Retire in Finland from the US: the 2026 family reunification income requirement, who is exempt, and where a lifetime annuity fits
Written by Hans Goldstein, licensed insurance agent · CA 4273294Short answer: Finland has no retirement visa, and for a family residence permit in 2026 Migri’s net income threshold in the Helsinki area is €1,210 a month for one adult (about $1,416 at $1.17 per euro) and €1,820 for a couple (about $2,129), lower elsewhere; spouses of Finnish citizens are exempt. Migri counts your or your spouse’s pension, assets or other income, so a US lifetime annuity in either spouse’s name can count. Savings count too, which is often the cheaper route. Finland has no wealth tax.
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People who want to retire in Finland from the US ask me fewer questions than Norway or Sweden, but the pattern is the same: a Finnish-born spouse, an American partner, and a plan to retire near family. The first thing to know is good news for most of those couples. Here is how Migri (the Finnish Immigration Service) applies the income requirement in 2026, and an honest read on when a lifetime annuity is worth it there.
Who has to meet the income requirement
- Spouse of a Finnish citizen: exempt. Migri lists the spouse, minor child, or the parent or guardian of a Finnish citizen among those who do not need to show sufficient financial resources. The same applies to former Finnish citizens and their family members.
- Spouse of a foreign resident: required. If your partner lives in Finland on a residence permit but is not a citizen, the household must meet the threshold. Since 16 June 2025 both spouses must also be at least 21. If the sponsor is a Finnish citizen, the sponsor is not held to the age rule, but the incoming spouse must still be 21 when the permit becomes valid.
- Retirees with no Finnish family: no retiree visa. Migri’s “other grounds” permit is for special grounds judged case by case, such as an established relationship with a Finnish resident. Travel does not qualify, and retirement alone is not a listed ground.
Single or married: how much income you need to retire in Finland
Migri still applies the thresholds set on 1 November 2024. A single adult in the Helsinki area needs €1,210 (about $1,416); a couple €1,820; each child adds the amounts below (first child about $714). The household’s income counts together, the American applicant’s included, and spouses of Finnish citizens are exempt. FX: $1.17 per euro, a planning rate; the ECB reference rate was $1.1225 on 2 October 2026, so these dollar figures include about 4% of headroom. They are net figures, after tax and pension and insurance contributions, and they depend on where you will live.
| Person in household | Helsinki area | Other large municipalities | Other municipalities |
|---|---|---|---|
| 1st adult | €1,210 | €1,090 | €1,030 |
| 2nd adult | €610 | €550 | €520 |
| 1st child | €610 | €550 | €520 |
| 2nd child | €480 | €430 | €410 |
| Each further child | €360 | €320 | €310 |
| Couple, no children | €1,820 (about $2,129) | €1,640 (about $1,919) | €1,550 (about $1,814) |
The Helsinki area means Espoo, Helsinki, Kauniainen and Vantaa. “Other large municipalities” include Tampere, Turku, Oulu, Jyväskylä, Kuopio and others on Migri’s list. Migri can deviate slightly for families with children in exceptionally weighty cases.
Why I write about this. My mom is Norwegian, my dad is American, and they’re planning the move from the US to Norway. My mom is the sponsor (the host, or “reference person” in UDI’s words), so Norway’s income test falls on her income, not my dad’s. UDI told us in writing that money in an account does not count as income, and only lifelong income does. Their savings were not the problem; the paperwork wanted a monthly number in the host’s name. The rules in Finland are different, but the problem is the same one many retirees hit: the income test, not the net worth. I’m writing this to help others in the same boat as my parents. Read how we worked through the Norway income requirement.
In the same boat? Let’s run your numbers
See roughly what a lifetime annuity would cost to close your income gap, then get my personal read by email. I can help while you still live in the US.
Estimates use the September 9, 2026 ImmediateAnnuities.com payout survey (life only) and a 15% cushion. Illustrative, not a quote.
What counts, and where an annuity fits
Migri’s spouse page lists acceptable sources as your or your spouse’s employment or business income, and your or your spouse’s pension, assets or other income, such as rent or dividends. Social assistance and unemployment-type benefits do not count. Two things follow:
- The American applicant’s own income counts. A US pension, Social Security or a lifetime annuity paid to you can be added to the sponsor’s income.
