Finnish Immigration Service to change income thresholds for residence permits as of 1 November 2024
The income thresholds determined by the Finnish Immigration Service will increase in the beginning of November. The increase of the income thresholds is an overall increase. The update of the general income thresholds is based on statistics from the Social Insurance Institution of Finland (Kela) regarding the average expenses and income of beneficiaries of social assistance in 2023.
The principle for determining the income thresholds has been to require residence permit applicants who must meet the income requirement to have an amount of funds at their disposal that corresponds to the minimum level of subsistence guaranteed to Finnish households.
“We determine certain net sums as income thresholds which customers must meet in order to secure sufficient financial resources. We have found it necessary to raise the income thresholds because the latest adjustments were made in February 2013 and the old thresholds do not correspond to the current costs of living. Under the Aliens Act, a person who applies for a residence permit is considered to have sufficient financial resources if he or she cannot be expected to become dependent on social assistance. For this reason, it is deemed necessary to raise the income thresholds so that applicants have enough funds for living in Finland,” says Johanna Waal, Director of the Legal and Specialist Services Unit.
The new income thresholds apply to all family members' permits and students’ permits. They also apply to a small section of permits issued on the basis of work, including:
- residence permits for persons who have completed a degree or qualification in Finland or conducted research in Finland
- residence permits issued for a student or researcher to look for work or to start a business
- residence permits for startup entrepreneurs
- the residence permit for a researcher when there is own funding involved.
The income thresholds for working holiday permits and au pair permits will increase as well.
“These income thresholds do not affect the income threshold for the residence permit for an employed person, which may increase in the future. A possible increase of the income threshold for that permit is currently under preparation. We will inform of this at a later stage. Moving forward, the thresholds will be reviewed and updated every year in the form of index increases,” says Waal.
Media enquiries
Johanna Waal, Director of Legal and Specialist Services Unit, firstname.lastname@migri.fi, tel. 0295 433 037
