Finland to Increase Financial Requirement for Schengen Visa Applicants
Starting January 1, 2024, travellers visiting Finland will need to have 66 per cent more funds with them to support their stay in the country. The decision, made by the Finnish authorities, raises the daily financial requirement for Schengen visa applicants to €50 per day, up from the previous €30. This increase is in response to the rising living costs in Finland and worldwide.
The higher financial requirement will only apply to those visiting for periods shorter than 90 days at a time. This move follows a common practice among EU member states to adjust the means of subsistence for Schengen visa applications. For example, Belgium requires a minimum daily amount of €45, which increases to a minimum of €95 per day for those staying at a hotel or similar accommodation.
The new requirement comes alongside the introduction of a proof of sponsorship and/or accommodation form for Finnish Schengen visa applicants. This form, which must be filled in by the inviting party, will allow visa applicants to finance their visit using the funds of the inviting party. It is important to note that the requirement will only apply to those who have been invited to travel to Finland and whose expenses will be covered by the inviting person, such as a Finnish citizen or a person residing in Finland with a residence permit.
This change in the visa application process aims to ensure that visitors have sufficient financial support during their stay in Finland. With these new requirements in place, travellers are advised to prepare and submit all necessary documents for their Schengen visa application to ensure a smooth and successful process.
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