EU Proposes Schengen Visa Fee Increase, Citing Inflation
March 5, 2024 · Residency by investment · 7 min read
In March 2024, the European Commission (EC) put forward a draft 12% Schengen visa fee increase, citing the impact of inflation across the European Union (EU).
A Schengen visa is required for nationals of non-EU countries that are not covered by the visa-free regime of the EU and the Schengen Area for short stays of up to 90 days. It allows the holder to travel to the 29 countries of the Schengen Area.
What will the new Schengen visa fees be?
The European Commission presented its draft proposal to raise Schengen visa fees on February 2, 2024, after experts from the member states backed the change by an “overwhelming majority.” The Commission collected feedback until March 1, giving EU citizens the chance to share their views and say whether they supported the proposal. Once adopted, the changes would take effect 20 days after their publication in the Official Journal of the European Union.
Under Schengen Area rules, visa fees are reviewed every 3 years based on the EU’s overall inflation rate. With inflation recently reaching record double-digit levels, the Commission said the proposed increases reflect “the need to respond to rising costs in EU economies.” It stressed that all revenue generated by Schengen visas goes directly toward running the related IT systems, staff, and consular infrastructure. The proposed changes are as follows:
- Fees would rise by 12%, from €80 to €90 for adults and from €40 to €45 for children.
- The draft would also allow external Schengen visa service providers to charge higher fees. External providers, such as visa application centers that collect Schengen visa applications on behalf of member states, can usually charge a service fee of up to half the standard visa fee.
- The Schengen visa extension fee is expected to remain at €30.
The EU has also announced plans to move Schengen visa applications online, an idea discussed in 2022. Travelers will be able to apply online regardless of which country they plan to visit, and the digital visa will replace the current visa sticker in the passport. The Commission said it hopes to roll out the process by 2028.
Options for visa-free travel to the Schengen Area
Investors from outside the Schengen Area who hold permanent residence or another residence permit issued by an EU member state in the Schengen Area, or citizenship of a country whose nationals are exempt from Schengen visas, would not be affected once the proposal takes effect.
Residency by investment programs in member states such as Greece, Spain, and Malta allow investors to obtain a residence permit and the benefits that come with it. The most common route is real estate investment, with a minimum investment starting from €250,000 (approximately US$280,000). The investment and application process typically takes around 12 months, and most steps can be completed from your country of residence. Investors need to travel to Europe only to complete their residence card registration once their application has been approved.
Beyond short-stay visa-free travel within the Schengen Area, investors and their families may also have access to benefits in the country that issues their residence permit, such as tuition-free public education and European-standard healthcare, subject to local rules. Over time, investors may also become eligible to apply for citizenship, subject to that country’s naturalization requirements.
In addition, citizenship by investment programs in Caribbean countries such as Grenada and Dominica give investors visa-free access to the Schengen Area for short stays once they become citizens. The minimum investment starts from US$200,000 in 5-star luxury resort projects, or from US$100,000 as a government contribution. The investment and application review process typically takes 8–12 months. Most of the process can be completed from your country of residence, and there is no residency requirement to maintain citizenship.
If you are interested in visa-free travel to the Schengen Area, contact IMM Group or leave your details below. Our experienced advisors will provide detailed guidance and help you assess which program best suits your family and how strong your application is. We keep your personal data confidential and use the information you provide only to advise on your family’s case.
IMM Group
- Tags:
- European citizenship
- freedom of travel within the Schengen Area
- European permanent residence
- Schengen visa
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