Last Updated on 07/08/2025
How to Transfer Money to Cyprus for Property Purchases (2025 Guide)
Buying real estate in Cyprus is an exciting move—whether you’re investing in a seaside apartment, a retirement home, or a rental property. But once you’ve found the right place, there’s one essential step that can’t be overlooked: transferring money to Cyprus securely and cost-effectively.
With property prices often starting at €150,000 and going much higher, choosing the right transfer method can save you thousands of euros in fees and exchange rate losses. This guide walks you through the best ways to send money to Cyprus from Europe and beyond, using up-to-date information from trusted payment platforms and financial providers.
Why the Right Transfer Method Matters
Cypriot properties must be paid in euros, and international buyers need to ensure their money arrives safely, quickly, and in full. The wrong method can lead to:
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Unexpected delays (which could affect your purchase deadline)
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High transfer fees or poor exchange rates
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Legal compliance issues (especially around AML regulations)
The best method depends on where your bank is located, how much you’re sending, and your preference for speed, cost, or legal protection.
Best Ways to Transfer Money to Cyprus in 2025
Let’s break down the top options for sending money to Cyprus—whether you’re inside the EU or sending from the UK, Switzerland, or elsewhere.
1. SEPA Bank Transfers (For EU/EEA Buyers)
If you have a bank account in the EU or EEA, a SEPA transfer is the easiest and most cost-effective method.
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Speed: 1–2 business days (or instant with SEPA Instant)
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Cost: Typically free or under €1
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Currency: Euros only
✅ Pro Tip: Ask your bank about SEPA Instant. It sends money in under 10 seconds, 24/7—even on weekends.
2. SWIFT Transfers (For Non-EU or High-Value Senders)
If you’re sending money from outside the EU/EEA—or your bank doesn’t support SEPA—SWIFT transfers are your go-to option. This international system is accepted by all major Cypriot banks, including Bank of Cyprus and Hellenic Bank.
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Speed: 1–3 business days
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Cost: €15–€50 in sending and intermediary bank fees
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Currency: Euros or converted from GBP, USD, CHF, etc.
✅ Pro Tip: When sending via SWIFT, choose the “OUR” fee type. This ensures you cover all transfer fees upfront so the full amount arrives in the recipient’s account—crucial for deposit deadlines or escrow payments.
Be aware: some intermediary banks may still deduct handling fees, especially on large transfers. It’s smart to confirm final arrival amounts with your Cypriot lawyer or property agent in advance.
3. Wise, Revolut & Instarem (Fast Fintech Alternatives)
Modern fintech platforms like Wise, Revolut, and Instarem make transferring money to Cyprus faster and cheaper than traditional banks. These services offer real exchange rates (with no hidden spreads) and clearly stated transfer fees.
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Speed: Minutes to 1 business day
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Cost: Low, upfront fees (e.g., €6–€12 on €10,000 transfers)
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Currency: Euros (or converted from other currencies)
✅ Pro Tip: Always check daily limits. Wise, for example, has high transfer caps, but Revolut may limit free transfer amounts depending on your account type.
These platforms are especially good for mid-size transfers (e.g., lawyer fees, deposits, smaller property balances) and provide mobile apps with real-time tracking.
4. CoverCY & Clearshift (Cyprus-Focused Transfer Services)
Some fintech companies specialize in Cyprus-bound payments. CoverCY and Clearshift are designed for property buyers and expats sending euros directly to Cypriot accounts. These services are optimized for compliance with local banks and legal offices.
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Speed: Same-day or next-day
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Cost: Very low fees; often under €5
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Currency: Euro only
✅ Pro Tip: These platforms are excellent for larger property transfers because they understand Cypriot legal norms, including escrow protocols and AML paperwork. Just note that some may require minimum transfer amounts (e.g., €5,000+).
5. Currency Exchange Brokers (Best for Large Transfers)
When sending €50,000 or more for a property purchase, currency brokers often offer better rates than banks or apps. Brokers like IBI, Currencies Direct, or Smart Currency Exchange allow you to:
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Lock in exchange rates ahead of time
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Avoid daily fluctuations in GBP–EUR or CHF–EUR pairs
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Save significantly over bank FX rates
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Speed: 1–2 business days
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Cost: Low to none (depends on volume)
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Currency: Most major currencies
✅ Pro Tip: Ask your broker for a forward contract to fix today’s rate for a future payment—ideal for staged property payments or mortgages.
Brokers usually assign you a dedicated manager, help with documentation, and guide you through compliance. They’re a smart choice if you’re new to international real estate.
6. Cryptocurrency & Stablecoins (For Advanced Users)
If you’re crypto-savvy, it’s possible to transfer funds to Cyprus using stablecoins like USDT or EURT—then convert to euros via a local crypto platform. Some real estate agencies in Cyprus now accept crypto-derived funds (pending compliance checks).
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Speed: Under 30 minutes
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Cost: Minimal blockchain fees
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Currency: Crypto to EUR conversion
✅ Pro Tip: Always work with a licensed crypto exchange or OTC provider based in Cyprus. Ensure all AML and source-of-funds documentation is complete before conversion—especially for large purchases.
Note: Many Cypriot banks are still cautious with crypto-related transfers. This method is best for experienced users or where sellers explicitly allow it.
7. Mortgage Financing (Long-Term Payment Structure)
For qualified buyers, it’s possible to fund your Cyprus property through mortgage loans from a European or Cypriot bank. This method spreads payments over many years and often includes direct transfer to the property seller’s escrow.
