How to Get a Mortgage in Cyprus in 2025: Investor Requirements, Expenses

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In 2025, a mortgage in Cyprus for foreigners is becoming an increasingly popular tool for buying property in one of the most stable corners of the Mediterranean. Investors are seeking not only relaxation by the sea but also ways to legalize their residence and preserve capital. The question of how to get a mortgage in Cyprus arises for many who view local real estate as part of an investment portfolio or relocation plan.

It is important to understand that the banking system is loyal but far from unprincipled. A foreigner can get a loan, but only by adhering to strict rules: from verified income to readiness for an initial deposit. And if approached correctly, the loan process here will be no more difficult than in EU countries.

How to get a mortgage in Cyprus: the process

Unlike some countries, Cypriot jurisdiction allows mortgage lending to non-residents, provided that the bank deems the borrower financially reliable. It is not about citizenship but about income transparency and compliance with requirements.

Buying property in Cyprus on mortgage is possible both in the primary and secondary markets. The process takes from one to three months and includes a credit history check, document analysis, and legal assessment of the property itself. In case of a positive decision, the bank provides financing, securing a mortgage on the acquired property.

Requirements for bank financing: what is important to consider in 2025

In 2025, the conditions for a mortgage in Cyprus for foreigners remain relatively stable. Average rates vary from 3.5% to 5% per annum depending on the chosen bank, type of loan, and loan term. The standard loan term is from 10 to 25 years. The down payment is a minimum of 30–40% of the property value.

Some banks require the borrower to open an account and deposit a certain amount, while others provide financing only for specific projects. In any case, the decision will be individual, so preliminary consultation is important. Below are the key parameters that affect approval:

stable income – documented and translated into English;
down payment – the higher, the better the loan terms;
absence of debt obligations – especially in international reporting systems;
clean transaction – no legal risks regarding the property;
creditworthiness – analysis of the borrower’s overall financial position.

Based on these grounds, the bank establishes rules, including mortgage rates in Cyprus, the available loan amount, and the possible repayment schedule. Hence, the importance of a clear understanding of one’s own capabilities and correct document submission.

Investor requirements: who can expect approval

A foreign citizen can apply if certain requirements are met. The bank does not assess nationality but checks income levels, credit history, absence of debts, and the purpose of the purchase. To understand how to get a mortgage in Cyprus, it is important to consider the basic criteria that the borrower must meet. Let’s look at the main requirements for investors:

official income – at least 3–4 thousand euros per month for a family;
age up to 65 years at the end of payments – often there is a fixed restriction;
submission of complete documentation – with translation and apostille;
opening a bank account – for transactions;
willingness to pay 30–40% of the property value – from own funds.

Requirements may vary from bank to bank, but the general principle is the same: solvency, transparency, and legal cleanliness of the transaction. Everything else is subject to negotiation.

Documents required for loan processing

The set of documents required for loan processing is usually quite standard and differs only in details from bank to bank. To have your application considered, you need to provide a copy of your passport, income certificate from your workplace or tax return, bank account statement, preliminary purchase agreement, and a document confirming the seller’s property rights. In some cases, a marital status certificate and proof of current residence may be required.

Mandatory requirement: all documents must be translated into English and notarized. Without meeting this condition, Cypriot banks simply do not accept documents for review, and the entire mortgage process stops even before the application is evaluated. Therefore, preparing a complete package in advance is key to a successful start of the process.

Costs of raising funds: what is hidden behind the figure in the contract

If you are seriously considering how to get a mortgage in Cyprus, it is important to consider not only the loan amount and interest rate but also additional mandatory expenses. They accompany any transaction and are included either before signing the contract or simultaneously with it.

Such expenses include notary services, which can amount to one percent of the property value, state fees and stamp duty determined by a fixed scale. It will also be necessary to pay for property registration in the state registry, legal support of the transaction (especially important for foreigners), mandatory market assessment of the property, property insurance against risks, as well as bank fees for processing the application and opening a credit line.

As a rule, the total costs range from 6 to 10% of the total property value. Therefore, when planning to buy property in Cypriot jurisdiction with funding, it is necessary to budget for expenses in advance to avoid financial “surprises” at the final stage of the transaction.

Financing and Permanent Residency: Is There a Connection?

It is important to understand: Permanent Residency in Cyprus and a mortgage are not directly related. Obtaining financial support does not automatically grant the right to residency. However, when purchasing property worth at least 300,000 euros, it is possible to apply for Permanent Residency under an investment program. The main thing is that the property must be acquired without a loan. That is, a loan and investment-based Permanent Residency are mutually exclusive scenarios.

