How much is social insurance in Cyprus?

As of 1 January 2019, the employees’ own contribution to the state-administered social insurance fund is 8.3% of their gross remuneration, with a maximum annual cap on insurable emoluments as of 1 January 2021 of EUR 57,408. The rate of 8.3% applies for both employee and the employer up to 31 December 2023.

How much is self-employed Social Insurance in Cyprus?

Social insurance contributions

Social insurance rate for self-employed individuals in Cyprus is 15.6%. However, note that this 15.6% is multiplied on your ‘estimated earnings’, not your actual earnings.

Do I have to pay social insurance in Cyprus?

Every employee in Cyprus is compulsorily insured under the Social Insurance Scheme. The compulsory insurance falls into two categories: employees and self-employed.

How much is national insurance in Cyprus?

National Health Insurance System

Category As from 1 March 2019 As from 1 March 2020
Employees 1.70% 2.65%
Employers 1.85% 2.90%
Self-employed 2.55% 4.00%
Income earners (e.g. rents, interests, dividends) 1.70% 2.65%
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What is social insurance Cyprus?

The Social Insurance Scheme covers compulsorily every person gainfully occupied in Cyprus either as an employed person or as a self-employed person. … The Scheme provides cash benefits for marriage, maternity, sickness, unemployment, widowhood, invalidity, orphanhood, old age, death and employment injury.

Can I be self employed in Cyprus?

All you have to do is register as self employed in Cyprus or sign up as a well-to-do person. What makes the option to register as self employed there even more interesting is its low cost.

How much is income tax in Cyprus?

Personal Tax rates.

Taxable Income Rate Amount
Taxable Income €19.501 – €28.000 Rate 20% Amount €1.700
Taxable Income €28.001 – €36.300 Rate 25% Amount €2.075
Taxable Income €36.301 – €60.000 Rate 30% Amount €7.110
Taxable Income €60.000 – €100.000 Rate 35% Amount €14.000

How many years do you have to work in Cyprus to get a pension?

Statutory pension

Miners can receive a pension at the age of 63 provided they have worked in a mine for at least 3 years; and they are entitled to a one-month reduction in the retirement age for every 5-month period they worked in a mine on condition that they are no longer engaged in that activity.

What benefits can I get in Cyprus?


  • Family. Child benefit. Maternity benefits.
  • Health. Healthcare. Long-term social care.
  • Incapacity. Benefits for employment accidents and occupational diseases. Sickness benefit. …
  • Old-age and survivors. Statutory pension. …
  • Social assistance. Guaranteed minimum income benefit. …
  • Moving abroad. Aggregation of insured time.

What is the minimum pension in Cyprus?

She explained that the minimum state pension today is €359 while those on the social pension receive €341. These allowances have been raised for low-income pensioners so, in combination with their pension, no one will receive less than €710 per month.

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How can I check my social insurance record?

You can confirm the SIN of a current or former employee by contacting Service Canada at 1-866-274-6627. If calling from outside Canada, dial 506-548-7961 (long distance charges apply).

What are social insurance contributions?

Contributions to Social Insurance

For employees, it is based on their individual earnings in covered employment. The OASDI rate is 6.2% of covered wages up to the taxable wage base, or cap, which is $132,900 in 2019. The HI rate is 1.45% of covered wages with no wage cap.

How much is child benefit in Cyprus?

Table Α: Amount of Child Benefit for 2019

Annual benefit per child, by the number of children in the family, in €
0 – €19,500.00 482.17 1,060.78
€19,500.01 – €39,000.00 431.42 1,010.02
€39,000.01 – €49,000.00 385.74 771.48
€49,000.01 – €59,000.00 700.42 *

How much is unemployment benefit in Cyprus?

Unemployment Benefit for Cyprus

Unemployment benefits are calculated to be equal to 60% of the average weekly basic earnings that you paid contributions for in the last year. If you have dependants, the benefits are increased to 80%, 90%, and 100% for 1, 2, and 3 dependants respectively.

How do I pay my social insurance online in Cyprus?

Social insurance payments can on the internet via the department’s online Contributions Payment System known as SISweb.

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