- Assets count too. Migri does not ask for a lifetime income stream, and for “other grounds” permits it accepts enough money in your own bank account to cover the permit period (€1,210 a month, or €14,520 for a year, in the Helsinki area). So in Finland a SPIA is a convenience, not a necessity.
Where the annuity earns its place: a household that must meet the test at every extension and does not want to show a shrinking balance each time, or a couple whose savings are tied up in a house or retirement accounts. Monthly income for life documents the same way in year five as in year one.
When the sponsor is not the breadwinner
Finland is the easy case. Migri lists acceptable sources as your or your spouse’s pension, assets or other income, so the household’s combined income counts, including the American applicant’s own Social Security, pension or annuity. If the spouse in Finland earns little and you hold the pensions and savings, the annuity can be in either spouse’s name. Buy it while you still live in the US, priced on the age and sex of whoever is the annuitant, and start payments well before applying so the deposits show in your records.
US gift note (general information, confirm with a tax adviser): between two US-citizen spouses, gifts are unlimited. If the sponsor is not a US citizen, there is no unlimited marital deduction; for 2026 the annual exclusion for gifts to a non-citizen spouse is $194,000. Above that you file Form 709 and use part of your lifetime exemption, and generally no tax is due.
Example: a 62-year-old American moving to Finland
Targets, Helsinki area, plus 20% because the test is after tax and the dollar moves: single €1,210, about $1,416, so about $1,699 gross; couple €1,820, about $2,129, so about $2,555. A single person needs a qualifying ground first, since retirement alone is not one. Payout at 62: ImmediateAnnuities.com survey of September 9, 2026, life-only, per $100,000 a month: man $603 average ($660 best), woman $582 ($637 best). Illustrative, not a quote.
| Buyer, 62 | Monthly gap | Premium at average rate | Premium at best rate |
|---|---|---|---|
| Single man, no other income | $1,699 | about $282,000 | about $257,000 |
| Single woman, no other income | $1,699 | about $292,000 | about $267,000 |
| Couple, no other income, annuity on the husband’s life | $2,555 | about $424,000 | about $387,000 |
| Couple, $1,600 a month Social Security started at 62 | $955 | about $158,000 | about $145,000 |
Premium equals the monthly gap divided by the payout per $100,000, times $100,000. A joint and survivor annuity pays less per dollar than single life; get a quote. Be honest with yourself about the alternative: because Migri accepts assets, showing savings is usually cheaper than buying income, for example €14,520 in your own account covers a year at the Helsinki single rate on an other-grounds permit. The annuity earns its place only if you want income that documents the same way at every extension.
Which annuity counts
Migri does not require lifelong income. A life-only or joint and survivor SPIA, or a deferred annuity or MYGA converted to lifetime payments, is the cleanest evidence of steady income. A period-certain annuity or an income rider still pays income while it runs, and an annuity still accumulating is an asset, which Migri also accepts; confirm with Migri how it weighs each.
Three common cases
| Your situation | Does an annuity help? |
|---|---|
| Spouse is a Finnish citizen or former citizen | Not for the permit: the income requirement does not apply |
| Spouse holds a Finnish residence permit, household income below the threshold | Yes. Your own annuity counts alongside your spouse’s income |
| No Finnish family ties, planning to retire | Probably not: there is no retiree permit to qualify for, whatever your income |
How the annuity is taxed: Finland and the US
| Item | Rule |
|---|---|
| US annuity paid to a Finnish resident | Taxable only in Finland under Article 18(2) of the US-Finland treaty; the saving clause (Article 1(4)) lets the US keep taxing its citizens, and Article 23(3) sets out the double-tax relief for a US citizen living in Finland |
| US Social Security | Taxable only in the US under Article 18(1)(b), which also covers US citizens (it is carved out of the saving clause) |
| How Finland classifies a US SPIA | Not settled. Vero’s cross-border pension guidance (version of 25 September 2026) treats payments from a foreign voluntary pension policy that do not meet its conditions as capital income, taxed at 30% up to €30,000 and 34% above, and says that only the investment return is taxable for savings from contributions paid on or after 1 January 2027. Read literally, a contract bought before then could be taxed on the whole payment. For after-tax savings programmes the Supreme Administrative Court (KHO 2018:55) taxed only the return. Get Vero’s or a Finnish adviser’s written view before buying |
US side. As a US citizen you stay taxable on worldwide income wherever you live. A US single premium immediate annuity bought with after-tax savings is taxed under IRC 72: an exclusion ratio makes part of each payment a non-taxable return of your premium until the premium is recovered. If you bought it with IRA money, every payment is taxable. The foreign earned income exclusion does not cover annuities (IRC 911(b)(1)(B)(i)). Foreign tax on the payments can be credited on Form 1116, through the treaty’s relief article where there is one. Since January 1, 2026, a US citizen with a foreign residence address cannot opt out of federal withholding, even if payments go to a US account (IRC 3405(e)(13), Treas. Reg. 31.3405(e)-1). Withholding is a prepayment, not extra tax. An annuity from a US insurer is not reported on FBAR or Form 8938, and it is not a PFIC.
