Social Insurance and GeSy Contributions in 2022

January 25, 2022

Please be informed that this year Social Insurance contributions and the contributions to the General Healthcare System (GeSY) will remain the same as in 2021.

Social Insurance Contributions for 2022 are summarized below:

Contributions to:	Employee	Employer	Self-Employed
Social Insurance Contributions	8,3%	8,3%	15,6%
Social Cohesion Fund		2,0%
Redundancy Fund		1,2%
Industrial Training Fund		0,5%
Holiday Fund (if not exempt)		8,0%

Note**:

Social cohesion fund is calculated on total emoluments and has no maximum level.

Note**:

As from 1 January 2022, the maximum amount applicable for Social Insurance contribution purposes is €58.080 p.a., €4.840 per month for monthly paid employees, and €1.117 per week for weekly paid employees.

General Health System Contributions for 2022
For the purposes of calculating the GHS contributions, gross emoluments are capped to €180.000 per annum. Below is set a table summarizing the relevant contributions:

Ref	Category	Source of Income	1/1/2022
(i)	Employees	Emoluments	2,65%
(ii)	Employers	Employees’ emoluments	2,90%
(iii)	Self-Employed	Own Income	4,00%
(iv)	Pensioners	Pension	2,65%
(v)	Persons holding an office	Officers’ Remuneration	2,65%
(vi)	Republic of Cyprus or Natural/ Legal person responsible for the remuneration of persons holding an office	Officers’ Remuneration	2,90%
(vii)	Persons earning rental, interest, dividend and other income	Rent, interest and dividend	2,65%
(viii)	Republic’s Consolidated Fund	Emoluments/pensions of persons in (i), (iii), (iv) and (v)	4,70%

It is noted that for GeSy contributions purposes domicility of the individual is irrelevant.

In addition, please note that non-Cyprus tax resident individuals having Cyprus sourced income (i.e. rental income) are liable to pay GeSy contributions at the applicable rates.

As always, M. Target Group specialists remain at your disposal should you require any further information, clarification or professional assistance.