Is there a cash payment limit in Cyprus?
Yes — there are two €10,000 thresholds. Since 1 January 2025, Cyprus prohibits cash payments at or above €10,000 for goods and services, in line with EU AML rules; larger sums must go through traceable channels (bank/card). The ban applies across sectors (real estate, vehicles, luxury goods) and a transaction cannot be split to dodge the threshold. Separately, anyone entering or leaving Cyprus carrying €10,000+ in cash must file a cash declaration with Customs. In short: yes — a €10,000 payment ban plus a border declaration.
📋 The rules
- Cash payment ≥€10,000: banned (since 2025)
- Larger sums: only traceable channels
- Splitting a transaction is not allowed
- Border: cash €10,000+ must be declared
- Declarations go to MOKAS (AML unit)
🔓 Exceptions
- Private dealings outside business: treated differently
- Cash by post/freight: disclosure on customs request
- Deposits/withdrawals aren't 'payments' — but bank AML applies
⚠️ Penalties & fines
Making/accepting a cash payment above €10,000: an administrative penalty of 10% of the excess amount; in serious property-purchase breaches, fines and up to 5 years' imprisonment are reported. Failing to declare €10,000+ at the border: the cash can be detained/seized and penalties imposed (Law 53(I)/2009). Beware a myth: "there's no cash limit in Cyprus, only a border rule" is wrong since 2025 — there's now a hard €10,000 ceiling on cash payments for goods/services, on top of the separate border-declaration duty. Tip: for large purchases, use a bank transfer or card.
📎 Official sources
❓ Frequently asked
Is there a limit on cash payments?
Yes. Since 1 January 2025, cash payments of €10,000 or more for goods and services are banned. Larger sums must be paid through traceable channels, such as a bank or card. The ban applies across all sectors.
Can I split the transaction?
No. A transaction may not be split into smaller amounts to dodge the €10,000 threshold. Such practices are treated as circumvention and attract the same penalties.
What applies at the border?
Anyone entering or leaving Cyprus, even to or from other EU states, carrying €10,000 or more in cash must file a cash declaration with Customs. The declarations are forwarded to MOKAS for review.
What's the penalty for a breach?
Making or accepting a cash payment above €10,000 carries an administrative penalty of 10% of the excess amount. In serious breaches, especially property purchases, fines and up to five years' imprisonment are reported.
Does it cover bank deposits?
Not directly. Deposits and withdrawals aren't 'payments' caught by the €10,000 ban. However, banks apply their own anti-money-laundering rules and report large or suspicious transactions.
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