How to get a mortgage in Cyprus: conclusions

The answer to how to get a mortgage in Cyprus in 2025 is simple: with a clear plan, a complete set of documents, and an understanding of all expenses. The southern European island is open to foreign buyers but requires responsibility at every stage.

Transparency of income, attention to detail, understanding of contract terms, and accurate budget calculation are important here. Therefore, prepare for dialogue, meet requirements, and think one step ahead!

What gives you a “golden visa” for Greece and how you can get it

Not every asset can work while the owner sleeps. Property in Athens can. It is such an investment that triggers the mechanism for obtaining a “golden visa” for Greece – one of the most stable residence permit programmes in Europe. Since 2013, the country has approved more than 30,000 applications, opening the door to the Schengen zone to investors from 90+ countries. It is not just a pass to the EU, but an instrument of strategic flexibility.

Basic conditions of the programme: who can receive it and for what investments

The programme grants a residence permit for a 5-year renewable period. The minimum entry threshold for participation is from 250,000 euros in real estate. From 2023 in some areas of Athens, Mykonos and Santorini – already from 500,000 euros. Despite price increases in certain areas, the starting amount of €250,000 has remained unchanged since 2013 for most regions, making the scheme one of the most affordable among EU programmes.

Greece’s “Golden Visa” is not just for the investor. The residence permit is extended to the family – spouses, children under 21 and parents of both parties. There are no additional payments and no additional investments.

Full list of investor and facility requirements

To obtain a residence permit under the Golden Visa programme, a number of legal, financial and technical conditions must be met, each of which is checked by the authorised structures before and after the purchase of the property. The programme does not require mandatory language skills, examinations or prior residence, but it does have clear requirements:

investment from €250,000 in property (subject to regional variations);
Having a legal income that proves the ability to make the investment;
No criminal record of the main applicant and adult family members;
International health insurance covering the stay in Greece;
the property must be habitable (even if there are no plans to move);
The sale and purchase transaction must go through a Greek notary with the obligatory verification of the cleanliness of the property;
funds for the purchase must be transferred from the applicant’s personal account;
the title must be registered in the mortgage registry.

Compliance with all these conditions guarantees the legality of the status and excludes the risks of cancellation.

The process of registration: from selection to obtaining a residence permit

The residency programme through investment is strictly according to the scheme. The procedure is clear: if all the requirements are met, the residence permit is issued in the shortest possible time. The step-by-step structure eliminates bureaucratic delays and ensures the legality of each stage.

Process steps:

Opening a Greek bank account (possible remotely or through a proxy).
Property selection (taking into account the minimum investment threshold and regional peculiarities). Prices in the suburbs of Attica, for example, start at €2,200 per square metre.
Due diligence of the property and purchase. The registration goes through a notary, check the cleanliness of the object – mandatory.
Collection and submission of documents for residence permit. You will need a standard package:
- passport;
- sales contract;
- A bank statement confirming the transfer of funds;
- proof of payment for the transaction;
- health insurance;
- photos;
- proof of residence (address in Greece, even if formal). The document package is simple but will require translations, notarisation and apostille. The documents can be submitted in Greece or through the consulate.
Passing biometrics. It is obligatory to be present in person at least once when submitting documents.
Obtaining a residence permit. Temporary residence permit is issued in 20 days after submission, while the main document is usually issued within 2 months.

The transparency of the procedure and standardised requirements simplify preparation, especially when accompanied by a professional lawyer.

Advantages of the Golden Visa of Greece

There are quite a few of them:

Freedom of movement within Schengen. The residence permit allows you to live, enter, leave and travel in Schengen countries without restrictions.
There is no mandatory residency requirement. The programme does not oblige the investor and his family to actually reside in Greece. This also means that there is no automatic tax residency (unless residing for more than 183 days per year).
Family inclusion. Status applies to spouses, children under 21, and parents of both parties with no additional investment.
Comparatively low threshold of entry. The threshold of €250,000 makes the programme one of the most affordable in the EU (subject to regional variations).
The opportunity to live, study and use services in the EU. A residence permit allows you to stay in the country legally, rent accommodation, use health care and open accounts in EU banks.
Investment growth potential. Introduction to the Greek property market, which is showing steady growth.
Pathway to Citizenship. Possibility to apply for citizenship after 7 years of legal residence in the country.
A simple renewal scheme. The residence permit is renewed every 5 years if the investment (property) is maintained.

