Financially Independent Person (FIP) Residence Permit in Greece
Legal guidance for obtaining residence in Greece through stable foreign income. From eligibility assessment to application and renewal, we ensure a smooth and compliant process.
What is the Financially Independent Person (FIP) Permit?
The Financially Independent Person residence permit allows non-EU citizens to reside in Greece provided that they can demonstrate stable and sufficient financial resources originating from abroad. The permit is regulated by the Greek Immigration Code (Law 5038/2023) and applies to individuals who wish to live in Greece without undertaking employment or business activity within the country.
This residence category is commonly used by retirees, investors, remote entrepreneurs and individuals with passive income who wish to establish residence in Greece. Unlike investment-based residence permits, the Financially Independent Person category does not require the acquisition of property or any other form of capital investment in Greece.
Who can apply:
The Financially Independent Person residence permit is available to third- country nationals who can demonstrate stable and sufficient financial resources originating from outside Greece.
Typical applicants include:
Individuals receiving pension income,
Persons with investment or rental income
Entrepreneurs operating businesses abroad
Professionals who receive income from international sources while residing in Greece
The permit also allows the inclusion of family members, including the applicant’s spouse and dependent children.
Income requirements
Applicants must demonstrate stable financial resources sufficient to support their stay in Greece without employment in the Greek labor market. In practice, the minimum financial threshold generally requires proof of monthly income of at least €3,500 after tax. The required amount increases by 20% for a spouse and by 15% for each dependent child. For example, a married couple would normally need to demonstrate a minimum stable monthly income of approximately €4,200. The income may originate from pensions, dividends, rental income, investment returns, remote professional activity conducted outside Greece or other lawful passive sources of income.
Residence permit duration and renewal
The Financially Independent Person residence permit is issued for a period of three years and may be renewed for additional three-year periods provided that the legal conditions continue to be satisfied. Unlike the Golden Visa residence permit, this category requires actual residence in Greece. For the purpose of renewal, the applicant is expected to reside in Greece for more than 183 days per year, effectively establishing Greece as their primary place of residence.
Work restrictions
Holders of the Financially Independent Person residence permit are not permitted to undertake employment or salaried activity within Greece.
However, they may receive income from abroad, including pension payments, dividends, investment income, remote professional income or other passive financial resources originating outside Greece.
Application procedure
The procedure generally begins with the issuance of a national entry visa (Visa D) by the competent Greek consular authority in the applicant’s country of residence. Following entry into Greece, the applicant submits the residence permit application before the competent immigration authorities together with the required documentation. The application file typically includes evidence of stable financial resources, proof of accommodation in Greece, valid private health insurance and other supporting documentation required by the immigration authorities. Our office provides full legal assistance throughout the procedure, including assessment of eligibility, preparation of the documentation file, submission of the application and monitoring of the process until the issuance of the residence permit.
Financially Independent Person Permit and other residence options
The Financially Independent Person residence permit may function as an alternative pathway to residence in Greece for individuals who do not wish to pursue an investment-based permit such as the Greek Golden Visa. While the Golden Visa requires a qualifying investment in Greece, it does not impose a minimum stay requirement. By contrast, the Financially Independent Person permit does not require an investment but presupposes that the applicant will establish their primary residence in Greece. The appropriate residence pathway depends on the personal circumstances, financial structure and long-term plans of each applicant and should be assessed on a case-by-case basis.
Why choose Greece for passive income residence
Greece has become one of the most attractive destinations in Europe for individuals who wish to relocate based on passive or independent income. The country offers a high quality of life, favorable climate and a comparatively moderate cost of living compared to many other European Union destinations. Residents benefit from access to modern infrastructure, high-quality healthcare services and the possibility to travel freely within the Schengen Area. Greece also offers a stable legal framework for long-term residence permits and several residence options for international residents. For retirees, remote entrepreneurs and individuals with passive income, Greece offers the opportunity to combine long-term residence with a Mediterranean lifestyle and access to the broader European market.
Frequently Asked Questions
Can I work in Greece with a Financially Independent Person permit?
No. Holders of this residence permit are not permitted to undertake employment or salaried activity in Greece. However, they may receive income originating from abroad, such as pensions, investments or remote business activity.
Do I need to live in Greece with an FIP residence permit?
Yes. Applicants are generally expected to reside in Greece for more than 183 days per year, establishing Greece as their primary place of residence.
How long is the Financially Independent Person residence permit valid?
The residence permit is issued for three years and may be renewed for additional three-year periods provided that the legal requirements continue to be met.
Can my family members obtain residence permits as well?
Yes. The main applicant may include their spouse and dependent children in the application, provided that the required financial resources are increased accordingly.
Is property purchase required for the FIP residence permit?
No. Unlike the Golden Visa residence permit, the Financially Independent
Person category does not require a real estate investment in Greece.
Need Legal Support for Your FIP Residence Permit?
We assist individuals and families in obtaining residence in Greece through independent financial means, offering tailored guidance, full compliance, and end-to-end legal support.