Cyprus Employment Law and Taxes
Practical guide for employers and employees (Cyprus)
Disclaimer: This document is for general information only and does not constitute legal or tax advice. Rates and rules can change. Always confirm with a licensed accountant/payroll provider or legal advisor.
A. Employment Setup and Legal Basics
1. Written terms / Employment contract
Employers should provide written terms of employment. A contract (or written statement of terms) typically includes:
- Employer and employee details
- Job title and duties
- Start date and duration (if fixed‑term)
- Working hours and work pattern
- Gross salary, payment frequency, and any allowances/benefits
- Annual leave and other leave entitlements
- Notice period and termination terms
- Any collective agreement/sector rules that apply
2. Employer registration and employee declaration
- Register as an employer with the Social Insurance Services and obtain an employer registration number.
- Ensure the employee has a Social Insurance Number.
- Declare the employment through the competent national employment declaration system.
- Maintain employee records (ID details, job role, salary, working time records where required).
3. Payslips, payroll records, and payment
- Pay wages on the agreed date (typically monthly).
- Provide a payslip showing: gross pay, deductions, employer/employee contributions, and net pay.
- Keep payroll documentation and employment records for the legally required retention period.
4. Gross vs net salary
Gross salary is the amount agreed in the contract before deductions. Net salary is what the employee receives after statutory deductions (typically Social Insurance, GESY, and PAYE income tax).
B. Payroll Deductions and Employer On‑Costs
Employers usually pay additional contributions on top of gross salary. Rates may vary by sector and employee status.
1. Typical employer contributions (indicative rates)
- Social Insurance – Employer ~8.8%
- GESY – Employer ~2.9%
- Social Cohesion Fund – Employer ~2.0%
- Redundancy Fund – Employer ~1.2%
- Industrial Training / HR Development Fund – Employer ~0.5%
- Holiday Fund (where applicable) – Employer Sector‑dependent
2. Typical employee deductions (indicative rates)
- Social Insurance ~8.8%
- GESY ~2.65%
- PAYE income tax – Progressive (see Section C)
C. Taxes in Cyprus (Effective from 1 January 2026)
1. Personal income tax (employees)
- €0 – €22,000: 0%
- €22,001 – €32,000: 20%
- €32,001 – €42,000: 25%
- €42,001 – €72,000: 30%
- Over €72,000: 35%
Employers typically withhold PAYE income tax each pay period and remit it to the Tax Department.
2. Corporate income tax (companies)
The standard corporate income tax rate in Cyprus is 15%, subject to exemptions and specific rules.
3. Common related taxes (summary)
- Special Defence Contribution (SDC)
- Capital Gains Tax (CGT)
- Withholding tax in cross‑border scenarios
D. Core Employee Rights (High‑Level)
- Annual leave entitlement (statutory minimums)
- Public holidays and holiday pay rules
- Sick leave
- Maternity, paternity, and parental leave
- Working time, rest breaks, and overtime arrangements
- Equal treatment and anti‑discrimination protections
