Police said Thursday that the 97 men, 20 children - including 14 unaccompanied minors - and three women told authorities they each paid people traffickers $4,000 (3,620 euros) for a spot on the boat.
Their vessel was spotted Wednesday sailing off Cape Greco on the southeastern tip of the island nation and was escorted to an area harbor.
The migrants said they set sail from Turkey's southern port city of Mersin after crossing the Syrian-Turkish border on separate dates.
Cyprus officials say a migrant influx is taxing the small country's ability to host so many arrivals and is asking fellow European Union member states to share the burden.
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