Greece Financially Independent Person’s Visa

What is the Greece Financially Independent Person’s (FIP) Visa?

The Greece Financially Independent Person’s (FIP) Visa is a special residence permit designed for third-country nationals (non-EU/EEA citizens) who possess stable and sufficient financial resources to cover their living expenses in Greece without engaging in any form of employment or independent economic activity within the country. It’s a non-lucrative visa, meaning your income must stem from passive sources like pensions, rental income, dividends, or investments.

Purpose of the FIP Visa

The FIP Visa aims to attract individuals who can contribute to the Greek economy through their consumption while not burdening the local job market or social welfare system. It offers a straightforward route for those seeking a long-term stay in Greece, benefiting from its rich culture, affordable cost of living, and strategic location within Europe.

Eligibility Criteria for the Greece FIP Visa

To qualify for the Greece Financially Independent Person’s Visa, applicants must meet several key requirements:

• Non-EU/EEA Citizenship: This visa is exclusively for citizens from countries outside the European Union and European Economic Area.
• Sufficient Passive Income: This is the most crucial requirement.
  • Applicants must prove a minimum stable monthly income of €3,500 from passive, non-employment sources originating outside Greece.
  • This amount increases by 20% for a spouse and 15% for each dependent child included in the application. For example, a couple would need €4,200/month, and a family of four (applicant, spouse, two children) would need €5,250/month.
  • Proof can include pension statements, bank account statements, rental agreements, dividends, or other legal evidence of passive income.
  • Alternatively, some sources suggest a lump sum deposit of €126,000 for a three-year period as proof of funds.
• No Local Employment: FIP visa holders are strictly prohibited from working or engaging in any independent economic activity in Greece. Income must continue to be generated from abroad.
• Age Limit: The primary applicant must typically be 21 years or older.
• Health Insurance: Applicants and all accompanying family members must secure comprehensive private health insurance covering all health risks in Greece.
• Clean Criminal Record: A police clearance certificate from your country of origin is required to demonstrate good character.
• Accommodation in Greece: Proof of a registered address in Greece, either through property ownership or a long-term rental agreement, is necessary.
• Type D Visa: Before applying for the FIP residence permit in Greece, you must first obtain a Type “D” (long-stay) National Visa from a Greek Embassy or Consulate in your country of residence.

Application Process for the Greece FIP Visa

The application for the Greece FIP Visa generally follows these steps:

Step 1: Obtain a National Visa (Type D)

• Applicants must first apply for and secure a National Visa (Type D) from the competent Greek Embassy or Consulate in their country of origin. This visa allows entry into Greece for the purpose of applying for the residence permit.
• An interview in person may be required.

Step 2: Enter Greece and Register

• Upon arrival in Greece, and before your Type D Visa expires, you must register your presence and obtain a Greek Tax Identification Number (AFM) and a Social Insurance Number (AMKA).

Step 3: Submit Your Residence Permit Application

• Within the validity period of your Type D Visa, submit your application for the FIP residence permit to the Aliens and Immigration Department in the region of your Greek residence.
• This step includes submitting all required documents, biometric data (fingerprints and photos), and paying the relevant fees.

Step 4: Await Visa Processing

• The processing time can vary but typically takes a few months. During this period, you may receive a blue certificate (confirmation of submission), which serves as a temporary permit to reside in Greece until a final decision is made.

Step 5: Receive Residence Permit Decision

• Once approved, you will be notified to collect your three-year residence permit card.

Benefits of the Greece FIP Visa

The Greece Financially Independent Person’s Visa offers numerous advantages for non-EU citizens:

• No Investment Required: Unlike programs like the Golden Visa, the FIP Visa does not necessitate a significant real estate investment or economic contribution.
• Freedom of Movement: Enjoy visa-free travel within the entire Schengen Area (29 European countries), allowing for easy exploration and travel across Europe.
• Family Inclusion: The visa extends to your spouse and dependent children (typically under 21), offering a comprehensive residency solution for the entire family.
• Long-Term Residency: The initial permit is valid for three years and can be renewed for equal durations, provided you continue to meet the requirements.
• Pathway to Permanent Residency & Citizenship: After five years of continuous legal residency in Greece, FIP visa holders are eligible to apply for Permanent Residency. After seven years of residency and meeting integration requirements (including Greek language proficiency), you may apply for Greek citizenship.
• High Quality of Life: Access to Greece’s rich history, vibrant culture, beautiful landscapes, and a relatively affordable cost of living compared to many other European countries.
• Access to Healthcare: While private health insurance is mandatory, residents can access Greece’s public and private healthcare systems.

Updates and Considerations for 2025

Recent legislative changes, particularly Law 5038/2023, have introduced important updates to the Greece FIP Visa:

• Increased Income Threshold: The minimum required monthly passive income has been significantly increased from €2,000 to €3,500. This change, clarified in June 2024, aims to ensure applicants have ample resources to support themselves.
• Extended Validity: The initial validity period for the FIP residence permit has been extended from two years to three years, reducing the frequency of renewals.
• Proof of Funds: While passive income remains the primary method, the option to prove funds through a deposit of €126,000 for three years’ expenses is also recognized as a secure method.
• Residency Obligation: FIP visa holders are required to spend a minimum of 183 days per calendar year in Greece to maintain their residency status and for subsequent renewals. This also makes them Greek tax residents.

Tips for a Successful Application

• Start Early: Begin the process well in advance, especially securing your Type D National Visa before entering Greece.
• Verify Income Source: Ensure your passive income sources are clearly documented, stable, and meet the minimum thresholds. Greek authorities are stringent about the legality and reliability of funds.
• Comprehensive Documentation: Double-check that all required documents are translated into Greek by a certified translator (if necessary) and properly apostilled or legalized.
• Professional Guidance: Consider consulting with an immigration lawyer specializing in Greek residency. They can provide personalized advice, assist with documentation, and navigate the bureaucratic process efficiently.

Final Thoughts

The Greece Financially Independent Person’s Visa offers an appealing opportunity for individuals and families seeking a relaxed, culturally rich, and financially independent life in a beautiful European country. With recent updates, the program continues to be a viable option for those who meet its clear requirements, providing a stable path to long-term residency and eventually, citizenship in Greece.