Finland Mentions Minimum Bank Balance for Foreign Students Seeking Residence Permit
- Finland's Finnish Immigration Service has published the exact amount foreign students must have in their bank accounts to qualify for a student residence permit
- Students applying for courses lasting one year or longer must show at least a certain amount in their account at the time of application
- The income requirement changes depending on whether the educational institution provides free accommodation or meals to the student
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Finland's Finnish Immigration Service has outlined the minimum financial requirements that foreign students must meet before they can be granted a residence permit to study in the country.
According to the official guidelines published by the Finnish Immigration Service, applicants must demonstrate that they can fully support themselves throughout the duration of their stay, and work income cannot be used to satisfy this requirement when applying for a first permit.
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Finland residence permit: How much students need
The amount required depends on the length of the intended studies. Students enrolled in programmes lasting one year or more must have at least EUR 9,600 (roughly N15m) sitting in their bank account at the point of submitting the application. For shorter programmes, the requirement is EUR 800 (N1.2m) per month for the duration of the course.
The EUR 800 monthly figure covers the cost of accommodation, food, and other everyday expenses. If a student has received a grant or scholarship towards their living costs, that amount can be subtracted from the bank balance required. For instance, a student coming for one year who has been awarded a EUR 2,000 grant would need to show EUR 7,600 in their account rather than the full EUR 9,600.
Students whose institutions provide free accommodation benefit from a reduced threshold, needing only EUR 400 per month at their disposal. Where both free accommodation and free meals are provided by the institution, the monthly minimum drops further to EUR 270.
Tuition fees and what students must prove
Tuition fees add another layer to the financial requirements. Most higher education institutions and universities in Finland charge fees for international students. If the tuition for the first year has already been paid before the application is submitted, the student simply needs to attach proof of payment alongside evidence of sufficient living funds.
However, if tuition has not yet been paid at the time of application, the student's bank account must cover both the first year of tuition and the full living cost requirement simultaneously. Critically, the funds set aside for living expenses cannot be counted towards paying the tuition fee — the two must be separate.
Students who hold a scholarship specifically covering their tuition fees must attach a certificate from their institution confirming this, and they still need to separately prove they have adequate funds for day-to-day living in Finland.
Legit.ng has also published residency years for foreigners who want to become Qatari citizens.
Citizenship: Australia mentions residency years for foreigners
Meanwhile, Legit.ng previously reported that Australia's Department of Home Affairs has outlined the residence requirement foreigners must meet before applying for citizenship.
Applicants must have lived in Australia on a valid visa for a number of years before the date they apply for citizenship.
The rules also specify how much time applicants are allowed to have spent outside Australia during that period.
Source: Legit.ng
