Proof of financial resources needed for your stay in Germany | Visa application

Proof of financial resources (Finanzierungsnachweis) is one of the essential documents for applying for a student visa and a residence permit for studies in Germany. The other required documents are also listed in other EDUBAO articles. Don't forget to check them out: A Complete Guide to Apply for a German Student Visa and The Requirements, Documents, and Tips for Your German Student Visa Application.

Discover below five ways to obtain proof of financial resources for your visa application.

Are All International Students Required to Submit Financial Proof?

International students from non-EU or non-EEA countries must provide proof of financial resources to demonstrate that they can cover the costs of studying in Germany. You can check whether you need proof of financial resources by following the detailed information below:

• If you are a citizen of an EU member country (including Norway, Switzerland, Iceland, and Liechtenstein), you do NOT need to provide financial proof.

• If you are a citizen of a non-EU country and need a visa to come to Germany, you MUST provide proof of financial resources to apply for a student visa.

• If you are from one of these countries: Australia, Honduras, Israel, Japan, Canada, New Zealand, South Korea, or the United States, you MUST provide proof of financial resources to apply for a residence permit.

Since January 1, 2022, the proof of financial resources for studying in Germany is 11,208 EUR/year (934 EUR/month).

Five Ways to Prove Financial Resources for a German Student Visa Application

The steps to obtain proof of financial resources and the required documentation may differ depending on the student's country of origin and their situation at the time of visa application. However, here are five ways to prove your financial situation in Germany:

• Open a blocked account (Sperrkonto) in a German bank and deposit a security deposit.
• Submit documents from your parents or guardians as proof of their annual income and financial assets.
• If you've received a scholarship from a recognized German organization, you can present the scholarship award document.
• Prove that a person with permanent resident status in Germany can finance your studies and living expenses.
• Present a bank guarantee.

Opening a Blocked Account (Sperrkonto) in Germany

Definition of a Blocked Account

Although there are many other ways to demonstrate your financial situation, the majority of international students choose a blocked account (Sperrkonto) as a means of proving that they can pay all living expenses during their stay in Germany. As a personal account, the blocked account allows the holder to withdraw a certain amount of money each month.

A blocked account cannot, under any circumstances, be closed without the approval of its beneficiary. It is possible that the account may be closed at the request of the foreign mission or the competent foreign authority after you have arrived in Germany.

Therefore, a blocking notice does not allow money to be withdrawn from the blocked account. Its sole purpose is to ensure that there are always sufficient funds to pay for living expenses.

Minimum Deposit on a Blocked Account

Since January 1, 2022, the financial proof for studying in Germany is 11,208 EUR/year (934 EUR/month).
Hoping to increase their chances of obtaining the visa, many students allocate more than the minimum amount to their account. International students can choose to open a blocked account at one of the following banks:

Digital Solution: EDUBAO

Are you a fan of digitalization? Probably yes, especially if you're part of Generation Z, who grew up with technology, smartphones, and apps, etc. Compared to the traditional solution, which involves going to a bank in person or sending documents to a German bank to open a blocked account, EDUBAO allows you to reduce complexity and save a lot of time! Thanks to this, students will always receive their blocked account confirmation in time to present it at their visa interview appointment.

To open a blocked account with EDUBAO, you just need to follow these three steps:

1. Apply for your blocked account in just a few minutes, once you've received the (conditional) admission confirmation for your studies in Germany.
2. Transfer the required amount to your blocked account.
3. You'll automatically receive the official document "Confirmation of Blocked Amount" to present at the German embassy.

Moreover, after successfully settling in Germany, unlocking, withdrawing money, and all management processes can be done easily through our EDUBAO app.

So? Are you thinking about opening a blocked account with us? Great! Head over to our webpage Blocked Account (Sperrkonto) for German Visa Application to learn more and/or sign up. If you have any questions, don't hesitate to contact us via social media, email, or through our contact form!

Traditional Solution: Deutsche Bank

The application forms for opening an account at Deutsche Bank are available in German and English. Your completed forms must be certified by the embassy or consulate, which will forward them to the bank in Germany. Other required documents include your valid passport, proof of the origin of funds, a copy of the admission letter, and a pre-stamped envelope. All these documents must be sent to the following address:

Deutsche Bank Privat- und Firmenkundenbank AG Alter Wall 53 20457 Hamburg, Germany

Opening a blocked account at Deutsche Bank will cost approximately 150 EUR. This amount covers account opening fees and additional fees if necessary, while also serving as proof for the German embassy abroad and the immigration office at your location in Germany.

For more information about the "blocked account" (Sperrkonto), check out another EDUBAO article.

Parent Income Documents

If your parents or guardian earn enough money to support you during your studies in Germany, you can show the German government that you have adequate financial support by presenting their income proof documents.

