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.

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.