Beginning April 1, 2026, Greece will require all rent payments to be made through a bank account registered in the property owner’s name, according to tovima.com. The regulation, introduced under Law 5264/2024, strengthens earlier rules mandating electronic payments and is designed to improve transparency in the rental sector.
Under the new framework, landlords must register their bank account (IBAN) with the Independent Authority for Public Revenue (AADE) using a designated online platform. Rent paid to accounts belonging to third parties – including relatives, attorneys or property managers – will not be accepted.
If the account is joint, the owner’s name must appear first. In cases where a property has multiple landlords, each co-owner must declare a separate IBAN to receive their respective share of the rent.
Noncompliance comes with significant financial penalties. Landlords who do not follow the new system will forfeit the 5% tax deduction on rental income. Tenants who fail to pay rent via bank transfer will not qualify for housing assistance programs, including a new yearly rent subsidy of up to €800.
Businesses are also affected. Companies that pay rent outside the banking system will be unable to list it as a deductible expense, increasing their taxable income. For example, a firm paying €700 per month in rent could lose €8,400 in annual deductions if payments are not made through a registered bank account.
Officials say the reform aims to curb undeclared transactions, modernize rental practices and ensure housing benefits and tax breaks are properly monitored.
Source: tovima.com
