What is Proof of financial Sufficiency for a visa application?

Traveling to the Schengen region means you need to provide information that you have enough resources to enjoy your trip to the region. Proof of financial sufficiency is the most important  Schengen visa requirement and should be fulfilled before applying for Schengen visa. The means of subsistence for a Schengen Visa is simply the financial proof that you need to present at the embassy or consulate when you submit your visa application.

It is the way for the officials to know that you have enough money to cover your travel expenses, dining and food, accommodation, and other important stuff that you need while traveling to a completely new destination. It is also a way to get sure that you are going to come back to your country and not going to slip in the Schengen region.

The inability to show the means of subsistence eventually lead to the rejection of a Schengen visa application. Every document that you present should be up to date.

 

Documents Needed by the Embassy to prove Financial Stability:

  • Your bank account statement that contains information of the last 3 months; it should not be more than three months old
  • Many times online bank statements are not acceptable and you need to get the original statement from the bank along with their official seal
  • Information of cash that is convertible
  • Traveler’s check
  • Credit card information
  • Payslip if you are an employee of a company or any other document providing the information about your salary
  • Proof of prepaid traveling expenses and accommodation like flight itinerary,
  • hotel bookings, etc
  • Income tax return certificate for the last two years
  • If your trip is being sponsored then you need to provide a sponsorship letter mentioning that all your expenses will be covered; the letter must contain the bank statements of the sponsors that are of last 3 months at least
  • Pension information if you are a pension holder
  • Business documents if you own your business

How To Know How Much Is Enough For Financial Proof Of Sufficiency:

The daily amount that you need to spend in the Schengen region varies from country to country. Most of the countries have provided the reference or exact amount that is necessary for the applicant to have when applying for the Schengen visa. The means of subsistence could be calculated by using a simple formula:

Means of subsistence = cost per day x numbers of visiting day in the Schengen region

Here are the countries with their reference amount required as the means of subsistence:

Country NameReference Financial Amount
AustriaOfficials take the final decision – no reference amount provided
Belgium €95/day when staying at the hotel and €45/day when staying at someone’s home
Bulgaria€50/day – at least €500 per stay
Croatia €100/day – but €50 for the visitors who have a certified guarantee letter or prepaid traveling information
CyprusOfficials decide on the case basis
Czech Republic€40/day up to 30 days
Germany€45/day as a form of cash, cheques or credit cards
DenmarkDKK 350/day
Estonia €78/day – letter of invitation is also acceptable
Finland€30/day
France€120/day without any accommodation proof; €65/day when staying at the hotel; €32.50/day with prior hotel reservations
Greece€50/day or €300/ 5days with 50% lower fees for minors
HungaryHUF1000/entry or letter of invitation also accommodation confirmation
IcelandISK 4,000/day along with ISK 20,000/ entry
Italy

€269.60 fix for 5 days approx

€44.93 for 6-10days

€51.64 fix with €36.67/day for 11-20 days

€206.58 fix with €27.89/day for 20 plus days

Latvia€14/day or certified invitation letter
Lichtenstein CHF30 for students and CHF 100/day
Lithuania€40/day
LuxembourgOfficials decide it per case
Malta€48/day
Netherlands€34/day
NorwayNOK500/day
Poland

PLN300 when the stay is less than three days

PLN100/day when the stay is more than three days

PLN20 when the hotel accommodation is prepaid

Portugal€75/entry and €40/day
Romania€50/day and at least €500/stay
Slovakia€56/day or a certified invitation letter
Slovenia€70 and a half for minors
Spain€583.74 for up to 10 days or €64.84/day when the stay is more than 10 days
SwedenSEK 450 per day
SwitzerlandCHF100/day or CHF30 for students

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