How to Navigate the Schengen Visa Proof of Funds Requirement

When applying for a Schengen visa, whether for a short or long stay, one of the required steps is proving that you have sufficient financial means to support yourself during your trip. 

This article will provide you with everything you need to know about Schengen visa proof of funds and how to prepare your proof of funds documentation for your Schengen visa appointment.

Let’s explore what exactly is meant by “proof of financial means” and how you can ensure you’re prepared to meet the Schengen visa financial requirements for your visa application.

What is “proof of financial means” in the Schengen visa application?

“Proof of financial means” refers to documentation that proves you have enough money to cover your expenses during your stay in the Schengen area – whether it’s for 6 days or 6 weeks.

These expenses include everything from accommodation, food, and transportation, to other travel-related costs. Whether you're applying for a short-stay tourist visa, a long-stay visa for France, or any other Schengen country, proof of subsistence is a mandatory part of your visa application and one of the documents that will be required at your visa appointment. 

Now, it’s important to note that different Schengen countries have varying financial requirements based on the length of stay, but the goal is the same: to demonstrate that you can fund your trip without relying on local resources.

How much subsistence is required when applying for a Schengen visa?

The amount of money you need varies depending on the country you’re visiting and the duration of your stay. Usually, it’s measured in the amount required per day. 

Generally speaking, Schengen countries require you to prove that you have enough to cover your entire stay. They often give you a daily target or an overall amount you need to have for the length of the visa you’re applying for. 

Countries may also have minimums that vary depending on your accommodations. For example, there may be a €65 per day minimum when staying in a hotel, but a €35 per day minimum when staying with a family member – both in the same country. (This is just an example.)

If you are given a per-day requirement that needs to be proven, the total minimum amount is calculated by multiplying the daily amount by the total number of days you plan to stay in the Schengen area. This sum should be reflected in your bank account or other financial documentation you provide.

As an example only, if the required amount is €50 per day and you’re staying for 45 days, you’ll need to show a minimum of €2250 in your checking or savings accounts. 50 x 45 = 2250.

The daily amount, or total amount, varies from country to country. Always check with the visa application center or consulate where you are applying.

Will I need to move funds over to a foreign bank?

No, you are not required to transfer money to a foreign bank account for your Schengen visa. You can show proof of financial means using accounts from your home country. 

Bank statements from your local bank, as long as they meet the Schengen requirements, are sufficient. The important factor is that the funds must be accessible during your trip.

Do assets count as proof of funds for a Schengen visa?

Assets such as property, stocks, or investment accounts generally do not count as proof of sufficient funds for travel. The reason for this is that usually, those funds aren’t readily available. 

Visa officials are looking for liquid cash – or readily accessible money. This means that you should have the minimum amount required in your savings or checking account. These balances, independently or combined, are the type of proof that visa processors will need to see.

If you try to use assets as proof, you may be asked for additional documents to verify their value and liquidity, which can complicate your application. However, it may be possible in some situations.

What is the minimum bank statement requirement to get a Schengen visa?

Typically, Schengen countries require three to six months of bank statements as part of the proof of funds. 

Your bank statements must reflect your financial situation, showing consistent income or a lump sum of money that meets the required minimum for your stay.

The bank statements should:

• Be recent
• Clearly display your name and account details
• Show sufficient funds for the trip

Sometimes, you may also be asked to submit proof of income, such as pay stubs – especially if you're employed. When beginning the visa application process, the visa center or consulate will provide you with a list of all of the required documentation you need to submit.

Do I have to provide proof of income when applying for a Schengen visa?

Not necessarily. While proof of income is often part of the documentation for a Schengen visa, officials need to see proof of funds. If you are enjoying retirement or are unemployed, you can often supply bank statements to prove that you meet the necessary financial requirements.

While the exact requirements vary from country to country, many Schengen countries request salary pay stubs or bank statements.

If you’re retired, on sabbatical, or currently not working, as long as you have an ample amount of money in your bank account (checking or savings), this should also be sufficient for your visa application. Just keep in mind that these funds do need to be readily available to you. 

How do I show proof of funds for my Schengen visa application?

There are several ways to demonstrate that you have sufficient funds for your Schengen visa application. Your visa application center or consulate/embassy will give you a list of the required documentation for your visa application submission. This may include:

• Bank statements: The most common way to show proof of funds is by providing recent bank statements, typically from the last 3 to 6 months. The balance in your account should meet the minimum required for your stay.
• Sponsorship: If someone else is covering your expenses, such as a parent or friend, they’ll need to provide a formal sponsorship letter and their financial documents, including bank statements and proof of income. Refer to the requirements given to you by your visa processor/consulate.
• Pay stubs: Showing a steady flow of income can help your case and strengthen your application. These pay stubs should be recent and you should show proof for the last 3 months or more. 

What happens if I cannot provide proof of funds for my visa application?

Unfortunately, if you’re unable to show proof of funds, your visa application will most likely be denied. 

Believe it or not, this is one of the primary reasons Schengen visa applications are rejected. It’s essential to ensure that all your financial documentation is in order before submitting your application to avoid delays or denials.

Are there any exceptions to this requirement?

There are a few exceptions where proof of financial means may not be required. For instance, certain visa types, such as some long-term work visas or family reunification visas, might have different or more flexible financial requirements, but it isn’t guaranteed.

Additionally, travelers who are part of official delegations or sponsored by the government may not need to provide proof of funds, as well as those who are traveling due to specific work missions.

It’s essential to check the specific requirements of the Schengen country you are applying to, as they can differ based on visa type and applicant status. Also, refer to the list of required documents you received from your visa processor.

Are there any types of Schengen visas that don’t require proof of funds?

Most Schengen visas require proof of funds, including short-stay tourist visas, business visas, and long-stay visas. 

However, specific diplomatic or humanitarian visas may not require it, as well as some types of professional visas for work (such as some talent visas). Always confirm with the visa processor or consulate handling your application. 

In the majority of cases, documentation showing proof of funds is required for your Schengen visa application. 

Key Points: Proof of Funds

• Proof of financial means is mandatory for the vast majority of Schengen visa applications.
• Three to six months of bank statements are typically required but always check with the consulate or embassy.
• You can use your home country’s bank account; no need to move funds abroad.
• Liquid funds like savings or checking accounts are preferred over assets.
• If you cannot show proof of sufficient funds, your visa application will likely be denied.
• Some exceptions exist, but these are uncommon and specific to certain visa types.