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Minimum Bank Balance Required for Schengen Visa

If you plan to travel to Europe, a Schengen visa is essential for entry to most countries. However, obtaining a Schengen visa can be a rigorous process that involves providing a lot of personal and financial information.

One crucial aspect of the application process is demonstrating that you have sufficient funds to support your stay in the Schengen area. This is where the minimum bank balance comes in – it is the minimum amount of money that you need to have in your bank account to prove that you have the financial means to support yourself during your stay.

In addition, it also shows the embassy or consulate that you have enough financial resources to return to your home country after your visit. So, ensure you have enough funds in your bank account to cover the required minimum bank balance for a Schengen visa, and you are on your way to a smooth visa application process!

How Can I Prove My Financial Sufficiency for a Schengen Visa Application?

You can prove your financial sufficiency for a Schengen visa application through the following documents :

  • Bank statements.
  • Proof of employment or income, such as a letter from your employer or pay slips.
  • Tax returns.
  • Proof of property ownership, such as a title or deed.
  • Proof of sponsorship or support from a third party.
  • Travel insurance policy.
  • Credit card statements.
  • Investment statements.
  • Pension statements.
  • Proof of pre-booked accommodation.
  • Proof of paid return tickets.
  • Any other relevant financial documents that show your ability to support yourself during your stay in the Schengen Area.

Factors Influencing the Minimum Bank Balance Requirement

Several factors can affect the minimum bank balance requirement. Those factors include the following:

  • The destination country. The minimum bank balance can differ from country to country, as the cost of living and travel expenses can vary. You can see in the next section the differences between countries.
  • Duration of the trip. The longer the trip, the higher the minimum bank balance requirement will likely be, as the applicant will need to demonstrate that they can support themselves financially for a more extended period.
  • Personal circumstances. The embassy or consulate may consider the applicant’s circumstances when assessing the minimum bank balance requirement. For example, if the applicant travels with their family, the minimum bank balance requirement may be higher than traveling alone. The embassy may also consider the applicant’s employment status, income, and overall financial situation.
  • Visa type. The type of visa can also affect the minimum bank balance requirement. For example, if the applicant is applying for a long-stay or work visa, the minimum bank balance requirement may be higher than that of a short-stay tourist visa.

Austria

Austria does not require a specific amount of means of subsistence. When applying for entry into Austria, decisions regarding the minimum financial requirements are made on a case-by-case basis, considering the purpose, type, and duration of your stay.

Nevertheless, having a budget of at least €100 per day is generally advisable, as this is the average amount tourists spend during their stay.

Belgium

When going to Belgium with a Schengen visa, to enter and stay in the country, you must have at least €45 if you are staying with your family or friends and €95 if you are staying in a hotel.

If you have more means of subsistence than is required, you will need proof that the purpose of the trip justifies it.

Croatia

The Ministry of Foreign Affairs of the Republic of Croatia has established minimum financial requirements for foreign nationals planning to stay there. The amount required is €70 per day unless you have a certified letter of guarantee, proof of a tourist booking, or a similar document, in which case you must show the equivalent of €30 per day of your estimated stay.

However, if you apply for a visa at a consular office of the Republic of Croatia or some other country where Croatia concluded a contract on representation in issuing visas, you must have €100 per day. If you possess a certified guarantee letter or proof of paid travel arrangements, the requirement is €50 per day.

Czech Republic

The required financial means for Czech short-term visa applicants is 2,980 CZK or €127.40 (as of July 2022). The current amount varies according to the duration of the intended short-term stay in the country of the Czech Republic:

  • Stays not exceeding 30 days 一 1,490 CZK or €63.70.
  • Stays exceeding 30 days 一 44,700 CZK or €1,910.95. The amount will be doubled for each month of your intended stay in the country, meaning an additional 5,960 CZK or €254.79 for each month.

Nevertheless, if you are under 18 years of age, you will have to prove only 50% of the mentioned amount.

In addition, if you are a third-country national studying in the Czech Republic, you can show that you have enough money to support yourself during your stay by providing a commitment from a state authority or a legal entity to cover your stay or a document from your school confirming that all costs related to your studies and stay will be covered.

If the amount in the commitment is less than the required minimum (currently 2,980 CZK/€127.40 per month), you must provide proof of the difference up to a maximum of 6 times the subsistence minimum (currently 17,880 CZK/€763.20). You can also provide a grant acquired through an international treaty as proof of means for your residence.

Denmark

According to the Visa Code of Denmark, visa applicants must demonstrate that they have sufficient financial means during their stay in Denmark. For example, if the applicant plans to stay in a hotel, the required minimum bank balance is approximately 500 DKK or €67.17 per day, while if staying in a hostel or similar accommodation, the required amount of financial means is 350 DKK or €47.02 per day.

However, if the applicant pays for their accommodation in advance or a third party covers their accommodation expenses, the minimum bank balance required by the Danish Embassy or Consulate can be lower.

Estonia

As per the Ministry of Foreign Affairs of the Republic of Estonia, when applying for an Estonian Visa, you must demonstrate that you have financial means equivalent to €130.80 per day for the duration of your stay in Estonia.

Finland

To enter Finland, you must demonstrate that you have at least €30 per day for the duration of your stay.

France

The minimum amount of financial means required for a foreign national’s stay or transit through France to a third country is calculated based on the guaranteed minimum wage in France (SMIC), which is regularly reassessed based on the French cost of living index. As of January 1, 2012, the daily amount of the SMIC is €65.

  • For individuals with proof of accommodation, the minimum amount required is equivalent to half the SMIC, or €32.50 per day.
  • If no hotel reservation is presented as proof of accommodation, the minimum amount required is €120 per day as of June 19, 2014.
  • If a hotel reservation covers only part of the stay, the required amount is €65 per day for the period covered by the reservation and €120 per day for the remainder of the stay.

