General
We come from the tech world, being a team of entrepreneurs, engineers and tech VCs. We started the Paperclip Operation in February 2022 answering the need of our own companies and our portfolio companies.
The need is very simple – to work on technological exciting global projects. Since we already had activities and live in Cyprus, this was a natural choice.
We are helping people find engineering jobs, and build their teams and companies in new countries. But we also help build lives here – from finding schools to organizing communities, we want people to have a home here.
You can find a bit more info here ==> About Us
Employment
- 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 2022 of EUR 58,080. The rate of 8.3% applies to both employees and employers up to 31 December 2023. Thereafter, the rate will increase every five years until it reaches 10.7% as of 1 January 2039.
- As of 1 January 2019, the contributions of self-employed persons are 15.6% of their income (14.6% for 2014 through 2018). Thereafter, the rate will increase every five years until it reaches 20.4% as of 1 January 2039. The amount of the contributions are subject to a lower and a maximum limit, depending on the profession or trade of the self-employed person. These limits are set on an annual basis.
Contributions to GESY are mandatory. The amounts of contributions are presented in the table (as of October 2022):
| Contributors Categories | Contribution | Explanation |
| Employees (Public and Private Sector) |
2,65% | On their salaries |
| Employers (Including the State as an Employer) | 2,90% | On the salaries of every person employed by them |
| Self-employed | 4,00% | On their remuneration |
| Pensioners | 2,65% | On their pension |
| Income earners (e.g. rent, interest, dividends) | 2,65% | On their income |
The maximum amount paid per person per year is € 180,000.
Same sex couples cannot legally parent a child together in Cyprus. They cannot adopt a child together or be recognised as the parent of a child who was conceived by a female partner through medically assisted reproduction. They are also not eligible to apply for surrogacy.
Maternity benefit starts at 72 per cent of the mother’s salary with the first child. The percentage increases to 80 per cent, 90 per cent or 100 per cent, with the second, third and fourth child respectively.
Paternity benefit starts at 72 per cent of the father’s salary with the first child. The percentage increases to 80 per cent, 90 per cent or 100 per cent, with the second, third and fourth child respectively
Parental leave is not getting paid.
Pregnant workers are entitled to a maternity leave of 18 weeks in total (of which 11 are compulsory and are allocated as follows: two before the week of the expected birth and the rest after birth), provided that the pregnant worker provides the necessary medical certificate that states the estimated date of delivery. 22 weeks for the second child, and 26 weeks for the third (or subsequent) child, including for adoption or surrogacy.
For a period of nine (9) months from birth, or from the day the maternity leave starts in case of adoption, the working mother has the right to either interrupt her employment for one hour or go to work one hour later or leave work one hour earlier every day. It is noted that this hour is considered and paid as working time.
Fathers are entitled to 2 consecutive weeks of paid paternity leave within the 16 weeks following the birth of a child, paid by the Social Insurance Fund at 75.20% of the employee’s regular salary.
The right to parental leave covers all employees who have children under the age of 8. According to the law, every eligible employee can take up unpaid parental leave of up to eighteen weeks for each child.
| Chargeable income for the tax year (€) | Tax rate (%) | Accumulated tax (€) | |
|---|---|---|---|
| 0 | 19,500 | 0 | 0 |
| 19,501 | 28,000 | 20 | 1,700 |
| 28,001 | 36,300 | 25 | 3,775 |
| 36,301 | 60,000 | 30 | 10,885 |
| 60,001 | and above | 35 |
There are special exceptions and deductions for people working in international companies and not being domiciled in Cyprus (like ours for example), but since we are not a tax advising company, we would recommend that you check with our partner company C.X.Financia Ltd. who handles things like this.
Some examples:
- Foreign pension income is taxed at the flat rate of 5% on amounts over €3.420. The taxpayer can however on an annual basis elect to be taxed at the normal tax rates and bands set out above.
- Cyprus source widow(er)’s pension is taxed at the flat rate of 20% on amounts over €19.500. The taxpayer can however on an annual basis elect to be taxed at the normal tax rates and bands set out above.
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Interest, except for interest arising from ordinary business activities or closely related to the ordinary business activities of an individual is exempt.
Pages that will give you a rough estimate of your income tax are:
Salaries are paid at the end of each calendar month. The first salary gets paid at the end of the month you obtained your ARC in, with the employment starting the date you obtain your ARC.
Living and working in Cyprus
Although most foreigners would think that here the Post Office is your best option .. there are at least 2 companies that have offices all around the island and will, for little cost, deliver documents and parcels often on the same day across the island.
