Understanding maintenance requirements for residency in Sweden

In a previous post, we discussed the changes to the maintenance requirement for individuals applying for work permits in Sweden. However, the much-debated salary requirement for work permits is not the sole maintenance criterion in Swedish immigration law. Depending on the type of residence permit you are seeking, the income requirement can vary significantly. Here's a breakdown of the maintenance criteria for some of the most applied residence permits:

Employee visa/Work permit

For a work permit, you are required to earn at least 80% of the Swedish median wage at the time of application. Currently, this translates to a minimum monthly income of 27,360 SEK. If your partner is accompanying you, you must have enough funds to support both of you. In 2023, this means you need at least 9,445 SEK per month after taxes and accommodation costs. 

Self-Employed Residence Permit

As a self-employed individual, you need at least 100,000 SEK per year in disposable income. If you wish to bring your partner, an additional 50,000 SEK per year is required, and for each accompanying child, a minimum of 25,000 SEK.

Student Residence Permit

Students must demonstrate sufficient resources to support themselves during their studies in Sweden. This entails an income equivalent to 18% of the annual base amount, amounting to 9,450 SEK per month in 2023. For an accompanying partner, an additional income of approximately 3,938 SEK per month is required, and for an accompanying child, around 2,368 SEK per month.

Residence Permit for Job Seekers

Individuals coming to Sweden to seek employment or explore business opportunities must be able to support themselves. Applicants must demonstrate disposable assets of at least 13,000 SEK per month throughout the entire permit period, along with sufficient resources to fund a potential return journey.

Permanent Residence Permit

Those seeking to extend their temporary residence permit to a permanent one must have a disposable income of at least 5,717 SEK per month in 2023, after accommodation expenses are covered. To be granted permanent residency, applicants must prove that they will meet the income requirement for at least 18 months into the future. In this regard, it is important to note that additional income might be required depending of which legal ground the permit application is based on.

As mentioned, the income needed and how it is calculated can vary significantly depending on the specific residence permit you are applying for. Therefore, it is crucial to always ensure which specific maintenance requirement applies in your case. Understanding the different income requirements is crucial for anyone considering a move to Sweden, ensuring a smooth application process, and setting realistic expectations for the financial responsibilities associated with different types of residence permits.