Cyprus' banking institutions are based on the British system. With numerous branches conveniently located throughout Cyprus, its banking system is modern and efficient and uses up-to-date technology. Branches of all international banks can be found across Cyprus and Visa and Europay credit cards are accepted island wide. Local and external deposit accounts can be easily opened by foreigners who choose to retire or do business in Cyprus.
For foreigners buying real estate in Cyprus, most banks will be able to provide finance in any currency. The standard requirement is 30% to 35% of personal contribution and approximately 15 to 20 years of repayment. Expect - Libor + 1.50% to 2% p.a.