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How do I calculate my managing director salary of a Cyprus Limited?

The following taxes and duties are due on your net salary:

  • income tax (tax-free up to 19.500 € per year, then 20-35%)
  • social insurance contribution (8,3% employee, 12,05% employer)
  • national healthcare contribution (2,65% employee, 2,90% employer)

As of 2020, the social insurance contribution stands at a yearly cap of €54,864, €4572 monthly cap, and €1,055 weekly cap.

Tell your assigned tax consultant what you want to pay yourself monthly, net or gross as salary. He will calculate your taxes and tell you how much you and your company must pay monthly in social security contributions. For your own calculation, you can use our net salary calculator.