What is a good salary in Cyprus?

The salary range in Cyprus can vary between 550 EUR/month (lowest) to 9,660 EUR (highest salary average). However, these are average figures, and the actual maximum salary may be higher.

What is a good salary to live in Cyprus?

The average sum a single person would need to live in Cyprus for a month is €1,800—2,000 including rent. A family of four would require at least €4,500 per month including rent. Read on to learn how much housing, food, transportation, and healthcare services cost in Cyprus.

What are the best paying jobs in Cyprus?

How much is monthly salary in Cyprus?

What is average wage in Cyprus? Average Wages in Cyprus decreased to 2250 EUR/Month (2387.015 USD/Month) in the second quarter of 2023. The maximum rate of average wage for employees was 2296 EUR/Month and minimum was 1360 EUR/Month.

What is a low salary in Cyprus?

The current minimum wage in Cyprus is €940.00 per month in 2023. It became valid on January 1, 2023. The amounts are in Euro. The amounts are before tax.

Salary in Cyprus 2021

Why are salaries so low in Cyprus?

The combination of crony capitalism and financial capitalism practised in Cyprus has resulted in favours and generous bank treatment being given to the connected business “elite” as well as making the country a low value-added and wage economy that has enabled many inefficient (Zombie) businesses to survive and reap ...

What is the average household income in Cyprus?

The average median household income (PPP) was $40,094 in 2021. Cyprus' median household income (PPP) hit $63,452 in 2021, an increase of 1.3% over the previous year. Between 2010 to 2021, Cyprus median household income (PPP) increased by 6.7%.

How much money do you need for a week in Cyprus?

If you're looking to travel to Cyprus on a self-catering basis, make sure you allocate around £45 per person per day to this if eating out for all meals, so around £315 per person per week. For better overall value, consider going all-inclusive.

How many hours is a full time job in Cyprus?

This can vary per industry but is within the limits of 38-40 hours and overtime is generally paid. It gives a lot of employees the opportunity to maintain a good work-life balance and unwind earlier than in other European countries. In Cyprus, you will not pay an income tax if you receive less than €19,500 a year.

What is the main source of income in Cyprus?

The services sector, including tourism, contributes almost 80% to GDP and employs more than 70% of the labor force. Industry and construction account for approximately one-fifth of GDP and labor, while agriculture is responsible for 2.1% of GDP and 8.5% of the labor force.

What is the most wanted job in Cyprus?

What is the average gross salary in Cyprus?

Wages in Cyprus averaged 1863.50 EUR/Month from 2003 until 2023, reaching an all time high of 2535.00 EUR/Month in the fourth quarter of 2022 and a record low of 1360.00 EUR/Month in the first quarter of 2003. source: Statistical Service, Ministry of Finance of Republic of Cyprus.

What is the main occupation in Cyprus?

Jobs in Cyprus

Of its 1,260,138 population, over 450,000 are part of the labour force in Cyprus. The tourism industry accounts for the largest part of the country's GDP and international workers can usually find opportunities in this sector. Other major industries include: food and beverage processing.

Is it cheaper to live in Cyprus or UK?

Comparing Costs of Living in Cyprus vs the UK

Numbeo collates average national living costs and reports that in Cyprus: Consumer goods cost 10.08% less than in the UK. Rental properties are 16.58% less expensive. Restaurant charges in Cyprus are 17.78% lower.

How much money do you need in the bank to move to Cyprus?

You have proof you purchased the property with funds from outside Cyprus. You have an annual income of at least €30,000 and receive it outside Cyprus. You will deposit €30,000 in a Cypriot bank account, which will be frozen for three years. You will enter Cyprus at least every two years.

Is it a good idea to move to Cyprus?

Compared to other EU countries, the crime rate in Cyprus is lower. Along with safety, Cyprus offers other benefits for those who decide to move to the island: high-quality healthcare, an affordable cost of living, a large expat community, and short times of obtaining a residence permit.

Which city is best for work in Cyprus?

Limassol, the second-largest city, is a hub for the maritime and financial industries. Larnaca, with its bustling tourism sector, provides employment opportunities in hospitality and travel. Paphos also offers diverse job prospects, particularly in tourism, real estate, tech and gaming.

How many sick days does Cyprus have a year?

Employees can take sick leave of up to 156 days. An employer is not obliged to pay for the initial three days of sick leave. Employers are not required to pay for any sick leave. The Social Insurance Fund covers remuneration for sick leave.

How many days off in Cyprus?

Paid Time Off

Employees who have worked 48 weeks within one year are entitled to paid annual leave of four weeks. Employees, who work 5 days a week, are entitled to an annual leave of 20 working days, whereas employees who work 6 days a week, to annual leave of 24 working days.

Is it expensive to eat out in Cyprus?

Prices are similar to home but you can make it as cheap or expensive as you want, we budget 70-80 euros a night for a meal and drinks in a decent restaurant, the dining is not rushed and the service is usually very good and friendly, you can get a pint of Keo for around 3 euro but if you want proper beer you will be ...

Can you spend English money in Cyprus?

However, if you're travelling from the UK you'll have to exchange your pounds sterling for Euros. Should I change up before I go? Cyprus' banks and ATMs accept all of the major credit (and some debit) cards, including Visa, MasterCard, and American Express.

Is Cyprus cheap to retire to?

Low cost of living³.

Cyprus is cheaper than the UK across nearly all spending categories, so your retirement savings will go further here. For example, a three-course meal in Cyprus costs around £43 for two people, whereas it's £50 in the UK.

Where do millionaires live in Cyprus?

Peyia has countless beautiful, million euro homes for sale and recent purchases show that there is no shortage of buyers. Few people associate the words 'small town' with the words 'million euro villa' but in the case of Peyia, a small quiet town, million euro hillside homes are incredibly common.

How many British live in Cyprus?

Statistics by the Cyprus Ministry of Finance state that approximately 60,000 – 90,000 UK citizens live permanently in Cyprus with 30,000 – 40,000 of them living in the district of Paphos (mostly residing in Pegeia, Polis Chrysochous, Tala, etc).