Currency Exchange

All banks operating in Cyprus offer foreign currency exchange services and quote the exchange rates of the Euro against all major foreign currencies daily. Foreign currency can also be exchanged at hotels.

Forms of Payment

Hotels, large shops and restaurants accept credit cards, travellers’ cheques, Eurocheques and banknotes of major foreign currencies.

V.A.T. Refund

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 171 Euro and less than 17 100 Euro.
• 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

Internet Connection

Many establishments including phone centres, internet cafes and hotels offer internet connection services of various speeds and types. Depending on the establishment, the service offered is wired or wireless and is usually charged by the hour.

Tipping

Since a 10% service charge is levied in hotels and restaurants, tipping is not obligatory but is always welcome and appreciated.