Starting from November 1, 2024, Finland is changing the income rules for foreign nationals applying for residence permits. These changes only apply to applications submitted on or after that date.
What is an Income Threshold?
When you apply for a residence permit in Finland, you must show that you have enough money to live without relying on government help (social assistance). The amount of money you need is called the income threshold. If your income meets or is above this amount, you will be considered financially stable.The Finnish Immigration Service sets this amount based on national data about living costs and average income.
Why Are the Income Thresholds Changing?
The income rules are being updated because the old ones were from 2013, and they don’t reflect how much it costs to live in Finland today. The new thresholds are more in line with the current cost of living.These income thresholds will be updated every year to keep up with changes in the cost of living.
How Are the New Thresholds Decided?
The new income thresholds are divided into three groups based on where you live:
- Helsinki Metropolitan Area (Helsinki, Espoo, Vantaa, etc.)
- Other Large Cities (like Tampere, Turku, Oulu)
- Other Municipalities (smaller towns and rural areas)
Income Thresholds Starting November 1, 2024
Here’s how much money you need to live in Finland based on where you live:
1. Helsinki Metropolitan Area
1 adult: €1,210/month or €14,520/year
2nd adult: €610/month or €7,320/year
1st child: €610/month or €7,320/year
2nd child: €480/month or €5,760/year
3rd child: €360/month or €4,320/year
If you have more than two children, the threshold increases by €360 per child starting with the third child.
2. Other Large Cities (e.g., Tampere, Turku, Oulu)
1 adult: €1,090/month or €13,080/year
2nd adult: €550/month or €6,600/year
1st child: €550/month or €6,600/year
2nd child: €430/month or €5,160/year
3rd child: €320/month or €3,840/year
For families with more than two children, the income threshold increases by €320 per child starting with the third child.
3. Other Municipalities (Smaller towns or rural areas)
1 adult: €1,030/month or €12,360/year
2nd adult: €520/month or €6,240/year
1st child: €520/month or €6,240/year
2nd child: €410/month or €4,920/year
3rd child: €310/month or €3,720/year
For families with more than two children, the income threshold increases by €310 per child starting with the third child.
Special Cases
If your income is just below the threshold, the Finnish Immigration Service might make an exception, especially if you have children. They may consider your family situation or other important reasons.
Income Requirements for Certain Permits
For Students:
You need €800 per month. This is because student housing is cheaper, and students often get discounts on food and other things.
For Au Pairs:
The required income is €340 per month, which is the pocket money for au pairs.
For Working Holiday:
The required amount is €2,450 for the first 3 months.
Conclusion
If you’re applying for a residence permit in Finland after November 1, 2024, make sure your income meets the new requirements. These thresholds help ensure you can support yourself and your family without needing social assistance. Always check the income requirement for your specific situation to avoid delays in your application.