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What are the requirements for renewing a Greek residence permit for financially independent individuals?
I understand that the initial residence permit issued to a financially independent individual is two years, and it is possible to renew this permit every three years. What are the requirements for renewal? Does the applicant need to have health insurance coverage in Greece?
Answers
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Besides the general documentation such as valid passport, insurance contract for health coverage in Greece, photos, etc., special supporting documents are requested to be submitted as follows: evidence that you own sufficient resources of legal origin at a fixed annual income level to cover subsistence costs without providing dependent employment or self-employed economic activity. The amount of sufficient resources is set at 2,000 euros per month or 24,000 euros per year, as evidenced by a foreign pension, a bank account, or any other legitimate proof. Please bear in mind that the above amount is per the main applicant and has to be proved for three years. To summarize, the above elements must also demonstrate the stability of the applicant's income, the minimum income level per month 2,000 euros, and the legal origin of income.
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The renewal of a residence permit for economically independent persons requires evidence that the person has sufficient means of subsistence at a fixed annual income level. The amount is determined by the common ministerial decision provided for in Article 136 (7) of Law 4251/2014, which is currently set at a minimum of 2,000 euros per month. If the third-country national is also accompanied by family members, this amount shall be increased by 20% for the spouse and 15% for each child. The amount of resources is mainly proven by a pension provided abroad or a Greek bank account. In the case of third-country nationals who are entitled to a pension from a Hellenic Insurance Agency, their residence permit may be renewed on the basis of Article 20 of Law 4251/2014, regardless of the amount of the pension. In addition to supporting documents proving the existence of sufficient financial resources, the third-country national must additionally provide a certificate that he has full medical and nursing coverage during his stay in Greece or a statement that he or she has lodged an application with an insurance institution.
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