Greece Financially Independent Person (FIP Visa)
Overview
The Financially Independent Person (FIP) Visa, officially known as the Residence
Permit for Persons with Sufficient Financial Means, allows non-EU nationals to
legally reside in Greece without employment or business activity.
It is designed for individuals who can support themselves through passive or external income sources, such as pensions, investments, savings, or rental income.
This permit is ideal for retirees, remote wealth holders, and individuals seeking long-
term residence in Greece without working locally.
Legal Basis
The FIP visa is regulated under:
Greek Immigration Code – Law 5038/2023 (Article 163)
Financial Requirements
To qualify, applicants must demonstrate stable financial independence:
Minimum Income Requirement
- €3,500 per month net income (main applicant)
Additional Dependents - +20% for spouse
- +15% per dependent child
Alternative Option (Savings Route)
Applicants may also qualify through significant bank savings, typically:
- Equivalent to €3,500/month for the duration of stay
- Funds may need to be held in a Greek bank account during residence period
Accepted income sources:
- Foreign pensions
- Investment dividends
- Rental income
- Interest income
- Trust distributions
Not allowed:
- Employment income (including remote work)
- Active business income
Eligibility Requirements
Applicants must:
- Be non-EU / non-EEA / non-Swiss citizens
- Be at least 18 years old
- Have stable financial resources outside Greece
- Show clean criminal record
- Hold valid private health insurance
- Provide proof of accommodation in Greece
- Apply via Type D national visa before arrival
There is no age restriction, making it suitable for both retirees and younger
financially independent individuals.
Processing Timeline
Step 1: Visa Application (Consulate)
- 2–6 weeks depending on embassy workload
Step 2: Arrival in Greece - Residence permit application submitted immediately
Step 3: Government Processing
- 2–4 months standard review period
Step 4: Total Timeline
� 3 to 6 months on average
Permit Duration & Renewal
- Initial permit validity: 3 years (commonly issued)
- Renewal: every 3 years (subject to compliance)
Renewal depends on:
- Continued financial independence
- No employment in Greece
- Maintaining residence requirements
Absence allowed from Greece (typically up to 6 months/year without issue in many
cases)
Key Benefits
No Employment Requirement
Live in Greece without needing a job or business activity.
Family Inclusion
- Spouse included
- Dependent children included
Schengen Mobility
Travel freely within the Schengen Area (90/180 rule).
Lifestyle Advantage
- Low cost of living compared to Western Europe
- High-quality healthcare (private insurance required)
- Mediterranean climate and lifestyle
✔ Flexible Residency
No mandatory investment or property purchase required.
- Applicants with a signed employment contract with a Portuguese employer
- Professionals across a wide range of sectors (e.g., hospitality, construction,
manufacturing, services, healthcare, education, IT) - Candidates whose role does not necessarily meet “highly qualified” (D3) positioning, but is still lawful employment in Portugal
Important Clarification
The FIP visa is often misunderstood as a retirement visa, but:
It is actually:
A financial independence residency permit
It is NOT:
- A work visa
- A digital nomad visa
- A business visa
Who This Visa Is Best For
Ideal for:
- Retirees with pensions
- High-net-worth individuals living off investments
- People with rental or dividend income
- Early retirees (FIRE lifestyle applicants)
Not suitable for:
- Active professionals working remotely
- Entrepreneurs running businesses
- Low passive income earners
Summary
The Greece Financially Independent Person (FIP) Visa is one of the simplest long-
term residency options in Europe for individuals with stable passive income.
- Requirement: ~€3,500/month passive income
- Processing: 3–6 months
- No investment or property required
- Family included
- No work allowed in Greece
- Schengen access included
