Cash rent payments are set to become a thing of the past in Greece. From 1 October 2026, rent will need to be paid through the banking system, with the rules applying to both residential and commercial leases.
The change is designed to make rental transactions easier to trace and forms part of a wider effort to improve tax compliance and reduce undeclared rental income.
For landlords and tenants alike, the practical message is simple: rent payments will need to leave a clear banking record.
With the new rules taking effect on 1 October 2026, landlords and tenants should make sure they are ready for the new payment arrangements.
Under the new rules, rent payments through the banking system will become mandatory.
Bank records will serve as proof of payment, meaning that every rent payment must be made in a way that creates an electronic record and allows the transaction to be verified.
Cash payments will no longer be recognised as valid proof that rent has been paid.
When will mandatory bank payments take effect?
The measure was originally due to come into force on 1 April 2026, but a six-month extension was granted to allow time for the necessary technical changes to be completed.
The new rules will now take effect on 1 October 2026, when the new framework for rent payments through the banking system comes into force.
The extension also allows time for the relevant systems to be integrated with the new Property Ownership and Management Registry (MIDA) of Greece’s Independent Authority for Public Revenue (AADE).
What do landlords and tenants need to know?
As part of the new process, the bank account (IBAN) used to receive rent payments will need to be declared in accordance with the procedures to be introduced by AADE.
The account will need to be linked to the property owner, while specific provisions are expected to apply to jointly owned properties and joint bank accounts.
For tenants, the main change is that every rent payment will need to be made through the banking system, ensuring that there is a clear record of the transaction and proof of payment.
What about commercial properties?
The new requirement is not limited to residential properties.
It also applies to commercial leases. Businesses and self-employed professionals renting offices, shops, warehouses or other commercial premises will therefore also be required to pay their rent through the banking system.
Having a clear banking record of each payment will consequently become particularly important for the proper accounting and tax treatment of commercial leases.
What happens if the new rules are not followed?
Failure to comply with the mandatory bank payment requirement may have consequences for both landlords and tenants.
Για τους ιδιοκτήτες προβλέπεται απώλεια φορολογικών ευεργετημάτων, όπως η έκπτωση 5% επί του εισοδήματος από μισθώματα, όταν δεν αποδεικνύεται ότι η πληρωμή πραγματοποιήθηκε μέσω του τραπεζικού συστήματος.
For tenants, paying rent outside the banking system may affect eligibility for certain government benefits or refunds where an electronic record of the transaction is required.
What should landlords and tenants look out for?
Ενόψει της εφαρμογής του νέου μέτρου από την 1η Οκτωβρίου 2026, ιδιοκτήτες και ενοικιαστές είναι σημαντικό να προσαρμοστούν εγκαίρως στον νέο τρόπο καταβολής των μισθωμάτων.
In particular, they should:
- make rent payments through the banking system;
- ensure that the correct IBAN is used and declared as required;
- keep records of all rent payments; and
- keep up to date with any further guidance on how the new rules will be implemented.
The move to mandatory bank payments marks a significant change for the property market and makes accurate, traceable records of rental transactions more important than ever.
AFS is monitoring the latest tax developments and will keep you updated as further guidance on the implementation of the new rules becomes available.
