Cyprus Fact-File Part 7:
Business Owner Welfare and Lifestyle

7.6 Cyprus Education

Education

The Cypriot education system is structured in different tiers:

Pre-primary education;
Primary education;
Secondary education;
Higher education;
Informal education.

There is an option to attend secondary technical and vocational education, aimed at providing students with the necessary skills and knowledge to enable them to enter the workplace when they leave school.

There are private and public universities in Cyprus and a number of private higher education establishments.

For those moving to work and live in Cyprus, there are several international schools. These include:

The American College;
The American Academy (Larnaca and Nicosia);
The American International School in Cyprus;
The Heritage Private School (Limassol).

Most of these international schools cater for children from between the age of 3 and 18. The core curriculum of The Heritage Private School follows the GCE AS and A level. A range of subjects is taught and learning (modern) Greek is usually a requirement at some stage in a child’s education in Cyprus. Fees for private schools vary considerably.

The Tax Treatment Of Education Costs

Although the actual cost of school fees cannot be offset against income tax as an allowable expense, the Cypriot tax system does include certain allowances that effectively reduce the taxable base. All resident Cypriot families are entitled to a Higher Education Grant of EUR2,563 per annum in respect of each child who is undergoing full-time higher education in Cyprus (or at a foreign university).

Where education is that of older children about to leave school or university and the business owner plans to employ them in the business, then the cost of fees could be claimed as a business deduction against tax if the subject is relevant to the business.