Social Security System in Cyprus: What You Need to Know

Jobs and Social Security in Cyprus for Foreign Workers

Labor benefits for foreign workers:

Labor contract: Stipulating working conditions, wages, holidays, vacations, insurance …

Wage: Based on contracts, labor laws, international treaties and mutual agreements.

Social insurance: Contribute 20.2% of total income, divided equally between employees, employers and the state.

Trade unions: Workers have the right to join unions.

Health insurance: Compulsory, the cost is divided equally between the employee and the employer.

Public holidays: 9 paid national and religious holidays.

Working hours: Maximum 48 hours/week.

Overtime: Pay at a ratio of 1:1.5 to standard salary.

Sick leave: Leave when certified by a doctor.

Change of employer: Allowed after 6 months of employment with the current employer.

Salary increase: As agreed in the labor contract or mutual agreement.

Income Tax: Applies when annual income exceeds EUR 19,500 (in 2011).

Social Security in Cyprus (Cyprus) for third country citizens

Basic social security benefits for foreign workers in Cyprus:

Sickness and maternity benefits:

Free of charge for civil servants, military personnel, police officers, welfare recipients, dependents, unmarried people with incomes below EUR 15,377.41/year, families with incomes below EUR 30,754.82/year (plus EUR 1,708.60/dependent child).

Copay for people with incomes higher than above.

Occupational accidents:

Allowance from 60% – 100% of the latest year’s premium salary divided into 52 weeks, depending on the degree of injury.

Reimbursement of treatment and rehabilitation costs.

Funeral allowance 507.81 EUR.

Unemployment benefits:

From 60% – 80% of the latest year’s premium salary divided into 52 weeks (basic allowance).

Additional allowance of 50% of weekly insurance premiums.

Orphan Allowance:

Pay the guardian of a child under the age of 15 or unable to work.

Widow Allowance:

Pay to the person living together or financially dependent on the deceased.

Other social security benefits for Cyprus residents

Pension:

A person over the age of 65, who has lived legally in Cyprus for at least 20 years after the age of 40 or 35 years after the age of 18, is not entitled to a pension from another source.

Child allowance:

For families residing in Cyprus who meet income and economic criteria (total assets not exceeding EUR 1,200,000).

Social Security System in Cyprus: 3 Outstanding Benefits

Cyprus is not only attractive because of its beautiful natural landscape and mild climate but also because of its outstanding social security system, which offers a high quality of life for its citizens and immigrants. Here are 3 outstanding social security benefits in Cyprus:

1. Advanced education system

British standard education model: The education program in Cyprus is built according to British standards, ensuring comprehensive and world-class education quality.

Tuition waiver for children: Children between 4 and 15 years old are exempt from tuition fees in public schools (but may vary slightly depending on the specific school or policy). Although tuition fees are waived, parents still have to pay other fees such as uniforms, books, extracurricular activities …

Modern learning environment: School facilities are well-invested, fully equipped with modern classrooms, laboratories, swimming pools …

English – Cyprus bilingual: Public schools speak parallel languages

2. Europe’s leading healthcare system:

High quality of healthcare: The Cyprus health system is highly regarded, on par with other developed countries in Europe.

GeSY Universal Health Insurance: The GeSY Universal Health Insurance Program provides high-quality and affordable healthcare to all Cyprus citizens and legal residents.

Free medical examination and treatment: Cypriots are entitled to free medical examination and treatment at public hospitals. (However, medical care is not completely free, and there may be some small copays depending on the type of service and health status of each person.)

Food and drinking water safety: Cyprus strictly controls food and drinking water safety, ensuring public health.

3. “Tax haven” with reasonable living expenses:

Attractive tax incentives: Cyprus has many tax incentives, especially corporate income tax of only 12.5%, the lowest rate in Europe.

Exemption from many types of taxes: No property tax, inheritance tax, real estate transfer fee tax …

Affordable cost of living: The standard of living in Cyprus is quite reasonable, in line with the average income of the people.

With outstanding benefits in education, healthcare, taxes, and living costs, Cyprus deserves to be the ideal destination for those who are looking for a quality and safe life.

Conclude

The Cypriot social security system features free education, high-quality health care and the GeSY universal insurance scheme. Diverse support policies ensure people receive care from education, health to other social problems. Despite some changes, the system remains effective, contributing to improving the quality of life and attracting talented people to Cyprus.