
At Remote, we’re passionate about helping you craft the best possible employee experience for your team. We are leading the way in developing globally competitive benefits programs. This means making sure employees everywhere have access to both the required and supplemental benefits they need to thrive, and your company has the localized expertise needed to attract and keep the best global talent.
Our benefits packages in Cyprus are tailored to fulfill the local needs of employees. Typically, our packages contain some or all of the following benefits:
Health Insurance
Dental Insurance
Vision Insurance
Mental Health Support
Pension or 401(K)
Life and Disability Insurance
Fair Pricing in Cyprus
Employer of Record
$599
per employee/month
Top features
Hire without opening a local entity
Guided onboarding
Local payroll paid on time, every time
Built-in security and compliance
Flexible, localized benefits
Offer equity incentives with tax assistance
Dedicated experts for local support
Contractor Management
$29
per contractor/month
Top features
Only pay for contractors you actively work with
Work with international contractors
Create, edit, and sign tailored, localized contracts
Approve contractor invoices with one click or auto-pay
Transparent payments with complete visibility
Payroll
$29
per employee/month
Top features
Powerful, transparent international payroll
Simple self-service platform
Personalized support from dedicated specialists
Adhere to local payroll regulations in every country
Integrated payroll, expense management, and HRIS solution
Top features
Guided onboarding and offboarding
Employee profile and document management
Contract templates and e-signing
Time off and time tracking
Expense management
Employee and manager self-serve experiencea
Mobile app