There will be an increase in the Finland proof of fund required for study permit applicants. This income limit, also known as proof of fund, is determined by the Finnish Immigration Service and will increase at the beginning of November 2024.
The new proof of fund, also known as income limits, will come into effect on 1 November 2024, and this applies to applications that will be submitted on and after that date.
What is the income limit? – Finland Proof of Fund
Generally speaking, you need to have a stable source of income before you can apply for a residence permit. If you have a stable source of income, you can afford to live in Finland.
Why is Finland raising income limits? – Finland Proof of Fund
According to Finland Immigration, it is necessary to increase the income limits because they were last updated in February 2013 and, as such, does not correspond to the current living costs.
According to the Aliens Act, livelihood is considered secured when the applicant for a residence permit cannot be expected to have to withdraw subsistence allowance. The current subsistence limits are lower than the average income of subsistence allowance recipients. Thus, the current subsistence limits cannot be considered to fulfill the subsistence requirement required by law.
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Current Finland Proof of Fund:
| Person | EUR per month | EUR per year |
| student | 560 | 6,720 |
| 2nd adult belonging to the same household | 700 | 8,400 |
| 1st underage family member | 500 | 6,000 |
| 2nd underage family member | 400 | 4,800 |
| 3rd underage family member | 300 | 3,600 |
| 4th underage family member | 200 | 2,400 |
| 5th underage family member | 100 | 1,200 |
| 6th underage family member and any further underage family members | 0 | 0 |
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Finland Proof of Fund as from 1 November 2024:
| Family size | Current subsistence level | Income limit from 1 November 2024 | |||
| €/month | €/year/person | €/month | €/year/person | €month/year (whole family) | |
| 1 adult | 1,000 | 12,000 | 1,210 | 14,520 | 1,210 / 14,520 |
| 2nd adult belonging to the same household | 700 | 8,400 | 610 | 7,320 | 1,820 / 21,840 |
| 1st child | 500 | 6,000 | 610 | 7,320 | 2,430 / 29,160 |
| 2nd child | 400 | 4,800 | 480 | 5,760 | 2,910 / 34,920 |
| 3rd child | 300 | 3,600 | 360 | 4,320 | 3,270 / 39,240 |
| 4th child | 200 | 2,400 | 360 | 4,320 | 3,630 / 43,560 |
| 5th child | 100 | 1,200 | 360 | 4,320 | 3,990 / 47,880 |
The family income limit increases by 360 euros for each child from the third child onwards.
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