The side-by-side
Both programmes trade a property investment for EU residency. From there, they diverge sharply — in permanence, in price by location, in what you may do with the property, and in what happens to your tax bill. The table first, then the nuance.
| Cyprus PR — Regulation 6(2) | Greece Golden Visa | |
|---|---|---|
| Minimum investment | €300,000 + VAT, new residential from a developer (other routes exist) | €250,000–€800,000 by zone: €800k in Athens, Thessaloniki, Mykonos, Santorini & larger islands; €400k elsewhere; €250k for conversions/heritage |
| Permit duration | Permanent — issued once, for life | 5 years, renewable while the investment is held |
| Stay requirement | One visit every 2 years | None at all |
| Income requirement | €50,000/year secured from abroad (+ family increments) | None |
| Renting the property | Long-term rental permitted on additional properties; flexible portfolio building | Short-term (Airbnb-style) letting prohibited on the qualifying property |
| Property constraint | First sale from developer (residential route) | Single unit of at least 120 m² (main tiers) |
| Tax regime attached | Non-dom: 0% on worldwide dividends & interest for 17 years; no inheritance or wealth tax | Optional lump-sum regime for HNWIs; standard Greek rates otherwise |
| Citizenship horizon | Roughly 8 years of genuine residence (7 of the last 10, plus the final 12 months continuous) | Possible after 7 years of genuine residence |
| Processing | Typically 2–6 months | Substantial application backlog reported in 2025–26 |
Where Greece genuinely wins
Three places, and they matter. Entry price outside the hotspots: at €400,000 in regional Greece — or €250,000 via the conversion and heritage routes — Greece undercuts Cyprus's €300,000-plus-VAT. Zero stay requirement: Cyprus asks for a visit every two years; Greece asks for nothing. And no income test: Cyprus requires proof of €50,000 secured annual income from abroad; Greece does not look at your income at all.
If your goal is the cheapest possible Schengen access with no intention of ever engaging with the country — a residency card in a drawer — Greece's regional tier is hard to argue with. I'd tell you that in a consultation, and I'm telling you here.
Where Cyprus pulls ahead
Permanence. The Cyprus permit is issued once and lasts for life. The Greek permit runs five years at a time and exists only as long as you hold the investment — sell without replacing, and the residency dies with the sale. Over a twenty-year horizon, one of these is an asset and the other is a subscription.
The tax architecture around it. This is the gap most comparisons undersell. Cyprus residency plugs into the non-dom regime — zero tax on worldwide dividends and interest for 17 years, no inheritance tax, no wealth tax, and since the 2026 reform, a 5% dividend rate even for the domiciled. A Greek golden visa gives you the right to live in Greece; it does not, by itself, do anything kind to your tax bill. For anyone with a business or a portfolio, this difference is usually worth multiples of the entry-price gap.
Where the money buys in. Greece's honest headline for prime locations is now €800,000 — Athens, the major islands. Cyprus's €300,000 buys new-build in Limassol, an appreciating market where the property doubles as a genuine home or long-term rental asset. And Greece bans short-term letting of the qualifying property outright. Certainty of process. Cyprus files run two to six months when well-prepared; Greece has been processing through a backlog of tens of thousands of applications.
Choose Greece if
- Pure optionality is the goalA plan-B travel document at the lowest possible price
- You'll never engage with the countryNo relocation, no company, no tax planning attached
- Immediate Schengen matters mostGreece is already inside; Cyprus's accession is pending
- The income test excludes youNo €50,000 secured income, no Cyprus route — the decision often makes itself
Choose Cyprus if
- There's any real chance you'll base yourself hereFamily, company, or genuine part-year living
- You want residency working with your tax positionThe non-dom regime is the multiplier Greece lacks
- You value permanenceOne approval, for life — no renewal cycles, no rule changes mid-stream
- The property should be an asset, not a feeLimassol new-build with genuine rental and resale depth
Both programmes change without much notice — Spain's closed with a few months' warning. Whatever you choose, choose while it exists. Figures current as of July 2026: Greece thresholds per Law 5100/2024 as applied in 2026; Cyprus per Regulation 6(2) and the 2026 tax reform. This article is general information, not legal or tax advice — confirm your position with a licensed advisor before committing capital.