The official currency in Cyprus has been the euro since 2008 when it was adopted by South Cyprus. North Cyprus does not use the euro but instead uses the Turkish lira. We collected a few questions about currency and money that could be useful for you.
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Can I pay by card in Cyprus?
In Cyprus, in most cases, you will have no problem with paying by card. You can use Visa, MasterCard and Maestro cards almost everywhere you go. And it does not matter in which part you are. You even can include tips in your bill in restaurants. We gave you information about this and even more in the article about restaurants in Cyprus.
Do I need cash in Cyprus?
We use cash very seldom. So we have small money with us just in case. But you do not need a lot of cash in Cyprus. You will need cash to pay for a sunbed if your hotel does not have a beach or you are going to visit the other one. More information about this we collect in the article about beaches in Cyprus.
Also, you might need cash to pay for a taxi if your hotel does not have it or they are out of service. In our experience, we need cash to give tips for food delivery. You can read about delivery services here. So we actually recommend having small money in cash, at least, just for emergency situations.
Do I need to exchange my money?
Unfortunately, you do not have another choice. If you plan on staying in Cyprus for a short period of time it is possible that some places might accept American dollars, but not Russian rubles or Ukrainian hryvnias. So we recommend using euros if they are available.
If you have a Cyprus bank account and Cyprus residency, we recommend you to open it with euro because the fees are much cheaper than for other currency accounts.
Can I pay in euros in North Cyprus?
Like we said before, in North Cyprus people are using the Turkish lira, but also in most places you can pay in euros. So you do not need to worry if you are coming to North Cyprus without a lira.
Is Cyprus a good place for freelancers?
Cyprus is definitely one of the best places in Europe to be a freelancer. The cost of living, especially housing and food prices are low compared to other western countries so you can save money fast and work on your projects or businesses without worrying about running out of cash quickly.
In Cyprus, there is no income tax on freelancers and you only have to pay VAT for the products or services that you sell.
So for example, if you are searching for a place for work, Limassol should be the best place.
What currency should I bring with me?
As we wrote above, it does not matter what currency you have, as you can exchange it here without any problem. But to make your trip easier, we recommend preparing a small amount of cash in euros.
How much money should I take to have a nice holiday?
There is no answer to this question. Because it depends on what you want to do in Cyprus, how many places you will visit and so on. We recommend having at least 100 euros because there are few cases when you need cash without any cards or internet connection available.
We have more detailed information that is related to currency in Cyprus here: about what prices for food, how much the average bill in restaurant costs, taxi prices, gasoline, car rental.