Money, Currency and Cards in Cyprus
Local Currency
Euro (EUR)
General Advice
The Euro only became the currency of Cyprus in January 2008. There are seven denominations in Euro banknotes: 5, 10, 20, 50, 100, 200 and 500 euro. They all have different colour and size, the higher the denomination, the bigger the size. One euro is divided into 100 cent. There are eight euro coins: 1, 2, 5, 10, 20 and 50 cent, €1 and €2. The designs on one side of the coins are common to all the countries of the euro area, while the other side reflects national identities. All euro coins can be used in all euro area countries, irrespective of their national side.
Money Exchange
All banks operating in Cyprus offer foreign currency exchange services. Foreign currency can also be exchanged at hotels.
ATM Availability
ATM machines are widely available in all main towns throughout Cyprus. For more information check the Visa ATM locator, the MasterCard ATM locator or the American Express ATM locator for the addresses of ATMs around the world.
Credit Cards
Hotels, large shops and restaurants accept credit cards.
Travellers Cheques
Hotels, large shops and restaurants accept travellers' cheques, Eurocheques and banknotes of major foreign currencies.
Other Information
Foreign visitors from countries outside the EU can claim back V.A.T. on goods exported in their hand luggage. Visitors are eligible for a V.A.T. refund if:
- They are not holders of a passport or other form of identification from an EU Member State.
- They have not resided in Cyprus for more than 365 days in the two years immediately prior to the date of purchase of the goods,
- The total purchased from one store or a chain or stores is more than C£ 100 and below C£ 10 000,
- The goods are exported in visitors' hand luggage by the last day of the third month following the month in which the goods were purchased.
In order to claim your V.A.T. refund you will have to:
- Make your purchases from shops that display a tax-free shopping sign and simply ask for your tax-free document.
- When leaving Cyprus show your purchases and passport to customs officials and have your tax-free document stamped.
- Receive your refund in the method of your choice.
More detailed information can be obtained from the V.A.T. Service of the Customs and Excise Department
