Minimum financial requirement for long-term residence, EU Blue Card salary requirement increased

The Czech government has increased its minimum financial requirement for long-term residence and announced an increase for the EU Blue Card Salary requirement.

Key Points:

• As of April 1, Czech authorities increased the minimum living wage to 2,740 Czech Koruna.
• Foreign nationals must prove they have available funds of 15 times the amount of the minimum living wage to be eligible for long-term residence. Individuals can prove their financial means through:
  • A bank account statement.
  • Another document on financial security.
  • A valid internationally recognized payment card.
• Foreign nationals who are studying in the Czech Republic can submit proof of funds by providing a pledge from their school. This type of document can be used for long term visa application for purpose of study. Please see more information. More information is available here.
• Beginning May 1, the EU Blue Card monthly salary requirement will increase to 56,759 CZK from 53,417 CZK.

BAL Analysis: Employers are now required to meet the new minimum living wage and will be required to meet the new EU Blue Card threshold on May 1. BAL will continue to monitor salary requirements and will provide updates as more information becomes available.

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

Copyright © 2022 Berry Appleman & Leiden LLP. All rights reserved. Reprinting or digital redistribution to the public is permitted only with the express written permission of Berry Appleman & Leiden LLP. For inquiries please contact copyright@bal.com.