The Greece Golden Visa and Cyprus permanent residency are the two closest programmes for anyone who needs a foothold in the EU without relocating: a real-estate investment, status for the whole family, and no requirement to live in the country. But behind that similarity is different mechanics — Greece gives a renewable residence permit at a lower threshold, Cyprus a permanent status straight away for slightly more. Here is how they differ in practice and how to choose for a specific goal.
In short: the key difference
- Greece is a residence permit you renew every 5 years for as long as you own the property. Lower threshold (from €250,000), broader family (including the parents of both spouses).
- Cyprus gives permanent residency straight away — an indefinite status. Higher threshold (from €300,000 + VAT), but the status doesn't need reissuing — only confirming with a visit once every 2 years.
- Neither programme grants citizenship directly, and neither automatically creates tax residency — those are separate, longer routes.
The table: what weighs in the decision
| Parameter | Greece (Golden Visa) | Cyprus (PR) |
|---|---|---|
| Threshold (1 applicant) | from €250,000 | from €300,000 + VAT |
| Real turnkey budget | from €287,425 (family of 4) | from €323,000 (1 applicant) |
| Type of status | residence permit, renewed every 5 years | PR, indefinite |
| Processing time | 2–3 mo (permit) + 5–6 mo for cards | 6–8 months |
| Presence requirement | none | a visit once every 2 years |
| Access for RF/RB citizens | with a second (non-sanctioned) citizenship | directly, on the national passport |
| Family composition | spouse (incl. common-law); parents of both spouses; children under 21 (status kept to 24) | spouse; children under 18 (to 25 if dependent students); parents with extra income |
| Extra income requirement | none | from €50,000/year from abroad for the main applicant |
| Schengen | included | Cyprus is in the EU but not in Schengen |
| Tax regime (if you become resident) | standard Greek | non-dom — exemption from tax on dividends/interest for up to 17 years |
| Path to citizenship | separate, requires genuine residence | naturalisation ~7–8 years, real presence; the separate Cyprus CIP scheme is closed |
For RF and RB citizens — a different entry
Here the programmes are asymmetric, and it's often the deciding factor. Cyprus is open on a Russian or Belarusian passport directly — no second citizenship is needed to apply, you just meet the standard programme conditions. Greece is not available directly on an RF/RB passport: the application only goes through with a second, non-sanctioned citizenship — for example Vanuatu, obtainable in 2–3 months. If you don't yet hold such a citizenship, Cyprus closes the task faster and without the intermediate step.
Three decision scenarios
1. You need the lowest entry threshold and the broadest family — Greece. If the application includes the parents of both spouses and adult children up to 24, Greece takes that whole composition in a single application. Plus the threshold is €50,000 below Cyprus.
2. You want a status you never have to renew — Cyprus. If the priority is to set it up once and forget about reissuing the status every 5 years, Cyprus PR removes that question: you only confirm it with a visit once every 2 years, not by going through the whole procedure again.
3. You only hold an RF/RB passport and have no second citizenship — Cyprus by default. For this case Greece requires an extra step (first obtain any non-sanctioned citizenship); Cyprus does not.
What both options equally do NOT give
- Automatic tax residency. Neither a Greek permit nor a Cypriot PR makes you a tax resident by itself — residency is determined by the actual number of days in the country (the 183-day rule and related tests), not by holding a status.
- EU citizenship "in the package". Both statuses are about the right of residence and mobility, not a passport. The path to citizenship in either country is separate, long and requires real, not formal, residence.
- Cancelling the duty to report a residence permit / PR. For a Russian citizen this is a separate procedure with its own deadline regardless of which of the two programmes you choose; CFC and CRS-exchange rules also remain in force.
Risks worth knowing honestly
- Greece's €250,000 threshold does not apply to any property — only to objects in designated areas being redeveloped from commercial to residential. For other objects the entry threshold is higher.
- Cyprus ties the status to a visit once every 2 years — a long absence can cost you the status; and the object must be a first sale (bought from the developer).
- Cyprus is not in Schengen — if Schengen mobility here and now is the priority, weigh that separately from the residency question.