Permanent residence Greece vs Cyprus

Question

Permanent residence Greece vs Cyprus

LUCY asks:

Good afternoon. We are citizens of Russia, where can I buy a house, where is it easier - in Greece or Cyprus? What are the conditions for obtaining a residence permit and for buying an apartment? Thanks for the information.

27.07.2026

CYPRUS. Consultation

Visa, residence permit, citizenship

Expert answers (4)

Yannis Iliadis (Foutina) · Answer 1 · 2026-07-28T11:25

Hello, Lucy. You can buy real estate in both countries, but in Greece the Golden Visa program (minimum 400,000 but not Athens, Thessaloniki and the major islands) for Russian citizens has been suspended and it is more expensive than the Cyprus program, which requires a minimum purchase amount of 300,000 euros + VAT without location restrictions and continues to work also for Russian citizens. It is necessary to confirm the annual income from abroad (outside Cyprus) from €50,000 per main applicant. Additionally, it is required to show +€15,000 income per spouse and +€10,000 for each financially dependent child (under 25 years old). The investor's parents are no longer included in this program. You cannot work for hire in Cyprus with this status, but you can own a business and receive dividends. Money for the purchase of real estate should have an absolutely transparent origin and should not be obtained from any sanctioned activity.

Hermine Markosyan (REMAX VESTA) · Answer 2 · 2026-07-27T16:15

Northern Cyprus cannot be compared in any way with Cyprus in the European part. As an expert, I would say that the best option is to move and invest better in the European part of Cyprus.

If you compare Greece and Cyprus, Cyprus has an advantage: when buying your first property for your own residence while working in the UAE and confirming sufficient income from abroad, in your case, you can use a preferential VAT rate of 5% from the UAE (subject to the terms of the program), subject to all requirements, permanent residence is granted indefinitely.

And the investment is not as big as in the UAE. There are no such tax benefits in Greece, and the requirements for registration of transactions and residence permits for Russian citizens are now more stringent.

There are many benefits in the European part of Cyprus, high return on investment (ROI), Larnaca, Paphos, Limassol -the most prestigious and expensive market, whereas Larnaca offers higher potential returns due to more affordable property prices.

Please contact us, I will be glad to help from personal experience; both in Greece and in the European part of Cyprus. Good luck to you

Ieva Yildirim (Truwa homes ) · Answer 3 · 2026-07-27T15:00

Good afternoon!

We specialize in the real estate market of Northern Cyprus, so we can provide detailed advice in this area.

For Russian citizens, the purchase of real estate in Northern Cyprus is available. When purchasing an object, you can apply for a residence permit in compliance with the applicable legal requirements.

Unfortunately, we do not advise on the terms of buying real estate and obtaining a residence permit in Greece, so we would not like to provide inaccurate information.

If you are interested in Northern Cyprus, we will be happy to tell you about the current conditions, the purchase budget, the registration procedure and select the appropriate options.

Alexey Fedoroff (Actual Consult) · Answer 4 · 2026-07-27T14:36

Good afternoon. We are dealing with Northern Cyprus. This is the Turkish part. On the Turkish side, you can buy any apartment for a residence permit, and you must have at least 18 thousand dollars per family in your account.
I can't say anything about Greece. About the Republic of Cyprus (Southern part) also, there are other conditions.