Finland Raises Financial Requirements for Schengen Visas and Introduces New Sponsorship Proof

As of January 1, 2024, Finland has implemented new regulations requiring travelers to have 66% more financial resources to support their stay in the country, according to an announcement from the Finnish Ministry of Foreign Affairs. The financial requirement for Schengen visas has been increased to €50 per day, up from the previous €30. Alongside this adjustment, a new prerequisite has been introduced, mandating applicants to complete a proof of sponsorship form.

The Ministry of Foreign Affairs stated, "As of January 1, 2024, travelers arriving in Finland for short stays are required to have available funds of at least €50, instead of the former €30, for each day they spend in Finland." The rationale behind this decision is attributed to the rising living costs in Finland and globally. It's important to note that this financial requirement specifically applies to individuals visiting for periods shorter than 90 days.

This financial prerequisite, often termed as means of subsistence for a Schengen visa application, varies across European Union member states. While Finland now requires €50 per day, Belgium, for instance, demands a minimum daily amount of €45, escalating to €95 per day for those staying in accommodations such as hotels.

Increasing the minimum means of subsistence is a legal and customary practice among Schengen member states. This requirement pertains not only to Schengen visa applicants but also to those visiting under a visa-free arrangement. Post-Brexit, this requirement posed challenges for many Britons, particularly those traveling to Spain.

In conjunction with the heightened financial requirements, Finnish Schengen visa applicants must now furnish a proof of sponsorship and/or accommodation form completed by the inviting party. The Ministry of Foreign Affairs clarified, "Finland will simultaneously introduce a proof of sponsorship and/or accommodation form, which will allow visa applicants to finance their visit using the funds of the inviting party." This requirement is applicable only to individuals who have been invited to Finland and will have their expenses covered by a Finnish citizen or a person residing in Finland with a valid residence permit.

Visa applicants must attach the completed proof of sponsorship and/or accommodation form to their visa application, along with other requisite documents. These adjustments reflect Finland's response to evolving economic conditions and are designed to ensure that visitors have adequate financial means to support their stay in the country.

By fLEXI tEAM