Updated income requirements for Finnish residence permits

The Finnish Immigration Service has announced that new income thresholds for residence permit applicants will affect applications that are submitted on or after 1 November 2024.

The new income thresholds concern the following categories of Finnish residence permits:

• Residence permits for family members.
• Residence permit on the basis of established relationship.
• Residence permit for a person who has completed a degree or qualification or conducted research in Finland (for working or to start a business).
• Residence permit for startup entrepreneurs.
• Residence permit for researchers with own funding.

Background

Usually, the authorities can grant a residence permit only if the applicant has enough money (‘sufficient financial resources’) for living in Finland. Applicants are considered to have sufficient financial resources if their net earnings meet the required level, which is the income threshold in euros determined by the Finnish Immigration Service.

The most recent adjustments to the income thresholds were made in 2013, and the old thresholds did not correspond to the current costs of living. The old income thresholds were lower than the average income of beneficiaries of social assistance.

The amount of money that is required depends on where the applicant lives, since there is regional variation in housing costs. The income thresholds are now divided into three groups:

• Helsinki metropolitan area: Espoo, Helsinki, Kauniainen, Vantaa.
• Other large municipalities: Hyvinkää, Hämeenlinna, Joensuu, Jyväskylä, Järvenpää, Kajaani, Kerava, Kirkkonummi, Kouvola, Kuopio, Lahti, Lappeenranta, Lohja, Mikkeli, Nokia, Nurmijärvi, Oulu, Pori, Porvoo, Raisio, Riihimäki, Rovaniemi, Seinäjoki, Sipoo, Siuntio, Tampere, Turku, Tuusula, Vaasa, Vihti.
• Other municipalities.

New income thresholds

The new income thresholds as of 1 November 2024 are as follows:

Helsinki metropolitan area:

The income threshold for a family increases by 360 euros per each child starting from the third child.

Other large municipalities:

The income threshold for a family increases by 320 euros per each child starting from the third child.

Other municipalities:

The income threshold for a family increases by 310 euros per each child starting from the third child.

Examples of income thresholds for families

• For a family consisting of 1 adult and 1 child who live in Helsinki (group 1), the income threshold is EUR 1,210 + EUR 610 = EUR 1,820 per month.
• For a family consisting of 2 adults and 2 children who live in Tampere (group 2), the income threshold is EUR 1,090 + EUR 550 + EUR 550 + EUR 430 = EUR 2,620 per month.
• For a family consisting of 2 adults and 4 children who live in a municipality that belongs to group 3, the income threshold is EUR 1,030 + EUR 520 + EUR 520 + EUR 410 + EUR 310 + EUR 310 = EUR 3,100 per month.

Income thresholds for permits for studies, au pairing and working holiday as of 1 November 2024

• For the residence permit for studies, the income threshold is 800 euros per month. This also applies to the residence permit issued to students who have graduated or to researchers for the purpose of looking for work or starting a business. Family members of students must meet the income thresholds listed in the tables.
• The required income for a residence permit for au pairs (the amount of pocket money) is 340 euros per month.
• The income threshold for a residence permit for working holiday is usually 2,450 euros for the first 3 months.

For more information on Finnish residence permits, please contact the Global Immigration team at Smith Stone Walters.