Limitations and important nuances

It is imperative to take them into account:

Lack of access to employment. The residence permit does not entitle to employment. It is allowed to run a business or be a shareholder in Greek or European companies.
Increase in property values in the most popular and investor-demanded areas (e.g. Athens city centre, Mykonos, Santorini), where the minimum threshold is higher.
The opacity and nuances of renting in tourist areas may require professional management.
Mandatory filing of documents through a notary increases the total cost of the transaction.
Difficulties in opening a bank account may arise for citizens of some countries, including CIS countries, which requires the involvement of specialists.
Children lose their residence permit status once they reach the age of 21, unless additional steps are taken to maintain their status.
To apply for citizenship, actual residence in Greece (more than 183 days per year) for 7 years is required, as well as language skills and integration.

Real estate in Greece as an investment instrument

The Greek property market has shown steady growth, especially in recent years. Athens has seen significant price growth (+12% for 2023). In resort areas, properties can generate rental income of up to 7-9% per annum if well managed. Properties of 60-80 m² in areas adjacent to the centre of Athens (e.g. Marousi or Piraeus) remain the most popular among investors seeking a “golden visa”.

If the property is resold after 5 years, it is allowed to return the investment without losing the right to a residence permit. However, early sale of the investment property before the expiry of 5 years cancels the residence permit status for the whole family.

Taxes and tax residency in Greece

Financial planning under a Greek residence permit requires an understanding of the local tax system. It is important to distinguish between having a residence permit and being a tax resident. Tax residency generally occurs when you live in the country for more than 183 days per year.

Non-residents are taxed on rental property income in Greece on a progressive scale:

up to €12,000 of annual income – 15%;
from €12 001 to €35 000 – 35%;
over €35,000 – 45%.

Property in Greece is also subject to an annual tax (ENFIA). The rate depends on the type of property, its value and location, averaging between €3 and €5 per m² nationwide, but may be higher in central or prestigious areas of Athens and on the islands.

Residence permit validity period and renewal

The first residence permit obtained under the Greek Golden Visa programme is valid for 5 years. In order to extend it for the next 5 years, it is necessary to maintain the investment, i.e. to own the purchased property.

An important nuance: children who have obtained a residence permit together with their parents lose their status after reaching the age of 21, if no action is taken to formalise a separate basis of stay for them.

The path to Greek citizenship through naturalisation via a “golden visa”

Although the Golden Visa itself does not automatically entitle you to Greek or EU citizenship, it does open this possibility. It is possible to apply for naturalisation (citizenship) if you have resided in the country for at least 7 years.

Successful acquisition of citizenship requires not only compliance with the residency requirement (residence for more than 183 days per year), but also demonstration of integration: payment of taxes, knowledge of the Greek language (confirmed by examination) and general knowledge of Greek history and culture. Passports can also be obtained by the investor’s family members, including adult children, if they also fulfil these requirements (primarily residency and language skills).

Greece’s “Golden Visa” in the EU context: comparison with other programmes

Obtaining a Greek residence permit under the investment programme is not an emergency escape, but a planned strategy to ensure mobility and security. “Golden Visa” offers a balanced option for those who seek to secure capital, gain freedom of movement within Schengen and have a “reserve airfield” in the EU.

The programme compares favourably with some of its counterparts elsewhere in Europe:

the speed of processing and flexibility of requirements are superior to programmes in Portugal and Spain (especially before the recent changes in these countries);
Unlike Malta, Greece does not require non-refundable payments to public funds;
the Greek programme does not require a permanent or long-term stay in the country, unlike the programmes of Latvia or Bulgaria (although residence is required for citizenship).

The Greek state has steadily maintained its place among the top three EU countries in terms of the number of “golden visas” issued. There has been a steady increase in recent years, with over 2,800 applications in 2022 and around 4,000 in 2023. The main flow of investors comes from citizens of China, Russia, Turkey, Egypt and Lebanon, but interest from applicants from Eastern Europe is also growing.

Greece’s “Golden Visa”: the essentials

“Greece’s Golden Visa is a powerful tool for strategic flexibility and security. With the right approach, property investment generates income, greatly simplifies international logistics and provides a secure base in the European Union. Despite the rising entry threshold in certain regions, the programme remains highly popular due to its simplicity, transparency and predictability. These are the key parameters for those who are building a long-term architecture for their financial and personal security.

