Show money: things you need to know about sponsorship for student visa bic_2021_admn 2022.10.13.

Show money: things you need to know about sponsorship for student visa

When you apply for a student visa, it’s important to strongly prove to the embassy that you have the necessary financial background to study abroad. The immigration authorities will want to make sure that you (or usually your sponsor) has the means to finance your living expences, your tuition fees and everything you might need, at least in the first years. For this reason, you must show a bank statement from your sponsor, proving that you (they) have enough money for you to study abroad. This is also called “show money”, as you don’t have to pay this, you just have to show that you have it.

Let’s see what you need to know about the sponsorship and show money.

In order to obtain a visa, you need a person who will finance your stay in Hungary, aka a ‘sponsor’. The sponsor can only be a parent or a legal guardian, no other relative is accepted (sister/brother, aunt/uncle, grandparent etc.).  You’ll need a couple of documents to prove the sponsorship:

  • Evidence of the relationship with the sponsor (e.g. birth certificate).
  • Your sponsor’s notarised bank statement of the last 6 months.
  • A letter from your sponsor’s employer (stating the fact of the empoyment).
  • Notarised sponsorship letter stating that your sponsor will finance your studies and transfer at least 500 EUR/month.
  • Proof of sufficient funds of the sponsor (e.g. rental contracts, depositor’s book, proof of income) coming from a regular income that must be evident from the sponsor’s bank account statements. Funds should be enough to cover your tuition fee and at least one year’s stay in Budapest (around EUR 10 000-15 000).