Finland’s New Financial Increased Requirements for Schengen Visas: What You Need to Know

Finland's New Financial Increased Requirements for Schengen Visas: What You Need to Know

Since January 1, 2024, Finland has ushered in a significant policy change affecting Schengen visa applicants. This modification, reflecting the rising cost of living and aimed at aligning with contemporary economic realities, has raised the eyebrows of many travelers and stakeholders in the travel industry.

Increased Financial Requirement

Previously, travelers applying for a Schengen visa to visit Finland were required to prove financial means of €30 per day for their stay. However, with the new policy in place, this requirement has surged by 66%, setting the new daily financial threshold at €50.

This increment positions Finland among the higher bracket of European countries in terms of financial requirements for short-term visitors. For context, neighboring countries like Sweden and Estonia have lower daily requirements, at approximately €45 and €35 respectively.

The Rationale Behind the Change

The Finnish authorities justify this increase as a necessary adjustment to keep pace with the rising living expenses within the country. It’s a move reflective of broader trends in Europe, where several countries are revising visa policies in response to economic fluctuations.

Similar adjustments have been seen in other countries; for instance, Belgium now requires €95 per day for visitors staying in hotels.

Introducing Proof of Sponsorship

In tandem with the financial requirement hike, Finland has also introduced a new mandate for a proof of sponsorship and accommodation form. This form, to be filled out by a Finnish resident or citizen inviting the applicant, is a significant addition to the visa application process.

It aims to ensure that sponsored visitors have their expenses adequately covered by their hosts, thereby reducing the financial burden on public resources.

Why the Increase?

The Finnish government made this decision to align with the increasing living expenses within the country. It’s a common trend in Europe, where countries are adjusting visa policies in response to economic conditions.

Proof of Sponsorship Requirement

Along with the increased financial requirement, Finland now requires a proof of sponsorship and accommodation form. This form must be completed by a Finnish resident or citizen who is inviting the visa applicant.

What This Means for Travelers

These changes mean that travelers to Finland will need to show they have more funds available for their stay. The new rules also require additional documentation for those being sponsored.

Key Considerations for Your Travel Plans

Travelers planning to visit Finland should prepare for these changes by ensuring they meet the new financial requirements and have the necessary documentation if being sponsored.

For more detailed information on these changes and how they might affect your travel plans, get in touch with our consultants to proceed with the Schengen visa application.

Finland’s New Financial Increased Requirements for Schengen Visas: What You Need to Know