Work
Whether you are losing a job or working for yourself, the amounts follow rules. Work out your Redundancy Fund compensation and minimum notice, or see what you keep as a self-employed person after all contributions.
Calculators
Good to know
- 1Redundancy pay is 2 to 4 weeks per year of service, capped at 75.5 weeks.
- 2Minimum notice starts at 1 week after 26 weeks of service and rises to 8 weeks.
- 3The self-employed pay 16.6% social insurance on their income, no lower than the occupation's minimum insurable amount, plus 4% GESY.
Frequently asked questions
How much redundancy pay am I entitled to in Cyprus?
Between 2 and 4 weeks of pay per year of service, with the rate rising as your service lengthens, capped at 75.5 weeks in total. The payment comes from the Redundancy Fund rather than directly from the employer.
How much notice must I be given?
Minimum notice starts at 1 week after 26 weeks of continuous employment and rises in steps to 8 weeks for the longest service. Your contract can provide for a longer period, never a shorter one.
What does a self-employed person pay in Cyprus?
Social insurance at 16.6% on income, never below the minimum insurable amount set for your occupation, plus GESY at 4%. On top of that comes income tax under the same bands that apply to employees.
Why does the minimum insurable amount matter?
Because your contributions are not worked out below it, even when your actual income is lower. Each occupation has its own minimum, so two self-employed people on the same income can pay different contributions.