Finland Raises Income Bar for Residence Permits

Effective from 1 November 2024, the Finnish Immigration Service (Migri) will implement increased income requirements for residence permit applicants. These changes affect various categories of residence permits, including those based on work, studies, and family ties. The primary goal of these adjustments is to ensure that individuals residing in Finland have sufficient financial means to support themselves without relying on public assistance.

Work-Based Residence Permits: For applicants seeking a residence permit based on employment, the minimum gross monthly income requirement will increase. Previously, the minimum income was set at €1,000 after tax per month , but starting from 1 November 2024, it will rise to €1,210 after tax per month. This adjustment reflects the rising cost of living and aims to ensure that foreign workers can adequately support themselves while living in Finland.

Student Residence Permits: International students will also face higher financial requirements. The previous requirement mandated that students have at least €560 per month or €6,720 per year to cover living expenses. With the new changes, students must demonstrate a minimum of €800 per month or €9,600 per year. This increase is intended to align with the actual costs students incur and to promote a focus on studies without financial stress.

Residence Permits Based on Family Ties: For those applying for residence permits based on family ties, the income requirements will depend on the size of the family. For example:

• A couple without children previously needed a combined income of €1,700 after tax per month, which will increase to €1,820 after tax per month.
• A family with one child required €2,200 after tax per month, now rising to €2,430 after tax per month.
• A family with two children needed €2,600 after tax per month, which will increase to €2,910 after tax per month. These adjustments aim to ensure that families have sufficient resources to support all members without needing financial assistance from the state.

The Finnish government has introduced these changes in response to the rising cost of living and to promote better integration of newcomers. By increasing the income requirements, authorities aim to reduce the likelihood of financial difficulties that could strain public resources. These changes primarily affect non-EU/EEA nationals seeking to reside in Finland.

Prospective applicants planning to apply for residence permits after 1 November 2024 should review the new income requirements carefully. It is crucial to prepare the necessary documentation to prove sufficient financial means, such as updated bank statements, revised employment contracts, or official scholarship award letters. Those who may be adversely affected by the changes might consider submitting their applications before the new regulations take effect or adjusting their financial plans accordingly. You can find more details from the Finnish Immigration Service official page.

Our office will continue providing legal and/or administrative services with diligence and empathy, as immigration matters can significantly impact people’s lives. If you are facing legal issues, do not hesitate to contact us.