One condition for being granted a work and residence permit according to the sports agreement is that an athletic association in the Faroe Islands has agreed to pay the applicant at least DKK 13.068,18 per month. The monthly payment and other conditions must be evident in a written contract between employer and employee (in accordance with Løgtingslóg nr. 20 frá 08.05.2008) and included when applying. 
The sports agreement allows the holder of a sports permit to work extra with any employer on the sole condition that the payment from extra jobs does not exceed DKK 12.062,94 per month (total). When holding a sports permit, no written job offer is needed regarding extra jobs.  
According to the sports agreement the aforementioned amounts are updated annually.

Work and residence permits according to the sports agreement are granted for max. one year at a time.