Anyone who wants to visit one of the countries in the Schengen region has to submit certain supporting documents with their Schengen Visa Application. He or she also has to prove that they have the financial means of subsistence, i.e. that they can support themselves during the visit and pay all the costs related to the trip, for example, accommodation and travel costs within the Schengen Area.
Many applicants should not find it difficult in meeting these financial requirements. The only drawback is that they are not the same in all Schengen states, so you need to familiarize yourself with the requirements of the state or states you plan to visit. For visa purposes, the subsistence requirements will be based on your main destination within the Schengen area, i.e. the country where you will arrive first or where you will spend the most time.
What types of documents will be accepted as proof of financial sufficiency?
The following documents are acceptable:
- Credit cards
- Traveller’s checks
- Bank statements for at least the last 3 months
- Proof of employment
- Pay slips
- Documents from a sponsor to prove that he or she will accept responsibility for your expenses during the trip. The sponsor has to hold a legal residence permit for that country.
- Proof that you have prepaid your transport and/or accommodation
- Documentary proof that you will be staying with a family member or friend. This can be in the form of a letter from that individual.
What are the financial requirements for a Schengen Visa?
Despite attempts to create a more uniform system, when it comes to the amount of money a visa applicant needs to have for every day of their visit, the different living costs in each Schengen country still necessitate different rules.
That is why it’s advisable to confirm the specific amounts of available funding required by the Schengen country you will be visiting or that will be your main destination. As a general rule, however, apart from the cost of your accommodation, most Schengen countries will accept funds of more or less €50 per day to cover the rest of your expenses.
More information about the visa financial requirements of the various Schengen countries
Belgium – Everyone who applies for a Belgian Schengen Visa must provide proof that he or she has at least €95 per day if they are staying in a hotel. Those who stay in cheaper accommodation only need to prove they have €45 or more available per day.
Czech Republic – The Czech Republic requires proof that visa applicants have available at least €42.50 for every day of their visit. For stays of longer than 30 days, they have to provide proof of at least €1,274 plus an additional €170 by the end of every month.
Denmark –This country’s visa code requires that visa applicants must prove financial sufficiency of at least €67.24 for every day of their visit. This, however, only applies in case you are staying in a hotel. If you have booked accommodation in a guest house or similar type of establishment, this amount is reduced to €47.07 per day. If you have prepaid your accommodation before your trip starts, or you are fortunate enough to have a sponsor, the minimum amount will be further reduced.
Estonia – In Estonia, the minimum amount of available funds is a relatively high €100 per day.
Finland – In Finland, that country’s Ministry of Foreign Affairs has determined that visa applicants must show proof of at least €30 for every day they intend to visit.
France – France requires different funding levels, depending on the circumstances. If you haven’t pre-paid your accommodation, you need to have €120 for every day of your trip. If you will be staying in a hotel, you need to have €65 a day, and for cheaper accommodation €32.25 per day is sufficient.
Germany – In Germany the minimum daily amount of available funds you should have at your disposal is €45.
Hungary – In Hungary, you only have to prove that you have €3.19 available before your Hungary Schengen visa application can be approved. There is no daily minimum amount. This country leaves it in your own hands to do the financial planning for your trip.
Iceland – If you are applying for an Iceland Schengen visa, you will have to prove that you have funds of at least €28.83 available for every day of your stay. Apart from that, you will also have to prove that you have €144.13 of available funds every time you visit this Nordic country.
Italy – To prove that you have sufficient funds for your visit to Italy, you will need at least €269.60 for the first five days. After that, the following rules apply:
- Between 6 and 10 days: An additional €44.93 per day
- Between 11 and 20 days: An additional €51.64 (fixed amount) plus €36.67 per day
- More than 20 days: A fixed amount of €206.58 plus €27.89 per day
Liechtenstein – In the case of Liechtenstein, you will have to prove to their consulate or embassy that you have a minimum of €92.34 for every day of your visit. If you are a student, however, this country will allow you entry if you have €27.70 per day – provided that you have a valid student ID.
Latvia – When applying for a Schengen visa to visit Latvia, you need to have a minimum of €14 for each day of your visit. For a 21-day visit, you will, therefore, have to provide proof of €294.
Lithuania – In the case of Lithuania, you have to provide proof that you have at least €40 to sustain yourself for every day you spend in the country.
Luxembourg – This Schengen country has until now not specified any minimum amount but this could change in the future.
Malta – Visitors applying for a Malta Schengen Visa must show proof that they have available a minimum amount of €48 per day to cover their costs while in the country.
Netherlands – The Netherlands only requires proof that you have available funds of €34 per day.
Norway – Visitors to Norway have to show proof that they have at least €53.34 per day available when applying for a Norway Schengen Visa.
Poland – To meet the financial requirements for a Schengen Visa to visit Poland, you need to show proof that you have the following amounts available:
- For a 3-day (or shorter) stay a total of €67.76
- For longer stays, €22.59 per day
- If you have already paid for your accommodation, or it is being sponsored by someone else, you only need to have €4.52 per day
Portugal – The minimum amount you should have available in order to get a Portugal Schengen visa is €40 per day plus the entry fee of €75. These requirements might be waived if you can prove that your accommodation and food will be paid for by a third party.
Slovakia – For Slovakia, you have to provide proof that you have at least €56 available for every day of your visit.
Slovenia – In the case of Slovenia, the daily minimum amount that you must have available before getting a Schengen visa for this country is €70.
Spain – In Spain you need a minimum of €583.74 for the first 10 days of your visit plus €64.86 for every day after that.
Sweden – If you want to apply for a Sweden Schengen Visa, you have to prove financial support of at least €48.26 for every day of your visit.
Switzerland – In the case of Switzerland, the daily minimum amount you should have available is €92.34. If you are still studying and you have a valid student ID to prove it, however, this amount is reduced to €27.70 per day.
Are there any other visa-related financial requirements when I apply for a Schengen Visa?
One thing you should not lose sight of when planning a trip to the Schengen region is that you will need health insurance/travel insurance for an amount of at least €30,000 that provides cover for the whole duration of your stay.