Pursuant to Article 48A of the Law on the Collection of Taxes and Receipts (Law No. 4/1978), as amended under the Cyprus Tax Reform 2026, all payments relating to immovable property located in the Republic of Cyprus, from 1 July 2026 must be made exclusively through electronic payment methods, including:
- Bank transfer;
- Payment by debit or credit card; or
- Any other recognised electronic means of payment.
This obligation applies to all physical and legal persons, irrespective of the amount of rent payable or the type of use of the immovable property.
Property owners and tenants in Cyprus are advised to review their payment arrangements and ensure compliance with the new requirements, which come into effect on 1 July 2026. All rental payments should therefore be made through one of the approved electronic payment methods listed above.
*Failure to comply with the above provisions may affect the deductibility of the relevant rental expense for income tax purposes.
Should you need any farther clarification, please do not hesitate to contact the accounting department of Globalserve Consultants Ltd.
English 
Russian 
Greek