Find your employer of record in Cyprus

Cyprus famous place - EOR World Wide
Cyprus - EOR World Wide

Cyprus

currency

Euros (EUR)

Currency

Payroll_Frequency

monthly

Payroll Frequency

Employer_Tax

0% to 22.90%

Employer Tax

With 2 clicks, start your journey to Hire a contractor or remote employees in Cyprus without a entity set up.

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Overview

Capital

Currency

Date Format

Fiscal Year

Reviews

Nicosia

Euros (EUR)

DD/MM/YY

January 1st-December 31st

0 / 5 Star (0 Reviews)

Cyprus famous place - EOR World Wide

Find your employer of record in Cyprus

Cyprus

currency

Euros (EUR)

Currency

Payroll_Frequency

monthly

Payroll Frequency

Employer_Tax

0% to 22.90%

Employer Tax

Overview

Capital

Currency

Date Format

Fiscal Year

Reviews

Nicosia

Euros (EUR)

DD/MM/YY

January 1st-December 31st

0 / 5 Star (0 Reviews)

0

With 2 clicks, start your journey to Hire a contractor or remote employees in Cyprus without a entity set up.

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Local Providers

We can Determine the top Payroll solutions in Cyprus locally for you

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PEO / EOR providers

Overview

Euros (EUR)

CURRENCY

Nicosia

CAPITAL

monthly

PAYROLL FRECUENCY

14

PUBLIC HOLIDAYS

0% to 22.90%

EMPLOYER TAXES

13TH / 14TH SALARY

The 13th Salary in this region is usual and typically given at the end of the year.

Employee and employeer taxation in Cyprus

Employer

Company Payroll Contributions

0% - 8.3%

Social Security (maximum annual contribution of EUR 58,080.00)

0% - 2%

Social cohesion

0% - 1.20%

Redundancy

0% - 0.50%

Training and Development

0% - 2.90%

National Health System (NHS)

0% - 8.00%

Vacation Fund (if not exempt)



0% - 22.9%

Total Employment Cost

Employee

Employee Payroll Contribution

0%- 8.30%

Social Security

0%- 2.65%

National Health System (NHS)


0% - 10.95%

Total Employee Cost



Employee Income Tax in Cyprus

0%

Employment Income Tax: Up to EUR 19,500.00

20.00%

Employment Income Tax: EUR 19,500.00 – EUR 28,000.00

25.00%

Employment Income Tax: EUR 28,000.00 – EUR 36,300.00

30.00%

Employment Income Tax: EUR 36,300.00 – EUR 60,000.00

35.00%

Employment Income Tax: EUR 60,000.00 and More

Cyprus famous place - EOR World Wide
Cyprus famous place - EOR World Wide
Minimum Wage in Cyprus
Cyprus famous place - EOR World Wide

Payroll Contributions in Cyprus

Payroll Cycle

In Cyprus, the employer must pay the payroll to the employees usually on the last working day of the month. Also, by hiring an Employer of Record in Cyprus you can pay the payroll cycle easily and efficiently.

13th Salary

The employer pays the Cypriot workers a salary for Christmas bonuses out of custom since this is not an obligation.

Employee Benefit in Cyprus

Visa and work permit in Cyprus

Employers of foreign nationals in Cyprus have various alternatives under the Cyprus immigration system. Cyprus is a European Union member. The requirements, processing dates, work eligibility, and perks for accompanying family members differ depending on the kind of permission.


If they are not visa-exempt due to their nationality, business travellers must get a business visa to go to Cyprus. Business trips are restricted to 90 days in 180 days and must be accompanied by a thorough support or invitation letter explaining the type and length of activity.


The two main work authorization categories are the EU Intracompany Transferee (ICT) Permit, which is appropriate for the intracompany transfer of managers, specialists, and trainees from outside the EU, and the Employment Permit for Local Hires, which is appropriate for locally hired employees and intracompany transfers who do not qualify for an EU ICT Permit.

VAT in Cyprus

In Cyprus, the standard rate is 19%.

Working Hours in Cyprus
General

In Cyprus, the schedule consists of 44 hours in a total of 5 days but there can also be a 6-day work week. Also, if an employer wishes to increase working time, they must obtain written permission from their employees.

Overtime

Overtime is all those in which the employee works outside the established hours. In addition, employment contracts or collective agreements are the ones that regulate these hours. In the same way, overtime consists of a maximum of 48 hours, in a period of 4 months.


