Sweden States Minimum Amount Foreigners Need to Apply for a Residence Permit
- Sweden's government has set a clear financial requirement for foreigners seeking a residence permit to live in the country
- The Swedish government specified the exact monthly amount applicants must prove they have in their bank account to qualify
- Applicants are also required to have additional funds to cover the cost of travelling back to their home country
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Sweden has set out the exact amount of money a foreign national must have available before applying for a residence permit to live in the country.
According to the Swedish government, every applicant is expected to demonstrate financial self-sufficiency for the entire duration covered by their permit application.
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Residence permit: Sweden's minimum self-sufficiency requirement
Specifically, the applicant must show proof of at least SEK 13,000 (N1,813,869) for every month they are applying to stay in the country.
The government made this clear in its official guidance, stating:
"You must be able to support yourself financially."
"You must be able to support yourself during the period for which you are applying for a permit. This means that you must demonstrate that you have bank assets equivalent to at least SEK 13,000 for each month for which you are applying for a residence permit. In addition to this, you should also have money to cover the cost of your return journey."
What the financial condition means for applicants
Beyond the monthly living threshold, applicants are also expected to hold enough funds to cover the cost of a return trip to their home country. This is a separate requirement from the monthly living allowance and must be accounted for in addition to it.
The implication is that a person applying for, say, a six-month residence permit would need to demonstrate access to at least SEK 78,000 in bank assets, roughly N10.9 million at the current exchange rate, before their application would be considered. Any shortfall in available funds could result in the application being denied.
The Swedish government's position is that financial independence is a core condition of residency, and applicants who cannot show they can sustain themselves without relying on public resources are unlikely to meet the threshold for approval.
Sweden sets income requirement for citizenship
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Meanwhile, Legit.ng recently reported that Sweden had announced the minimum monthly income foreigners must earn to meet the maintenance requirement for citizenship in 2026.
The Swedish Migration Agency said applicants aged 18 to 67 must earn at least SEK 20,850 per month from employment or self-employment, while also meeting the requirement on social assistance.
Source: Legit.ng
