Finland has updated its minimum income requirements for residency permit applicants, with the criteria varying based on the type of permit and the applicant’s location. New updates for fixing the minimum income requirements for residency permit applicants have been announced by the government. Depending on the type of residence permit and the applicant’s location, the income criteria will vary.
Finland’s new income thresholds for residence permit applicants will impact applications that are submitted on or after November 1, 2024. Foreigners immigrating to Finland need Residence Permits for studying or working.
Usually, granting a residence permit requires that you have sufficient financial resources. In other words, you must have enough money to live in Finland. This is sometimes referred to as ‘meeting the income requirement’ or as having ‘secure means of support’.
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The amount of money that you must have at your disposal in Finland is referred to as the ‘income threshold’. There are different income thresholds for different residence permits. The income thresholds are based on the statistics on social assistance compiled by the Social Insurance Institution of Finland and on other sources.
You are considered to have sufficient financial resources if your net earnings meet the required level, which is the income threshold in euros determined by the Finnish Immigration Service.
There are separate salary requirements for work-based residence permits. The salary requirements are based on collective agreements, legislation or statistics.
If there is no collective agreement in your sector or if you work part-time, your gross salary must be at least EUR 1,399 per month in 2024. If you apply for a residence permit as a specialist, you are required to earn a salary that is higher than average. Your gross salary must be at least EUR 3,638 per month in 2024. If you apply for an EU Blue Card, your gross salary must be at least EUR 3,638 per month in 2024.
The exact amount of money or income thresholds you must have depends on which residence permit you are applying for.
Work-based Residence Permits
The amount of money that is required depends on where you live, since there is regional variation in housing costs. The income thresholds are now divided into 3 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
As of November 1, 2024, for 1 adult person, the income thresholds for those in ‘Helsinki metropolitan area’ is set at €1,210/month (net) or €14,520/year (net).
For those in ‘Other large municipalities’, for 1 adult person, the income thresholds is set at €1,090/month (net) or €12,360/year (net).
For those in ‘Other municipalities’, for 1 adult person, the income thresholds is set at €1,030/month (net) or €13,080/year (net).
Residence Permit for Students
For the residence permit for studies, the income threshold is 800 euros per month. When establishing the income threshold for students, several factors, including the lower cost of housing in student accommodation, the subsidised meals, and possible student discounts have been considered. The income threshold of 800 euros also concerns the residence permit issued to students who have graduated or to researchers to look to work or start a business.
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 a working holiday is usually 2,450 euros for the first 3 months.
From September 1, 2024, Finland has introduced stricter requirements for issuing residence permits. An application for a first residence permit must usually be submitted outside Finland. You can get a negative residence permit decision if you apply for a first residence permit in Finland.