Cyprus continues to attract professionals from around the world with its favorable working environment and tax-friendly policies. Here's a comprehensive overview of the salary structure and tax rates on the island in 2025:
Average and Minimum Salaries
The average monthly salary in Cyprus stands at approximately €2,000. After deducting taxes, an individual typically takes home around €1,700. The minimum wage is set at €870. Statistics reveal that about 50% of the Cypriot workforce earns between €1,000 and €1,500 monthly.
Estimated Salaries by Profession
The salaries vary significantly based on profession and industry. Here's a breakdown of estimated earnings for some common roles:
- Bank Employee/Accountant: €2,000
- Doctors (Therapists, Surgeons): Up to €9,000
- Dentists: €5,000
- Nurses: €1,700
- Engineers: €2,000–€3,000
- Programmers/IT Professionals: €2,000–€3,000
- Hospitality Roles (Waiters, Animators, Cooks, Bartenders): €800–€1,200
Cyprus’ Tax Policy
One of the key reasons Cyprus remains attractive to foreign workers is its low tax rates and a transparent tax system. Taxation rates in Cyprus depend on annual income, as outlined below:
- Up to €19,500: 0%
- €19,501–€28,000: 20%
- €28,001–€36,300: 25%
- €36,301–€60,000: 30%
- Above €60,001: 35%
Why Cyprus Appeals to Foreign Workers
The Cypriot government’s approach to taxation is designed to attract skilled foreign professionals. The combination of low taxes, competitive salaries, and a high standard of living makes Cyprus a preferred destination for many.
Whether you're considering moving to Cyprus or exploring career opportunities on the island, understanding the salary expectations and tax implications can help you make informed decisions about your financial future.