The Best Places to Work in Cyprus

March 18, 2022
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Clare Louise
Posted in Business
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Over the past few years, Cyprus has become the first choice for many multinational corporations seeking an EU base, resulting in a progressive growth in Cypriot job openings. Job opportunities in IT and technology, as well as in financial services and business services, have increased. Companies in these fields have discovered that the island provides an advantageous infrastructure and location for their activities. As a result, employees of these businesses can live a fulfilling work and personal life in Cyprus, which comes with numerous advantages. This article will look at the best cities to invest in, do business, and coworking space in Cyprus.

Limassol

Limassol is Cyprus’s second largest city. It has the island’s largest port and is its most important industrial center. It is very popular with business people who prefer to live near the sea. Limassol has high growth potential because the city is currently very active in the financial industry. Limassol is well-known for its high educational standards and excellent healthcare system. Its cost of living is also relatively low when compared to other European cities.

Nicosia

Nicosia is Cyprus’s capital and the country’s geographical, political, economic, and cultural center. Despite being an island country, Cyprus’s capital is not near the sea and is located in the middle of the Mesaoria Plain on the island of Cyprus.

Nicosia was significant in historical times because of its strategic location as a crossroads for the African, Asian, and European continents. This geographic significance has persisted into the modern business world.

This means that the majority of people will have access to international shipping and airports all over the world. It makes traveling for business meetings easier for businessmen and investors. Aside from that, Nicosia has Europe’s lowest corporate tax scheme.

Larnaca

Due to the huge number of international corporations offering opportunities in the tourist and hospitality, real estate, and energy industries, Larnaca, Cyprus’ third largest city, is a preferred location for business professionals and expats. Because English is commonly spoken among Cypriots, the conditions for internationals are favorable even if they do not speak Greek. Aside from the inexpensive cost of living, which averages around 300 euros per month, most expats like the duty-free imports.

Expats are likely to find numerous job opportunities in the various service sectors, with year-round employment prospects in the casino and hotel businesses. IT and financial expertise from other countries is in high demand in most modern economies.

The Working Situation in Cyprus

The country’s average wages are low, but so is the cost of living. There is no such thing as a national minimum wage. The working week goes from Monday to Friday, and the average number of hours worked per week is 40.

Depending on where you work and how long you have been employed, you are entitled to anywhere from 20 to 24 days of paid vacation per year.

In the major cities, many local and multinational corporations have branches and office buildings. Many businesses are opting to use a co-working space in Cyprus rather than dedicated offices. Not only in the major cities but also in places like Paphos, Ayia Napa, and Famagusta, there is a network of dedicated co-working spaces.