An EU base within the eurozone, Cyprus remains one of the few international business centres offering low operational costs and a high standard of living.
Office space and residential property in Nicosia, the capital and major business centre, is relatively inexpensive when compared to other European capitals. In terms of cost of living, Cyprus remains one of the most advantageous places to live, with cost of living lower than in most Western European countries. At the same time, residents of Cyprus enjoy a high standard of living and exceptional quality of life, as the balmy climate and low crime rate offer both comfort and peace of mind.
Labour Costs
According to Eurostat, the average hourly labour cost in 2024 was estimated at €33.5 in the EU and at €37.3 in the euro area, while the hourly labour cost in Cyprus was €21.0. As of January 2026, the national minimum wage in Cyprus is €1,125 per month (gross).
Cyprus Salaries
SALARY SURVEY 2025 Source: GRS Recruitment | ||||
|---|---|---|---|---|
JOB TITLE | LOW (€) | MID (€) | HIGH (€) | |
Management | CEO | 100,000 | 130,000 | 150,000 |
| Executive Director | 60,000 | 100,000 | 140,000 |
| CFO | 57,000 | 82,000 | 135,000 |
Accounting & Finance | Financial Controller | 50,000 | 65,000 | 70,000 |
| Finance Manager / Senior Accountant | 40,000 | 55,000 | 65,000 |
| Accountant/Auditor (Qualified) | 35,000 | 40,000 | 45,000 |
| Accountant/Auditor (Part Qualified or QBE) | 24,000 | 30,000 | 40,000 |
| Account Assistant | 19,400 | 24,000 | 28,000 |
HR Department | Head of HR / Group HRM | 70,000 | 80,000 | 90,000 |
HR Manager | 36,000 | 48,000 | 60,000 | |
HR Executive | 22,000 | 27,500 | 40,000 | |
Legal Department | Head of Legal / Group Legal Head | 65,000 | 100,000 | 140,000 |
Legal Advisor (Qualified Lawyer) | 29,600 | 39,000 | 56,000 | |
Legal Assistant / Paralegal / Non-Qualified Lawyer | 18,000 | 22,000 | 28,600 | |
Compliance, Anti-Money Laundering (AML), Counter-Terrorism Financing | Head of Compliance | 57,000 | 72,000 | 90,000 |
Compliance / AML / CTF Manager | 42,000 | 46,000 | 54,200 | |
Compliance / AML / CTF Officer | 28,900 | 36,000 | 44,000 | |
Dealing Room | Chief Dealer | 48,000 | 52,000 | 70,000 |
Dealer | 24,000 | 33,000 | 42,000 | |
Junior Dealer | 17,000 | 20,000 | 22,000 | |
IT Department | Head of IT / CTO | 65,000 | 78,700 | 140,000 |
IT Manager / Development Manager | 53,500 | 65,000 | 78,200 | |
Quality Assurance (QA) / Tester | 23,800 | 36,700 | 49,000 | |
IT Technician | 23,000 | 29,000 | 36,000 | |
Developer | 30,000 | 42,000 | 59,000 | |
Marketing Department | Head of Marketing | 50,000 | 72,000 | 90,000 |
| Marketing Officer | 24,000 | 30,000 | 39,000 |
| Digital Marketing Specialist (Social, PPC/SEO) | 28,000 | 36,000 | 42,000 |
| Marketing Executive | 22,000 | 25,600 | 29,000 |
Sales Department | Head of Sales | 43,400 | 55,000 | 60,700 |
FX Sales | 24,000 | 28,000 | 36,000 | |
Sales Executive (Industries other than FX/Fintech) | 22,000 | 26,500 | 34,000 | |
Administration | Office Manager / Personal Assistant | 24,000 | 34,000 | 40,000 |
| Administrator / Receptionist | 19,600 | 22,000 | 26,000 |
Corporate Administrator | 24,000 | 33,000 | 36,000 | |
Note: The above statistics are based on permanent job placements made by GRS in Cyprus. These statistics do not necessarily reflect a complete overview of the Cyprus recruitment and labour market. | ||||
Business Costs
| Business Costs | Cyprus | EU27 Average |
|---|---|---|
Labour (average) | €21.00 | €33.50 |
Communications (services & equipment) * | 110.70 | 100 |
Electricity (households) | €0.2084/kWh | €0.2151/kWh |
Electricity (non-households) | €0.1505/kWh | €0.1829/kWh |
*EU average was set to equal 100 points for benchmark year 2019. Source: Eurostat (2024)
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January 2026
