The entry into force of Law 5038/2023 on April 1, 2024, enforced the FIP (Financially Independent Persons) Residence Permit for third country individuals.

The residence permit for Financially Independent Persons is now the “residence permit for third-country nationals with sufficient resources” (I.8 residence permit), and the conditions for its issuance are regulated in Article 163 case 8 L. 5038/2023.

If a third-country national has been granted, by a Greek Consular Authority, a national visa D as a person with sufficient resources, they may apply to the Directorate of Foreigners and Immigration of their place of residence for the issuance of a residence permit, proving that they have sufficient resources at the level of stable annual income to cover monthly living expenses*.

The new FIP residence permit is granted for a duration of three (3) years (and not as previously for 2 years) and can be renewed for an equal period.

Family members of the main applicant (spouse, children till the age of 18) can also apply and receive a separate residence permit which will expire simultaneously with the residence permit of the main applicant. The requirement of sufficient recourses can be met by the main applicant or by all the family members cumulatively.

It is reminded that the FIP residence permit does not grant access and the right to labor market or to an independent economic activity of any kind in Greece.

*Up until the publication of this article the minimum monthly required income has not yet been changed and remains at the amount of 2.000 euros per person, increased by 20% for the spouse and 15% for every child.

Law Office Stathaki can help you apply for a Financially Independent Persons (FIP) residence permit and navigate this process with professional and to-the-point advice. Contact us today here.