How retirees can live in Greece through this long-term visa
Greece does not offer a dedicated retirement visa, but foreign retirees can legally settle in the country through the Financially Independent Person (FIP) visa, a residency route designed for non-EU nationals with stable passive income. The FIP visa allows eligible applicants to live in Greece for three years, with the option to renew, provided they continue to meet income and residency requirements.
Under the FIP visa, applicants must show a minimum passive monthly income of €3,500 or savings of at least €84,000. The income can come from pensions, rental earnings, dividends, or investments. Successful applicants are granted a three-year residence permit and must spend at least 183 days a year in Greece to maintain their status.
How the FIP visa works
The FIP visa is open to non-EU citizens, including retirees from India. Applicants must have a clean criminal record, valid health insurance, and proof of accommodation in Greece, either through renting or owning property. Income thresholds rise if family members are included, with a 20% increase for a spouse and 15% for each dependent child.
The initial visa is issued through a Greek consulate and allows entry into Greece, where applicants must then complete biometric registration and apply for a residence permit. Once approved, the residence card is valid for three years and can be renewed as long as eligibility conditions are met.
Benefits for retirees
Holders of the FIP visa gain visa-free travel across the Schengen Area, access to Greece’s healthcare system, and the ability to bring close family members under family reunification rules. Greece offers both public and private healthcare, with the public system available to residents, though waiting times can be longer.
Tax treatment is another key attraction. Retirees who become tax residents in Greece can opt for a special regime that applies a flat 7% tax on foreign pension income. Greece also has double taxation agreements with several countries, including the US, the UK, Canada and Italy, helping retirees avoid paying tax twice on the same income.
Costs and long-term options
The visa application fee is €75 per applicant, with additional government charges including a €1,000 stamp duty and a €16 residence card fee. Applicants should also factor in costs for document translation, health insurance and legal assistance.
After five years of legal residence, FIP visa holders may apply for permanent residency. Citizenship is possible after seven years, subject to language and civic knowledge tests.
With relatively affordable living costs, a Mediterranean lifestyle and favourable tax rules, the FIP visa has emerged as Greece’s main pathway for retirees looking to settle in the country legally and long term.
Under the FIP visa, applicants must show a minimum passive monthly income of €3,500 or savings of at least €84,000. The income can come from pensions, rental earnings, dividends, or investments. Successful applicants are granted a three-year residence permit and must spend at least 183 days a year in Greece to maintain their status.
How the FIP visa works
The FIP visa is open to non-EU citizens, including retirees from India. Applicants must have a clean criminal record, valid health insurance, and proof of accommodation in Greece, either through renting or owning property. Income thresholds rise if family members are included, with a 20% increase for a spouse and 15% for each dependent child.
The initial visa is issued through a Greek consulate and allows entry into Greece, where applicants must then complete biometric registration and apply for a residence permit. Once approved, the residence card is valid for three years and can be renewed as long as eligibility conditions are met.
Benefits for retirees
Holders of the FIP visa gain visa-free travel across the Schengen Area, access to Greece’s healthcare system, and the ability to bring close family members under family reunification rules. Greece offers both public and private healthcare, with the public system available to residents, though waiting times can be longer.
Tax treatment is another key attraction. Retirees who become tax residents in Greece can opt for a special regime that applies a flat 7% tax on foreign pension income. Greece also has double taxation agreements with several countries, including the US, the UK, Canada and Italy, helping retirees avoid paying tax twice on the same income.
Costs and long-term options
After five years of legal residence, FIP visa holders may apply for permanent residency. Citizenship is possible after seven years, subject to language and civic knowledge tests.
With relatively affordable living costs, a Mediterranean lifestyle and favourable tax rules, the FIP visa has emerged as Greece’s main pathway for retirees looking to settle in the country legally and long term.
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