All About Offering Employee Benefits in Cyprus
Hire the best talent in Cyprus with the information you need to offer a competitive benefits package and stay compliant.
Required Benefits in Cyprus
Labor laws in Cyprus require employers to follow requirements for paid annual leave, public holidays, social insurance contributions, maternity protections, and termination safeguards. Luckily, Justworks EOR helps you navigate these requirements to support compliant employment practices.
Social Security
Employers and employees in Cyprus are required to contribute to Cyprus' Social Insurance Fund. Contribution rates are set by law and apply to earnings up to the maximum income threshold. Contributions fund a range of benefits, including:
Old-age pension
Unemployment benefits
General Healthcare System
Sick leave
Maternity benefits
Paternity leave
Time Off
The statutory minimum annual leave in Cyprus is based on a standard 40-hour work week. To qualify for the full entitlement, the employee must have worked at least 48 weeks within the year. This translates to 21 working days for a five-day workweek or 24 working days for a six-day workweek. All leave entitlements are established in the Annual Holidays with Pay Law.
Offer Competitive Benefits
While statutory benefits form a baseline, many employers enhance their benefits offering to attract and retain top talent in Cyprus.
Private Health Insurance
Many employers provide access to private health insurance to supplement public General Healthcare System (GHS) coverage and give employees more choice.
Retirement Contributions
Employers may offer voluntary provident funds or supplemental pension plans to support employees' long-term financial security.
Additional Perks
Competitive employers may offer additional benefits, such as meal allowances, transportation stipends, flexible work arrangements, or access to wellness programs.
Ready to Offer Benefits in Cyprus?
Justworks makes building your global team seamless by helping you access localized support to attract top talent in Cyprus. Simplify international hiring today.