Likewise, when exceeding 40 weekly hours, the employer will pay a compensation rate according to the contract or collective agreement.

Working Week

Monday to Friday.

Employee Termination in Cyprus
Termination Process

For the management of the dismissal processes, you can hire contractor management services. In this case, an employer can terminate a contract for the following reasons:


  • Misconduct of the worker.
  • Business.
  • Staff.


Likewise, the employer must present the reason for the dismissal in writing. In addition, if the dismissal is for misconduct, the worker will receive a warning and have the right to explain his conduct. In the same way, the employer must cancel the severance and compensation of legal obligations, such as paid time off.

Notice Period

In Cyprus, the notice period for a temporary or permanent worker depends on the worker's time in employment. Thus, with an international PEO, you will manage the advance notices in the company established as follows:


  • From 26 to 51 weeks of employment, notice is 1 week.
  • From 52 to 103 weeks of employment, notice is 2 weeks.
  • Between 104 and 155 weeks of employment, notice is 4 weeks.
  • If it is between 156 and 207 weeks of employment, the notice is 5 weeks.
  • With 208 to 259 weeks of employment, notice is 6 weeks.
  • From 260 to 311 weeks of employment, notice is 7 weeks.
  • Of 312 weeks or more, the notice will be 8 weeks.


A worker who has committed a serious infraction in the company will not receive prior notice.


Severance Pay

Severance pay can be arranged by an Employer of Record in Cyprus. Likewise, the employer must pay them according to the duration of a worker in employment:


  • For each year of employment of up to 4 years, there are 2 weeks of compensation.
  • Between 5 and 10 years of employment is 2.5 weeks of salary.
  • For each year between 11 and 15 years of employment is 3 weeks of salary.
  • For between 16 and 20 years of employment, it is 3.5 weeks of salary.
  • And for every year for 20 years of employment that is 4 weeks of salary.

Probation Period

With Global Employment Outsourcing, you can hire and onboard workers for your business. Likewise, the probation period for new hires will depend directly on the type of work and employment contract. Besides, these periods are usually between 6 months and 2 years depending on the position to be held.

Employee Leaves in Cyprus
Paid Time Offs

Pay for annual vacations by contracting international PEO services, these depend on the years of service of the employee. Therefore, the employer must pay for these vacations as follows:


  • For an employee who works 5 days a week, the leave will be 20 days a year
  • For employees who work 6 days a week, the leave will be 24 days a year.


Furthermore, any additional leave must be described in the employment contract or collective agreement. Likewise, an employee is eligible for leave if they have completed 48 weeks with the same employer. However, he may or may not approve the request according to the labor necessity of the company.

Cyprus famous place - find your EOR
Public Holidays

There are 14 national holidays throughout the year.

Vacation Holidays

There are 20 vacation holidays throughout the year.

Sick Days

Cypriot employees are entitled to sick leave paid by Social Security from the 4th day of leave. Similarly, the worker must submit a medical certificate to the Social Security Administration within 48 hours of illness.

Paternity Leave

In the case of fathers, they are entitled to two weeks of paid leave for the 16 weeks that follow the birth of the child. With a registered Employer, you can pay it, in addition to the Social Security Fund, 75.20% of the regular salary will be canceled.

Paternal Leave

This license is granted to workers with children under 8 years of age. Thus, with payroll outsourcing, you will be able to manage this leave for eligible employees. Likewise, the employee can take unpaid leave for each child, which can be up to 18 weeks.


Other Leave

Depending on the employment contract or collective agreements, an employee may request additional types of leave. These can be managed through an Employer of Record in Cyprus and occur in the following circumstances:


  • Due to bereavement. In the event of the death of a close relative, the paid bereavement leave is 5 days.
  • By adoption. The leave for employees who want to adopt a child under 12 years of age is 16 continuous weeks. Also, these must be fulfilled by the employee at the time the childcare begins.
  • Military service. A worker who must comply with military service will be covered by the Social Security service through assimilated insurance.

Maternity Leave in Cyprus

An Employer of Record in Cyprus can help you manage maternity leave at your company. Similarly, in Cyprus, female workers enjoy a right to maternity leave of 18 weeks. However, this leave increases to 22 weeks if the worker has twins and to 26 weeks in the case of triplets.


In the same way, maternity leave of 11 weeks before delivery is mandatory, and the rest afterward. In addition, workers must present a medical certificate of pregnancy that must include the approximate date of delivery.

There are 126 leave throughout the year.

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