Residence Visa/ Self Financial Support

Greece, among other jurisdictions, provides a Residence Visa scheme, entitling beneficiaries thereof to a residence visa enabling them to travel within Schengen countries. Two pillars of this scheme are investment and property acquisition. However, they are not the only ones.

Another alternative for a resident of a third country to obtain the residence visa is to prove that he is a “financially independent individual”. As a result, third-country nationals may become eligible for the Residence Visa provided they have sufficient resources and a stable annual income level for covering their living costs. According to applicable ministerial decree, sufficient resources are defined to a minimum of two thousand euro (2,000€) per month. In case of a family, this amount increases by 20% for the spouse and by 15% for every child.

Residence visa of this category does not allow access to the employment market.

Contributing Advisors