Means Of Subsistence: Meaning And Sufficient Financial Requirements For Each Schengen Country

Have you ever dreamt of packing your bags and going backpacking through the Swiss Alps? Believe me, I have. But before you start planning your trip, you must be aware of some travel documents but specifically the means of subsistence.

If you travel to any of the Schengen countries, you must apply for a Schengen Visa. The Schengen Visa requires you to submit travel documents during your Schengen visa application. Although most of the required documents are the same for each Schengen member state, the means of subsistence are unique to each country.

In this post, we'll cover the meaning of the term "means of subsistence" and what documents you can present to prove financial sufficiency. Later in this post, I will also cover the financial requirements for each Schengen country.

Let's get to it:

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As I mentioned, if you plan to travel to any country in the Schengen Area, you must apply for a Schengen Visa. During your application process, the Embassy or Consulate of the Schengen country you plan to visit will require you to submit a list of required documents.

One of the main requirements is the means of subsistence proof. This document proves you have the financial means to travel and stay in a Schengen country. The means of subsistence are calculated through your main destination living standards. Don't worry just yet, because I will explain each country's financial requirements later in this post.

According to the European Parliament and The Council, the Regulation (Ec) No 810/2009 establishes a Community Code on Visas known as the "Visa Code." The Visa Code stipulates the following:

Article 14 (c):

"Documents indicating that the applicant possesses sufficient means of subsistence both for the duration of the intended stay and for the return to his country of origin or residence, or for the airport transit to a third country into which he is certain to be admitted, or that he is in a position to acquire such means lawfully, in accordance with Article 5(1)(c) and (3) of the Schengen Borders Code." - European Parliament and The Council of the European Union

Article 21 (5):

"The means of subsistence for the intended stay shall be assessed in accordance with the duration and the purpose of the stay and by reference to average prices in the Member State(s) concerned for board and lodging in budget accommodation, multiplied by the number of days stayed, based on the reference amounts set by the Member States in accordance with Article 34(1)(c) of the Schengen Borders Code. In addition, proof of sponsorship and/or private accommodation may constitute evidence of sufficient means of subsistence." - European Parliament and The Council of the European Union

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Now that you know what the means of subsistence entails, you must know what documents you can present that acts as proof of financial sufficiency. Here is a list of documents that you can present to prove your means of subsistence:

• A personal bank statement indicating your financial movements (for at least 3 last months)
• Credit card
• Cash
• Traveler's cheques
• Payslips
• Proof of employment
• Supporting document to attest sponsor's readiness to cover your expenses during your stay (sponsor must have a legal residence permit)
• Proof of prepaid accommodation
• Document about accommodation in private (letter from a friend or family member)
• Proof of prepaid transport

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Although the "Visa Code" was intended to promote uniformity among Schengen countries, each country is free to implement its own national laws. This means that each Schengen state is free to set its own reference or fixed amount of financial means of sustenance for visa applicants from other Schengen countries.

Financial Requirements For Austria:

The Austrian Federal Ministry for Europe, Integration, and Foreign Affairs does not specify the amount of essential means of subsistence you require to apply for an Austrian Schengen Visa. The amount of financial resources, or means of sustenance, is then implicitly regulated on an individual or case-by-case basis.

Financial Requirements For Belgium:

The Belgian Immigration Office states that anyone applying for a Belgium Schengen Visa must prove a financial subsistence of at least 95 EUR per day if they stay in a hotel. However, if you plan to stay in cheaper accommodation, you can prove that you have at least 45 EUR per day.

Financial Requirements For The Czech Republic:

Suppose you apply for the Czech Republic Schengen Visa. In that case, you must show proof of financial sufficiency of at least 42.50 per day. Furthermore, if you plan a stay longer than 30 calendar days, you must show evidence of at least 1,274 EUR and an extra 170 EUR by the end of each month.

