Residency by investment in Greece and Cyprus: thresholds and qualifying assets (October 2026)
Greece sets €800k, €400k and €250k real-estate thresholds by area and property type; Cyprus requires a €300k qualifying investment plus secured income.
Rules change often and eligibility depends on individual facts. The official texts prevail over this summary.
Greece: investor residence permit (type B.5, "Golden Visa")#
Legal basis. Article 100 of the Migration Code (Law 5038/2023), as amended by Article 64 of Law 5100/2024 (ΦΕΚ Α' 49/5.4.2024). The Migration Ministry publishes a consolidated text (Greek PDF) and a Golden Visa information page.
Real-estate thresholds (minimum acquisition value)#
| Area / case | Minimum | Conditions |
|---|---|---|
| Attica Region; Thessaloniki regional unit; Mykonos and Thira (Santorini) regional units; islands with population over 3,100 | €800,000 | One single property. If built, or if a building permit has been issued: at least 120 m² of main spaces |
| All other areas | €400,000 | One single property. If built or permitted: at least 120 m² of main spaces |
| Conversion of a property to residential use, or restoration of a listed building | €250,000 | No minimum area. A conversion must be completed before the application and on or after 5 April 2024 (circular 1/2026) |
The Housing Policy Portal describes the 2024 change as an increase from €500,000 to €800,000 in the higher-threshold areas, and from €250,000 to €400,000 elsewhere.
Permit basics#
- Duration. The law provides for a five-year permit that can be renewed.
- Other routes in Article 100. Ownership through a wholly owned Greek or EU legal entity; long-term leases of hotel or tourist-complex units at the same thresholds; property acquired by inheritance or parental grant, at objective value.
Circular 1/21.04.2026#
The General Secretariat for Migration Policy issued circular 1 of 21 April 2026 (ΑΔΑ ΨΣΙ746ΜΔΨΟ-ΔΧΜ) on applying Article 100 (circulars list). Main clarifications:
- "Single property." Storage and parking spaces count towards the investment value only if bought by the same investor under the same contract, in the same building, as auxiliary spaces. They do not count towards the 120 m².
- Joint ownership. Where two or more investors co-own a property at €400,000 or €800,000 per share, the 120 m² test applies to the property as a whole, not to each share.
- €250,000 route. A converted or restored property can be used under this route only once. If it is resold to another third-country national after the first permit, the new buyer cannot obtain a permit at the €250,000 threshold.
- Short-term letting. Paragraph 7A of Article 100 bars short-term letting of qualifying property in the sharing economy. The circular states this covers only letting through digital platforms (Article 111, Law 4446/2016), not long-term leases or subletting to tourism businesses.
- Insurance. Valid private insurance, or foreign insurance expressly covering Greece, is filed with the application; if missing, it is requested with a 30-day deadline.
- Passport. A certified copy of a valid passport or travel document is required.
Short-term rental restrictions that apply to all owners are in the short-term rental rules note.
Cyprus: immigration permit by investment (Regulation 6(2))#
Legal basis and criteria. Regulation 6(2) of the Aliens and Immigration Regulations. The criteria in force are the 4th revision, applicable since 2 May 2023, published by the Migration Department.
Investment (minimum €300,000, in one category)#
- (A) Residential. A house or apartment bought from a development company as a first sale, worth at least €300,000 plus VAT. Up to two units are allowed.
- (B) Other real estate. Offices, shops, hotels or related developments, worth €300,000 in total. Resales are allowed.
- (C) Company share capital. At least €300,000 in the share capital of a Cyprus company with a physical presence in Cyprus and at least five employees.
- (D) Investment funds. Units worth €300,000 in a Cyprus AIF, AIFLNP or RAIF that invests in Cyprus.
Source of funds. The money must come from abroad and be paid into the seller's account at a Cyprus bank. If the investment is sold without replacement, the permit can be cancelled.
Other criteria (summary)#
- Income. A secured annual income of €50,000, plus €15,000 for a spouse and €10,000 per dependent minor child. For category (A), the income must come from abroad.
- Character and insurance. Clean criminal record certificates and health insurance.
- Employment. No employment in Cyprus, except as a director of the company invested in.
- Fees and processing. Application fee €500, plus €70 per Alien Registration Certificate. Indicative examination time is about two months.
- Validity. The permit card is valid for ten years. The permit lapses after two years' absence from Cyprus.
The separate Category F permit is based on income, not investment. Its stated minimums are €9,568 a year for the applicant and €4,613 per dependant (Migration Department).
Related data: Greek market overview · Cyprus snapshot