Electronic Rent Payments To Become Mandatory In Cyprus From July 2026

The New Mandate

From 1 July 2026, all rent payments for property located in Cyprus must be made through electronic payment methods, according to an announcement by the Cyprus Tax Department. The requirement is set out in Article 48A of the Law on Tax Collection and Receipts (Law No. 4/1978).

Universal Compliance Requirements

Both individuals and legal entities will be subject to the new regulation, regardless of the amount of rent or the type of property involved. Accepted payment methods include bank transfers, debit cards, credit cards and other recognised electronic payment channels.

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Enhancing Transparency And Efficiency

Under the new rules, rent payments will no longer be accepted through non-electronic methods. Implementation of the measure forms part of the broader transition toward electronic transactions in the property rental sector.

Preparing For A Digital Future

Property owners, tenants and businesses are expected to ensure that payment arrangements comply with the new requirements before the rules take effect on 1 July 2026. All qualifying rental payments made after that date must be made using electronic payment methods.

The Future Forbes Realty Global Properties

Cyprus Employment Rises 1.7% To 525,167 In Q2 2026

by THEFUTURE.TEAM

September 7, 2026

Cyprus employment increased 1.7% year over year to an estimated 525,167 people in the second quarter of 2026, according to the state statistical service, Cystat. Employees accounted for 472,254 of the total, while 52,913 were self-employed. The increase points to continued labor market growth across both wage employment and independent work.

Trade, Construction And Leisure Lead Employment Growth

Wholesale and retail trade, including motor vehicle and motorcycle repair, recorded some of the strongest employment gains, alongside construction and arts, entertainment and recreation.

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Those sectors are closely linked to domestic economic activity, with trade reflecting consumer demand and construction reflecting investment. Employment growth in leisure-related industries also points to continued activity in consumer-facing services.

Hours Worked Rise Faster Than Employment

Labor input increased faster than headcount. Cystat estimated that employees and other workers put in 246.57 million hours during the second quarter, up 2.2% from a year earlier.

The increase suggests that businesses were not only employing more people but also recording higher total hours worked. Wholesale and retail trade, construction, and arts, entertainment and recreation again recorded the strongest gains.

Labor Market Expansion Remains Broad-Based

The combination of higher employment and hours worked points to continued expansion in Cyprus’ labor market during the second quarter. The pace remains moderate, but gains across several major sectors indicate that labor demand continued to support economic activity.

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