Cyprus Business Now: tourism, remote work, wages, taxes, betting
The manual is tied to the 2025 law regulating remote work in the public service, which was approved by the House and published in the official gazette on December 12, 2025.
Its commencement was set through a council of ministers decision on December 16, 2025, followed by a gazette notice on December 19, 2025.
While the framework was shaped by the rapid shift to remote work during the pandemic, the manual frames off-site work as part of a wider reform agenda to modernise public administration and expand flexible work arrangements, alongside reduced employment and flexible hours.
In parallel, it links the policy to the recovery and resilience plan 2021 – 2026, describing it as a reform under the modernisation axis, aimed at improving efficiency, strengthening work incentives and supporting work-life balance, including for staff with health issues or disabilities.
At entry level, employees in the A1 scale earn between €15,100 and €17,200 annually, with monthly pay starting at €1,322 and topping out at €1,644. The corresponding hourly rate averages €9.48.
Pay rises more noticeably in the mid-level scales. In A8, annual earnings begin at €24,500 for the first grade and climb to €45,800 at the highest, while monthly salaries range from €2,101 to €3,818.
Hourly pay in this category averages between €18.17 and €18.87.
Cypriots made a total of 3.3 million trips during the year, generating 18 million overnight stays and expenditure of €2.4 billion. Just over half of those trips, 51.9 per cent, were taken abroad.
Even so, they accounted for a far larger share of activity, representing 73.4 per cent of overnight stays and 87.3 per cent of total travel spending.
When broken down by destination, Greece emerged as the clear favourite. It attracted 34.7 per cent of all trips made by Cypriots, while accounting for 26.2 per cent of overnight stays and 26 per cent of total expenditure.
The United Kingdom followed, with 10.5 per cent of trips abroad, 15.3 per cent of nights spent and 11.6 per cent of overall spending.
The scheme introduces additional deductions for mortgage interest or rent on a main residence, as well as for energy upgrades and the purchase of an electric vehicle, provided taxpayers meet the income thresholds set out in the legislation.
Eligibility is based on total annual family income. Families without children, or with one or two children, qualify with income of up to €100,000.
The threshold rises to €150,000 for families with three or four children and to €200,000 for families with five or more children. The deductions apply to married couples, civil partners or cohabiting parents with a common child, as well as to single taxpayers.
The largest single deduction, capped at €2,000 per year, relates either interest paid on a serviced mortgage loan for the purchase or construction of a main residence in Cyprus, or rent paid for the use of a primary home.
The figure also represents a 20 per cent increase compared with the same period in 2023.
According to the authority, online betting continued to dominate activity during the July – September period.
Class B operators generated €235.7m of total gross revenue, while Class A land-based premises accounted for €76.8m.
The NBA noted that gross revenue from Class A operators edged down by 1 per cent compared with the third quarter of 2024, although it was 7 per cent higher than two years earlier.
By contrast, Class B revenue rose by 10 per cent year-on-year and was 25 per cent higher than in the third quarter of 2023.
Player payouts across both categories reached €277.5m in the quarter, representing a 9 per cent annual increase and a 20 per cent rise compared with 2023.
The meeting focused on a substantive and constructive discussion, while the chamber also expressed its appreciation for the Deputy Minister’s “steadfast commitment to supporting the Cypriot and European Shipping”.
The CSC was represented by its president Andreas Neophytou and general manager Alexandros Iosifidis.
The chamber also welcomed Cyprus’ assumption of the Presidency of the Council of the European Union, extending warm wishes for every success.
The Presidency was described as “a unique opportunity to highlight the potential of the shipping industry and its significant contribution to the economy of Cyprus and Europe”.