The continent of Europe, with countries with strong economies, advanced educational and medical infrastructures, numerous job opportunities, original historical attractions and unique natural landscapes, has become one of the best areas in the world for living or traveling. Every year, many people from all over the world apply for European residency, depending on their conditions, some of them are successful and some are unsuccessful. There are many ways to obtain European residency. One of these ways is to obtain European residency through financial means. Financial capability is a document that proves to the destination country that you do not need to work and will be financially secure if you travel to this country. But today, in this article, we are going to examine obtaining European residence through financial ability from 0 to 100. Follow us till the end.
Obtaining European residency through financial ability
One of the popular ways to immigrate to Europe is to obtain residency through financial ability. This method allows applicants who have sufficient financial resources to live in Europe without the need to work, to receive residency in certain countries of this continent. The applicant must prove that he can support himself and his family in Europe without having to work. This level of affordability varies in different European countries, but in general it is around 18,000 to 24,000 euros per year for a single person and 30,000 to 36,000 euros per year for a family. Also, the applicant must obtain valid health insurance for himself and his family in Europe. It is worth noting that the applicant must be able to prove his financial ability by providing valid documents such as bank statements, property documents, investment certificates, etc.
Benefits of obtaining European residency through financial ability
Fast: The process of obtaining residence through financial means is relatively faster compared to other methods of immigration to Europe.
No need to find work: Applicants do not need to find work in Europe to extend their stay.
Ability to travel freely to the countries of the Schengen Area: Residents with financial means can travel freely among the countries of the Schengen Area.
Access to high-quality educational and medical services: Financially able residence holders have the same rights and benefits as European citizens in the field of education and treatment.
But finally, obtaining European residency through financial resources can be a suitable opportunity for people who have sufficient financial resources and are looking to live in a safe, stable and advanced country in Europe.
In which countries is it possible to obtain residency through financial ability?
First of all, we must say that not all countries have a program to provide residence through financial ability. In other words, only some European countries have made it possible for people to obtain residence in these countries through financial resources. Countries such as Greece, France, Spain, Portugal, Austria, Switzerland and Italy are the countries where it is possible to obtain residency through financial resources. Stay with us to explore this issue further.
Greece
Greece is a historical and original country in Southeast Europe located in the Balkan Peninsula. Many people consider Greece to be the birthplace of philosophy. The country of Greece today, with the various reforms it has made in its economy, has been able to provide better economic conditions in this country and in this way attract tourists and even applicants for residence. But what are the conditions for obtaining Greek residency through financial ability?
In order to obtain a residence permit, at least 56,000 euros are required to be deposited in the bank. Note that increasing this amount can increase your chances of getting this visa. Mostly, people with an amount of around 60-70 thousand euros get Greek residency through financial ability. Note that proof of financial means you must have a minimum income of 24,000 euros for yourself, 4,800 euros for your spouse and 3,600 euros for your child per year. Also, you will need at least 32,400 euros of income for a year’s stay in Greece.
Portugal
Another touristic and beautiful European country is Portugal, which in recent years has paid a lot of attention to attracting people from different countries through various programs such as buying property and financial resources. Applicants must deposit an amount of around 10,000 Euros in the bank of this country to receive a European financial empowerment visa for Portugal. If this person is married, another 6,000 euros will be added to the previous amount. Note that the financial capacity for the applicant is 9,000 euros, for the spouse 4,500 euros, and for each child 3,000 euros. Therefore, it is not possible to announce a fixed price for this issue.
So if you also intend to live in this safe and beautiful European country and want to get a Schengen visa by staying there, contact us now.
Spain
But Spain is another recreational and wealthy country in Europe, which has become one of the most popular tourist and immigration destinations today with its strong economy, modern educational and medical infrastructure, as well as many tourist attractions such as numerous beaches. In order to receive a Spanish visa, you must first deposit an amount of around 7,000 euros in the financial institutions of this country. Then you have to prove that you earn at least 2500 euros per month. This amount increases in case of marriage. An income of 1,000 euros per spouse and 500 euros per child is required in order for you to qualify for Spanish residency through financial ability.
It is worth noting that this visa is issued for one year and the applicant is required to live in Spain for at least 6 months of the year in order to convince the Spanish government to agree to the extension request.
France
But let’s go to France, the dream of many people in the world. France is known as one of the most special countries in the world due to its powerful economy and providing many job opportunities, along with prestigious universities and many tourist attractions. But what are the conditions for obtaining residence in this country through financial ability? This plan is one of the fastest and easiest ways to obtain French residency, during which people do not need to invest in France. In order to obtain French residency through financial means, the applicant is required to prove that he has at least 3,000 euros of fixed monthly income from valid foreign sources and that he has a valid passport with a minimum validity of one year.
If the applicant is married and has a child under 18 years old, he must add 1400 Euros for accompanying spouse and 750 Euros for each child under 18 years old to his fixed monthly income in France. Therefore, a typical family must have a monthly income of more than 5,000 euros to be able to convince the French government to issue them a visa. It is worth noting that an applicant for a residence permit in France must own real estate in the country of birth and must also have a history of travel to the Schengen area. If people are able to continuously extend their residence for 5 years, after ten years, they will be able to obtain permanent residence in France.
Italy
Italy, the fashion capital of the world, a country that has been able to make good progress in terms of economy and income in recent years, is another European country in the Schengen area that has created programs to provide accommodation through financial ability. The initial capital of the applicant to stay in Italy must be at least 32 thousand euros. Of course, this amount is only for the person himself. If people want to bring their spouse or children with them, this amount is subject to change. In general, for the spouse of the applicant, 7,000 euros for each child under 18 years of age, 2,000 euros are added to the initial amount, and the residence of financial resources in Italy is offered for one year. After 4-5 years, this residence can become permanent and the applicant can continue to live in this country as an Italian citizen.
Austria
But obtaining a residence permit in Austria is slightly different and more expensive than the other countries we have mentioned. In order to obtain Austrian residence through financial ability, the applicant must have an income of 3000 euros per month in order to receive a visa. In addition, the applicant must provide a house in this country for his visa to be valid. If the applicant buys a house, he can easily extend this visa for different times. But if the applicant rents a house in this country, the owner of that house must testify that the applicant is living in this house with his family.
Today, due to the ideal economic and job conditions in Austria, the demand for residence in this country has increased significantly. So if you wish, you can also benefit from the experience and expertise of Nobility Institute consultants.
Thank you for joining us in this article. As you have seen, in this article, we have fully introduced European residency through financial resources and introduced countries through which respected applicants can become European residents. Note that staying in Europe can be a good option for the advancement of life due to this continent’s many natural resources, strong economy, innovative educational and medical infrastructure and numerous job opportunities. Nobility Immigration Institute is specialized in the field of consulting for obtaining residence in Europe and Greece through financial means. You can contact us for more information and free consultation.