1 year
Initial Duration
$2,700
Monthly Income
$300
Application Fee
$1,800
Cost of Living/mo
Highlights
English official languageEU memberYear-round sun
Requirements
Income Requirement$2,700/month
Health InsuranceRequired
Proof of AccommodationRequired
Background CheckRequired
Processing Time2-4 weeks
Duration & Renewal
Initial Duration1 year
Maximum Duration3 years
Renewal Options1 year, renewable up to 3 years
Benefits
Work Permissionremote only
Tax BenefitsFlat 15% tax on remitted income
Path to ResidencyYes
Path to CitizenshipYes
Family IncludedYes
Things to Consider
- Small island
- Limited nature
- Can feel crowded
Best For
- English speakers
- Beach lovers
- EU access seekers
Lifestyle
Internet Quality4/5
Safety Rating5/5
Climatemediterranean
TimezoneUTC+1/+2
Ready to Apply?
Visit the official government website for application details.
Official ApplicationLast updated: January 2026
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