Finnish Immigration Service to raise income requirements for residence permits in Finland

The Finnish Immigration Service, Migri, will raise the income requirements for residence permits at the beginning of November. The income requirement refers to the amount of money a person must have to sustain themselves while living in Finland. According to Migri, the increase is necessary as the limits were last updated in 2013 and do not reflect current living costs.

For example, the minimum net monthly income threshold for a single applicant will rise from €1,000 to €1,210, and the total income threshold for couples will increase from €1,700 to €1,820. The specific income thresholds can be found on Migri’s website.

To meet the financial requirement, applicants must have available funds equivalent to the guaranteed minimum income for Finnish households. The new income thresholds will apply to all family members’ applications and student permits. They will also impact a small number of work-based permits, including those for graduates and researchers, as well as startup entrepreneurs.

Additionally, Migri will also increase the income requirements for working holiday permits and au pair permits. Furthermore, the agency is preparing to possibly raise the income thresholds for work permits in the future. Going forward, these financial requirements will be updated annually based on index adjustments.