Reviewed by Jane Katkova, Founder & Licensed CICC ConsultantKey points
- Cyprus is in the EU but is not part of the Schengen area.
- The residence permit carries no visa-free travel rights in other European countries.
- Cyprus plans to join Schengen, but no date is in force in 2026.
- The permit is kept with one visit to Cyprus every two years.
Cyprus and the Schengen area
Cyprus is a member of the European Union but is not part of the Schengen area. The permanent residence permit granted under Regulation 6(2) of the Aliens and Immigration Regulations therefore gives the right to live in Cyprus and nothing more for travel elsewhere in Europe. Cyprus plans to join Schengen, but accession is not in force in 2026.
Travel rights by passport
- US and Canadian citizens already have 90 days in 180 in the Schengen area on their own passports.
- Holders of other passports need a Schengen visa, with or without the Cypriot permit.
Applicants whose main objective is Schengen mobility are usually better served by a permit from a Schengen state. We compare those options in our guide to golden visa programmes in Europe.
What the Cyprus permit does provide
The permit is indefinite from day one and is decided in two to six months. The investment is €300,000 plus VAT in first-sale residential property, other real estate, company shares or fund units, together with a secured annual income of at least €50,000 from abroad. One visit every two years keeps it; if you stay away for more than two years, the permit is cancelled. A spouse and children under 18 are included.
Citizenship is available only by ordinary naturalisation, after about eight years of actual residence with Greek B1. Investor citizenship ended on 1 November 2020. The conditions are set out on our Cyprus permanent residence page. To check whether Cyprus or a Schengen-state permit suits your travel, book a consultation with our team.
People also ask
How much income do you need for Cyprus permanent residence?
At least €50,000 a year of secured income from sources outside Cyprus, plus €15,000 for a spouse and €10,000 for each dependent child. A couple with two children shows €85,000. Salary, pensions, dividends, rents and fixed deposits count with evidence; capital sitting in a bank account does not.
How long does it take to get Portuguese citizenship through residence?
Ten years of legal residence, counted from your first residence card, under the Nationality Law in force since 19 May 2026. EU and CPLP nationals qualify after seven years. You also need A2 Portuguese and a clean record. Applications lodged before 19 May 2026 follow the old five-year rule.
Can you still get a Portugal golden visa by buying property?
No. Real estate and real-estate funds were removed from the Portugal golden visa on 7 October 2023. The routes in 2026 are a €500,000 CMVM-registered fund, €500,000 in research, a €250,000 cultural donation (€200,000 in low-density areas) and company or job-creation routes. You may buy a home, but it will not count.
How much does the Greece golden visa cost in 2026?
From €250,000 for an approved commercial-to-residential conversion or listed-building restoration, €400,000 for a standard home in most of Greece, and €800,000 in Attica, Thessaloniki, Mykonos, Santorini and islands with more than 3,100 residents. Add about 3.09% transfer tax, 3–4% notary and legal fees, and about €2,000 state fee per adult.
Can you rent out a Greece golden visa property on Airbnb?
No. Long-term lets are allowed, but short-term rental on Airbnb-style platforms is banned for Greece golden visa property. The fine is €50,000 and the residence permit can be revoked. Plan your yield on annual tenancies, not tourist lets, and expect a Greek property tax bill (ENFIA) plus tax on any Greek rental income.