Finland increases financial requirement for Schengen visa applicants
As of January 1, those planning to travel to Finland and requiring a Schengen visa, will now need to provide details of more funds to qualify. As per the latest reports, the Ministry for Foreign Affairs in
Finland has implemented new regulations that will affect short-stay travellers seeking Schengen visas.
This notable change involves increased financial requirements, wherein travellers will now be obligated to show a minimum of 50 euros for each day spent in Finland. This represents a significant uptick of 20 euros from the previous amount, which involves a substantial 66% increase. If reports are to go by, the adjustment has been attributed to the rising living costs in the country.
A Schengen visa holds significance as it functions as an entry permit for individuals intending short-term or temporary visits, facilitating travel within the Schengen area. This region encompasses numerous European countries, including 23 out of the 27 EU member nations, along with the associated neighbours, such as Norway, Switzerland, Iceland, and Liechtenstein.
In line with the augmented financial prerequisite, Finland has also introduced a novel proof of sponsorship or accommodation scheme. Hosts will be mandated to complete a sponsorship form, which must be included with the rest of the visa application. This measure has been designed to enhance the transparency and accountability of financial arrangements for those seeking short-term stays in Finland.
It is noteworthy that the Schengen area is set to expand from March, granting visa holders the ability to visit two additional countries during their trip to Europe – Bulgaria and Romania. This development broadens the scope of travel possibilities for those holding Schengen visas.
Furthermore, it’s also important to note that the Schengen visa fees, particularly for Indian nationals, is set at 80 EUR. However, do note that there is a complete waiver of the Schengen visa fee for children under the age of six. For children aged between six and 12 years, a reduced visa fee of 40 EUR applies, making provisions for families travelling with younger members. These fee structures contribute to the overall framework governing the issuance of Schengen visas for various age groups.
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