Finland rises financial requirement for Schengen visa

Finland on Monday has increased travellers' daily financial requirement for Schengen visa to EUR 50 per day of stay, said the Ministry for Foreign Affairs in a press release on Tuesday.

The government also simultaneously introduced a proof of sponsorship and/or accommodation form, which will allow visa applicants to finance their visit using the funds of the inviting party.

As of 1 January 2024, travellers arriving in Finland for short stays are required to have available funds of at least EUR 50, which was EUR 30, for each day they spend in Finland.

This financial requirement applies to visits of no more than 90 days. Financial requirement is raised as it has been lagging behind as the cost of living has increased.

As of 1 January, Finland also started to apply Article 14.4 of the EU’s Visa Code, which provides for the introduction of a maintenance and accommodation agreement. With the introduction of the proof of sponsorship, the fact that a Finnish citizen or a person residing in Finland with a residence permit undertakes to finance the travel of the visa applicant may be taken into account in the visa consideration.

The inviting party must fill in a proof of sponsorship form to be attached to the visa application.