Transferring money to Cyprus for a property: euro area, no exchange controls, one cash rule.
// Short answer
Cyprus is in the euro area and has no exchange restrictions, so moving money in to buy property, or out after a sale, needs no approval. The capital controls imposed in 2013 were fully lifted in April 2015. The rules that do apply are the EU cash declaration at €10,000 and, since July 2026, electronic-only rent.
Rules and rates as of September 2026. Bills to tighten the rules for non-EU buyers were before the House of Representatives when this was written, so check the dated items again before you sign. Every figure links to its source.
On this page
Do I need approval to send money to Cyprus to buy property?
No. As a euro area member, Cyprus has no exchange restrictions, and non-residents may freely repatriate proceeds from investments. Capital moving within the EU is covered by the EU's free-movement-of-capital rules. The approval a non-EU buyer needs is the Council of Ministers permit for the property itself, not for the money.
That permit is a separate step: foreign ownership in Cyprus, explained.
Sources
Does Cyprus still have capital controls?
No. Cyprus imposed capital controls in 2013 during its banking crisis, the first in the euro area. They were lifted in stages and the last were removed in April 2015.
If a guide you read still mentions transfer limits, check its date.
Do I have to declare cash when entering Cyprus?
Yes, at €10,000 or more. Anyone entering or leaving the EU carrying €10,000 or more in cash must declare it to customs under Regulation (EU) 2018/1672. A property payment should go by bank transfer anyway: from 1 July 2026 even rent must be paid electronically.
The regulation text could not be retrieved for this page; check the customs rules for your route before you travel.
Sources
Can a non-resident get a mortgage in Cyprus?
Yes, on tighter terms. One 2026 guide quotes a maximum loan-to-value of 60% to 70%, so a 30% to 40% deposit, with rates of about 4% to 5% in early 2026. Those are market observations, not lender terms, and the Central Bank's caps were not confirmed for this page.
Terms are lender-dependent. Get them in writing before you sign a contract. The Lands Office charges 1% of the amount advanced to register the mortgage.
Can I take the money out of Cyprus when I sell?
Yes. There is no exchange restriction on repatriating sale proceeds. The friction on the way out is tax and paperwork: 20% capital gains tax on the gain, and a tax clearance certificate (Form N.313) before the transfer can be registered.
The exit, step by step: selling property in Cyprus as a foreigner.
// Buying in Cyprus?
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See the $499 report, page by pageFrequently Asked Questions
Is there a limit on sending money to Cyprus for a property?
When did Cyprus lift its capital controls?
Can rent in Cyprus be paid in cash?
What deposit does a non-resident need for a Cyprus mortgage?
Header photo: PomposPompou, CC BY-SA 4.0, via Wikimedia Commons. All credits: image credits.