Compare taxes and see how much you save moving from Cyprus to Greece
Cyprus and Greece are both EU member states, both use the Euro, and both occupy the Eastern Mediterranean — but their tax systems are vastly different in outcomes. Cyprus has among the most competitive income tax regimes in the EU: 0% on the first €19,500, progressive rates to 35% above €60,000, and employee social insurance of ~8.3%. Non-domicile status exempts Cyprus residents from the Special Defence Contribution on dividends and interest income — effectively eliminating investment income tax for most expats. Most strikingly, Cyprus allows tax residency with only 60 days physical presence per year. Greece's 44% top rate (from €40,000) plus ~13.87% EFKA contributions make it significantly more expensive for professional salaries. Greece counters with excellent special regimes — the 7% pensioner flat rate and 50% employment income exemption for new residents — but even with these, Cyprus produces better outcomes for most income types.
Top Rate (above €60,000)
0% up to €19,500 — non-dom exempts dividend/interest income
Top Rate (above €40,000)
Plus EFKA social contributions ~13.87%
At €80,000 income:
That is €1,167/month back in your pocket!
| Income | CY Tax | GR Tax | Savings | 10-Year |
|---|---|---|---|---|
| €30,000 | ~€2,100 income tax (7%) + ~€2,490 social insurance = ~€4,590 (~15%) | ~€6,200 income tax + ~€4,161 EFKA = ~€10,361 (~35%) | Cyprus saves ~€5,800 | €58,000 |
| €50,000 | ~€7,325 income tax (14.7%) + ~€4,150 social insurance = ~€11,475 (~23%) | ~€13,900 income tax + ~€6,935 EFKA = ~€20,835 (~42%) | Cyprus saves ~€9,400 | €94,000 |
| €80,000 | ~€16,325 income tax (20.4%) + ~€6,640 social insurance = ~€22,965 (~29%) | ~€27,100 income tax + ~€9,680 EFKA = ~€36,780 (~46%) | Cyprus saves ~€13,800 | €138,000 |
| €100,000 | ~€23,325 income tax (23.3%) + ~€8,300 social insurance (approaching cap) = ~€31,625 (~32%) | ~€35,900 income tax + ~€9,680 EFKA (approaching cap) = ~€45,580 (~46%) | Cyprus saves ~€14,000 | €140,000 |
| €150,000 | ~€40,825 income tax (27.2%) + ~€8,300 social insurance (capped) = ~€49,125 (~33%) | ~€57,800 income tax + ~€9,680 EFKA (capped) = ~€67,480 (~45%) | Cyprus saves ~€18,400 | €184,000 |
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Moving between Cyprus and Greece, or managing foreign income in euros? Wise transfers at the real exchange rate — ideal for cross-border salary remittances, dividend transfers, and property purchase transactions.
⚠ For currency exchange only — not a bank account replacement.
Transfer EUR at the Real Rate →Cyprus's Income Tax Law allows individuals to be treated as Cypriot tax residents if they spend at least 60 days in Cyprus in a tax year — provided they meet three additional conditions: they do not reside in any other single country for more than 183 days; they are not tax resident in any other country; and they maintain business, employment, or other connections to Cyprus (such as owning or renting a property and carrying out business in Cyprus). This makes Cyprus exceptional for internationally mobile professionals who split time across multiple countries — 60 days per year is significantly lower than the typical 183-day rule used by most countries.
Cyprus resident individuals who are not domiciled in Cyprus are exempt from the Special Defence Contribution (SDC) — a levy on dividend income (17%) and interest income (30%) that applies to Cyprus-domiciled residents. Non-domicile status applies for 17 years from the date of becoming a Cyprus tax resident, for individuals who were not domiciled in Cyprus under the Wills and Succession Law. In practice, most expats moving to Cyprus qualify as non-doms. The result: dividends from Cypriot or foreign companies, and interest from bank deposits, are received tax-free. This makes Cyprus particularly attractive for those with investment portfolios, business dividends, or passive income streams.
Yes. Cyprus joined the European Union in 2004 and adopted the Euro in 2008. It is a full EU member with all associated rights — including freedom of movement for EU citizens, access to the EU single market, and EU legal protections. This distinguishes Cyprus from non-EU alternatives like UAE or Georgia that offer similar or lower tax rates but without EU membership benefits. EU citizens can move to Cyprus freely; non-EU citizens require a residence permit (available via several routes including investment, employment, or retirement) but the process is relatively straightforward compared to most EU countries.
Several reasons. The 7% pensioner flat rate makes Greece exceptional for retirees with large foreign income portfolios — paying 7% on €200,000 foreign income is just €14,000, which can undercut even Cyprus's non-dom rules in some circumstances. The 50% employment income exemption for new workers substantially closes the gap for the first 7 years. Greece's larger job market (particularly Athens), established infrastructure, international schools, and cultural richness attract expats willing to pay somewhat more. The Greek lifestyle — climate, food, culture, island living — is a significant non-financial draw. And for EU retirees with EU pensions, Greece's treaty network and regime specifically targets their situation.
Cyprus non-doms: zero SDC on dividends and interest (17% SDC applies to Cyprus-domiciled residents only). Capital gains: no capital gains tax in Cyprus except on disposal of immovable property in Cyprus. Dividends and interest are received essentially tax-free for non-doms. Greece: dividends taxed at 5%; interest income at 15%; capital gains on shares at 15%; property gains taxed at income tax rates (9–44%). For investors and business owners distributing profits, Cyprus is dramatically more efficient. At €100,000 in dividends: Cyprus non-dom pays €0; Greek resident pays €5,000 — a substantial difference that drives many business owners to establish holding structures in Cyprus.