Net salary in Cyprus

Tax system in Cyprus

Cyprus has 5 income tax brackets from 0% to 35%, with the first 19,500 EUR tax-free. Employee social insurance is 8.8%, capped at 62,868 EUR/year. The 50% exemption regime for new residents is one of Europe's most attractive expat tax incentives, offering a 50% income exemption for 17 years on employment income exceeding 55,000 EUR. Cyprus also has no wealth tax, no inheritance tax, and favorable dividend taxation. Limassol and Nicosia have growing international business communities.