As a general overview, the Financial Independent Person’s Visa (FIP) is a residency permit that is best suited for retirees from non-EU countries who can prove a sufficient passive income. These permit holders can travel freely to all Schengen countries during this time, but are required to reside a minimum of 6 months per year in Greece.

The application cost is €1000 for the permit stamp duties, with an additional €16 for the issuance of the electronic card itself.

Recent changes in 2024

According to recent legislation changes regarding the FIP Visa in Greece during June of 2024, the Financial Independent Visa is now valid for three years instead of two. The deposit amount of €48,000 must be shown in the first year, and additional amounts in the second and third year. The applicant can also show (instead of a deposit), a passive income of €3,500 per month from their pensions through bank statements.

Application process

Also note that prior to applying for an FIP residence permit, you will need a “D” Visa to show along with the other validating documents, which you can apply at any Greek Consular Authorities or Visa Application Center in your home country.

To apply for an FIP Visa, you will need:

• Visa Type “D” (as mentioned above)
• Scanned passport copy
• Four recent colored passport photographs
• A private health insurance plan, covering the basic health coverages in Greece. (You can ask the insurance company for a certificate evidencing the area of coverage, and the minimum amount of coverage).
• Proof of sufficient funds corresponding to a stable annual income to cover living expenses i.e. retirement pension, bank account statements, title deeds, social security pension (which needs to be apostilled), lease contracts or any other legal evidence. (Note: The Greek authorities require a stable income at least €3,500 per month, which is increased by 20% if you have a spouse and 15% for each child. Bank deposits are the safest ways to prove your income.)