Currency Exchange
It is very easy to find currency exchange outlets in Cyprus, in all the Banks, in
every Hotel and many of the Shops, especially in Tourist Areas also offer this.
However, it is advisable if you are arriving on holiday to bring sufficient euros
with you, just in case you arrive on a Bank Holiday or a long Holiday weekend such
as Easter, when it may be more difficult to get currency exchanged. You can then
exchange the rest of your currency as and when needed throughout your holiday. All
Banks operating in Cyprus offer foreign currency exchange services and quote the
exchange rates of the Euro against all major foreign currencies daily. More detailed
information concerning exchange rates can be obtained from the Central Bank Of Cyprus
– www.centralbank.gov.cy
Forms of Payment
Hotels, large shops and restaurants accept major Debit / Credit Cards, Travellers
Cheques, Euro cheques and banknotes of major foreign currencies.
V.A.T. Refund
Foreign visitors from countries outside the EU are eligible to claim back V.A.T.
on goods exported in their hand luggage. Eligible stores will display Global Blue
Tax Free Shopping signage in the window. When paying for your purchases ask the
shop staff for a Tax Free Form. Before you check in for your flight, go to the Customs
desk and present your completed Tax Free Form, passport, receipts/invoices and purchases
to get a stamp on your form. Make sure the goods are sealed and unused. Please allow
enough time for the refund process. Go to a Refund office displaying the Global
Blue logo and present your stamped and completed Forms to receive the refund in
cash or credit card.
OR
Mail your stamped completed Forms to the relevant Processing Centre to receive your
refund on your credit card
NB: The refund you receive is the VAT minus Global Blue’s service fee.
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. If you have a permanent
residence in a non-EU country. Minimum purchase amount 50.00 EURO (Food purchases
are not refundable). More detailed information can be obtained from the V.A.T. service
of the Customs and Excise Department at www.mof.gov.cy
Holiday Budget
The price of goods and services in Cyprus varies depending on the season and the
location. Below is an indicative list in Euro:
- A single bus ticket costs from €1.50
- A glass of beer costs between €2.25 and €4.00
- A ticket to the cinema costs around €8.00 for adults and €6.00 for
children
- A carton of Local Wine costs between €1.85 and €2.50
- Continental or English breakfast costs between €3.50 and €6.00
- Lunch – on average a main course costs between €6.00 and €10.00
- Dinner – on average at a local tavern costs around €10.00 per person
Tipping
Almost all restaurant bills will include a 10% service charge and you are not at
all obliged to leave anything extra however, if you feel you would like to leave
something extra, a minimum of 2 or 3 Euros is a nice gesture.