About the Greek FIP (Financially Independent Persons) Visa

The FIP residency program is a Greek visa designed for people from non-EU countries. If people have the financial capacity to support themselves and cover their living expenses when they stay in Greece, then they may be eligible for the visa. The financial requirements are subject to change, but at the time of writing, applicants generally require a stable income or sufficient financial resources equivalent to €3,500 per month (€42,000 annually) for a single applicant. Savings may also be considered, subject to the applicable requirements and approval by the Greek authorities.

The good news is that recent changes in the law have resulted in the permit term being extended from two years to three years.

The Financially Independent Persons Visa in Greece is usually suited to retirees – as they have passive income and are often from non-EU countries. However, it applies to eligible applicants of different ages and gives you the freedom to travel within the Schengen area for short stays, subject to the applicable rules. FIP permit holders must also comply with the relevant Greek residence and absence requirements.

Applications generally begin at the Greek consulate. Government fees may include €1,000 for the residence permit and an additional €16 for the issuance of the electronic residence card. National visa application fees and other costs may also apply.

What documentation do you need to apply for an FIP Visa?

In order to apply for an FIP residency permit, you generally need a type “D” visa as well as a number of other documents. The initial visa application process is conducted at the Greek Consular Authority (or application centre) in your country of residence. Key documents include:

Type D Visa.
Scanned copy of your passport (it needs to be a clear, high-quality scan).
Four coloured passport photos taken within the past six months, or as otherwise required by the relevant authority.
Confirmation and evidence of your private health insurance coverage (a certificate from your insurance company is required which details the area and amount of coverage).
Proof of funds. This is generally the hardest part, as the Greek government is relatively strict. You need to show sufficient financial resources (for example, a pension, qualifying income or bank account balances), and relevant foreign documentation may need to be apostilled or otherwise authenticated to prove that it is legitimate. If you are applying with a spouse or child (or children), there is an increase of 20% and 15% respectively in the amount of financial resources you require. The acceptance of salary or other income as sufficient financial resources depends on the applicable rules and individual circumstances.
If you are applying with a family, you need documentation to prove your family status (appropriately certified and apostilled where required), together with relevant residence permit documentation where applicable.

Conditions, requirements and benefits associated with the FIP visa

There are a number of conditions, requirements and benefits associated with the FIP visa. These include:

The potential to apply for long-term residency in Greece after five years, subject to separate eligibility and residence requirements.
The potential to apply for citizenship in Greece (subject to other conditions).
You must comply with the applicable physical presence and absence requirements to maintain your residence permit. Spending more than 183 days in Greece during a relevant 12-month period may also establish Greek tax residency, although tax residency is determined separately under Greek tax legislation and applicable treaties.
Your eligible family members (spouse and children) can apply for residence permits.
The permit gives you residence rights in Greece and short-stay travel rights within the Schengen area, subject to the relevant rules.
You do not need to make an investment like through the Golden Visa scheme, which makes this a very attractive visa option since there is no need to invest substantial capital.
You are not permitted to undertake employment or independent economic activity in Greece under the FIP residence permit.
The FIP visa is renewable as long as you maintain the required health insurance, have the financial capacity to continue supporting your lifestyle and comply with the applicable residence and renewal requirements.

Different Greek visas for different situations, objectives and stages of life

In addition to the FIP visa, there are a number of other residency options which people can consider. These include:

Spouse or family member residence permit: Marriage is not always a prerequisite for eligible non-EU residents who have a qualifying family relationship with an EU citizen.
A long-stay visa, which is called a ‘Type D’ Visa and can be applied for in your country of residence. Depending on the category, this may provide a pathway to a residence permit. More information on Type D visas is available here.
Digital Nomad Visa.
“Golden” or Investor Visa: This has been amended to include a minimum investment of €800,000 for qualifying properties in Attica, the regional unit of Thessaloniki, Mykonos, Santorini and islands with more than 3,100 residents. The standard threshold in other areas is generally €400,000. There is also a minimum requirement of 120 square metres for qualifying properties under these standard investment categories, while specific €250,000 exceptions may apply.
A citizenship application through Greek heritage. This can be complex but is certainly possible for those who meet the applicable Greek ancestry requirements. You need to go through the relevant citizenship application or registration process and provide evidence of your heritage.

Our independent partner lawyers and migration experts are able to assist with your Greek residency requirements and are able to assess your situation and advise you on the most suitable avenue for Greek residency and/or citizenship. Tsaks Consulting provides consultancy, administrative assistance and coordination services, working with these independent professionals. Talk to us today about how we can assist.

Client testimonials

The Tsaks Consulting partners understand the FIP visa requirements, and they explain them to you clearly and concisely. They are professional and responsive the whole way through the process, and they give you the confidence that everything will work out, as they know what they are doing. Overall, we have been very happy with their performance. They are a professional migration advisory service, and their partner lawyers are credible, honest, reliable and reasonably priced. We definitely recommend them.

John and Lisa | FIP Visa | Greece and America

I required guidance on the best migration option to Greece. I looked at the Golden Visa and the FIP visa and did a fair bit of research myself around what was best for me. I should have just gone to Tsaks Consulting from the start. Their partner lawyers are fantastic. They are informative and will guide you through the process. They speak English fluently, and they offer direct, commercial and cost-effective advice. We were happy with the service and guidance provided to us and are confident that the FIP visa was the best way for us to enter Greece.

Peter S | FIP Visa Application | Canada and Greece

Important Clarification

Tsaks Consulting Greece is a business consultancy, not a law firm, accounting practice or regulated immigration legal practice. We provide business consultancy, administrative assistance and coordination services, working with independent immigration lawyers, accountants and other appropriately qualified professionals who provide specialist legal, tax and immigration advice.

FIP visa eligibility, financial requirements, residence conditions and renewal rules may change. The information provided is general in nature and does not constitute personalised legal, immigration or tax advice. Applicants should obtain advice from appropriately qualified independent professionals before submitting an application.