Cash Rent Payments Banned in Cyprus from 1 July 2026
From 1 July 2026, rent for any property in Cyprus must be paid electronically, regardless of the amount or how the property is used. Landlords may no longer accept cash.
By RealDeal team · 2 min read · Published 1 Jul 2026 · Updated 8 Oct 2026
From 1 July 2026, rent for any property in Cyprus must be paid exclusively by electronic means, the Tax Department said. The rule comes from Article 48A of the Assessment and Collection of Taxes Law (N.4/1978), added by the tax reform that took effect at the start of the year. It applies to all individuals and companies, regardless of the amount of rent or the type of property use.
Accepted payment methods
- Bank transfer.
- Debit or credit card.
- Any other recognised electronic payment method.
Cash and other non-electronic methods are no longer accepted. The Tax Department stressed that anyone receiving rent must not collect it in any other way.
No €500 threshold
Some earlier summaries of the tax reform said the rule would apply only to rent of €500 or more. The Tax Department's guidance makes clear there is no minimum: the obligation applies whatever the amount.
What landlords and tenants should do
- Landlords: give tenants bank details, stop accepting cash, and make sure leases specify electronic payment.
- Tenants: set up a standing order or card payment and keep the records.
- Property managers: check that rent collection for every client follows the new rules.
Electronic payments also create a clear record of rent paid, which can help both sides in a tax audit or a dispute.
This article is for information only and is not tax or legal advice.