Bank deposit amount to be increased for student visa applicants

IMPACT – MEDIUM

The German government has announced that it will be increasing the amount foreign nationals must have in a blocked bank account to obtain a student visa.

Key Points:

• Beginning Jan. 1, 2023, foreign nationals must have €11,208 in a blocked bank account to satisfy the financial resources requirement when applying for a student visa.
• Until Jan. 1, 2023, foreign nationals need €10,332 in a blocked bank account to satisfy the financial resources requirement when applying for a student visa.
• Foreign students will only be permitted to withdraw €934 per month from their blocked bank account.

Additional Information: Many countries have providers that offer blocked bank accounts; more information on local blocked account providers is available at German missions abroad.

BAL Analysis: Foreign students should note the new amount they will be required to have in a blocked bank account when applying for a student visa in Germany and plan accordingly.

This alert has been provided by the BAL Global Practice group. For additional information, please contact berryapplemanleiden@bal.com.

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