| As a prospective property owner in Cyprus, you may find of interest
this brief introduction to the banking system.
Banking in Cyprus is a well developed system and caters for the
needs of individuals and businesses alike.
Non-locals are able to open foreign currency accounts and Local
deposit accounts. Once permanent residency is granted, internal
bank accounts can be opened.
Cyprus Banks have branches worldwide, while International Banks
have Branches Island wide. These include Barclays PLC, Arab Bank,
Commercial Bank of Greece, etc.
Most Credit cards are accepted in Cyprus such as Visa, MasterCard
and American Express.
The Cyprus pound is divisible into 100 Cents. Coins are circulated
in denominations of 50, 20, 10, 5 and 1 cents. Notes are circulated
in denominations of CYP 20.00, CYP 10.00, CYP 5.00 and CYP 1.00.
For further information relating to banking in Cyprus please see
our financial
services section.
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