Money in Cyprus: Euros, Cards, Cash and Tax-Free Shopping

This guide covers the Republic of Cyprus, including Larnaca, Paphos, Limassol and the government-controlled area. Euros and payment cards cover most tourist spending. The north of the island has different payment arrangements and is covered separately.

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Euros and useful denominations

The currency is the euro, EUR or €, divided into 100 cents. Coins are 1, 2, 5, 10, 20 and 50 cents plus €1 and €2. Practical notes are €5, €10, €20 and €50; €100 and €200 also circulate. The discontinued €500 note remains valid but is awkward for a holiday.

Ordinary euro coins from other euro-area countries work too. Keep small notes and change for stalls and buses.

Cards and a cash backup

Cards, particularly Visa and Mastercard, are widely accepted by hotels, larger restaurants and shops. Ask before ordering in a village business or relying on a driver to accept your particular card.

A reserve of €100–€200 for a couple can cover occasional cash expenses; it is not a required daily budget. Keep a backup card separately. Phone wallets such as Apple Pay and Google Pay depend on a compatible terminal and linked card.

Conversion and deposits

Choose euros at a terminal or ATM after checking your card’s terms. An offer to charge your home currency uses the merchant’s or operator’s conversion, which is not necessarily cheaper.

Check ATM and issuing-bank fees before withdrawing. A rental-car or hotel deposit hold temporarily reduces available funds even when it is not a final charge.

Taxis and the Bolt app

Where available, the Bolt app lets you inspect the quote and payment setting before confirming a ride. Do not assume immediate availability early in the morning or in a remote village; arrange an important airport transfer ahead.

For a street or telephone-booked taxi, confirm card acceptance and pricing before departure. Check meter use for an ordinary city ride, or agree the destination, passengers, luggage and extras for a fixed-price transfer. Keep the receipt.

Tips

Tipping is discretionary rather than a fixed obligation. Round up a taxi or café bill or add something for good restaurant service. Around 5%–10% is a reasonable optional starting point, not a mandatory charge.

Inspect any service line already included. A little cash can be useful for a small tip even when the bill is paid by card.

Buses: cash or Motion

For Cyprus Public Transport urban routes in Larnaca and Nicosia, fares from 3 August 2026 are €2.70 cash or €2 with Motion; at night, 21:00–04:00, €4.70 or €3.50 respectively. Do not apply this automatically to every island operator or airport shuttle.

Load a suitable ticket or e-wallet onto Motion and validate every boarding. A new plastic card costs €5 under this tariff. For a cash single, carry small change and retain the ticket. A loaded balance is not a substitute for validation.

Comparing accommodation costs

Check the complete price for your party, including VAT, cleaning, parking, breakfast and anything payable at the property. A headline nightly rate is not always the total for everyone travelling.

For apartments, check any stated separate electricity charge and deposit conditions. Do not assume that Greece’s accommodation taxes apply here: Cyprus has its own tax system.

VAT and displayed prices

Standard VAT is 19%, with 9%, 5% and 3% categories, exemptions and zero rating. Accommodation and certain restaurant services fall within 9%; that does not make every drink or bill component subject to the same rate.

Consumer shelf prices include VAT. Temporary zero-rating also applies to specified essentials during 2026; an order for eligible meat and fish products runs from 6 April through 30 September 2026. Different items in one shopping basket can have different rates.

Tax-free shopping eligibility

Eligible visitors resident outside the EU can request a refund on personal or family-use goods bought from participating retailers. The value threshold is more than €50 per person. Ask for Tax Free before purchase and confirm the shop’s documentation and eligibility checks.

The scheme does not refund goods consumed during the visit, accommodation or meals. Participation by retailers is optional, and intermediary fees can reduce the refund. It is not automatically a 19% reduction in the VAT-inclusive price.

Customs validation before departure

Keep receipts, the completed form and your passport together, with goods accessible for inspection. Export them by the end of the third month after the purchase month and obtain the appropriate customs validation.

Before checking a bag, establish where goods are inspected rather than only where refunds are paid. After validation, follow the shop or refund operator’s instructions. If continuing through another EU country, plan around the final EU exit.

Lakis Court is one of the places we stayed at in Cyprus and recommend. Check the unit type, bed arrangement and complete price for your dates. Check the stay on Trip.com