Finland Increases Financial Requirement for Schengen Visas

Effective January 1, 2024, Finland has increased the daily financial requirement for short-stay visitors to EUR 50 per day of stay (previously EUR 30). This financial requirement applies to visits of no more than 90 days. The financial requirement is raised as it has been lagging behind the cost of living.

Also effective January 1, 2024, Finland has introduced a proof of sponsorship and/or accommodation form, which allows visa applicants to finance their visit using the funds of the inviting party. This applies Article 14.4 of the EU’s Visa Code.

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.

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