Financial Guarantees

All foreign citizens intending to enter the territory of Italy or another member state of the Schengen Agreement must provide proof that they have sufficient funds to cover the expenses of their planned trip.

The sum of financial guarantee required to travel to Italy is calculated based on the parameters approved by the Ministry of Internal Affairs of Italy (see the table below) and does not include the costs of travel tickets and accommodation.

Any of the following documents will be considered sufficient proof of financial resources:

• applicant’s original bank account statement showing balance and bank operations over at least the last three months with the stamp and signature of an authorized personnel. The account may be open in any currency, including Rubles. Bank account statement is valid for 30 days.

+

Extract from the Russian Pension and Social Insurance Fund for the last 10 years. The document should be digitally signed;

• fidejussione bancaria or polizza fidejussoria (original + copy) from the inviting party (private individual). The amount of money is secured in the name of the applicant on the inviting party’s bank account, a corresponding document is issued, which the applicant must have in the original form. As a rule, large banks, as well as insurance companies issue such document;

If the applicant is unemployed or a student without a source of income, sponsorship documents must be presented. Only immediate relatives (parents, spouses, adult children) can act as sponsors. Only parents/legal guardians can sponsor minor children.

The applicant needs to provide the following documents as proof of sponsorship:

- sponsor’s financial guarantee (see above);

- sponsor’s document of socio-professional standing; For detais…

- documents confirming immediate relationship (birth certificate, marriage certificate – in original + copy). If any of the persons concerned has changed their surname, documents proving it should also be presented;

- sponsor’s identification document (a copy of the domestic passport’s main page);

- sponsorship letter in English or Italian, indicating the following information:

• full name, date and place of birth of the applicant;
• full name, date and place of birth of the sponsor;
• personal code issued by Member State concerned, if applicable;
• address and contact details of the sponsor;
• the link between the sponsor and the applicant;
• destination and duration of the visit;
• list of costs which are covered by the sponsor.

Financial guarantees can be provided in rubles, dollars and sterling pounds on euro exchange rate.

Minimum available financial resources required to cover the cost of suitable accommodation and other expenses in Italy (in Euros).

*How to calculate? For 15 day trip: 51,64 (fixed amount) + 36,67 * 15 = 601,69 euro’s.