Financial Requirements For Denmark:

According to the Denmark Visa Code, if you apply for the Denmark Schengen Visa, you must prove financial sufficiency of at least 67.24 EUR per day. Remember that this is only applicable if you are staying in a hotel. However, suppose you plan to stay in a hostel or any other cheaper means of accommodation. In that case, you must present proof of financial sufficiency of at least 47.07 EUR per day. Alternatively, if you already paid for your accommodation in advance, or it is paid by a third party. Then, your financial entry requirements will be lower.

Financial Requirements For Estonia:

Suppose you apply for the Estonia Schengen Visa. In that case, you must prove financial means by demonstrating you have at least 100 EUR per day for the period of your stay in Estonia.

Financial Requirements For Finland:

The Ministry of Foreign Affairs in Finland requires you to provide proof that you have at least 30 EUR per day if you apply for the Finland Schengen Visa.

Financial Requirements For France:

According to the European Commission, if you want to enter France by applying for a France Schengen Visa, you must attest to financial sufficiency of at least 120 EUR per day. However, if you can prove that you have already paid for your accommodation in France, you only must have at least 65 EUR per day. Please also remember that if you choose cheaper accommodation like hostels, the minimum daily amount decreases to 32.25 EUR.

Financial Requirements For Germany:

Suppose you want to apply for the German Schengen Visa. In that case, you must provide evidence that you meet the daily requirements of 45 EUR daily.

Financial Requirements For Greece:

All foreign nationals, including citizens of non-Schengen countries, must attest to possessing an amount of 50 EUR per day. In addition, if you plan on staying for more than 5 days, you must prove a minimum of 300 EUR when applying for a Greece Schengen Visa.

Financial Requirements For Hungary:

Suppose you plan on entering Hungary by applying for a Hungary Schengen Visa. In that case, you must pay the minimum requirement of 3.19 EUR for each entry. There is no other quantity of means of subsistence that you must demonstrate to the Hungarian Embassy or Consulate while applying for a visa.

Financial Requirements For Iceland:

Entering Iceland by an Iceland Schengen Visa, you must attest that you have at least 28.83 EUR per day. Additionally, you must pay an entry fee of 144.13 EUR each time you enter the Icelandic territory.

Financial Requirements For Italy:

The financial entry requirement when going to Italy on a Italy Schengen Visa is specified to the number of days you will be spending in Italy. Here is a list of the minimum financial requirements that you must meet:

• For stays of 5 days: an overall amount of 269.60 EUR (212.81 EUR for two or more people)
• For stays of 6-10 days: 44.93 EUR per person (26.33 EUR for two or more people)
• For stays of 11-20 days: 36.67 EUR per person (22.21 EUR for two or more people)
• For stays over 20 days: 27.89 EUR per person (17.04 EUR for two or more people)

Financial Requirements For Latvia:

You must attest that you have at least 14 EUR per day if you go to Latvia by applying for a Lativa Schengen Visa. Let me explain by using an example. If you stay for 10 days, you must have at least 14 EUR per day. In that case, the overall amount is 140 EUR for your stay.

Financial Requirements For Liechtenstein:

You must attest to the Liechtenstein Embassy or Consulate that you have at least 92.34 EUR per day if you enter with a Liechtenstein Schengen Visa. However, if you are a student with a valid student ID, you are only required to prove a financial subsistence of 27.70 EUR per day.

Financial Requirements For Lithuania:

Suppose you want to apply for the Lithuania Schengen Visa. In that case, you must provide evidence that you meet the daily requirements of 40 EUR. This means you must have at least 40 EUR per day during your stay in Lithuania.

Financial Requirements For Luxembourg:

When applying for a Luxembourg Visa at a Luxembourg Embassy or Consulate, Luxembourg does not specify a specific quantity of means of subsistence.

Financial Requirements For Malta:

Suppose you apply for the Malta Schengen Visa. In that case, you must show proof of financial sufficiency of at least 48 EUR per day.

Financial Requirements For Netherlands:

According to the European Commission, if you want to enter the Netherlands by applying for a Netherlands Schengen Visa, you must attest to financial sufficiency of at least 34 EUR per day.

