Greece Residence Permit for Financially Independent Persons (FIP)
The Greek Program for Financially Independent Persons is aimed at third-country nationals who are able to support themselves and their families independently. A residence permit of this type requires minimal preparation, a small amount of income and time spent in comparison with other European countries. The residence permit may be extended, after five years you may apply for permanent residence, after 10 years - for citizenship. The obtained residence permit allows you to travel within the EU countries with no limits, use the same government services as Greek citizens, and invest in existing local companies.
Features of the program
- Minimum income €2 000 per month
- No investment
- For the whole family spouses and children
- Issued for two years possible to prolong
- No access to the labor market
- Allows to live in Greece no time limitations
- Travel freely around the EU countries
- Permanent residence and citizenship in the future
The official website of the program
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About the Program
A residence permit in Greece for financially independent persons is issued to foreign citizens who can prove their legal and stable income from foreign / passive sources in the amount of € 2,000 per month. The conditions for granting the status are stated in the Law on «Immigration and Social Integration» 4251/2014, article 20.
The whole procedure for obtaining this type of residence permit takes about 3-5 months. It is worth considering that the Ministry of Internal Affairs and the Ministry of Economy of Greece verify the submitted documents in details and, when it comes to savings, they start from the available amount for at least a year of residence. Nevertheless, a minimum of paperwork is required, and you are allowed to move with your family immediately, if you can confirm the sufficiency of funds for the relatives you plan to bring along.
The applicant receives this type of residence permit without the right to work in the country or conduct an independent economic activity in Greece. Similar conditions apply to all the family members.
The first residence permit is issued for two years, after that you may extend it every three years. The period of stay in Greece is not limited - the holder of the permit is allowed to reside in the country permanently or not to visit Greece at all, if he does not plan to apply for an extension or obtaining a permanent residence status.
After five years of legal stay in the country, you may apply for permanent residence, after another five years - for citizenship. Provided that the holder of the permit was in Greece most of the time.
Conditions for Obtaining a Residence Permit
- Sufficient income
- For the main applicant - from € 2,000 per month, for the spouse - plus 20%, for each child - plus 15%. The income may be confirmed by a tax declaration or a bank statement, pension, long-term lease agreement and other documents that can demonstrate the legal origin of the received funds.
- Accommodation in Greece
- The law does not oblige the applicants to purchase real estate. The candidates for this residence permit are allowed to provide a long-term lease agreement. There are no formal requirements for the cost of the property object. At the same time, it is obvious that the main task of a foreigner is to convince the Greek immigration service of his solvency, therefore, buying / renting housing in a high price segment increases the chances that the application will be approved.
The Greek Immigration Service examines each application very carefully, refusals are possible. According to the experience of consultants, the guarantee of obtaining a residence permit for financially independent persons is 50-70%. If you are planning to purchase a home in Greece anyway, you may use the «Residence Permit for Real Estate Investors» – program, if all the basic conditions are met, the percentage of approvals tends to 100%.
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Residence Permit for Family Members
Citizens of the countries outside the EU who have reached the age of 18 are eligible to apply for a residence permit for financially independent persons.
A spouse and common or adopted children under the age of 18 who are not married may move with the applicant. It is also allowed to take along the children of the applicant or the spouse, but subject to joint custody.
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Documents
To obtain a national visa:
- Passport valid for at least three months after the expiration of the visa and issued no more than 10 years ago;
- Police clearance certificate;
- Medical certificate from a recognized public or private institution confirming that the applicant does not suffer from diseases that may threaten public health (according to WHO regulations);
- Documents confirming the available required annual income for living in the country;
- Travel insurance, valid for at least one year, covering expenses that may arise in the event of repatriation for medical reasons, emergency medical care and / or hospitalization.
To obtain / extend a residence permit:
- Completed application form;
- Three color photos;
- A certified copy of a valid ID and visa of the applicant;
- Receipt of payment of the registration fee;
- A copy of a medical insurance policy with coverage of at least € 30 thousand or a certificate that the applicant applied to the relevant company for its registration;
- Proof that the applicant has a regular legal income (certificate / tax declaration for the last 12 months) or sufficient funds to live in Greece for at least a year;
- A copy of the sale and purchase agreement (or lease) of housing;
- Evidence that the applicant was in Greece for 183 days in a calendar year (when applying for renewal);
- When moving with your family: confirmation of bloodlines.
All documents issued outside of Greece must be translated into Greek, apostilled and notarized.
Additional Expenses
- Registration fees
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National visa application - €180.
The fee for obtaining a residence permit is €450 for each adult. Children under 18 years old are free of charge.
The fee for renewal of the residence permit - €300 for each adult.
The fee for printing a residence permit - €16.
- Legal aid
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Legal assistance in collecting documents, preparing for submitting, filling out applications - about € 1,000 - 2,000 for the main applicant and €500 for each family member.
Power of attorney for a lawyer - €100.
- Additional expenses
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Medical insurance will cost around €200-700 per year, depending on the coverage.
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Rights and Obligations
The applicant has the right to:
- Receive education in Greece, educate the children on an equal basis with the citizens of the country.
- Buy a car in Greece and get a European driving license.
- Travel freely to the EU countries and stay there for up to three months every six months. An exception is the period of consideration of an application for a residence permit: during this period, the applicant receives a special document confirming his legal presence in the country, but it does not allow him to travel to other EU countries.
- Purchase a ready-made or invest in a third-party existing Greek business and receive income, for example from stocks. It is also allowed to receive passive income, for example, from renting out real estate.
- Apply for citizenship after 10 years of residence in the country on the basis of residence permit and permanent residence, but subject to permanent residence in Greece for at least seven years in the context of this period.
The applicant is obliged to:
- Not be employed in Greece. The same rule applies to all family members of a foreigner.
- Open an account with a Greek bank and obtain a tax identification number before applying for a residence permit. This can be done either independently or by proxy through a lawyer.
- If the source of income is the amount of money already available, it should be credited to a Greek deposit account. The minimum amount in this case is € 24,000 (annual income) per applicant plus the corresponding amounts for each family member moving along. If the source of income is a foreign business, passive income, investment income, pension, rent - you need to provide confirmation of the stability of the incoming funds.