The three we most often have seen being used are:
and
The Cyprus kitchen has a long history and combines a lot of other Mediterranean food into its own.
Listed here are some of the more famous dishes
- Halloumi – Traditional Cheese
- Kleftiko – Slow Cooked Lamb
- Trahanosoupa – Trahana Soup
Trahana or Tarhana is a dried cultural product of Bulgur wheat and sour milk or yogurt. The Cypriot usually make it at the end of summer, utilizing the warm weather to dry it out and store it for the colder months. - Hummus – Chickpea paste
- Spanakopita – Spinach Pies
- Talattouri– Cucumber Yogurt Sauce
The Cyprus way of the greek Tzatziki, but with olive oil, lemon, oregano and mint. - Tirokafteri – Spicy Feta Cheese Dip
- Taramosalata – Fish Roe Dip
- Souvla – Barbecued Meat
- Sheftalies – Cypriot Sausage
- Lountza – Cured Tenderloin
- Stifado – Stewed Beef
- Kouneli Stifado – Rabbit Stew
- Avgolemono Soup – Egg-Lemon Soup
- Flaouna – Easter Sweet Pastry
- Daktyla – Lady’s Fingers
- Bourekia – Fried Pastry
This pastry is something you only get in Cyprus. In most places, it is either filled with Anari or with some paste out of cinnamon and sugar. - Koupepia – Stuffed Vine Leaves
- Keftedes – Meatballs
- Tsamarella – Cured Goat MeatTsamarella used to be just a method to retain goat meat but has become a staple in Cypriot lunch recipes nowadays. It originates in the agricultural regions of Cyprus, including Marathasa Valley, Pitsilia, and Pafos, and you can still easily find it here nowadays.
Traditionally, the locals first remove the goat’s bones and let the whole goat dry out in the sun for a few days. Then, they’ll boil the goat in seasoned water and fill it with condiments and herbs. The goat was then placed out in the sunlight for one more day.
The result of Tsamarella is tender and somehow juicier than most cured meat. Besides the use of lunch meat, you can also enjoy it as a drinking bait. In addition, you can also find the lamb version of this delicacy.
- Pastourma – Spicy Cured Beef SausageThere are numerous ways to spell the name of this dish, as well as many etymologicon theories. Still, Pastourma is likely an invention of Ottoman cuisine.
The making process of Pastourma may take up to a month. It requires double pressing, first the cold press, then the hot press, interleaved with drying time. The cooks then cover the beef in a traditional paste made of garlic, red chilli pepper, and fenugreek seeds – called Cemen.
They will then set Pastourma to dry out once again. It’s also well known as a cultural Cypriot breakfast recipe served along with fried egg and Halloumi cheese. Otherwise, you can also use it as drinking bait.
- Afelia – Braised Pork
- Athoi Gemistoi – Stuffed zucchini blossom flowersAthoi are vegan Cypriot zucchini (courgette) flowers which are stuffed with rice, herbs and spices and cooked until the rice is soft.
- Louvi – Black eyed Peas
- Koucha – Broad Beans
Places to find recipes for traditional Cyprus food include:
If you are a citizen of an EU member state, your driving license is valid until it expires.
Driving licenses from the countries listed below are valid for visitors for a maximum of 90 days, or if resident 6 months (one hundred and eighty-five days). Then they must be exchanged for a Cyprus driving license:
- Australia
- Canada
- Georgia
- Iceland
- Japan
- Liechtenstein
- New Zealand
- Norway
- Russia
- Serbia
- South Africa
- South Korea
- Switzerland
- UK
- Ukraine
- United Arab Emirates
- USA
- Zimbabwe
If you are from any other country we suggest obtaining an International Driving Permit (IDP) together with a current valid domestic driving licence. Those are usually valid until the IDP expires, giving you enough time to get a new one in Cyprus.
For more information on driving in Cyprus and everything regarding keeping or obtaining your driving license, please check the “All about driving in Cyprus” site.
The easiest is to follow the events groups on Facebook. Here is a first list you can use:
The Republic of Cyprus joined the EU in May 2004 and adopted the € as its currency at the beginning of 2008. Cyprus is scheduled for joining Schengen Area in the near future as well.
Greek is the national language in the Republic of Cyprus, but good English is widely spoken with most signage also translated into English. There are large Russian, German, British, Polish and Israeli communities as well.
Here are some English writing news Sites
Some Bio and Organic stuff are available in the large supermarkets, Metro, Sklavenidis and Alpha Mega. For example Ecover liquid detergent.
Happy Cow lists some Vegan Options for Larnaca:
Then there are some Bio shops in Larnaca:
Nicosia:
Limassol:
Paphos:
