Increases in income required of residence permit applicants as of 1 November 2024

The income thresholds determined by the Finnish Immigration Service will increase in the beginning of November. Read this customer bulletin to find out what the income thresholds are, why the required sums will increase, and what the new thresholds will be.

Please observe the following: 

• Regarding work-based permits: Out of all work-based permits, the income thresholds presented in this customer bulletin only concern the following permits: residence permit for persons with a degree or qualification completed in Finland; residence permit on the basis of research completed in Finland; residence permit for startup entrepreneurs. In addition, the thresholds presented here apply to the residence permit for a researcher when there is own funding involved. 
• The income thresholds presented in this customer bulletin are not applicable to the residence permit for an employed person. However, a possible increase of the income threshold for that permit is currently under preparation.  We will inform of this at a later stage. 

The new income thresholds will enter into force on 1 November 2024. They will be applied to applications submitted on or after that date. The new income thresholds will be updated on our website on 1 November 2024.

Moving forward, we will review and update the thresholds every year in the form of index increases.

What is an income threshold?

In most situations, a residence permit can be issued only if the applicant has sufficient financial resources for living in Finland.

You 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.

Regional differences in costs will be observed when we assess your financial resources. We may deviate from the income threshold by a maximum of 15% due to lower housing costs in certain regions, for example. 

Why do we raise the income thresholds?

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. The current income thresholds are lower than the income of beneficiaries of social assistance on average. This means that the old thresholds are not sufficient to meet the income requirement laid down in law.

How do we determine the income thresholds?

The basis of the income thresholds is the statistics from the Social Insurance Institution of Finland (Kela) regarding the average expenses and income of beneficiaries of social assistance in 2023.

The income thresholds are based on the basic social assistance granted in the Helsinki metropolitan area and on the housing costs and healthcare expenses that are observed when granting social assistance.

Income thresholds as of 1 November 2024

The income thresholds will increase as follows: