New Requirements For Long-Term Residence Applicants

Key Points 

• Foreign nationals applying for long-term residence in the Czech Republic will be required to provide proof of meeting certain financial requirements

Overview

On 1 April 2022, the Czech government introduced new financial measures for foreign nationals who seek long-term residence in the country. These foreign nationals will be obligated to prove that they hold funds that are 15 times the amount of the average minimum wage in the Czech Republic. Currently, the average minimum living wage is 2,740 CZK.

In addition, the foreign national must hold proof of these funds through a bank account statement, other documents proving financial security, or a valid internationally recognized payment card.