In this post we will have a thorough discussion of the proof of economic means needed for your longterm student visa application. Please note that this information is for auxiliares de conversación with the Ministry.
You want to join the Auxiliares de Conversación Program next year?
Guess what? There’s a requirement that you can already prepare as early as now!
And that is…
THE PROOF OF ECONOMIC MEANS.
According to the list provided by the Ministry, the proof of economic means include the following:
- Bank Certificate
- Statement of Account
If you haven’t yet, open a bank account and start depositing money frequently! Once a month is okay!
Why, you ask?
Opening your personal bank account has some pros, especially during your visa appointment, but the most important is:
There will be less questions and little to no additional requirements. So, no coming back to the Consulate to submit additional paperwork! Less inconvenience! Less money wasted (or spent)!
If you are already employed, not a fresh graduate or over 23 (or 26), the expectation is that you already have your own savings. After all, living in Spain is not as cheap as living in Manila (but that depends on your lifestyle, of course).
In my case, I opened a bank account in April 2018 for the sole purpose of depositing as much as I can leading up to my visa application for the 2019 intake.
The immigration officers can be particular about how frequently deposits are made in your account. They want to make sure that you are not just providing them SHOW MONEY.
And here’s a frequently asked question:
*** How much should I have in my bank account? ***
During the 2019 orientations, it was said that the average monthly cost of expenses in Spain is around €550. That is around Php32,000 per month. It was also said that you should have at least enough to cover the first three months of your stay in Spain, so around €1,650 (or Php96,000). This is because the first deposit of our allowance may be delayed by a few days, or, in the case of some regions, by a few months. Of course, there were auxiliares who were granted their visas with less than this amount, but it’s better to err on the side of caution.
Long story short, it’s better to have at least Php100,000 in your bank account accumulated over a good amount of time, not in one go. If you chose Comunidad Valenciana, be prepared to have more than that amount. While Valencia is a gorgeous region, it is notorious for its late payments. Some reported that they did not receive their payment until 4 months later!
UPDATE (August 2020): The proof of economic means is crucial. I cannot stress this enough. As of today, I know of two applicants whose visa application was denied, due to “proof of economic means not justified”. Really, if there’s a make-or-break in your visa application, it’s the documents that you provide to support your financial means in Spain. It will also be better if you have more than Php120,000 in the bank (I’d say Php150,000 just to be on the safe side). And if you declare that you have a business, you’d better show your ITR for it, or else, expect a visa denial.
*** But I’m still a student/a fresh grad and my parent/grandparent/uncle/aunt/cousin/sibling/spouse is sponsoring me. Can I still include them just to prove to the immigration officers that I can support myself while in Spain? ***
By all means! No one is stopping you from providing additional proof of economic means.
Do note that there are additional documents if you will include your parents or relatives (including those living abroad) as your sponsors, such as:
- Affidavit of support, fully translated into Spanish and authenticated at the embassy of their country of residence
- Here’s a template that you can use for the affidavit of support
- You will also have to prove your relationship with your sponsor. That means attaching birth certificates and other documents that will strongly prove the relationship, such as marriage certificates.
Are joint accounts acceptable?
Yes, they are! But make sure that your name is in the bank certificate and statement of account, and there there is a sizeable deposit over a long period of time.
The point of this post is to share a way for people to feel less stressed when preparing the visa requirements, especially those who will be presenting their personal bank accounts. 😄
Got any other questions about the proof of economic means? Post them below! CM