Mandatory Electronic Payment of Rent as of 1 July 2026
The Tax Department has issued an announcement regarding the mandatory electronic payment of rent for immovable property in Cyprus, effective as of 1 July 2026.
According to the announcement, all rent payments relating to immovable property in Cyprus must now be made exclusively through electronic means. Accepted payment methods include bank transfer, debit or credit card, or any other recognised electronic payment method.
This obligation applies to all individuals and legal entities, regardless of the rent amount or the type of use of the property.
Rent recipients are also required to comply with the new rules and may not accept rent payments through any method other than the approved electronic payment options.
This measure forms part of the broader effort to enhance transparency and compliance in rental transactions.
How Can We Help?
At C.Kounnis & Partners, we assist individuals and businesses with a wide range of tax compliance and advisory matters, including rental income reporting, tax return preparation, tax planning, and ongoing tax support.
If you require further information or assistance regarding the mandatory electronic payment of rent for immovable property in Cyprus, our team will be happy to assist.
For more information or assistance, you can contact us at: 22484429 or [email protected]