Cyprus

Living and Working in Cyprus

Cyprus is a popular location for international consultants, contractors and expatriate workers, and there is a sizeable expatriate community who have moved here with their families. As a former British colony, English is fluently spoken by about 90 per cent of the population, and all major infrastructure, roads and towns are signposted in English and Greek. With a lower cost of living than the most of Europe, an excellent climate, an English public school system (from pre-school to A level) and one of the lowest crime rates in Europe, it is not difficult to see why Cyprus is an excellent place to work and bring up a family.

On the Ist May 2004 Cyprus joined the European Union, a historic event that has firmly put Cyprus on the map of Europe. EU accession will bring many benefits to Cyprus, both economically and socially, and it now means that EU nationals can live and work in Cyprus without the need for work permits or currency restrictions. While the cost of living is lower, it must be taken into account that salaries are often lower than other European countries. However, out of the ten new member countries that joined the EU, Cyprus has the highest GDP and income per head of population.

With EU membership, Cyprus is ideally placed for international companies trading in eastern Europe and the Middle East and it currently enjoys the lowest corporate tax rate in the EU (10 per cent). This coupled with the fact that Nicosia, the capital, ranks as one of the least expensive of the leading international business centres to run and operate a business, will also make Cyprus an attractive destination for the international business community.

Health care in Cyprus is also inexpensive, since every town has its own hospital, where fees are lower than other EU countries. However, for those who prefer private treatment, there are a number of private clinics with highly trained specialist physicians in all fields, the majority of whom have trained and worked in the U.S. and Europe.

Population 771,657
Statutory Minimum Monthly Wage (€) 546
Weekly Working Hours 40.1
Unemployment 4.4%
Statutory Retirement Age - men 65, women 65
Trade Union Membership 70%
Labour Force by Occupation
Greek Sector - Agriculture 5%, Industry 22%, Services 73%.
Turkish Sector - Agriculture 20.8%, Industry 22.8%, Services 56.4%.
Key Industries - Food, Beverages, Textiles, Chemicals, Metal Products & Tourism
Cost of Living Index (EU15 = 100) 83
Age Structure - 0-14yrs 21.9%, 15-64 yrs 67% and 65+yrs 11.1%
Ethnic Groups - Greek 85.2%, Turkish 11.6%, Other 3.2%
Religions - Greek Orthodox, Muslim, Maronite, Armenian Apostolic, Other.

If you would like more information on living and working in Cyprus, please contact our Cyprus office on 00357 22 817817 or click on the links below:

Cyprus Government - English

Cyprus Weekly Newspaper

Cyprus Tourist Board