With an announcement dated 3 June 2026, the Cyprus Tax Department reminds that as part of the Tax Reform 2026, as from 1 July 2026 all payments of rent concerning immovable property situated in Cyprus need to take place exclusively in one of the following ways:
- bank transfers; or
- credit or debit cards; or
- any other recognised electronic means of payment.
The Tax Department clarifies that this obligation applies to natural as well as legal persons, regardless of the amount of rent and the nature of use of the immovable property rented.
It is stressed that recipients of rent concerning immovable property in Cyprus are not entitled to receive payment in any way other than the ones mentioned above.
