Hi - I can only speak from my experience so far in the tourist area in Paphos. The majority of the locals speak English. Once you get to meet people you can normally find someone who would help you translate if necessary, for forms, etc. I have managed to open a bank account with no problems.

I came out looking to learn the language and so far have 12 words under my belt, ha ha. It's not much but it's a start and I think the Cypriots like it when you at least try a bit of Greek, well they're always smiling at me but maybe they're just laughing at my pronounciation!

Good luck
Jilly