Germany

To apply for a German visa, a foreign applicant must demonstrate to the German Embassy or Consulate that they have financial means of at least €45 per day for the duration of their stay in Germany, according to information from the European Commission.

Greece

If you are applying for a Schengen visa to travel to Greece, you must show proof that you have at least €50 per day in your bank account. For stays of up to five days, the required amount goes up to €300 per day. Please note that these amounts are reduced by 50% for minors.

Hungary

Regarding the financial means of Hungary, you need to have a minimum of 10.000 HUF or €26.95 per day in financial means. However, keep in mind that this amount is only a reference, and if you can demonstrate that you have more funds available to cover your expenses during your stay in Hungary, it can increase your chances of obtaining a visa.

Iceland

According to Icelandic Law, individuals applying for an Iceland Schengen visa must demonstrate possession of at least ISK 8,000 or €53.36 per day. In the case of sponsorship by another party, this amount is reduced by 50% to ISK 4,000 or €26.68 per day. Generally, the total minimum required amount for the length of your stay is ISK 40,000 or €266.80.

Italy

The Italian Ministry of Foreign Affairs and International Cooperation has established minimum amounts of means of subsistence that foreign applicants need to demonstrate when applying for an Italian visa. The minimum amount in the table is valid for various types of visas, including business visas, medical treatment, sports competitions, invitations, religious reasons, elective residence, study, transport, tourism, and working holidays.

Duration of StayNumber of participants in the trip
One personTwo or more people
1 to 5 days (overall fixed amount)€269.60€212.81
6 to 10 days (daily amount per person)€44.93€26.33
11 to 20 days (fixed amount)+Daily amount per person€51.64€25.82
€36.67€22.21
Over 20 days (fixed amount)+Daily amount per person€206.58€118.79
€27.89€17.04

Latvia

To enter and stay in Latvia, an individual must provide evidence of having sufficient financial resources as required by the Immigration Law. The required amount is at least €14 per day of stay.

Liechtenstein

To enter Liechtenstein, you must be able to prove that you have at least CHF 100 or €102.48 per day in your bank account if you will be paying for your expenses during your visit. Whereas, if you are a student, you must have at least CHF 30 or €30.72 per day.

Lithuania

To enter Lithuania, you need to show that you have at least €40 per day during your stay in the country and have the financial means to return to your home country, such as purchasing a return ticket. These requirements are set by the Minister of the Interior and the Minister of Foreign Affairs.

Luxembourg

Third-country nationals must demonstrate that they possess approximately €67 per day of the intended stay as evidence of adequate personal resources for the duration of their visit and for their return to their home country or transit to another country.

Malta

If you are planning to visit Malta with a Schengen visa, you must demonstrate that you possess financial resources equivalent to at least €48 per day for the duration of your stay.

Netherlands

The Dutch border control officials take €55 per person per day as the current basis for checking means of subsistence. However, the required amount of means of subsistence varies based on the planned duration of the stay, the purpose of the visit, and the personal circumstances of the person concerned.

Norway

You are required to provide proof of a bank balance of at least 500 NOK or €43.33 per day for the duration of your stay in Norway when applying for a visa. Failure to meet the financial requirements set by the Norwegian authorities may result in your entry into the country being denied.

Poland

A foreigner entering the territory of the Republic of Poland must possess means of subsistence amounting to at least:

  • PLN 300 or €66.38, if the duration of their planned stay does not exceed 4 days
  • PLN 75 or €16.59 for each day of the planned stay if the duration of their planned stay exceeds 4 days.

Additionally, foreigners who fall under the following categories must possess an amount of at least PLN 20 or €4.43 for each day of the planned stay and no less than PLN 100 or €22.13:

  • Participants in a tourist event, a youth camp, or a sports event.
  • Those whose cost of the stay in the Republic of Poland has been paid.
  • Visitors to a treatment and sanatorium facility.
  • Participants in the program enabling holiday work on the territory of the Republic of Poland, which is not the main purpose of their stay, governed by an international agreement to which the Republic of Poland is a party.

Portugal

If you plan to enter or stay in Portugal, you must possess the following amounts:

  • €75 for each entry.
  • €40 for each day spent on the territory.

However, if you can provide proof that your board and lodging are guaranteed for the duration of your stay, you may be exempted from paying the above amounts.

Slovakia

According to the Slovak Ministry of the Interior, third-country nationals must possess a minimum amount of financial resources to cover their stay in Slovakia. This amount is €56 per person per day and is broken down as follows:

  • €30 for accommodation
  • €4 for breakfast
  • €7.50 for lunch
  • €7.50 for dinner
  • €7 for spending money

Slovenia

To obtain a Schengen visa for Slovenia, it is required to provide evidence of having a minimum of €70 per day for personal expenses during the visit. However, in the case of minors accompanied by their parents or legal representatives, the amount is reduced to €35 per day.

Spain

The required amount of financial means you need to present to a Spanish embassy or consulate for your Spain visa is regulated by the Ministry of the Presidency of Spain (PRE/1282/2007) and is set at a minimum of €100 per day, with a minimum of €900 per person regardless of the intended duration of the stay.

Sweden

In order to obtain a Sweden visa, you must demonstrate that you have the necessary means to support yourself during your stay in the country. The Swedish Immigration Authorities require that you have at least SEK 450 or €40.12 available per day.

Switzerland

To apply for a Schengen visa to Switzerland, you must demonstrate that you possess financial means equivalent to a minimum of CHF 100 or €102.48 per day for the intended duration of your visit, assuming you are covering the costs of your travel. For students visiting Switzerland, the required minimum amount is reduced to CHF 30 or €30.72 per day as long as they can provide proof of their student status.

Intelliness

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