Payroll in Cyprus runs in EUR (Euro). Monthly payroll cycle is standard practice. No statutory 13th-month bonus is mandated, though a 13th-salary payment is common market/collective agreement practice in some sectors. Statutory employer contributions apply. Gracemark operates it end-to-end, humans, not tickets.
Standard workweek is 40 hours (8 hours/day, 5 days), with overtime governed by employment contract or collective agreement terms.
Minimum wage
Statutory minimum wage is EUR 1,000/month (rising to EUR 1,100 after 6 months of employment) as set by the 2023-effective Minimum Wage Order.
13th-month
No statutory 13th-month bonus is mandated, though a 13th-salary payment is common market/collective agreement practice in some sectors.
Employer cost
Employer contributions total approximately 8.8% to Social Insurance plus 2.0% Social Cohesion Fund, 1.2% Redundancy Fund, 0.5% Industrial Training Fund and 2.9% GESY (General Healthcare System), together funding pensions, unemployment, redundancy and healthcare.
Probation
Probation periods are commonly set up to 6 months (extendable to 24 months by agreement) under Cypriot employment practice.
Notice period
Notice periods scale with length of service (1 week to 8 weeks); statutory severance is payable via the Redundancy Fund for qualifying redundancy dismissals after 2+ years of service.
Two ways to run payroll in Cyprus
Own-entity payroll
For long-term presence in Cyprus. Gracemark manages statutory filings, pay runs, and year-end reporting under your entity, with a named operator on Southern Europe time.
EOR-run payroll
No entity in Cyprus? Employ and pay talent under Gracemark's local infrastructure via EOR, onboard in typically 1–3 weeks via eor, no local incorporation.
Compliance essentials in Cyprus
Employment model: EOR vs. contractor vs. local entity for Cyprus
Mandatory benefits, social contributions and any 13th-month obligation
Termination rules, statutory notice and severance exposure
Contractor misclassification risk and how local law defines employment
Currency (EUR), payroll cycle and Greek-language contract requirements
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