August 27, 2025

Why investors are investing massively in Greek property

Greece is a country with gorgeous beaches and beautiful streets. And, of course, a financial treasure hiding incredible opportunities for investors. Investing in property in Greece has become a symbol of successful strategic thinking. The favourable climate, stable economic situation and tourism prospects create ideal conditions for those looking for a profitable investment in a beautiful and tranquil environment.

A golden prospect: property investment in Greece

Economic stability and the growth of tourism have made investments in Greek metres in demand among foreign buyers. Low property prices, simple legal procedures and the development of tourist infrastructure create a solid foundation for long-term investments. The country’s economy shows positive growth dynamics, and analysts note that the income from rental property by the sea can reach 8-10% per year, which makes such investments particularly attractive.

An example of a successful investment is the purchase of several flats in Athens: the owners receive a stable income from renting the flats to tourists. The “Golden Visa” programme, which provides residence permits for those who are ready to invest in Greek real estate, increases interest in this market, turning it into a kind of “investment gold mine” in Europe.

Living by the sea is an investment in happiness: seaside property in Greece

A ticket to eternal summer: azure waters, unique sunsets and the quiet cosiness of island towns turn the purchase of a villa or house on the coast into a profitable investment in health and quality of life. The country offers unique opportunities for those who want to buy a villa for personal use and those who plan to earn money from renting.

Many people want to buy property on the Greek islands of Crete or Santorini to enjoy nature and tranquility:

Crete is a place where the sea and the mountains merge into a perfect landscape, and the villas here are renowned for their high quality and affordable price.
Santorini, with its recognisable white-washed houses and blue domes, is a benchmark for luxury holidays, making it a tidbit for investors.

Life, leisure, business: property in Greece for different purposes

The sunny country opens its doors to every scenario of property use: from living to running a business. Real estate attracts with comfort and favourable conditions, especially for retirees who are looking for a cosy and warm place to live a quiet life in Greece. It is the perfect atmosphere for those who want to meet the sunset of their life surrounded by beautiful scenery and good-natured neighbours. There are plenty of options, from small apartments to cosy houses in picturesque villages. Both for lovers of travelling and for those who want to spend the summer by the sea.

Thanks to the active development of tourist infrastructure, properties are becoming a great way to make a profit. Renting apartments to tourists is not just a way to cover expenses, but a real opportunity to earn.

For entrepreneurs, the niche is an interesting and promising option. Investing in tourist facilities – hotels, restaurants or apartments for rent – can provide high returns, especially in the resort regions of Athens and Santorini.

Pros and cons of buying property in Greece

Every investment needs to be carefully analysed. Knowing all the advantages and disadvantages is important in making a decision.

Pros:

Stable demand for rentals. Due to the tourist flow and the country’s attractiveness to foreigners, renting here remains in demand. This provides an opportunity to receive a stable income throughout the year.
The favourable climate: Mediterranean with mild winters and hot summers makes the country a popular place to live and holiday.
Affordable prices for secondary property in Greece. Compared to other European countries, the cost is quite low and affordable for most foreign investors.
The developed tourist infrastructure creates favourable conditions for property owners renting out accommodation.

Minuses:

Bureaucratic complexities. Transactions may involve complex bureaucratic procedures, require careful attention and time.
The need to scrutinise the legal aspects of the purchase. This is due to the peculiarities of local legislation and possible restrictions on land acquisition.

Popular regions: property in Athens, Crete and Santorini

Athens: life at the centre of history and modernity

An ideal choice for those who prefer to live in an active city. The capital of the country offers excellent rental conditions, whether long or short term for tourists. Neighbourhoods overlooking the Acropolis are particularly popular with those looking for unique properties.

Crete: between the mountains and the sea

Combining the spirit of tradition with modern amenities. This island is the ideal place for those who appreciate comfort and natural beauty. Buy an apartment or a house in Crete and enjoy the mountains, the sea and the centuries-old culture every day.

Santorini: a symbol of luxury and unique atmosphere

Buying a home here is an investment in a special lifestyle. Santorini is known for its unique architecture, and each house on this island is like part of a large art installation.

Conclusion

Investing in property in Greece is not only a financially rewarding decision, but also an opportunity to be part of an incredible history, experience Greek hospitality and enjoy the unique nature. The country offers excellent prospects for investors looking for stable investments with high returns. Whether the purchase is for personal use, rental or business, every investment becomes part of the big dream of living on the shores of the Aegean Sea.

August 27, 2025