Cyprus or Portugal which golden visa better?

Authored by the expert who managed and guided the team behind the Cyprus Property Pack

Everything you need to know before buying real estate is included in our Cyprus Property Pack

Who is the author of this content?

INVESTROPA

A team specialized in real estate investing in European countries

We are a team of financial experts, legal professionals, developers, and local real estate specialists dedicated to helping people like you avoid mistakes when investing in real estate in a foreign place, particularly in Cyprus. If you'd like to learn more about us, you can check our presentation page.

How this content was created 🔎📝

At INVESTROPA, we explore the Cyprus real estate market every day. Our team doesn't just analyze data from a distance—we're actively engaging with local realtors, investors, and property managers in cities like Limassol, Nicosia, and Paphos. This hands-on approach allows us to gain a deep understanding of the market from the inside out.

These observations are originally based on what we've learned through these conversations and our observations. But it was not enough. To back them up, we also needed to rely on trusted resources

We prioritize accuracy and authority. Trends lacking solid data or expert validation were excluded.

Trustworthiness is central to our work. Every source and citation is clearly listed, ensuring transparency. A writing AI-powered tool was used solely to refine readability and engagement.

To make the information accessible, our team designed custom infographics that clarify key points. We hope you will like them! All illustrations and media were created in-house and added manually.

Fact-checked and reviewed by our local expert

✓✓✓

Nikki Grey 🇬🇧

CEO & Director, Europe Properties

With years of experience in European real estate, Nikki Grey understands the unique appeal of Cyprus as a prime investment destination. At Europe Properties, she facilitates property acquisitions that offer both lifestyle and financial benefits, including access to the island's Golden Visa program. Her insights help investors navigate the Cypriot market, from beachfront villas to lucrative rental properties.

How much money do I actually need to invest to qualify for a golden visa in Portugal versus Cyprus?

Cyprus requires a minimum investment of €300,000 as of September 2025, making it significantly more affordable than Portugal's €500,000 minimum requirement.

In Cyprus, you can invest €300,000 in residential or commercial real estate, investment funds, or business ventures that employ at least five Cypriot citizens. This investment must be maintained throughout your residency period to keep your permanent residence status active.

Portugal eliminated real estate investments from its golden visa program in late 2023, leaving fund investments as the primary route at €500,000 minimum. Alternative options include donations of €250,000-€500,000 to cultural or scientific projects, or business investments creating at least 10 jobs.

The €200,000 difference between the two programs represents a substantial cost advantage for Cyprus, especially when considering that both lead to EU residency rights.

It's something we develop in our Cyprus property pack.

What kinds of investment options are allowed in each country?

Investment Type	Cyprus	Portugal
Real Estate	€300,000 minimum (residential/commercial)	Not allowed since 2023
Investment Funds	€300,000 in Cyprus-based funds	€500,000 in qualifying funds
Business Investment	€300,000 + employ 5 citizens	€500,000 + create 5 jobs, or create 10 jobs
Donations	Not available	€250,000-€500,000 (non-refundable)
Investment Flexibility	Must maintain throughout residency	Can liquidate after 5 years with PR

How long does the application process usually take in Portugal compared to Cyprus?

Cyprus processes golden visa applications in 2-3 months when all documents are complete, while Portugal typically takes 12-24 months despite an official 90-day timeline.

The Portuguese golden visa program faces significant backlogs due to high demand and administrative delays that have persisted since 2023. Many applicants report waiting over 18 months for initial approval, with some cases extending beyond two years.

Cyprus maintains a streamlined process through its Ministry of Interior, with most applications receiving approval within 8-12 weeks from submission. The key factor affecting processing time is document completeness and proper legal representation.

This timing difference means Cyprus applicants can obtain EU residency and begin enjoying benefits almost two years earlier than Portugal applicants on average.

What are the total government fees, legal costs, and taxes I should expect in both countries?

Cyprus total costs range from €8,000-€15,000 beyond the investment, while Portugal costs €15,000-€25,000 excluding the investment amount.

Cyprus charges government application fees of €500-€2,000 per person, legal fees of €5,000-€8,000, and property-related costs including 5-19% VAT on new properties. First-time buyers may qualify for reduced VAT rates on residential properties.

