PAPALLAS

After a long journey of over three decades, the Republic of Cyprus became a full member of the EU on May 1, 2004. Accession to the EU was a natural choice for Cyprus, driven by its culture, civilization and history, as well as its unwavering commitment to the values of democracy, freedom and justice... An average annual starting salary for a young graduate with a Bachelor Degree is 22,800. The employee will contribute 1,500 for social security, will pay 4,560 income tax. The employer will contribute 1500 to social security, for an average total labor cost, for such talent, of 24,300 per year... In 2011, 33.6% of the population of Cyprus between the ages of 15-64 held a Bachelor, Masters, or PhD degree. The EU27 average equivalent for the same year was 23.6%. Also, a large proportion of Cypriot tertiary students studied abroad in 2011. In Lefkosia alone, there are over 1300 researchers, providing ample opportunity for growth in research, knowledge and innovation.