We would like to inform you that, according to the latest official announcement issued by the Cyprus Tax Department and pursuant to Article 48A of the Assessment and Collection of Taxes Law (Law 4/1978), as amended following the recent tax reform, all rent payments relating to immovable property situated in Cyprus must, with effect from 1 July 2026, be made exclusively through one of the following payment methods:

• Bank transfer;
• Debit or credit card payment; or
• Any other recognised electronic means of payment.

This requirement applies to all natural and legal persons, irrespective of the amount of rent payable or the nature of the property’s use. Accordingly, recipients of rental income derived from immovable property located in Cyprus are prohibited from accepting rent payments in cash or through any other non-electronic means and must ensure compliance with the prescribed payment methods.