The Cyprus Tax Department has reminded the public that rent payments for properties in Cyprus must be made exclusively through electronic payment methods from July 1, 2026.
The requirement is set out in Article 48A of the Assessment and Collection of Taxes Law N.4/1978, introduced as part of the country’s tax reform framework.
New payment rules for tenants and landlords
According to the Tax Department, all rent payments relating to immovable property located in Cyprus must be made through:
- Bank transfers
- Debit card payments
- Credit card payments
- Any other recognised electronic payment method
The new obligation applies to all individuals and legal entities, regardless of the amount of rent or the type of property use.
Cash payments no longer permitted
The Tax Department said that recipients of rental income from property located in Cyprus will no longer be permitted to accept rent through any payment method other than those specified by law.
This means landlords must ensure that all rent payments are received electronically once the new provisions come into force on July 1, 2026.
Part of broader tax reform
The measure forms part of Cyprus’ wider tax reform efforts aimed at increasing transparency in financial transactions and improving compliance with tax regulations.
Authorities are urging both tenants and landlords to make the necessary arrangements ahead of the implementation date to ensure compliance with the new legal requirements.
Also read: Rent prices in Cyprus surge, exceeding young couples’ wages
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