Financial Requirements For Norway:

According to the European Commission, Section 17 (f) of the Norwegian Immigration Act states that if you want to enter Norway through a Norway Schengen Visa, you must have at least 53.34 EUR per day.

Financial Requirements For Poland:

The financial entry requirement when going to Poland on a Poland Schengen Visa is specified to the number of days you will be spending in Poland. Here is a list of the minimum financial requirements that you must meet:

• For stays of 3 days: overall amount of 67.76 EUR
• For stays over 3 days: 22.59 EUR per day
• If your accommodation is paid before traveling or paid by a third party: 4.52 EUR per day

Financial Requirements For Portugal:

Entering Portugal by a Portugal Schengen Visa, you must attest that you have at least 40 EUR per day. Additionally, you must pay an entry fee of 75 EUR each time you enter Portugal. However, if you can provide your food and accommodation is covered, you might be exempt from paying the money mentioned above.

Financial Requirements For Slovakia:

According to the European Commission, if you want to enter Slovakia by applying for a Slovakia Schengen Visa, you must attest to financial sufficiency of at least 56 EUR per day.

Financial Requirements For Slovenia:

Suppose you apply for the Slovenia Schengen Visa. In that case, you must show proof of financial sufficiency of at least 70 EUR per day. Furthermore, if you apply for a minor, proof of financial support for a visitor's visa is reduced to 35 EUR.

Financial Requirements For Spain:

You must show proof of financial support for a visitor visa such as the Spain Schengen Visa. You must show support of at least 100 EUR a day.

Financial Requirements For Sweden:

According to the European Commission, you must prove financial support for a visitor visa of 48.26 EUR per day if you apply for a Sweden Schengen Visa.

Financial Requirements For Switzerland:

You must attest to the Switzerland Embassy or Consulate that you have at least 92.34 EUR per day if you enter with a Switzerland Schengen Visa. However, if you are a student with a valid student ID, you are only required to prove a financial subsistence of 27.70 EUR per day.

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Now that you know the financial requirements, I will explain the generic visa requirements that are the same for all Schengen countries. Remember that border controls can ask you for additional information, so always carry hard copies of your documents. Here is a list of the documents that you must present when applying for your Schengen Visa:

• Visa application form (can be found on the Consulate of the country's website)
• Two passport photos (make sure to check out the photo requirements)
• A valid passport (your passport should be valid for at least 3 months beyond your stay)
• Flight itinerary
• Hotel itinerary
• Travel insurance/Health insurance (must have a minimum of 30,000 EUR that covers the length of your intended stay)
• Financial means of subsistence
• Proof that you paid your visa fee (80 EUR for adults and 45 EUR for minors)

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The Schengen Tourist Visa is considered a short-stay visa. This means you can stay in the Schengen Area for 90 days in a 180-day period. I know it might seem confusing, but that's why we have created the 90/180-day rule guide.

Although some citizens enjoy visa-free travel to the Schengen Area, they must also abide by the 90/180-day rule.

If you are an EU citizen, you also enjoy visa-free travel to any Schengen member state and the EU/EEA.

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If you want to apply for a Schengen Visa, you must head over to the Schengen country's Embassy or Consulate. Luckily, we have detailed guides on Schengen Tourist Visa applications. However, we know visa applications can be terrible, so I suggest you apply through Atlys.

Please check out each guide by selecting the Schengen country of choice:

Austria, Belgium, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Italy, Netherlands, Norway, Poland, Portugal, Spain, and Switzerland.

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Maybe you haven't heard, but the European Union will implement the ETIAS (European Travel Information and Authorization System) at the start of 2023. The ETIA will apply to any citizen who enjoys visa-free travel to the EU.

Therefore, if you are traveling to any Schengen member state before 2023, you don't need to apply for the ETIAS. However, remember that this will change in 2023.

Please feel free to check out our ETIAS guide for more information on how you will need to apply for it in the future.

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Now that you know all the important information about the financial requirements for Schengen Visas, you are ready to plan your dream backpacking getaway. And one last thing, skip the queue and get your Schengen Visa through Atlys in minutes.