Mandatory electronic rent payments in Cyprus from July 1, 2026

Starting July 1, 2026, new legislation in Cyprus mandates that all rent payments for properties within the Republic must be made exclusively through electronic means, such as bank transfers or debit/credit cards. This measure, introduced via the amendment to the Law on Assessment and Collection of Taxes (Law 243(I)/2025 amending Law 4/1978), explicitly prohibits the use of cash for rental transactions. The Welfare Service for Displaced Persons (YMAPE) of the Ministry of Interior announced that this regulation applies to all natural and legal persons regardless of rent amount or property type. For subsidy recipients, manual receipts will no longer be accepted, and failure to provide electronic proof of payment during audits will result in the immediate termination of benefits. While some industry stakeholders highlight the potential for increased transparency and reduced tax evasion, others have raised concerns regarding practical implementation challenges. The government warns that non-compliance will lead to sanctions for both landlords and tenants. All current and prospective beneficiaries are advised to finalize electronic payment arrangements with their landlords before the deadline.