Home page  >  Financial Guarantees

Financial Guarantees

All applicants who intend to enter Italy or the Shengen Territory must provide proof that they have sufficient funds to cover the expenses of their planned stay (most recent bank statement/s).

If a scholarship covering all the living expenses during his stay in Italy is awarded to an applicant, he should provide also personal financial guarantee for unexpected expenses not covered by the scholarship.

The financial guarantee required to stay in Italy is calculated on the basis of the parameters approved by the Ministry of Internal Affairs of Italy and does not include the costs of travel tickets and accommodation.

As financial Guarantees are provided:
• copy of the Applicant’s valid credit card with name and surname + ATM receipt including account balance (valid for a maximum period of 3 days from the day it was taken from ATM to the day of the document submission)
• applicant’s original Bank account statement (in any currency, should include a letter from the bank confirming the rate of exchange to Euro as on date) + copy of the Applicant’s valid credit card with name and surname. Bank account statement issued more than 30 days before the submission date is not valid.

For visa type D in addiction it is necessary to present personal financial documents or financial documents from the member of the family:
- proof of employment with indicated monthly salary and applicant`s original bank account statement for last 3 months with regular payroll accounting.
- certificate of the birth of a student with Apostille and translation into Italian (original and copy are required)
-sponsorship letter (in Italian language) from the parent (account holder)
- a copy of the parent’s passport (data page and page with registration)

Minimum available financial resources required to cover the cost of suitable accommodation and other expenses in Italy (in Euros)

Duration of a trip For one person For every person of a group (2 or more)
  1-5 days: fixed amount  269,60  212,81
  6-10 days: per person / a day  44,93  26,33
  11-20 days: fixed amount
+ per person / a day
  over 20 days : fixed amount
+ per person / a day

*How to calculate? For 15 day trip: 51,64 (fixed amount) + 36,67 * 15 = 601,69 euro’s.

The following documents cannot be submitted as a financial guarantee: certificate of 2NDFL, certificate of for the currency exchanged, cash money or bank account statement without authorized stamp and signature. An exception for the above are if the bank account statement presented is from Tinkoff bank, Alfa-Bank, Sberbank, VTB and electronic bank account statement from the branches of the banks which are not present in Russia.