Article 48A Β· in force since 1 July 2026
Rent in Cyprus must now be paid electronically
Since 1 July 2026, rent for any property in Cyprus has to be paid by bank transfer, debit or credit card, or another recognised electronic method. Cash is no longer an accepted way to pay rent β and a landlord may not accept it. Here is what the rule says, who it covers, and what to change.
Last reviewed 16 September 2026
What the law says
The rule is Article 48A of the Assessment and Collection of Taxes Law, introduced with the 2026 tax reform. From 1 July 2026, rent relating to immovable property in Cyprus must be paid exclusively by bank transfer, debit or credit card, or another recognised electronic means.
The person receiving the rent may not accept it any other way.
Who it applies to
- Every landlord β individuals and companies alike
- Every kind of property: homes, shops, offices and industrial space
- Every amount β there is no threshold below which cash is still allowed
What happens if rent is paid in cash
The consequence the sources spell out most clearly falls on the tenant: rent that was not paid electronically may be disallowed as a deductible expense. For a business tenant that is a real cost, and it is why tenants increasingly insist on paying by transfer.
For a landlord, the practical risk is weaker records. Rent that cannot be traced through a bank or card statement is harder to evidence if your figures are ever questioned.
What to do now
- Give every tenant your IBAN in writing, and ask them to put the property and month in the transfer reference
- Add an electronic-payment clause to new and renewed tenancy agreements
- Stop accepting rent in cash β including part payments
- Keep the bank reference for each payment alongside the month it covers
- Check that every payment since 1 July 2026 is recorded as a transfer or a card payment
How Stegi keeps the record
How each payment arrived
Every rent payment records bank transfer, card or cash, and the bank or card reference that shows it.
A check on everything since July
The rent ledger shows how many payments since 1 July 2026 are electronic, and flags any recorded as cash or without a method.
A statement for your accountant
One PDF per year with rent by property, how each payment arrived and the Article 48A check, ready to hand over.
Try it with your own properties
Fourteen days, every property, no card.
Sources
This page explains the rule in plain language. It is not legal or tax advice β check how it applies to your situation with your accountant or lawyer.