Generally, when applying for a German student visa, you will need to provide bank statements of your parents' salaries for at least three months from the date of your application. Additionally, to ensure that your parents' income comes from legal sources, the German embassy may ask to see copies of their employment contracts.

Another option is to present a Verpflichtungserklärung (declaration of commitment) from a person with sufficient income to support you financially, deposit a security deposit into a blocked account, or make annual deposits as a guarantee in a German bank.

Scholarship Award Documents

It is also acceptable to present proof of a scholarship from public funds or a recognized organization in Germany. The German embassy will only accept the scholarship as proof of financial support if you can present documents showing that you received the scholarship from a recognized organization. The amount and duration of financial support must be specified on the documents.

If the scholarship is your means of authenticating your financial resources, we suggest checking with the German embassy to prepare the necessary documents to include in your visa application.

Here are some scholarship providers for your reference: The German Academic Exchange Service (DAAD), the German Research Foundation, the Protestant Church Social Service Agency, the Friedrich Ebert Foundation, the Friedrich Naumann Foundation, the Hanns Seidel Foundation, the Heinrich Boll Foundation, the Catholic Academic Exchange Service, the Konrad Adenauer Foundation, the Rosa Luxemburg Foundation, the Federal Representation of Medical Students, etc.

For more information about scholarships, please check our article.

A Permanent Resident in Germany Who Can Cover Your Expenses

If you have a person with permanent resident status in Germany (inviting person) who can guarantee to support you financially for the duration of your studies, you will need to submit a declaration of their income and a document containing the terms and conditions of your agreement to the German embassy.

As part of executing a Verpflichtungserklärung, the inviting person's financial situation will be verified and their signature certified. The commitment expresses the wish to cover all living costs, ranging from accommodation to emergency cases such as illness. Regarding creditworthiness, you must be financially able to cover the bare essentials. This amount depends on your marital status, maintenance obligations, and place of residence. Prepare the following documents:

• German identity card (Personalausweis) or passport
• Copy of the visa applicant's passport
• Marital status certificate and current maintenance obligations, including life partners, spouses, or minor children
• Proof of creditworthiness, such as net income or employment contract for the last six months
• The correctly completed "Addition to the Declaration of Commitment" form (Zusatzerklärung zur Verpflichtungserklärung)
• Registration certificate of the main residence in the area and written confirmation from the landlord confirming occupancy

Depending on the case, you may need to submit additional documents. Each visa applicant must pay a fee of 29 EUR.

A Bank Guarantee

In countries where a large number of students attend German universities, students can obtain a loan from various banks to cover the costs associated with the proof of financial resources.

Depending on the banks offering loans, students may be subject to a very low or even zero interest rate.

If you choose this solution as proof of your financial resources, you must ensure that the bank commits to covering all your living and study expenses in Germany by presenting a bank guarantee document.

Cases Requiring Additional Proof

If a Company Guarantees to Cover Your Financial Obligations

The German embassy will request additional proof if a company from your home country is covering your finances.

The additional proof may consist of a document as authentication proof of the company, or a contract between you and the company guaranteeing that they will finance your studies in Germany. You are required to present the terms and conditions of the agreement to the German government, if requested.

If a Sum of Money is Deposited into Your Bank Account

If you deposit a sum of money into your bank account or if funds are transferred to your bank account, it's essential to provide information about the source of funds to the relevant financial institution.

For example, if your parents transfer money to your account, you must provide the sender's information. Or if you worked to earn the money, you must prove the money belongs to you by showing the employment contract and a copy of your bank deposits.

If You Use a Scholarship as Proof

As we mentioned above, if you use a scholarship as proof of your financial resources, you must provide proof to confirm the authenticity of the scholarship-providing organization.

When to Take Care of Financial Proof for Your Visa Application

It's important to note that the timing of your university admission does not determine when you must submit financial proof. The purpose of financial verification is to prove to the German government that you have sufficient funds to finance your studies and daily living expenses in Germany. Therefore, it's best to focus on preparing and submitting your university application before finding a way to prove your financial situation. Once accepted at a German university, the student visa and residence permit application process will begin. That's when you should start gathering documents regarding your financial resources and include them in your visa application file.

When applying for a visa, students must obtain the consent of the competent German authority in charge of foreign affairs. This could take several weeks, or even several months. Don't forget to carefully read all information published on the website of the foreign affairs office. Only complete documents are accepted. This is the fastest way to have your visa application processed because the assistance service of the German foreign ministry cannot speed things up any further. At the same time, they cannot check the status of your application.

Once your application is processed, you'll receive notifications immediately.

For More Information

If you're not living in Germany, go to the German embassy / general consulate in your home country. If you're living in Germany, go to the foreign residents registration office (Ausländerbehörde) in your city.

Additionally, don't forget to read other EDUBAO articles to stay well-informed about all the documents required to apply for a German student visa!