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If you pay your rent in cash, that habit is about to become a thing of the past.
The Tax Department is reminding the public that, starting July 1, all rent payments for properties in Cyprus must be made electronically, marking a significant change for thousands of tenants and landlords across the island.
Under the new rules, rent can only be paid through a bank transfer, debit or credit card, or another recognized electronic payment method. Cash payments will no longer be permitted.
The measure forms part of Cyprus’ broader tax reform effort and applies to all rental agreements involving property in the Republic, regardless of the amount of rent being paid or whether the property is used as a home, office, shop or other type of premises.
For many Cypriots, especially those who have long preferred cash transactions, the change may require a shift in routine. It is not uncommon for tenants and landlords to settle rent payments in person, particularly in smaller communities or in arrangements that have existed for years.
However, tax authorities say the new system is designed to improve transparency, create a clearer payment trail, and reduce opportunities for undeclared income.
The Tax Department stressed that landlords will not be allowed to accept rent through any method other than the approved electronic channels. Likewise, tenants will need to ensure their payments are made through the banking system or another recognized digital platform.
The requirement applies to both individuals and businesses.
The move comes as Cyprus continues efforts to modernize its tax system and increase the use of digital transactions in everyday economic activity.
For tenants, the change may offer an added benefit: a clear record of every payment made. For landlords, it means rent collections will now leave a documented trail that can be easily verified if questions arise in the future.
