Financial Independent Person's Visa in Greece (2025 Guide)

The Financial Independent Person’s Visa (FIP) remains one of the most attractive residency options for retirees from non-EU countries who can demonstrate sufficient passive income. This residency permit not only allows holders to reside in Greece but also grants them the freedom to travel across all Schengen countries. However, to maintain the permit, residents must spend a minimum of six months per year in Greece.

In this article, we’ll outline the updated requirements and processes for obtaining an FIP Visa in 2025, including recent changes introduced in 2024, ensuring you have all the information needed for a seamless application.

Recent Changes in 2024

Significant updates to the FIP Visa program were enacted in June 2024, aimed at streamlining the process and extending benefits for applicants:

• Validity Extension: The FIP Visa is now valid for three years, compared to the previous two years.
• Financial Requirements: Applicants must demonstrate a deposit of €126,000 to sustain their expenses for the subsequent three years. Alternatively, a passive income of €3,500 per month (via pensions, investments, or dividends) supported by bank statements, may be provided as evidence.

These changes aim to make the FIP Visa more accessible while maintaining the financial stability criteria for applicants.

Application Process

Before applying for the FIP residence permit, you must first obtain a Type “D” Visa from a Greek Consulate or Embassy in your current country of residence. Here’s a step-by-step breakdown:

Required Documents

1. Type “D” Visa: A prerequisite for the FIP application.
2. Passport: A scanned copy of your valid passport.
3. Photographs: Four recent colored passport-sized photos.
4. Health Insurance: A private health insurance plan covering basic healthcare in Greece. Request a certificate from your insurer specifying the coverage area and minimum amounts.
5. Proof of Funds:
   • Stable annual income sufficient to cover living expenses (€3,500 per month for a single applicant, plus 20% for a spouse and 15% for each child).
   • Evidence can include pension statements, bank account balances, social security pension (apostilled), lease contracts, or other legal proofs.
   • For the full three-year residency, a bank deposit of at least €126,000 is recommended as the safest proof of income.

Family Member Applications

Family members accompanying the main applicant must provide additional documentation:

• Certificate from an insurance carrier for medical and pharmaceutical care coverage.
• Official documents proving family relationships, such as a family status certificate.
• Copy of the sponsor’s residence permit or their FIP application, if submitted simultaneously.

Refusal Rates and Considerations

The refusal rate for FIP Visas remains relatively high due to stringent financial requirements. For example, salaries are often deemed less secure than pensions, and applicants must ensure their funds are clearly documented. A three-year fund must be deposited in advance into a bank account for greater security. Additionally, FIP Visa holders are prohibited from engaging in employment or investment activities in Greece.

Benefits of the FIP Visa

Despite the strict requirements in the application process, which some may find challenging, the FIP Visa offers several advantages, including:

• Freedom of movement across Schengen countries.
• Long-term residency in Greece with a streamlined and straightforward renewal process.
• Access to Greece’s rich culture, affordable cost of living, and scenic landscapes.

Next Steps

Securing Greek residency requires thorough preparation and a clear understanding of the visa options available. If you’re considering the FIP Visa or other alternatives, explore our detailed guides on our blog to weigh the pros and cons of each.

Why Choose My Greek Expat Journey?

At My Greek Expat Journey, we assist expats from around the world in obtaining their residency permits and handling other administrative tasks. With a trusted network of top-rated accountants and lawyers, we ensure a smooth process free from scams. Our transparent communication, up-front fees, and quick responses make relocating to Greece stress-free.

To discuss your options or get personalized assistance, book a 15-minute discovery call with us today. Whether you’re planning retirement in Greece or seeking a new adventure, we’re here to help you navigate the process.