Polls predict outgoing president Nicos Anastasiades will win the election.
Greek Cypriots are voting for a new president after a campaign dominated by the economy and the divided island's peace process.
As of a poll published last week, Nicos Anastasiades is favourite to top the first round with around 42 per cent of the vote, though barring a major unset, is unlikely to win outright.
He faces two main challengers.
Nicholas Papadopoulous, the son of Cyprus' late President Tassos Papadopoulos. The centre-right candidate has accused Anastasiades of giving too much away in talks with the minority Turkish Cypriots.
Independent Stavros Malas, who is backed by the communist-rooted AKEL party, remains the other serious contender should there be a run-off next Sunday.
Both Malas and Padadopoulous are predicted to finish in second and third place respectively, with 25 per cent and 22 per cent of the vote, according to the poll.