Greece Financially Independent Person Visa: Island Retirement for €24K/Year

Greece’s Financially Independent Person (FIP) visa is the retirement entry point for non-EU nationals who want to live in Greece without working. The income requirement is approximately €24,000/year (~$26,000 USD) in passive income — among the lowest in the EU.

With 6,000+ islands, a Mediterranean climate, and a cost of living that rivals Southeast Asia (outside Athens), Greece is the slow-lifer’s European dream.

The Requirements

• Passive income of at least €24,000/year (pension, investments, rental income)
• Additional €20% per spouse and 15% per child
• Private health insurance valid in Greece
• Clean criminal record
• No intention to work in Greece

The Visa Process

1. Apply at the Greek consulate in your home country for a National (D) Visa
2. Enter Greece and apply for a Residence Permit at the local Decentralized Administration
3. Initial permit: 2 years, renewable
4. After 5 years: eligible for long-term EU resident status
5. After 7 years: eligible for Greek citizenship (requires Greek language proficiency)

The Tax Structure

Greek tax residents (183+ days) face progressive rates up to 44%. However, Greece introduced a Non-Domicile Regime (alternative flat tax):

• Available to new residents investing €500,000 in Greece
• Flat tax of €100,000/year on worldwide income
• Not practical for FIP visa holders (designed for HNW)

For FIP holders on moderate incomes, the standard rates apply but are partially offset by:

• Tax-free threshold of approximately €8,636 for pension income
• Double taxation treaty exemptions (US-Greece treaty covers Social Security)

The Cost of Living (Islands)

Location	Monthly Total (USD)
Crete (Chania, Heraklion)	$900-1,400
Corfu	$800-1,200
Rhodes	$800-1,300
Peloponnese (Kalamata)	$700-1,100
Athens (Plaka, Monastiraki)	$1,200-1,800

The Healthcare

Greece’s public healthcare (ESY) is available to all legal residents. Quality varies — islands have limited specialist care. Private insurance (Interamerican, Eurolife) costs €100-200/month and provides faster, higher-quality access.

Serious medical cases on smaller islands may require evacuation to Athens by ferry or helicopter.