Greece FIP Visa: Residence via €3,500-a-Month Passive Income

The Greece FIP Visa (Financially Independent Person Visa) is a residence permit for non-EU/EEA citizens who can support themselves financially from passive income earned abroad and wish to live in Greece without working or running a business there. It is a popular residence option for retirees, investors who have stepped back from active business, people living on dividends or rental income, and anyone with a stable passive income.

Unlike the Golden Visa programme, which requires a large real estate or financial investment, the Greece FIP Visa does not require a fixed investment and instead focuses on the applicant’s long-term financial capacity. This article sets out the income requirements, application process, benefits, limitations and who this option suits, under the 2026 legal framework following Law 5038/2023.

Legal basis of the Greece FIP Visa

The FIP Visa was first established under Article 20 of Law 4251/2014, then amended and expanded through several later instruments. The current legal basis is the Immigration Code 5038/2023, effective from 1 January 2024, which carries the entire FIP Visa framework forward with some important changes to the minimum income level and permit duration.

In the Immigration Code 5038/2023, the FIP Visa is formally classified as the “Residence Permit for Persons with Sufficient Financial Means”. The FIP name remains in common use in practice and on the official website of the Greek Ministry of Migration and Asylum to keep it recognisable to the international investor community.

The minimum income was raised from €2,000 a month (under the old rule) to €3,500 a month under Law 5038/2023, for a single applicant. The change reflects the rising real cost of living in Greece and ensures FIP applicants have financial capacity in line with the average standard of living in the Schengen area.

Income and financial conditions

Passive income requirement

The minimum income of €3,500 a month applies to a single applicant and rises on a cumulative formula for family members. A spouse adds 20% (€700 a month), and each dependent child adds a further 15% (€525 a month). A family of four (a couple and two children) must show a minimum income of around €5,250 a month.

Illustrative minimum income by family structure:

Family structure	Minimum income/month	Minimum income/year
Single applicant	€3.500 EURO	€42.000 EURO
Spouse	€4.200 EURO	€50.400 EURO
Couple + 1 child	€4.725 EURO	€56.700 EURO
Couple + 2 children	€5.250 EURO	€63.000 EURO
Couple + 3 children	€5.775 EURO	€69.300 EURO

The income source must be genuinely passive, meaning the applicant keeps receiving it without carrying out active day-to-day work. Accepted sources include pensions, rental income from property abroad, dividends from shares, interest from government or corporate bonds, distributions from investment funds, and royalty income from intellectual property.

Savings-based alternative

Where an applicant does not have passive income meeting the €3,500-a-month level, this can be replaced with a savings deposit held at a Greek bank. The recommended minimum savings for a three-year residence period is €126,000 for a single applicant (€3,500 × 36 months), equivalent to enough to cover the full duration of the permit.

Some sources cite lower alternative levels, including €72,000 for a single applicant, €86,400 for a couple, or €112,000 for a family of four. These figures, however, usually cover only two years and do not guarantee approval, since the receiving authority may require proof of sufficient finances for the full three-year term. This is why legal advisers recommend the €126,000 level for the safest application.

Income sources that are not accepted

Income from employment, salary from a company, and profit from active business operations are not accepted as a basis for the Greece FIP Visa. This rule is considerably stricter than equivalent programmes elsewhere in Europe, such as the Portugal D7 Visa or the Italy Residenza Elettiva, where self-employment income is sometimes still accepted.

The receiving authority verifies passivity through lease contracts, official pension decisions, dividend payment statements from companies, and at least 12 months of bank account history. Where an income source shows signs of being active (for example, dividends from a company where the applicant is the sole managing director), the application faces a high chance of refusal.

Other requirements for applicants

Besides the financial condition, Greece FIP Visa applicants must meet the standard personal requirements of the Immigration Code. Applicants must be third-country nationals (not from the EU/EEA), aged 18 or over, hold a passport valid for at least 12 more months at the time of application, and have no serious criminal record in Greece or in their home country.

Applicants need a private health insurance policy valid in Greece, covering all health and safety risks to the standard set by the Greek Ministry of Health, together with an official confirmation from the insurer of the scope and level of cover. The insurance must remain valid for the entire intended residence period and meet the minimum cover required.

Applicants must have a health certificate from a recognised medical facility confirming they do not carry infectious diseases that could threaten public health. They must also have lawful accommodation in Greece, evidenced by a long-term lease, a property purchase contract, or a commitment from a Greek national acting as sponsor.

Application process for the Greece FIP Visa

Step 1 — Apply for a National Type D Visa

Before travelling to Greece, applicants must obtain a National Type D Visa from the Greek Embassy or Consulate in their country of residence. The Type D Visa file includes: passport, passport-size photos, application form, a legalised judicial record, proof of income, a health insurance policy, a health certificate, and proof of accommodation in Greece.

The Type D Visa is valid for 12 months, allowing the applicant a single entry into Greece and a stay of up to 365 days. During this time, the applicant must complete the application for the FIP residence permit at the local Decentralized Administration office. The Type D Visa fee ranges from €150 to €300, depending on the consulate and the applicant’s nationality.

Step 2 — File the FIP application in Greece

After entering Greece on the Type D Visa, the applicant has 90 days to file the FIP residence permit application at the Decentralized Administration office covering the intended area of residence. The application includes the originals of the documents used for the Type D Visa, together with a lease contract or property ownership document in Greece, the permit fee receipt, and registration for a tax number (AFM) with the tax authority.

While the application is being processed, the applicant is issued a temporary certificate (blue paper) allowing lawful residence in Greece. The official statutory processing time is 2–6 months from the date the complete application is filed. In practice, given the caseload at Decentralized Administration offices, it can take 6–9 months in Athens and Thessaloniki, and less time in rural areas.

