Proof of Funds for the Residence (Finances)
A proof of funds for the residence is a necessary document that must be provided for long-term visa, long-term residence permit and permanent residence permit applications.
LONG-TERM RESIDENCE PERMIT
A PERMANENT RESIDENCE PERMIT AND SOME TYPES OF LONG-TERM RESIDENCE PERMITS
Long-term visa applicants (except for the purpose of doing business) must prove that they have funds in the amount of 15 times the subsistence minimum, and at the same time of also twice the subsistence minimum for every whole month (except for the first month) of their expected stay in the country.
Since January 1st 2023 the subsistence minimum is 3,130 CZK a month.
Example: for a stay in the Czech Republic from January 1st to June 30th you would have to prove funds in the amount of: (15 × 3 130) + (5 × 2 × 3 130) = 46,950 + 31,300 = 78,250 CZK.
If you are under 18 years of age, you must prove half the amount of the funds.
Except for the purpose of doing business
Long-term visa for the purpose of doing business
In the case of long-term visa applications for the purpose of doing business, you must prove funds in the amount of 50 times the subsistence minimum. Since January 1st 2023 it is 156,500 CZK (50 x 3 130).
You can prove the amount of funds with:
- Statement from an account held in a bank or another financial institution in your name from which it is clear that, during your stay in the country, you have the necessary amount of funds at your disposal.
- If it is not clear, you may be requested to provide a valid internationally recognised payment card issued for the given account.
- Another proof of funds from which it will be clear that you have the required amount of funds at your disposal, or that the payment of the costs related with your stay in the Czech Republic is covered.
- Valid internationally recognised payment card the use of which in the Czech Republic is not excluded. Upon the administrative authority’s request, you must further provide a bank account statement.
- If you want to study in the Czech Republic (that is, if you are applying for a residence permit for the purpose that is considered as studies within the meaning of Section 64 of the Foreigners Act, not for a long-term visa for the purpose of “other”), as a proof you can provide a commitment issued by a public authority or a legal entity confirming that they will cover your stay in the Czech Republic by providing you with the funds in the amount of the subsistence minimum for 1 month of the expected stay. Alternatively, you can provide a proof that all the costs related with your studies will be covered by the receiving organisation (the school). If such a sum does not reach the required amount, you must provide a proof that you own funds in the amount of the difference between the amount of the subsistence minimum and the commitment for the length of the expected stay, but at most in the amount of 6 times the subsistence minimum. A proof of funds can also be substituted with a decision or an agreement to award a grant on the basis of an international agreement which is binding for the Czech Republic.
- A proof of funds can be substituted with a proof of payment for the services related with your stay in the country, a confirmation that the services will be provided free of charge or with an invitation verified by the Foreign Police.