The Employers and Industrialists Federation (OEB) informs you that, according to an announcement by the Tax Department, the mandatory payment of rents related to immovable property within the Republic of Cyprus exclusively through electronic means of payment will be implemented from July 1, 2026 .
The relevant obligation arises from article 48A of the Tax Assessment and Collection Law L.4/1978, as enacted in the context of the tax reform.
Based on the new regulation, the payment of rents should only be made through the following ways:
- Bank transfer,
- Payment by debit or credit card, or
- Any other recognized electronic means of payment.
The obligation applies to all natural and legal persons, regardless of:
- the amount of rent paid, and
- the type of use of the immovable property (e.g. professional, commercial or other use).
At the same time, the beneficiaries of rents for immovable property within Cyprus are not allowed to accept the collection of rent in any other way than the prescribed electronic means of payment.
OEB members who pay or collect rents are invited to ensure that their relevant procedures and practices have been appropriately adapted to comply with the new legislative requirement.
For more information or for any clarifications, members can contact the Business Development Department of OEB.