Step 3 — Biometrics and card collection

Once the application is approved, the applicant attends the local office to complete biometrics (fingerprints and a facial photo). The physical residence card is delivered within 4–8 weeks of biometrics. The card fee is €16 per electronic card. The FIP card is valid for 3 years and can be renewed without limit as long as the applicant continues to meet the original conditions.

Benefits of the Greece FIP Visa

A Greece FIP Visa holder is issued a 3-year residence permit, renewable in 3-year terms. Throughout this period, the applicant and family members can freely enter and leave Greece without needing further visas, and can also travel throughout the Schengen area for up to 90 days in any 180-day period.

Holders gain access to Greece’s public and private healthcare systems, at a quality on a par with the rest of the EU, and can enrol children in public schools (free) or private/international schools. A spouse can be sponsored with a permit of the same duration. Children under 21 can be sponsored with no limit on numbers. A legally recognised cohabiting partner under Greek law also receives the same benefits as a spouse.

After 5 years of continuous residence under the FIP Visa, an applicant is eligible to apply for long-term EU residence. After 7 years of continuous residence, they can apply for naturalisation under Citizenship Law 3284/2004, which involves a Greek B1 language test and a test on Greek culture and history. Greek citizenship carries an EU passport with the right to live and work freely across all 27 EU member states.

Key limitations to note

Minimum residence requirement of 183 days a year

Unlike the Greece Golden Visa does not require minimum residence, the Greece FIP Visa requires residence of 183 days or more each year to keep the permit. This rule was first introduced under Law 4686/2020 and remains in the Immigration Code 5038/2023. Falling short of 183 days in a given year results in the permit being refused at the next renewal.

The tax consequence of this rule is that an FIP Visa holder automatically becomes a Greek tax resident under the Greek Tax Authority (AADE), and must declare worldwide income and pay personal income tax under the Greek tax schedule. This is a core difference from the Golden Visa, where an investor can hold residence without becoming a tax resident by staying under 183 days.

Prohibition on working or running a business in Greece

The Greece FIP Visa strictly prohibits holders from working for a Greek business, setting up a business in Greece, or carrying out any active economic activity. Breaching this rule leads to revocation of the residence permit and possible deportation from Greece. Holders may continue to manage a business abroad remotely and receive dividends and profits, as long as they do not carry out work directly on Greek territory.

This is an important limitation that needs careful thought. If an applicant is likely to need part-time work in Greece after settling (for example, online consulting or freelancing), the FIP Visa is not the right fit. The alternative in this case is the Greece Digital Nomad Visa which allows remote work for a foreign company.

Tax incentive for foreign retirees

Greece offers a special tax incentive for FIP Visa holders with foreign pension income. Under the pension tax policy introduced in 2020 and still in force in 2026, retirees who move their tax residence to Greece pay a flat 7% rate on all foreign pension income for 15 consecutive years, instead of the progressive rate of up to 44% under the ordinary tax schedule.

To qualify, an applicant must meet all of the following at once: not having been a Greek tax resident for at least 5 years before applying, having a bilateral tax treaty in place between Greece and their home country, and filing for this scheme with the Greek tax authority before 31 March of the applicable tax year. Details on this incentive and other tax schemes are set out in the article taxes in Greece.

For investors with diverse passive income (dividends, rental, royalties), Greece’s Non-Dom 5A scheme is also available if at least €500,000 is invested in assets in Greece. This scheme allows a flat tax of €100,000 a year on all worldwide income, and suits people with very large assets and income.

Comparing the FIP Visa with the Greece Golden Visa

Criteria	Visa FIP	Golden Visa
Basis	Passive income	Real estate/financial investment
Minimum level	€3,500/month	€250.000-€800.000 EURO
Validity	3 years	5 years
Minimum residence	183 days a year	Not required
Tax resident	Mandatory	Optional
Allowed to work in Greece	No	No
Sponsoring children	Under 21 years of age	Under 21 years of age
Sponsoring parents	Yes (with proof)	Yes (no proof needed)
Citizenship pathway	After 7 years	After 7 years

The FIP Visa suits investors who intend to genuinely reside in Greece, have stable passive income, and want the most tax-efficient path for retirees. The Golden Visa suits investors who want to keep their main life in their home country and only need Greece as a “Plan B” for EU residence papers, without being tied to tax residency.

Who the Greece FIP Visa suits

This option suits three groups best. The first is retirees with an official pension above €3,500 a month, particularly from the United States, the United Kingdom, Canada, Australia and EU countries. The 7% pension tax rate creates a significant tax advantage compared with the rate in their home country.

The second group is investors who have stepped back from active business and live on company dividends or rental income from properties in several countries. This group has financial capacity comparable to Golden Visa investors but prefers the flexibility of not being tied to holding an asset in Greece.

The third group is families with school-age children who want a European education of EU quality at lower cost. Greece has a free public education system, and international schools in Athens and Thessaloniki with fees much lower than in the United Kingdom or Germany. The FIP Visa meets a family’s genuine residence needs without requiring a property investment.

Summary

The Greece FIP Visa is a non-investment residence option for people with stable passive income of €3,500 a month or more, or equivalent savings of €126,000. Its main advantages are that it requires no fixed investment, offers a clear path to citizenship after 7 years, and carries a special 7% tax rate for foreign retirees for 15 consecutive years. In return, applicants must accept a genuine residence requirement of 183 days a year, become Greek tax residents, and cannot work there.

The next step for investors considering the Greece FIP Visa is to review their existing passive income sources in detail, verify that they qualify as passive income under Greek law, and plan long-term tax arrangements based on the family’s asset structure. See further the Greece Digital Nomad Visa if the income comes from remote work for a foreign company, or the Greece Golden Visa if keeping a main life in Vietnam is the priority.