Proof of funds
New requirements for proof of sufficient funds
In the case a foreign national is obliged to submit a proof of sufficient funds for the stay in the CR in the required amount to the application for granting a long-term visa or issuing a long-term residence permit, he/she must prove it by any of the following documents:
* a bank account statement maintained in the name of the foreign national of which it is obvious that the foreign national can make use of these funds during his/her stay in the Territory of the Czech Republic,
* any other document on financial security (e.g. an invitation authenticated by the Police),
* a valid internationally recognized payment card which the foreign national will be obliged, upon request, to supplement with a bank account statement maintained in the name of the foreign national of which it is obvious that the foreign national can make use of these funds during his/her stay in the Territory of the Czech Republic.
To prove financial funds for permanent residence, a foreign national is obliged to submit a proof of which it is obvious that his/her income is regular. At the same time, it shall apply that a monthly income of the foreign national and his/her family members residing in the Territory is not lower than the sum of subsistence minimum of these commonly assessed people and costs of housing. The foreign national´s income can especially be proven by a confirmation of an employer of the amount of average net monthly earning, or the income tax return of natural persons, if income from business is concerned. If the income cannot be proven by any other trustworthy manner, account statements on the account kept in a bank for the previous 6 months can be submitted as a proof of securing funds for permanent residence of which it follows that the foreign national has the required amount of income.
The following is from the Czech Ministry of the Interior website:
The sufficient means for subsistence:
1) Unless specified otherwise below, sufficient resources for the stay in the territory are proven by submitting:
a) monetary resources of at least:
1.CZK 1,010 for each day of the stay if the total stay will not exceed a period of thirty days;
2.CZK 30,300 if the stay in the territory will exceed thirty days, whereby this amount is increased by CZK 4,040 for each whole month of the anticipated stay in the territory; or
3.CZK 101,000 if the reason behind the stay is the performance of business activities and the entire length of the stay will exceed ninety days; or
b) a document confirming that the services related to the alien’s stay in the territory have been paid or will be provided free of charge.
(2) In lieu of the monetary resources specified in Subsection (1) above, sufficient resources for the stay in the territory can be proven on the basis of:
a)a statement for a bank account maintained in the alien’s name, which makes it clear that the alien will have the amount of monetary resources specified in Subsection (1) above available over the course of the stay in the Czech Republic; or
b)another document that proves financial security, such as a valid internationally-accepted credit card.
(3) An alien who will be studying in the territory can submit a document on the availability of resources for the stay in the form of a binding declaration issued by a state authority or legal entity, which guarantees the provision of monetary resources corresponding to the amount of the monthly existential minimum for the length of the alien’s anticipated stay, or a document stating that all expenses connected with the alien’s studies and stay will be paid by the accepting organization (school). If the amount specified in the obligation does not meet this level, the alien is obligated to submit a document proving the ownership of monetary resources equal to the difference between the existential minimum and the obligation for the period of the anticipated stay, however no more than six times the existential minimum amount. The document on securing resources for the stay can be substituted by a decision or an agreement for a grant obtained on the basis of an international treaty that is binding on the Czech Republic.
(4) Foreign nationals who have not yet reached the age of eighteen are obligated to prove sufficient resources for their stay in amount that corresponds to one-half the amount specified in Subsection 1 above.