Blocked Account Germany Visa
Europe continues to be a top destination for international students and job seekers, and Germany, in particular, has become a popular choice. For many visa applicants, getting a blocked account is an important part of the visa application process. But what are blocked accounts and why are they required for a Germany visa application? In this article, we’ll answer all the frequently asked questions about Germany’s blocked account visa requirements.
What is a Blocked Account in Germany?
A blocked account (also known as an “escrow account”) is a German savings account designed for foreign students and other long-term visa holders. A blocked account is not a regular bank account, but rather a special type of savings account in which the funds are blocked for a certain period of time. Typically, the funds are “unblocked” once the visa holder’s residence permit is approved.
What is the Purpose of a Blocked Account in Germany?
The purpose of a blocked account is to prove that the visa applicant has sufficient funds to support themselves while living in Germany. Since many visa applicants are coming from countries where the economy or currency is not as stable, the blocked account ensures that they will have the funds they need to cover their basic living expenses during their stay in Germany.
Is a Blocked Account Required for a Germany Visa?
Yes, a blocked account is required for all applicants applying for a Germany visa, with the exception of those applying for visas for a short-term stay of less than 90 days. It is important to note that a blocked account is not just for those applying for student visas, but all long-term visa types such as employment visas, family reunification visas, Au Pair visas, research visas, and more.
What Documents are Required for a Blocked Account in Germany?
In order to open a blocked account in Germany, the visa applicant must provide the following documents:
- A completed and signed blocked account application form.
- A valid passport.
- Proof of sufficient funds for your stay in Germany. This can be a bank statement, an investment certificate, or an inheritance deed.
- A residence permit, if applicable.
- Proof of payment of the required blocked account fee.
How Much Money is Required for a Blocked Account in Germany?
The amount of money required for a blocked account in Germany depends on the planned duration of stay. For stays lasting 6 months or less, the amount is €7,200, while for stays lasting more than 6 months, the amount is €10,590. It is important to note that the required amount must be transferred to your blocked account prior to submitting the visa application.
Where to Open a Blocked Account in Germany?
A blocked account in Germany can be opened at any of the government-approved financial institutions, such as Deutsche Bank, Commerzbank, Fintiba, and others. Each institution has its own terms and fees, so it is important to compare the options before choosing the best one for your needs.
What is the Processing Time for a Blocked Account in Germany?
The processing time for a blocked account in Germany varies from one institution to another, but in general it takes about 14-20 days for the account to be opened and the funds to be transferred. However, in some cases it can take longer, so it is important to plan ahead and allow enough time for the blocked account to be opened.
How to Close a Blocked Account in Germany?
In order to close a blocked account in Germany, the visa holder must submit a request to the financial institution in which the account is held. The request must include a completed and signed account closure form, as well as proof that the visa holder’s immigration status has changed (e.g. a cancelation of the residence permit). Once the financial institution has received the request, it will transfer the remaining funds in the account to the visa holder.
FAQs
- Do I have to open a blocked account in Germany?
- How much money is required for a blocked account in Germany?
- Where can I open a blocked account in Germany?
- How long does it take to open a blocked account in Germany?
- How do I close a blocked account in Germany?
Yes, a blocked account is required for all applicants applying for a Germany visa, with the exception of those applying for visas for a short-term stay of less than 90 days.
The amount of money required for a blocked account in Germany depends on the planned duration of stay. For stays lasting 6 months or less, the amount is €7,200, while for stays lasting more than 6 months, the amount is €10,590.
A blocked account in Germany can be opened at any of the government-approved financial institutions, such as Deutsche Bank, Commerzbank, Fintiba, and others.
The processing time for a blocked account in Germany varies from one institution to another, but in general it takes about 14-20 days for the account to be opened and the funds to be transferred.
In order to close a blocked account in Germany, the visa holder must submit a request to the financial institution in which the account is held. The request must include a completed and signed account closure form, as well as proof that the visa holder’s immigration status has changed. Once the financial institution has received the request, it will transfer the remaining funds in the account to the visa holder.
Conclusion
Getting a blocked account is an important step in the Germany visa application process. To apply for a blocked account, applicants must provide the required documents, transfer the required funds, and open the account at a government-approved financial institution. A blocked account is required for all visa types, with the exception of short-term stays of less than 90 days. Once the visa holder’s residence permit is approved, the funds in the blocked account can be accessed.
