Human Talent

Cyprus possesses a well-trained and versatile labour force. Qualified professional, technical and clerical staff, with wide experience and fluency in English and other languages are available for employment at reasonable remuneration.

Economically active population

According to Eurostat’s Labour Force Survey, Cyprus exhibits an employment rate of 68,5% for the age class 15-64; the rate is the highest among the new ten EU member states and above the average employment rate of the EU 15 (65,2%). This rate positions Cyprus in line with the EU/s Lisbon target of 70% by 2010. The tertiary sector for the provision of services accounts for the largest ...

Labour legislation

Legislation provides for uniform minimum wages for a limited number of specific occupations: clerical workers, sales staff and shop assistants, auxiliary healthcare staff, auxiliary staff in creches, nurseries, and schools. The minimum wage on recruitment for year 2006 was €656, while that for staff completing six consecutive months of employment with the same employer was set to €697. ...

Labour relations

Since Cyprus’s accession to the EU, the European Union’s legislation framework regarding labour regulations has been adopted. The Cyprus labour market has a tradition of social dialogue and a well-developed institution of free collective bargaining. Terms and conditions of employment are negotiated either directly between the employer and the employee or through collective bargaining between ...

Social Insurance

The participation to the social insurance scheme is mandatory for all gainfully occupied population in Cyprus either as employed or self-employed; employers are liable to contribute 6,3%, employees an additional 6,3% and the Government 4%, summing up to a total contribution of 16,6%. In the case of self-employed persons, 11,6% is contributed by the self-employed and 4% by the Government, summing ...