1 year
Initial Duration
$3,500
Monthly Income
$70
Application Fee
$1,600
Cost of Living/mo
Highlights
300+ sunny daysEnglish widely spokenLow crime
Requirements
Income Requirement$3,500/month
Health InsuranceRequired
Proof of AccommodationRequired
Background CheckRequired
Processing Time4-8 weeks
Duration & Renewal
Initial Duration1 year
Maximum Duration3 years
Renewal Options1 year, renewable up to 3 years
Benefits
Work Permissionremote only
Tax BenefitsNo tax on foreign pension income
Path to ResidencyYes
Path to CitizenshipYes
Family IncludedYes
Things to Consider
- Divided island
- Hot summers
- Car needed
Best For
- Sun seekers
- Retirees
- Families
Lifestyle
Internet Quality4/5
Safety Rating5/5
Climatemediterranean
TimezoneUTC+2/+3
Ready to Apply?
Visit the official government website for application details.
Official ApplicationLast updated: January 2026