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Speed: Weeks (loan approval + disbursement)
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Cost: Varies (interest rates, legal & bank fees)
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Currency: Euro
✅ Pro Tip: Get pre-approved before signing a property agreement. Some lenders require a down payment in cash, followed by staged disbursements.
Banks like Hellenic Bank and Bank of Cyprus offer local property financing, sometimes in cooperation with foreign banks.
8. Escrow Transfers (Legal Protection Route)
Most Cyprus real estate transactions use escrow accounts held by a licensed lawyer or notary. Your funds are held safely until the purchase contract conditions are fulfilled.
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Speed: Based on your lawyer’s timeline
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Cost: Moderate (escrow fees typically 0.1%–0.5% of amount)
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Currency: Euro
✅ Pro Tip: Always verify that your escrow provider is registered with the Cyprus Bar Association or Licensed Notary Register.
Escrow gives you legal peace of mind—especially for high-value property purchases or if you’re buying remotely.
9. Cash Payments (Strictly Limited)
It’s legal to bring up to €10,000 per person in undeclared cash into Cyprus. Anything over must be declared at customs under EU rules.
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Speed: Immediate
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Cost: None, but carries risk
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Currency: Euro
✅ Pro Tip: Avoid cash for large transactions. Most notaries and agents will require electronic records for AML compliance.
| Method | Speed | Cost | Ideal For | Notes |
|---|---|---|---|---|
| SEPA Transfer | 1–2 days / Instant | Free–€1 | EU/EEA buyers | Use SEPA Instant if available |
| SWIFT Transfer | 1–3 days | €15–€50+ | Non-EU or high-value transfers | Use “OUR” fees to avoid deductions |
| Wise / Revolut / Instarem | Minutes–1 day | Low & transparent | Fast app-based transfers | Check daily limits |
| CoverCY / Clearshift | 1 day | Low / Cyprus-optimized | Mid-to-large transfers | May require €5,000+ minimum |
| Currency Brokers | 1–2 days | Competitive FX | Property payments €50K+ | Offers forward contracts |
| Cryptocurrency | Minutes | Low blockchain fees | Experienced crypto users | Use licensed Cyprus providers |
| Mortgage Loans | Weeks | Loan interest | Long-term buyers | Requires approval + valuation |
| Escrow | Depends on contract | Escrow fee (0.1–0.5%) | Legal protection | Recommended for all property purchases |
| Cash | Immediate | None | Very small purchases | €10K undeclared limit per person |
Compliance Tips When Sending Money to Cyprus
Transferring large amounts of money for property purchases in Cyprus means complying with EU anti-money laundering (AML) rules. Whether you’re using a bank, broker, or fintech platform, be prepared to provide:
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Proof of identity (passport, ID card)
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Proof of funds (bank statements, income declaration)
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Purchase agreement or legal contract
If using crypto, or transferring from outside the EU, extra scrutiny may apply. Be proactive: your lawyer or escrow provider can guide you through documentation requirements to avoid delays.
💡 Bonus Tip: All large transfers (usually over €10,000) are automatically reported under EU financial monitoring regulations—so always transfer from a verified source in your name.
How to Save on Fees and Exchange Rates
Smart planning can help you avoid common (and costly) transfer mistakes. Here’s how to keep more of your money:
🔁 Use Mid-Market Rates
Platforms like Wise and Revolut offer the real exchange rate (also called the mid-market rate), without hidden markups like most banks.
📉 Lock in a Rate with a Broker
Property prices may stay the same—but exchange rates change daily. Using a forward contract with a currency broker protects your budget from swings of 2–4%.
🕒 Time It Right
Avoid sending funds over weekends or holidays—bank cut-off times and processing delays could push your payment back by days.
💳 Watch for Hidden Fees
Always compare total cost: not just the transfer fee, but also exchange rates, intermediary fees, and delivery delays.
Yes, some real estate agents and developers now accept crypto, but funds must be converted to euros and documented under AML rules. Work only with licensed crypto providers in Cyprus.
There’s no official limit for SEPA, but individual banks may cap single transfers. SEPA Instant supports transfers up to €100,000 in most countries.
No, Cyprus does not tax incoming property payments. However, buyers must pay transfer duties, VAT (if applicable), and legal fees during the purchase.
For small personal payments—yes. But PayPal isn’t ideal for large property-related transfers due to high fees and no support for escrow arrangements.
If you’re sending over €50,000, a broker will likely save you more. For smaller, one-time payments, Wise offers convenience and great rates.
Final Tips Before You Transfer
- Confirm IBANs, names, and reference fields with your Cypriot lawyer or agent
- Choose a method based on your country, urgency, and budget
- Keep digital and printed copies of your transfer confirmations
About Keynote Assets Ltd
Keynote Assets Ltd helps European clients purchase and manage property in Cyprus. We coordinate financing, legal support, and long-term management to maximize your investment.
Why Choose Us?
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European Expertise: Tailored solutions for clients across the EU and the UK.
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Personalized Service: Property options matched to your budget and goals.
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Comprehensive Support: From initial consultation to closing and ongoing management.
How It Works
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Consultation Call – We assess your needs, budget, and timeline.
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Property Selection – You receive curated property options.
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Site Visit – Visit shortlisted properties in Cyprus.
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Finalize Purchase – We handle contracts, payments, and compliance.
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Ongoing Management – We take care of rentals, maintenance, and returns.
