Finnish Immigration Service Increases Income Thresholds for Residence Permit Applicants

Starting November 1, the Finnish Immigration Service (Migri) will implement higher income threshold requirements for those applying for residence permits. Under the current regulations, single adults must demonstrate net annual earnings of €12,000. However, with the new changes, applicants will need to show an increased yearly income of €14,520 to qualify for a residence permit in Finland.

Migri has indicated that this decision will also impact household income thresholds, with the required income rising in proportion to the number of individuals in the household. Students will face a significant increase as well, with their monthly income requirement rising from €560 to €800.

These changes will apply to new applicants, while current permit holders will not be affected until further notice. The new income requirements will also extend to residence permit applicants who are conducting research in Finland, particularly those whose research is funded by personal finances.

"We may deviate from the income threshold by a maximum of 15 per cent due to lower housing costs in certain regions, for example," the Finnish Immigration Service (Migri) noted, indicating that some flexibility will be allowed based on regional cost-of-living differences.

Additionally, the income requirement for au pairs will see an increase from €280 to €340 per month, while applicants for working holiday permits will need to demonstrate €2,450 for the first three months of their stay, up from the current €2,000.

The rationale behind these adjustments is to ensure that applicants have sufficient financial resources to support themselves while residing in Finland. "When establishing the income threshold for students, we have considered several factors, including the lower cost of housing in student accommodation, the subsidised meals, and the possible student discounts," Migri explained. This same income threshold will also apply to residence permits issued to students or researchers who intend to seek employment or start a business in Finland.

The new income thresholds are based on the Social Insurance Institution of Finland’s (Kela) essential social assistance payments in the Helsinki metropolitan area and have been adjusted to reflect changes in housing and healthcare costs.

From 2015 to 2023, Finnish authorities granted nearly one million residence permits, with 978,506 issued to non-EU immigrants. Furthermore, Finnish authorities have announced that stricter rules for acquiring citizenship will come into effect on October 1, 2024.

By fLEXI tEAM