Visa application: Documents you need for proof of financial stability

When you intend to travel out of the country either to study or stay for some time, your host country needs to be sure you can sponsor yourself for the trip and also fend for yourself when you get there. Documents you need as proof of financial stability for a visa application are like a certification to ascertain that you have all the money you claim. That is, there must be evidence that shows that you have the money to meet your expenses whether to study, relocate, or for any other reason. 

One notable thing is that if your family is involved; maybe your wife and or your children, definitely your financial capability must be high.

1. Bank statement

The most essential document you must tender to any country’s embassy is your bank statement. It is a record that contains all your financial transactions over a specific period. The account must bear your name and the details should be older than six months. Most banks include the following information: 

1. Transaction description.
2. Transaction date.
3. The deposits made into the account (credits).
4. The sum taken out of the account (debits).
5. Account balance.

READ ALSO: 7 ways to demonstrate your home ties when applying for a visa

2. Not having enough funds

It is possible not to have enough funds (it depends on the country) that can make you eligible to apply for a visa. There are other ways you can solicit help such as spouse sponsorship, employer sponsorship, moneylenders, or family and friends.

3. Employer sponsorship

Employer sponsorship is another document that can serve as proof of your financial stability. You have to provide an employment letter from the company that hired you, your account that has details of how you’re paid, and a sponsorship letter from your company. All these credentials can help you secure a visa.

4. Spouse sponsorship

Any document that can prove your relationship with your spouse is what you would tender at the embassy. Spouse sponsorship apart from employer sponsorship is one of the most common ways of getting help for a visa application.

5. Family and Friends

Your family and friends can be of great help to you by lending you money.

6. Moneylenders

There are different money lending fintech companies in Nigeria now. What they need from you is your phone number, Bank Verification Number, and guarantors’ details. But this kind of fund comes with a lot of interest.