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Social contributions in Cyprus

There is a cap on annual contributions of €57,408 income

Also there is NHS at the level of:

- 2,65% - employee
-2.9% - employer
-4% - self employed

NHS has a cap on €180k of annual income

Minimum wage is only applicable for certain professions.

Since 1.1.2023 the Council of Ministers passed a national minimum wage decree of €940 gross per month. This is howver still uncertain how it would be implemented as it will affect small businesses negatively
 
The family (2-3 people) need about 2000 -3000 EUR per month for more or less comfortable living.
That's not much... I'm impressed, maybe I should consider relocating.
 
So if a company does not issue dividends for several years, then suddenly issues dividends all in one chunk, will the gesy contribution be capped to 5k€?
Yes but there is a deemed dividend contribution every 2 years. So even if you do not distribute dividends due to the deemed dividend 70% of the distributable reserves will be considered as declared dividend and subject to special defence contribution and GESY. As you are a non-dom then only Gesy will be aplicable at 2.65% with a cap of 180k of income
 
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