Since Paypal enabled to connect Bank accounts in Cyprus through your IBAN it is easy to send Money from your Paypal account to tour Bank in Cyprus.
In your Paypal account select 'Money' (top Menu) then 'Transfer Money', the 'Balance Manager' function is not enabled as of November 21, 2015 in Cyprus.
Select the sending account and the receiving accounts from the dropdowns then the amount to be transferred and validate. That's all to it.
A transfer takes a couple of business days to be credited in your bank account at no fees. It seems to follow SEPA rules.
|Withdraw Funds to Bank Account (Unique Transaction ID # 1XY23456Z78901234)|
Total amount: -€50.00 EUR
Fee amount: 0.00 EUR
Net amount: -€50.00 EUR
|Date:Nov 14, 2015
|Transfer to:||Name of your Bank in Cyprus (Confirmed) x-1234|
|16/11/2015||INWARD FT1234567890IN123 by PayPal Europe S.a.r.>XYZ1BZ2345LW67K8 PAYPAL>XYZ1BZ2345LW67K8 PAYPAL||FT1234567890IN12||€50,00|
In this example the transfer of the funds from the Paypal account to a Bank account in Cyprus took 2 days.