How to calculate sufficient funds for Ukrainian visa?
Why is it necessary to confirm the availability of sufficient funds for a foreigner?
Foreigners and stateless persons, in order to obtain a visa and/or enter Ukraine, must, among other things, provide a document or documents confirming the availability of financial support for the period of their planned stay in Ukraine.
This requirement is established by the first part of Article 21 of the Law of Ukraine "On the Legal Status of Foreigners and Stateless Persons" and the third part of Article 9 of the Law of Ukraine "On Border Control".
One of the documents confirming the availability of financial security is a bank statement showing the balance on the account of the foreigner or the inviting person. This document is most often requested by consuls and border guards. However, it is often difficult to understand exactly what amount of funds should be in the account in order to issue a visa and enter Ukraine without any obstacles.
How much money should be in the account?
The formula for calculating the amount is contained in the Procedure for confirmation of sufficient financial support of foreigners and stateless persons for entry into Ukraine, stay in the territory of Ukraine, transit passage through the territory of Ukraine and departure from its borders and determination of the amount of such support, which is approved by a resolution of the Cabinet of Ministers of Ukraine dated December 4, 2013 No. 884.
The amount of funds depends on the period for which the foreigner comes to Ukraine.
To enter and stay on the territory of Ukraine, it is necessary to have funds in the amount of 20 times the subsistence minimum per person based on the monthly calculation established in Ukraine on the day of their entry into Ukraine. Currently, it is UAH 51,780. From January 1, 2024, this amount will be UAH 58,400.
Other terms can be calculated using the formula:
The sum of 20 times the subsistence minimum per person per month (58,400 UAH) is divided by 30 days (1,946.6 UAH per day) and multiplied by the planned number of days + 5 days of stay, namely:
FS = ((20 x Пmin) : 30) x (KD+5), where FS — sufficient financial support; Пmin — subsistence minimum per person per month; KD — the planned number of days of stay on the territory of Ukraine.
For example, if a foreigner issues a visa for 90 days, then we divide UAH 58,400 by 30, and multiply the received amount by 95. You should receive UAH 184,933.3.
Another example: a foreigner plans a trip for 15 days. Divide 58,400 by 30 and multiply the resulting number by 20 (15 days + 5 days). We receive UAH 38,933.3.
Do they always require a statement with this amount of funds?
No, not always. The aforementioned procedure defines a wide list of ways to establish the availability of financial support, in particular, an official can do this by:
- study of the document confirming the reservation or payment of housing and meals in Ukraine;
- studying the contract for tourist services (voucher);
- examination of the letter of guarantee of the host party that invited the foreigner or stateless person, about assuming obligations to pay all expenses of the foreigner or stateless person, related to their stay in the territory of Ukraine and departure from its borders; (such obligation is always indicated in the invitation)
- travel ticket verification for returning to the country of citizenship or permanent residence, or to a third country with a fixed date.
However, we would like to emphasize that most often they are asked to provide a bank statement, because this is the only really working way to make sure that a foreigner actually has the funds to stay in Ukraine.
Can cash be shown?
Yes, the procedure states that the official can establish the availability of sufficient financial support by visual inspection of the availability of funds in the national currency of Ukraine or in convertible foreign currency at the rate of the National Bank on the day of entry into Ukraine by foreigners and stateless persons.
Is inviting person has to show a bank statement to make an invitation?
In order to issue an invitation to a foreigner to Ukraine, there is no need to show the notary the state of the account of the inviting party, the notary does not check it. The bank statement can be checked when issuing a visa and when crossing the state border of Ukraine.
What else should you take with you to enter Ukraine?
A valid medical insurance policy that will cover treatment in Ukraine, and an invitation from the host party.
