Portugal vs Cyprus Golden Visa: 2025 Guide

Compare Portugal and Cyprus's residency-by-investment programs to find the best path for your EU residency, weighing investment costs, residency rules, and citizenship options. For complete details, see our Portugal Golden Visa guide.

Introduction to Portugal & Cyprus Golden Visas

Both Portugal and Cyprus offer attractive residency-by-investment programs that provide non-EU citizens with a pathway to European residency. These programs differ significantly in investment requirements, residency conditions, and paths to citizenship. To compare with other options, see our guide to the best Golden Visa programs worldwide.

Portugal's Golden Visa program has evolved since 2023, shifting focus from real estate to investment funds, business creation, and cultural contributions. Cyprus's Permanent Residency program centers on real estate investments and offers immediate permanent residency status.

This comprehensive guide compares both options to help you determine which program might be more suitable for your specific goals, whether they involve eventual EU citizenship, tax optimization, or lifestyle preferences.

Lisbon waterfront and Limassol harbor showing Portugal and Cyprus landscapes

Quick Comparison

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Portugal

Citizenship: 5 years, A2 Portuguese

Stay: 7 days/year minimum

Fast Citizenship Path
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Cyprus

Investment: €300K investment

Citizenship: 7 years, B1 Greek

Stay: 1 visit/2 years

Tax: Non-dom tax benefits

Permanent Residency

Investment Options

Both programs offer distinct investment paths tailored to different goals. For Portugal's fund options, explore our comprehensive fund list.

Investment Type Portugal Cyprus
Real Estate N/A €300K (residential)
Investment Funds €500K (venture capital) €300K (collective funds)
Business Investment €500K (10 jobs, or 5 in low-density) €300K (5+ employees)
Cultural Donation €250K (€200K low-density) N/A
Scientific Research €500K N/A

Portugal offers more diverse investment options but at higher price points, while Cyprus maintains a consistent €300K threshold across its investment paths with real estate being the most popular option.

Residency Requirements

Portugal: Requires 7 days/year in the first year, then 14 days every 2 years. Residency permit renewed every 2 years, with investment maintained for 5 years.

Cyprus: No minimum stay requirement; just visit once every 2 years. Grants permanent residency for life, with residence cards renewed every 10 years. Investment must be maintained indefinitely.

Comparison: Cyprus offers greater flexibility with lifelong PR and minimal visits, while Portugal's minimal stay requirement better suits those seeking citizenship.

Tax Benefits

Portugal: IFICI offers 20% tax for research/tech roles (with 183+ days stay). Standard rates: 13–48% apply otherwise. No wealth tax; 10% inheritance tax on local assets.

Cyprus: Non-dom status exempts foreign dividends/interest for 17 years (with 183+ days). Income tax: 0–35%; no wealth tax. Extensive tax treaty network applies.

Comparison: Cyprus offers more comprehensive tax benefits for high-net-worth individuals; Portugal's benefits are narrower, favoring specific professionals.

Application Process

Portugal: Invest (€250K–€500K), submit via AIMA's ARI portal, attend biometrics. Takes 12–15 months. Fees: €5K–€8K (main applicant), €500–€2K (dependents 18+). For expert guidance, consider hiring a specialized Golden Visa lawyer.

Cyprus: Invest (€300K), submit via Migration Department, complete biometrics. Takes 2–3 months. Fees: €500–€1K (main applicant), €70–€100 (dependents).

Comparison: Cyprus offers a significantly faster and more affordable application process; Portugal's process is delayed by backlogs.

Family Benefits

Portugal: Includes spouse, dependent children (under 18, or under 26 if students), parents (any age). Fees: €5K–€7K per dependent. All gain residency.

Cyprus: Includes spouse, children (under 18, or under 25 if students), unmarried adult students. Fees: €70–€100 per dependent. All gain permanent residency.

Comparison: Portugal is more inclusive for parents and older dependents; Cyprus offers significantly lower dependent fees and lifelong residency. For current trends, view Portugal Golden Visa statistics.

Citizenship Path

Portugal: Eligible after 5 years from application, with 7 days/year stay and A2 Portuguese language proficiency. Dual citizenship allowed, subject to home country laws.

Cyprus: Eligible after 7 years of residency, including 12 months of continuous stay before application, with B1 Greek language ability. Dual citizenship allowed. A separate €2M+ investment program offers faster citizenship.

Comparison: Portugal offers a faster, more flexible citizenship path; Cyprus requires longer residency and continuous stay for naturalization.