Portugal imposes higher administrative costs with government fees around €5,325 per applicant plus renewal fees every two years. Legal representation typically costs €5,000-€10,000, and fund investments carry 1-2% management fees annually.

Tax implications differ significantly: Cyprus offers low flat tax regimes and no inheritance tax for residents, while Portugal provides the Non-Habitual Resident program with potential tax benefits, though this program faces ongoing political scrutiny.

How many days per year do I need to physically live in Portugal or Cyprus to keep the golden visa active?

Cyprus requires only 1 day every 2 years to maintain your permanent residence permit, making it the most lenient physical presence requirement among EU golden visa programs.

Portugal demands 7 days per year on average, calculated as 14 days every 2-year renewal period. This requirement applies throughout the initial five-year period before permanent residency qualification.

Both countries allow significant flexibility for global nomads and investors who prefer to maintain primary residences elsewhere. Cyprus effectively requires just a brief annual visit or biennial trip to satisfy requirements.

The minimal physical presence requirements make both programs attractive for investors seeking EU residency without relocating permanently, though Cyprus offers greater freedom in this regard.

How quickly can I get permanent residency or citizenship through each program, and under what conditions?

Cyprus grants permanent residency immediately upon golden visa approval within 2-3 months, while Portugal requires maintaining the investment for five years before permanent residency qualification.

Citizenship pathways differ substantially between the programs. Cyprus offers citizenship eligibility after 5-7 years of residency with strict requirements including language proficiency, integration tests, and continuous physical presence. The naturalization process remains highly selective.

Portugal provides a clearer citizenship route after five years, requiring A2-level Portuguese language certification, demonstrated ties to the country, and minimal criminal record. The process is more standardized but still involves bureaucratic procedures.

Portugal's citizenship leads to one of the world's strongest passports, while Cyprus citizenship provides EU passport benefits with slightly more limited global mobility.

What are the tax benefits or drawbacks of living in Portugal compared to Cyprus as a golden visa holder?

Cyprus offers more favorable tax treatment with flat rates, no inheritance tax, and beneficial regimes for non-domiciled residents, while Portugal's tax advantages depend on the evolving Non-Habitual Resident program.

Cyprus tax residents benefit from 12.5% corporate tax rates, no inheritance tax on worldwide assets, and various exemptions for foreign-sourced income. The country maintains stable tax policies with limited political pressure for major changes.

Portugal's NHR program historically provided tax exemptions on foreign income for ten years, but political pressure may modify or eliminate these benefits. Standard Portuguese tax rates can reach 48% for high earners without NHR benefits.

Cyprus generally provides more predictable and advantageous tax treatment for wealthy investors, while Portugal's tax landscape faces ongoing political uncertainty that could affect future benefits.

It's something we develop in our Cyprus property pack.

How easy is it for my spouse, children, or parents to also get residency through my golden visa in each country?

Both Cyprus and Portugal allow family reunification, but Cyprus offers broader eligibility including adult children up to 25 and both sets of parents, while Portugal covers spouse, dependent children, and parents of the main applicant.

Cyprus permits spouses, unmarried children up to 25 (if students or financially dependent), and parents of both the main applicant and spouse to obtain residency. Adult children benefit from extended coverage compared to most EU programs.

Portugal includes spouses, dependent children of any age, and parents of the main applicant. The program requires proof of dependency for adult children and financial support capability for elderly parents.

Family members receive the same residency rights as the main applicant in both countries, including access to healthcare, education, and the eventual path to permanent residency or citizenship.

Cyprus provides slightly more generous family inclusion, particularly beneficial for families with young adult children or complex family structures involving in-laws.

We did some research and made this infographic to help you quickly compare rental yields of the major cities in Cyprus versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you're planning to invest there.

What healthcare and education rights will my family and I have in Portugal versus Cyprus?

Both countries provide access to public healthcare and education systems for golden visa holders and their families, with Portugal offering more comprehensive immediate access through its established EU healthcare system.

Portugal grants full access to the National Health Service (SNS) for residents, including golden visa holders. The system covers medical care, emergency services, and specialized treatments. Public education access includes primary through university levels with minimal fees.

