3016 Limassol, Cyprus

41, Misiaouli & Kavazoglou Street, 2nd Floor, Office 201

+357 25 87 14 14

41, Misiaouli & Kavazoglou Street, 2nd Floor, Office 201

+357 96 63 66 26

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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.

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