1 year
Initial Duration
$3,500
Monthly Income
$225
Application Fee
$1,400
Cost of Living/mo
Highlights
50% tax reduction for 7 yearsIsland hoppingLow cost of living
Requirements
Income Requirement$3,500/month
Health InsuranceRequired
Proof of AccommodationRequired
Background CheckNot Required
Processing Time2-4 weeks
Duration & Renewal
Initial Duration1 year
Maximum Duration2 years
Renewal Options1 year, extendable for 2 more years
Benefits
Work Permissionremote only
Tax Benefits50% income tax reduction for 7 years
Path to ResidencyYes
Path to CitizenshipYes
Family IncludedYes
Things to Consider
- EUR 1,000 residence permit fee after year 1
- Internet varies by island
- Hot summers
Best For
- Tax optimizers
- Beach lovers
- History buffs
Lifestyle
Internet Quality3/5
Safety Rating4/5
Climatemediterranean
TimezoneUTC+2/+3
Ready to Apply?
Visit the official government website for application details.
Official ApplicationLast updated: January 2026
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