Schengen Visa Application and the Requirement for Financial Means

financial
31 July 2023

Which documents should be submitted when lodging a uniform Schengen visa application regarding the required financial means?

One of the requirements to be met when applying for a Schengen visa is “that the applicant possesses sufficient means of subsistence both for the duration of the intended stay and for the return to his/her country of origin or residence, or for the transit to a third country into which he/she is certain to be admitted, or that he is in a position to acquire such means lawfully, in accordance with Article 6 (1)(c) and (3) of the Schengen Borders Code

That said, applicants:

  • must submit proof that they have sufficient means of subsistence both for the duration of the intended stay and for the return to their country of origin or residence, or for the transit to a third country where they are sure to be admitted, or that they are in a position to acquire such means lawfully;
  • are also required to prove accommodation or proof of sufficient means to cover accommodation costs during the stay.

It should also be taken into consideration if the accommodation is provided free of charge or/and the cost of the stay is covered entirely or partly by a trusty sponsor.

A list of required documents may be:

  • recent bank account statements showing at least the last three months’ movements
  • credit card(s) and a credit card account statement
  • traveller’s cheques
  • salary slips
  • certificate of employment
  • proof of sponsorship or private accommodation or prepaid hotel reservation.

Because in some countries applicants may obtain a loan in cash just for lodging the visa application and proving to the consulate the means of subsistence, and the cash is returned when the visa application has been submitted, cash is not, in principle, accepted as evidence of financial means.



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Author:

Giuditta Petreni

Giuditta Petreni has over 15 years of experience in Italian immigration law, supporting companies, investors, and individuals in relocating to Italy. She provides strategic and practical guidance across a wide range of immigration matters.

gp@mazzeschi.it
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