Valmas & Associates, Greek Law Firm, Greek Lawyers, FIP Residence, Lawyers in Greece, Attorney in Greece, Legal Services Athens - Thessaloniki
Financially Independent Persons - FIP Residence
As of 01/01/2024, the new Greek Immigration Code has come into force (Law 5038/2003) also affecting the former FIP Residence Permit.
The residence permit for Financially Independent People (FIP) is now called, following the implementation of the New Immigration Law (Law 5038/2023):
“Residence Permit for Persons with Sufficient Financial Means” (Residence Permit Type I.8)
The permit is regulated by Article 163 par. 8 of Law 5038/2023.
It is therein provided that citizens of a third country (non-EU countries) who have received an entry visa (National Visa – Type D) persons with sufficient means, they can request from the compentent Authority (Aliens and Immigration Department of their place of residence) the granting of a residence permit.
The main requirement is proff that they have sufficient means i.e. fixed annual income for the cover living expenses. There is no mention to the exact amounts/thresholds of the financial means per month (a subsequent ministerial decision will provide for the exact amounts which are not expected to deviate from the ones under the former FIP Permit).
The length of the residence permit has been raised to three (3) years (from 2 years under the previous law). Renewals also last for three (3) years, on condition that the requirements are fulfilled at the time of renewal.
Third country citizens can be accompanied by their family members, incuding spouses and children under 18 years old (their permits are of the same length as the main applicant's). Financial means' thresholds increase proportionally if spouses and/or children are accompanying the main apllicant.
Under the previous regime thresholds of 2,000 EUR per month were increased by 20% for the spouse and by 15% for each child.
This permit does not provide any access to the employment market (or the opportunity of running your own business) in Greece.
A minimum stay of 6 months per year is required in order to be eligible for a renewal.
The permit allows travel and visa-free access to countries within the Schengen Area.
Income from sources such as pension, long-term tenancies is an acceptable source of fixed income.
The residence permit for Financially Independent People (FIP) is now called, following the implementation of the New Immigration Law (Law 5038/2023):
“Residence Permit for Persons with Sufficient Financial Means” (Residence Permit Type I.8)
The permit is regulated by Article 163 par. 8 of Law 5038/2023.
It is therein provided that citizens of a third country (non-EU countries) who have received an entry visa (National Visa – Type D) persons with sufficient means, they can request from the compentent Authority (Aliens and Immigration Department of their place of residence) the granting of a residence permit.
The main requirement is proff that they have sufficient means i.e. fixed annual income for the cover living expenses. There is no mention to the exact amounts/thresholds of the financial means per month (a subsequent ministerial decision will provide for the exact amounts which are not expected to deviate from the ones under the former FIP Permit).
The length of the residence permit has been raised to three (3) years (from 2 years under the previous law). Renewals also last for three (3) years, on condition that the requirements are fulfilled at the time of renewal.
Third country citizens can be accompanied by their family members, incuding spouses and children under 18 years old (their permits are of the same length as the main applicant's). Financial means' thresholds increase proportionally if spouses and/or children are accompanying the main apllicant.
Under the previous regime thresholds of 2,000 EUR per month were increased by 20% for the spouse and by 15% for each child.
This permit does not provide any access to the employment market (or the opportunity of running your own business) in Greece.
A minimum stay of 6 months per year is required in order to be eligible for a renewal.
The permit allows travel and visa-free access to countries within the Schengen Area.
Income from sources such as pension, long-term tenancies is an acceptable source of fixed income.
Leaders in Greek Real Estate Law & Greek Golden Visa.
|
Legal |
Languages
|
|
© 2024 Valmas Associates | Greek Law Firm, Greek Lawyers
|
|