Cyprus permanent residents access the General Health System (GHS) after initial registration, though some services may require private healthcare during transition periods. The education system provides free public schooling through secondary level, with university education available at EU rates.

Both countries offer healthcare quality comparable to EU standards, though Portugal's system is more integrated with broader EU healthcare networks. Education quality meets EU standards in both countries, with English-language options available in major cities.

Family members receive identical healthcare and education rights as the primary applicant, ensuring comprehensive coverage for dependent children and spouses.

How strong are the passports of Portugal and Cyprus in terms of visa-free travel and global ranking?

Portugal holds a top 5-7 global passport ranking with access to approximately 190 destinations visa-free or visa-on-arrival, while Cyprus ranks 13-15th globally with access to about 180 destinations.

The Portuguese passport provides visa-free access to the United States, United Kingdom, Canada, Australia, and all EU countries. This includes extensive coverage across Asia, Africa, and the Americas, making it one of the world's most powerful travel documents.

Cyprus passport holders enjoy visa-free access to all EU countries, the United Kingdom, Canada, and most European destinations, but require visas for the United States. The passport provides good coverage for business and leisure travel within Europe and many other regions.

For investors prioritizing global mobility, Portugal offers superior passport strength with broader visa-free access, particularly to major English-speaking countries and emerging markets.

The 10-destination difference may seem minor but can significantly impact business travel, international mobility, and lifestyle flexibility for frequent travelers.

What risks exist with each program, like sudden rule changes, stricter requirements, or program suspensions?

Portugal faces higher political pressure for program changes due to housing market concerns, while Cyprus maintains relative stability but could face EU-level scrutiny affecting golden visa programs broadly.

Portugal already eliminated real estate investments in 2023 due to housing affordability concerns, and further restrictions on fund investments or increased minimum amounts remain possible. Processing delays continue affecting applicant timelines and program predictability.

Cyprus maintains program stability with consistent requirements since inception, though EU-wide pressure on golden visa programs could lead to future modifications. The program's real estate focus aligns with government economic priorities, reducing immediate change risks.

Both programs face potential EU-level regulations affecting all member state golden visa schemes, though implementation timelines and specific impacts remain uncertain as of September 2025.

Portugal's recent changes demonstrate higher volatility, while Cyprus shows greater commitment to maintaining current program structure and benefits.

It's something we develop in our Cyprus property pack.

If I decide to sell my investment later, how easy is it to exit and still keep residency in Portugal versus Cyprus?

Portugal allows investment liquidation after obtaining permanent residency at the five-year mark, while Cyprus requires maintaining the qualifying investment throughout the residency period to retain status.

Portugal golden visa holders can sell fund investments or liquidate other qualifying investments once they secure permanent residency after five years. This provides exit flexibility while maintaining EU residency rights permanently.

Cyprus permanent residents must maintain their €300,000 investment (or qualifying replacement investment) for as long as they wish to retain their residency status. Selling the investment without replacement results in loss of residency rights.

The investment maintenance requirement makes Cyprus less flexible for investors seeking quick exit strategies, though property investments often appreciate over the medium term in key markets like Limassol and Paphos.

For investors prioritizing liquidity and exit flexibility, Portugal offers superior terms once permanent residency is achieved, while Cyprus provides immediate benefits but requires longer-term investment commitment.

Conclusion

This article is for informational purposes only and should not be considered financial advice. Readers are advised to consult with a qualified professional before making any investment decisions. We do not assume any liability for actions taken based on the information provided.

Sources

1. The Blue Portugal - Portugal Golden Visa and Residency Citizenship
2. Global Citizen Solutions - Cyprus Golden Visa
3. Get Golden Visa - Portugal Golden Visa Program
4. Global Citizen Solutions - Portugal Golden Visa Investment Fund
5. The Golden Portugal - Cyprus Golden Visa
6. D7 Visa - Cyprus Golden Visa
7. Astons - Guide on Cyprus Golden Visa and Residency Investment Program
8. Global Citizen Solutions - Portugal Golden Visa Delays
9. Nomad Gate - Portugal Golden Visa Guide
10. Visa Index - Cyprus Golden Visa