Healthcare & Education

Portugal: Public healthcare (SNS) access for all residents. Multiple international schools in major cities. Public universities with English programs, low fees €1.5K–€7K/year.

Cyprus: Public healthcare through GHS (GESY) system. Several international schools in Limassol, Nicosia, and Paphos. University of Cyprus offers programs in English, with reasonable tuition fees.

Comparison: Both offer quality healthcare and education; Cyprus has a newer healthcare system with generally shorter waiting times, while Portugal offers more university options.

Lifestyle Comparison

Both countries offer Mediterranean quality of life with distinct differences.

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Size & Population

Portugal: 92,212 km², 10.3M people. Cyprus: 9,251 km², 1.2M people, making it significantly smaller but less crowded than major Portuguese cities.

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Cost of Living

Portugal: €2,200/month (family, Lisbon), affordable interior. Cyprus: €2,500/month (family, Limassol), higher property costs in coastal areas.

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Climate

Portugal: Varies (mild Atlantic to Mediterranean). Cyprus: Hot summers (35°C+), mild winters (10-15°C), 340+ sunny days, one of Europe's warmest climates.

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Language

Portugal: Portuguese primary, English in tourism/business. Cyprus: Greek primary, but very high English proficiency (76% fluent), especially in business and tourism.

Pros & Cons

Key strengths and limitations of each program.

Portugal Pros

  • Clear 5-year citizenship path
  • Minimal physical presence (7 days/year)
  • Multiple investment options (€250K–€500K)
  • Larger country with diverse lifestyle options
  • Inclusive dependent qualifications

Portugal Cons

  • No real estate investment option
  • Processing delays (12–15 months)
  • Limited tax benefits (IFICI only)
  • Higher application fees (€5K–€8K)
  • Renewal every 2 years initially

Cyprus Pros

  • Immediate permanent residency
  • Faster processing (2-3 months)
  • Lower investment threshold (€300K)
  • Attractive non-dom tax benefits
  • Real estate investment option

Cyprus Cons

  • Longer citizenship path (7 years)
  • Investment must be held indefinitely
  • 12-month continuous stay for citizenship
  • Smaller size limits lifestyle options
  • Higher language requirement (B1 Greek)

Frequently Asked Questions

Portugal offers a clearer and faster path to citizenship after 5 years with minimal stay requirements (7 days/year) and only A2 language proficiency. Cyprus requires 7 years of residency with a continuous 12-month stay before application and B1 Greek language skills, making it a more challenging path.
Cyprus offers more comprehensive tax advantages through its non-domicile status, exempting foreign dividends, interest, and capital gains for 17 years. Portugal's tax benefits are primarily limited to the IFICI program for research and technology professionals. High-net-worth individuals typically find Cyprus's tax regime more favorable.
Cyprus has a lower and more consistent investment threshold of €300K across all options (real estate, business, funds). Portugal's minimum starts at €250K for cultural contributions, with most investment options requiring €500K. Cyprus also offers the option to invest in residential real estate, which Portugal no longer allows.
Cyprus's process is significantly faster, typically 2-3 months from application to approval. Portugal's process has improved but still takes 12-15 months due to processing backlogs. Additionally, Cyprus grants permanent residency status immediately, while Portugal issues temporary permits first.

Eligibility Requirements

Requirement Portugal Cyprus
Clean Criminal Record Required Required (all countries of residence)
Health Insurance Required Required
Proof of Income €8,460/year main applicant, €4,230/dependent €30K/year from abroad + €5K per dependent
Source of Funds Basic verification Basic verification
Application Location AIMA (any country) Civil Registry & Migration (in Cyprus)
Renewal Period 2 years initially, then 3 years 10 years (permanent status)

Cyprus requires a higher annual income but offers a longer renewal period with permanent status from the start. Portugal has lower income requirements but more frequent renewals initially.

Find Your Ideal EU Residency Path

Get expert guidance to determine whether Portugal or Cyprus is the right choice for your investment, residency, and long-term goals.

Request Personalized Consultation

Final Comparison

Choose Portugal if: You seek a faster EU citizenship path with minimal presence requirements, prefer a larger country with diverse lifestyles, and can manage a longer processing timeline.

Choose Cyprus if: You prioritize immediate permanent residency status, need faster processing, want excellent tax benefits for high-net-worth individuals, and prefer a warmer climate with a strong English-speaking environment.

Both programs provide excellent opportunities for EU residency, Schengen access, and Mediterranean quality of life. Your choice ultimately depends on your citizenship goals, tax situation, investment preferences, and lifestyle requirements.