Net result. Finland has the first right to tax the annuity, and the US credits Finnish tax against its own. If Vero taxes only the return part, the two taxes are similar and the annuity is roughly neutral. If Vero taxes the whole payment at 30%, Finnish tax becomes the binding one and the annuity is costlier there than drawing down savings, which is one more reason the savings route usually wins in Finland.
Does Finland have a wealth tax?
No. Finland has no net wealth tax, so neither your savings nor a US annuity is taxed on its value. The question for an annuity in Finland is only how the payments are taxed as income, covered above.
Practical steps if you use an annuity
- First check whether your spouse is a Finnish citizen or former citizen. If so, the income requirement likely does not apply.
- Buy while you still have a US address, life-only with no cash-out feature, and get an insurer letter stating the amount “for the lifetime of the annuitant”.
- Start payments 3 to 12 months before applying so statements show real deposits.
- Size for the net threshold: leave room for Finnish and US tax.
The trade-offs, once: the premium is irreversible, payments are level unless you add a cost-of-living rider, and they arrive in dollars. In Finland, buy one only if steady income solves a problem your savings or the citizen exemption do not.
Married? Make the income outlive either of you. In Finland spouses may add their incomes together, so two smaller annuities, one on each spouse, can work as well as one larger one. If a single-life annuity is on one spouse and that spouse dies first, the payments stop, and the surviving spouse may have to show income of their own at the next renewal. A joint and survivor annuity, which keeps paying until the second death, or a separate annuity on each spouse closes that gap. Joint and survivor pays less per dollar than single life, so ask for both quotes and compare.
Frequently asked questions
Free annuity gap analysis for Finland. Tell me your ages, your Social Security or pension, and whether you are single or a couple. I will show how far your income is from the Finland requirement and what a lifetime annuity would cost to fill the gap, in the sponsor’s or main applicant’s name where that matters.
Related reading
- Moving abroad on a fixed income: hub
- Sweden maintenance requirement 2026
- Moving to Norway: the Norway hub
- Denmark family reunification requirements
- How European countries tax a US annuity
- FBAR, FATCA and double taxation
Sources
- Migri: Income requirement
- Migri: Income requirement for family members
- Migri: Spouse in Finland with a residence permit
- Migri: Amendments to family reunification provisions 2025
- Migri: Residence permit on other grounds
- Migri: Coming to Finland on other grounds
- Vero: Taxation of pension income in cross-border circumstances (25 September 2026)
- Migri: Spouse is a Finnish citizen
- US-Finland 2006 Protocol (saving clause Art. 1(4) and 1(5))
- Vero: Capital income
- PwC Worldwide Tax Summaries: net wealth tax rates by country
- IRS: tax inflation adjustments for 2026 (gifts to a non-citizen spouse)
- US-Finland income tax treaty (IRS text)
- 26 U.S.C. 3405 (withholding on pensions and annuities)
- ImmediateAnnuities.com: annuity rates by age (survey September 9, 2026)
Goldstein & Co. LLC dba Goldstein Insurance Services · Hans Goldstein, licensed insurance agent, CA lic. #4273294 · NPN 20602398 · 213-414-2808 · hans@hansgoldstein.com
Education, not tax, legal or immigration advice. Rules, thresholds and exchange rates change; confirm with the consulate or immigration authority and a local tax adviser before you act, and get answers in writing. Hans Goldstein is a licensed insurance agent (CA 4273294) and can only offer annuities to residents of states where he is licensed. Annuity payments are guaranteed by the issuing insurer’s claims-paying ability, not by any government. Payout figures are illustrations from a published survey, not quotes. Immediate annuities are generally irrevocable.