Cyprus-Forum.com

[KL]

Hi everyone...

I am from Asia and needed info about Cyprus. I needed Greek, Turkish & English language expertise for business. Would I get it in Cyprus? If yes, what is the average salary/wages for a fresh graduate with finance & accounting background?

[Piratis]

Yes. In Cyprus you can easily find native speakers of all three languages.

You can also easily find many bi-lingual Greek/English or Turkish/English and also English/Greek or English/Turkish in case English is the native language.

You can also find some tri-lingual but those are rare and they would cost a lot more.

A fresh graduate with a bachelor degree will need a minimum of 1000 dollars net per month.

[KL]

TQ so much ...

When you mentioned 1,000 dollars net... does it mean that the company pay the gross amount which includes taxes?

[Piratis]

With "net" I mean the salary after social security and some other things are taken out.
So gross it might be around 1100 dollars.

[KL]

Is it a common practise to start with $500-700 as probation for 6 months and after confirmation to $1100 depending on the quality of the staffs? Is it common for married woman to want to work or stay home?

I am asking specifically on net and gross coz through experience, certain countries do impose the companies to pay taxes in the gross section, especially for those having comunismn influence...

[Piratis]

$500 is bellow minimum wage. With $700 you can find only unskilled workers.

$1000 is the minimum if you are looking for people with a degree, and after 6 months - 1 year you will have to give them more.

(notice we are talking with US dollars)

[KL]

Dear Piratis

Thanks!!
My next question is a little naive for I have not researched a lot obout your country's history. I have noticed that there is the Republic of Cyprus and there is the North Cyprus. The economic indicators from both sides are not parallel.

For cost purposes, north seems to be on the advantage. Is there going to be a difference of setting up an office either on the North side or at Republic of Cyprus?

[Piratis]

The north part of Cyprus is illegally occupied by Turkey. Maybe property is cheaper (since they build on land that was stolen from Greek Cypriots) and the cost of life lower, however it is one of the last places to do business in. Even the residents themselves struggle to do business there. International businesses in north Cyprus is virtually non existent. (as opposed to Republic of Cyprus which is full with international and offshore businesses)

The only industry that thrives in north Cyprus is the illegal exploitation of Greek Cypriot properties. They build villas and they sell them at half price to foreigners, mainly European retirees. Tourism industry is doing quite good, and they have some universities that attract some foreign students ... and thats about it.

For cost purposes, north seems to be on the advantage.

It might have a cost advantage if you are a retiree that you will go there to "buy" a cheap villa and benefit from the lower cost of life.
However businesses usually need a lot more than that and north Cyprus simply doesn't have any kind of infrastructure to support international business, not even the basics. For example there are no direct flights there, there is only dial-up internet, they can not export anything directly etc etc.

Also it will be almost impossible to find a Greek native speaker with the qualifications that you want there. While many thousands Turkish Cypriots work in the areas controlled by Republic of Cyprus, Greek Cypriots do not go for work in the occupied areas. This would defeat the reason you are coming to Cyprus in the first place.

What kind of business are you setting up?

[KL]

We are looking into setting up a centre to collect financial data on listed companies in 3 exchanges - Greece, Turkey & Cyprus. The medium size companies in these 3 countries seems most likely to publish info in the local languages rather than English. That is why I am looking at Cyprus as an option ..