Proof of Financial Resources: Everything You Need to Know

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Proof of Financial Resources: Everything You Need to Know

Germany is a popular destination among students to pursue higher education. The major reason for this fame is its quality education at very low costs. Almost all public universities in Germany are free of tuition charges. German universities charges only semester contributions also the amount is quite justified. Another major factor of fame is its affordable living facilities. Despite this fact, German officials always try to ensure that you have enough financial resources to stay and study in Germany. You need to prove your funds to get a German student visa.

To get a document proving your financing “Finanzierungsnachweis” you need to prove that you have enough resources to stay in Germany for around a year. This amount roughly costs 11,172 Euros.

Do I need to Proof Financial Resources?

If you are a non-Eu student then yes, you need to prove your financing. Every student who needs a visa to enter Germany needs to prove financing to get a student visa. If you are from a country that is not European but not requiring a visa, you need to prove your financing while applying for a residence permit. For EU students there is no need for such documents.

Various Ways to prove Financing

You can prove your financing in various ways. Some of the most prominent ways to prove your resources are:

- Deposits in a Blocked account
- Guarantee by Bank
- Scholarships from the recognized bodies
- Financial assets of parents
- Host taking care of all your expenses in Germany

Generally opening a German-blocked account is opted for by most students to prove their financial resources. Proving financial resources is a crucial step. Usually, this step does not consume much time but sometimes it is. You need to be an early applicant if you are planning for a blocked account as you will also need to get an appointment from the bank to get your card for withdrawals.