Greece Financially Independent People Visa: A Comprehensive Guide
What is Passive Income Visa?
Passive Income Visa refers to a visa system where applicants can obtain long-term residency in a destination country based on a certain amount of income/savings without the need to invest or work.
Generally speaking, passive income visa programs in various countries have the following characteristics:
1. Strict limitations on the source of income: The applicant’s income needs to be completely passive, such as interest from savings, financial trusts, pensions, or at least non-wage income like investment returns, dividends, and distributions.
2. Visa holders cannot utilize local resources: In theory, you can only consume in the destination country and cannot seek employment locally. You also need to purchase your own health insurance and cannot use free welfare resources such as medical services.
3. Potential for eventual immigration: Almost all countries with passive income visa programs allow participants to apply for permanent residency or citizenship after legally residing there for a certain period.
If you are interested in a passive income visa, you can read another guide on the website: “Global Passive Income Visas | An Incomplete Guide”.
Greece Financially Independent People Visa: An Overview
The Greece Financially Independent Person (FIP) Visa, officially known as a residence permit for “Persons with Sufficient Means of Subsistence,” is a highly popular residency option for non-European Union (EU) nationals who can support themselves without needing to work or engage in business activities within Greece. This visa is perfectly suited for retirees, individuals living off investment income, or those with stable, passive income streams who seek to embrace the Mediterranean lifestyle.
The entire framework of the FIP Visa rests on demonstrating financial self-sufficiency through foreign, non-employment income. According to recent legislation updates (Law 5038/2023), the financial threshold is set at a minimum €3,500 per month for the main applicant. This figure must be guaranteed, stable, and passive, originating from sources outside of Greece. Acceptable sources typically include foreign pensions, dividends, rental income from properties abroad, interest from investment portfolios, or bank deposits sufficient to cover the entire permit duration. Critically, income derived from active employment or running a business, even if remote, is often rejected, making the program distinct from the Digital Nomad Visa.
If the main applicant wishes to include family members, the required monthly income increases proportionally. An additional 20% of the base amount (an extra €700) is required for a spouse, and an additional 15% (an extra €525) is required for each dependent child. For example, a family of four would need to prove a total passive income of €5,250 per month.
Application Process:
Applying for the Greece Financially Independent Person Visa, is a two-stage process that requires careful preparation and adherence to the Greek legal framework.
Here is a detailed, step-by-step guide on how to apply:
Phase 1: Securing the National D-Visa (Outside Greece)
This first step grants you legal entry into Greece for the purpose of submitting your residency application.
1. Preparation and Document Gathering: The primary focus here is demonstrating stable, passive financial means (the minimum monthly income is currently €3,500, plus dependents’ increases). All key documents—such as proof of income, criminal background checks, and family certificates—must be officially translated into Greek and often carry the Apostille stamp from your home country to certify their authenticity. You must also obtain a medical certificate and secure short-term travel health insurance.
2. Submission at the Consulate: You must schedule and attend a personal interview at the Greek Consulate or Embassy in your country of legal residence. You will submit the D-Visa application form, pay the fees, and provide your biometrics. This D-Visa is crucial, as it legalizes your stay in Greece while your final residence permit is processed.
Phase 2: Obtaining the Residence Permit (Inside Greece)
Once you enter Greece with your D-Visa, you have a limited window to submit the full application to the Ministry of Migration.
3. Formalizing Your Presence: Immediately upon arrival, you must secure a long-term address in Greece (a registered rental contract or property title) and obtain a Greek Tax Identification Number (AFM). You must also purchase comprehensive private health insurance valid in Greece for the entire duration of the permit.
4. Final Application Submission: The complete file, including all updated Greek-based documents (AFM, long-term address, and local insurance), is submitted to the local Department of Migration Policy. A government processing fee is paid at this time (currently €1,000 for the main applicant).
5. Biometrics and Temporary Stay: After submission, you will be called to provide new biometric data for your residency card. Importantly, the Migration Department will issue a Blue Certificate that serves as your legal temporary residency status, allowing you to stay in Greece even if your initial D-Visa expires while you await the final decision.
6. Issuance of the FIP Card: Upon approval, the three-year FIP Residence Permit card is issued, granting you full residency rights in Greece and visa-free travel within the Schengen Area.
It is strongly recommended to engage a local Greek immigration lawyer to manage Phase 2, as it involves navigating local bureaucracy and ensuring all submissions comply with the latest Greek legal requirements.
Dependents:
The Greece Financially Independent Person (FIP) Visa allows the main applicant to include their immediate family members as dependents, provided the primary applicant’s proven passive income meets the increased threshold to support the entire family unit.
The specific dependents you can include are:
1. Spouse: The legally married partner of the main applicant. A 20% increase in the required monthly income (an additional €700 based on the current €3,500 minimum) is needed for the spouse.
2. Dependent Children: The children of the main applicant and their spouse, provided they are unmarried. The age limit for dependent children is typically under the age of 18 or 21, depending on the precise legal article and the discretion of the migration authority. Most recent sources, aligning with family reunification laws, cite the following:
- Children under 18 years old.
- Some sources suggest the possibility of including children under 21 years old who remain financially dependent on the main applicant.
Visa Validity:
The FIP Residence Permit is initially issued with a validity of three (3) years and can be renewed indefinitely for subsequent three-year periods, provided the financial and other requirements continue to be met. Unlike the Golden Visa, the FIP Visa comes with a mandatory residency obligation: the holder must reside in Greece for at least 183 days per year to maintain the permit and qualify for renewal. This obligation also establishes the FIP holder as a tax resident of Greece.
By maintaining this status and meeting the residency requirement, the visa provides a clear path toward permanent residency and citizenship. After five continuous years of legal residence, the FIP holder can apply for Long-Term Resident status. Furthermore, after seven continuous years, they may apply for Greek citizenship, subject to passing integration tests that confirm proficiency in the Greek language, history, and culture.
Useful Links:
Greece ministry of foreign affairs：https://www.mfa.gr/en/visas/
Greek long stay visa application form：https://www.mfa.gr/missionsabroad/images/visas/national/application_for_a_visa_for_a_long_stay_in_greece.pdf