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    Money and Currency in Cyprus

    📄Travel Essentials
    October 28, 2025

    Cyprus Currency Guide for Tourists

    Visiting Cyprus? Understanding the local currency is essential for a smooth travel experience. This guide covers everything you need to know about using money in Cyprus, including currency types, ATM usage, payment methods, and tips for tourists.

    Currency Used in Cyprus

    The official currency of Cyprus is the Euro (€). Banknotes and coins are used for all everyday transactions, including shopping, dining, and transportation.

    Banknotes

    Euro banknotes in Cyprus come in the following denominations:

    • €5, €10, €20, €50, €100, €200, €500

    Coins

    Euro coins come in these denominations:

    • 1, 2, 5, 10, 20, 50 cents, €1, €2

    Coins are widely accepted for small purchases, such as snacks, coffee, or parking meters.

    Using ATMs in Cyprus

    ATMs are widely available throughout Cyprus, particularly in cities and tourist areas. Most ATMs accept major international cards, including Visa, Mastercard, and Maestro.

    • ATM fees: Depending on your bank, there may be a small fee for withdrawals in Euros.
    • Daily limits: Check with your bank for daily withdrawal limits before traveling.
    • Currency conversion: Some ATMs may offer to convert your withdrawal into your home currency. Choosing this option usually results in higher fees, so it’s better to withdraw in Euros.

    Credit and Debit Cards

    Credit and debit cards are widely accepted in hotels, restaurants, shops, and car rental services. However, in smaller towns or local markets, cash may be preferred.

    Tips for Card Usage

    • Always carry some cash, especially for small purchases or in remote areas.
    • Notify your bank of your travel plans to avoid card blocks.
    • Use contactless payment options if available for faster transactions.

    Exchanging Money

    If you need to exchange foreign currency:

    • Banks: Offer reliable exchange rates with minimal fees.
    • Currency exchange offices: Found in airports and city centers, but rates may vary.
    • Avoid street exchangers: They may offer poor rates or risk counterfeit currency.

    Import and Export of Cash or Gold

    There are generally no restrictions on bringing cash or gold into or out of Cyprus from other EU countries.

    • Travelers carrying €10,000 or more (in cash, banknotes, negotiable instruments, or gold) must declare it at customs, according to the 2009 law on cash control.

    Customs Contact Information:

    • Customs & Excise Department, Lefkosia (Nicosia)
    • Address: M. Karaoli & Gr. Afxentiou, 1096 Lefkosia
    • Tel: +357 22 601 713
    • Fax: +357 22 302 031
    • Email: headquarters@customs.mof.gov.cy
    • Website: www.mof.gov.cy

    V.A.T. (Value Added Tax)

    • Standard rate: 19% on most goods and services
    • Reduced rate of 9%:
    • Transport of passengers and luggage within Cyprus (urban, suburban, rural taxis, and tour buses)
    • Services of restaurants and catering (excluding alcoholic drinks, wine, beer)
    • Accommodation in hotels or similar establishments
    • Reduced rate of 5%:
    • Urban and rural bus transport
    • Camping sites and caravan parks
    • Newspapers, books, periodicals, and services of writers/artists
    • Certain products for persons with special needs
    • Hair salon services
    • Confectionery products
    • Entry fees to theatres, cinemas, sports events, Luna parks, and similar cultural events
    • Zero-rated supplies:
    • Supply, hiring, and repair of sea-going vessels and aircraft
    • Services meeting the direct needs of sea-going vessels
    • Leasing or letting of immovable property
    • Financial services, lotteries, medical care, social welfare, education, insurance transactions, sports, and cultural services

    Retail prices displayed must include V.A.T.

    V.A.T. Refunds for Visitors (Tax-Free Shopping)

    Foreign visitors outside the EU can reclaim V.A.T. on goods exported in hand luggage if:

    • They are not EU citizens
    • They have not resided in Cyprus or another EU country for over 365 days in the past two years
    • Purchases exceed €400
    • Goods are exported by the last day of the third month after purchase

    Steps for a refund:

    1. Shop at a store with a tax-free shopping sign and request a tax-free document
    2. Present purchases and passport to customs for stamping
    3. Receive your refund in your chosen method

    V.A.T. Service Contact:

    Other helpful services:

    Tipping and Small Payments

    Tipping in Cyprus is generally appreciated but not mandatory. For restaurants, leaving 5-10% of the bill is common if service is good. Small coins are often used for minor payments, like bus fares or cafes.

    Travel Tips

    • Keep small change handy for parking, restrooms, or snacks.
    • Check the exchange rate before exchanging large sums.
    • Secure your money in a travel wallet or hotel safe.
    • ATMs in tourist areas usually have English instructions.

    Disclaimer

    This guide provides general tourism information on currency, payments, and V.A.T. in Cyprus. Exchange rates, banking regulations, and tax policies may change. The information provided in this guide is for general informational purposes only and may change without notice. Travelers should consult official sources and authorities for the most accurate and up-to-date guidance:

    Wander Cyprus assumes no liability for any errors, omissions, or decisions made based on this guide. Always verify details before traveling.