Residency in Greece for Financially Independent Persons (FIP)
Residency in Greece can be acquired in a number of ways. In addition to the Golden Visa policy, Greece has introduced a renewable residency permit for financially independent third-country non E.U nationals , according to article 20 of Greek Law No. 4251/2014.
Who can apply?
- Non-E.U financially independent persons who can demonstrate sufficient funds corresponding to a stable annual income to cover living expenses in Greece. Currently this amount is set at a minimum of €2000.00 euros per month (i.e. twenty four thousand euros per year) for the main applicant. This amount is increased by 20% if the applicant is accompanied by a spouse and an additional 15% for each child.
How is the income proved?
- Evidence of sufficient bank account deposits, or
- Evidence of sufficient employment income from sources derived outside Greece, or
- Annual pension, or
- Other sources of income ( rental income, dividends, share or asset sales from business holdings) or
- Any combination of the above.
The benefits of the FIP residency permit
- This residency permit allows the applicant, and family members who fulfill the criteria to live in Greece for an unlimited amount of time.
- There is currently no requirement to purchase real estate under this plan.
- The residency is not revoked if the applicant remains outside Greece for any period of time provided that the renewal process is not obstructed.
- The family of the applicant can also benefit. The term ‘Family’ means, spouse and unmarried children under the age of 18 and are regarded as dependents of the applicant.
- The FIP permit allows the applicant and family to travel and remain within Schengen area countries for periods not exceeding 3 months per 6 month periods.
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