03/07/2026
As part of the ongoing Cyprus tax reform, from 1 July 2026, rent relating to immovable property situated in Cyprus must be paid exclusively through electronic payment methods.
The new requirement is intended to enhance transparency, improve tax compliance and reduce the use of cash transactions.
Accepted payment methods
Rent payments must now be made using one of the following:
- Bank transfer
- Debit card
- Credit card
- Any other recognised electronic payment method
Cash payments or any other non-electronic method are no longer permitted.
Who is affected?
The new rules apply to all landlords and tenants, including both:
- Individuals; and
- Companies and other legal entities.
Importantly, the obligation applies regardless of:
- the amount of the rent; or
- whether the property is used for residential, commercial or any other purpose.
Important for landlords
Landlords receiving rental income from immovable property in Cyprus must not accept rent in cash or by any other non-approved payment method.
Maintaining clear electronic records of rental payments will also facilitate tax compliance and provide evidence of payment where required.
How can we help
Our tax professionals can assist landlords, tenants and businesses with:
- Understanding the new electronic payment requirements
- Reviewing existing lease arrangements
- Tax compliance and record-keeping obligations
- Rental income taxation
- General tax advisory services
PGE&Co remains at your disposal for any clarifications and for further assistance that might be needed on this or on any other matter.