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* Playroll continues to analyse immediate opportunities and fulfilled roles by recruitment partners, contractors and employers to identify in-demand jobs.
Cyprus's convenient tax structure and reliable economic stability make it an excellent location for international operations.
A significant number of Cypriot people have completed postsecondary education, contributing to a highly educated and talented labour population.
Cyprus is strategically located at the crossroads of Europe, Asia, and Africa. This geographical advantage can be beneficial for businesses involved in international trade or seeking a central location for operations.
English is widely spoken and used in business in Cyprus. Additionally, many Cypriots are multilingual, with proficiency in languages such as Greek and often other European languages.
In Cyprus, the Labour Law does not require employment contracts to be in written form. However it is compulsory for employees to receive a written statement detailing their obligations, encompassing all aspects of the job. The key components included in the contract include:
Employees undergo a minimum six-month probation period where employers can terminate them without giving a reason. This period can be extended up to two years if there's a written agreement between the employer and the employee at the start of the job.
The working hours in Cyprus differ across various employment sectors and are subject to collective agreements, with the majority of employees typically working between 38 and 40 hours per week.
The weekly maximum working hours in Cyprus is set at 48, encompassing any overtime. Although there are no legal regulations governing compensation for overtime work in Cyprus, it is typically determined through individual or collective agreements.
The current minimum monthly wage in Cyprus stands at 885 EUR . As per legal regulations, it is mandated to rise to 940 EUR per month after completing six months of employment.
Although not a must, it is a common practice to provide employees with a 13th salary in December
The personal income tax in Cyprus varies between 0% and 35%, and it is determined based on progressive rates. Various factors, including household status and the number of dependents, can influence the overall tax rates.
If one is insured in Cyprus through employment, self-employment, or voluntary coverage, they can receive an old-age pension at 65. To qualify, they need to meet certain insurance conditions. The monthly social pension is 81% of the full basic statutory pension and is paid by the Social Insurance Fund.
The tax-related information provided in this guide is intended for general guidance and informational purposes only. Reach out to our dedicated team for insights on remote hiring in Cyprus tailored to your needs.
Employment contracts may be terminated based on valid reasons. Termination without notice may also occur in situations involving a breach of the employment contract. The reasons for termination include but not limited to:
Notice periods are contingent on the duration of an employee's tenure with the employer. The breakdown is as follows:
Severance pay entitlements is determined by the employee's duration of service with the employing organization. The scale is structured as follows:
In Cyprus, public holidays that happen to fall on the weekend are typically not carried over or observed.
Employees are automatically covered by a Social Insurance Fund, providing cash benefits for various situations like marriage, maternity, sickness, and more.
Legal and compliance experts are readily available to provide guidance and case-by-case Q&A support.
By leveraging dedicated support from in-house legal and compliance experts for case by case questions and more.
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