Financial Independent Persons

Residence Permit in Greece

 A Residence Permit for Financial Independent Persons (FIP Residence Permit) is a residence permit type applicable to third country-nationals willing to reside in Greece. After the implementation of Law 4251/2014 re: “Immigration and Social Integration Code and other provisions” more preferential provisions were introduced regarding the issuance of residence permits, thus making Greece one of the most popular EU countries attracting many third country citizens wishing to obtain EU Residency. The breadth of our expertise and the depth of our experience, as built throughout the years, has offered us the opportunity to handle numerous FIP Residence Permit cases ensuring a smooth and successful outcome, exceeding the expectations of our respected clientele.

General Information

Pursuant to article 20 [section A] of Law 4251/2014, as amended by law 4332/2015 (Gov. Gaz. Α 76/9.7.2015), by decision of the Secretary General of the Regional Administration, a two-year residence permit can be granted to a thirdcountry national under the condition that sufficient financial resources will be proven in terms of a stable annual income necessary to support personal & family expenditure per year. The aforementioned third-country national may be accompanied by his/her family members, who will be granted an individual residence permit, which shall expire together with the residence permit of the sponsor.

Minimum amount per month

The amount of the sufficient resources is currently provided in a Joint Ministerial Decision No. 41712/2014 (issued pursuant to para. 7 of Article 136 of the aforementioned Law). The sufficient resources must be equal to the minimum amount of €2.000 euros per month. In the event that the said third-country national is accompanied by members of his family (spouse, children), this amount is increased by 20% for the spouse and by 15% for every child. The requirement of sufficient resources must be met either by each family member or by all family members in aggregate.

The total amount of the resources may be proved indicatively: by a foreign pension scheme, by bank account statements, title deeds, lease contracts or/and any other evidence that can prove sufficient legally acquired financial means to cover the living expenses during their residence in Greece, without providing salaried work or exercising any independent economic activity. The above documentary evidence must prove:  a) the stability of the applicant’s income, b) the minimum monthly amount of the income and c) the legal resources of the income.  Please note that pursuant to Greek legislation, the stable monthly income must not originate from employment salary payable in the applicant’s country.

Duration & Renewal

The residence permit for the financially independent persons is valid for two years and it can be renewed for three years each time such renewal is requested, provided that the other requirements are continuously met. The residence permit for family members shall expire or be renewed simultaneously with the permit of the sponsor. The periods of absence from the country shall not hinder the renewal of the residence permit.

Visa Type D issued by the local Greek Consular Authorities

As a prerequisite for the issuance of a residence permit for Financial Independent Persons is stipulated by the law the issuance of a specific type of Visa, namely Visa D. The applicant appears in person before the Greek Consular Authorities or the competent Visa Application Center which is closer to his/her permanent residence and submit the general and specific supporting documents. This procedure shall also include an interview. The national visa granted shall be valid for a maximum period of one year.

 Supporting documents for the main applicant

  1. A duplicate application form and four (4) recent colored photographs under the technical specifications set forth for the passport photographs, and the photographs in digital format (CD) in JPEG 2000 file format.
  2. A true photocopy of a valid passport with the stipulated applicable visa.
  3. A deposit fee equal to €1.000,00 (the deposit fee amounts to €150,00 for the applicant’s spouse).
  4. A public duty amounting to €16,00 for the issuance of the electronic card itself.
  5. Documentation which proves the possession of sufficient legally acquired resources corresponding to a stable annual income to cover the applicant’s living expenses (while being in Greece). The amount of the sufficient resources may be evidenced by a foreign pension scheme, a bank account statement, title deeds, lease contracts or any other legal evidence.

The above-mentioned documentary evidence must prove:

  • the stability of the income (at least for a year before the application – as recent practice of Greek Embassies has shown),
  • the minimum monthly amount of the income and
  • the legal resources of the income.
  1. An insurance policy with full medical, pharmaceutical and hospital care coverage during the residence in Greece (we cooperate with an insurance company which we usually suggest to our clients).
  2. A real estate lease contract in Greece (if exists).

Supporting documents for family members  

  1. All the above-mentioned supporting documents for the granting of the residence permit of the main applicant.
  2. * Applicant’s children are not subject to public duties.
  3. A certificate issued by an insurance carrier concerning the coverage of hospitalization and medical and pharmaceutical care expenses.
  4. A recent family status certificate or any other official documents issued by the foreign authorities proving the family relationship.
  5. A true copy of the residence permit of the sponsor or a copy of the application for a residence permit, when submitted simultaneously.

 

For any further information and clarifications please do not hesitate to contact our qualified legal team, ready to provide you with further personalized information tailored to your needs and your profile. You can email us: inquire@law-services.gr or call/text us directly at : +306908351705

Athens, April 2020

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