Finland has announced a hike in the minimum daily financial requirement for a Schengen visa, elevating it from €30 (RM 152) to €50 (RM 254). This change, effective from January 1, 2024, is part of new regulations introduced by the Ministry of Foreign Affairs in Finland, specifically impacting short-stay travellers.
Among the explanations for the increase is that it will enhance immigration procedures, curb visa overstays, and prevent situations where tourists face financial constraints. It is also justified as a response to the recent rise in the cost of living in Finland.
In addition to the increased financial requirement, Finland now mandates Schengen visa applicants to provide evidence of sponsorship or accommodation throughout their stay. This means that applicants can demonstrate financial coverage with support from a Finnish citizen or resident. The proof of sponsorship form allows the citizen or resident to vouch for the financial support they are extending to the visa applicant, ensuring accountability and transparency in the financial arrangements.
Thank you for sharing this update on the increase in the minimum daily financial requirement for a Schengen visa in Finland. It’s important to stay informed about changes in visa regulations, especially for those planning to visit Finland or other Schengen countries.