Surety insurance or bank guarantee for foreigners entering Italy: which to choose?
Surety insurance or bank insurance represents those particular guarantees required by the Italian State for the granting of an entry visa to a foreign citizen. They may be requested for the granting of a tourist visa, for study, medical treatment, religious reasons, and, finally, for sports competitions.
Surety insurance and Italian legislation on means of subsistence
For the granting of a visa, all non-EU citizens must meet some specific requirements, including the ability to demonstrate to having financial means.
The Directive of 01/03/2000 decreed that the proof of financial means can be shown using cash, surety, credit instruments, or a source of income in Italy, according to the following table for stays within 90 days.
Table for determining the means of subsistence required for entry into the national territory for tourism
| Classes of travel duration | One participant | Two or more participants |
| 1 to 5 days Total fixed fee | 269,60 € | 212,81 € |
| 6 to 10 days Daily fee per person | 44,93 € | 26,33 € |
| From 11 to 20 days Fixed fee + Daily fee per person | 51,64 € 36,67 € | 25,82 € 22,21 € |
| Over 20 days Fixed fee + Daily fee per person | 206,58 € 27,89 € | 118,78 € 17,04 € |
What does an insurance surety consist of? What does an insurance surety consist of?
The purpose of a surety is to prove to the Italian State that the applicant has sufficient financial means to support himself during his stay in Italy.
As written above, there are two types of surety:
– banking. The exact value of the amount required by law is deposited with the bank. The bank will then freeze the sum in the contractor’s account and issue the surety policy.
– insurance. Upon payment of a sum predetermined by the company, the surety policy is issued, without freezing the sum in a bank account.
In addition to constituting a fundamental requirement for the granting of various types of visas, the presentation of the surety is also required at the very moment of entry into Italy. Failure to present the policy at the check by the competent authorities may lead to the issuance of a formal refusal of entry at the border.
Who can sign a surety or a bank guarantee?
The parties involved in the issuance of the surety are:
– Contracting party. It must be an Italian citizen or a non-EU citizen who has a regular residence permit in Italy.
– Beneficiary. The foreign citizen who could benefit from the sum guaranteed in the surety if the policyholder no longer meets his needs.
– Guarantor. The credit institution or insurance company that issues the policy.
The insurance surety offer
Our partner Generali has always been attentive to the needs of foreign citizens and has come up with a solution for these policies as well.
The company offers its clients the possibility of taking out the relevant surety bonds based on the limits established by the regulations, as shown in the following table:
| Surety | Reason for entering Italy | Insured ceiling |
| 90 days | Tourism, Medical treatment (accompanying person), Religious reasons, Sports competitions | 2716,68 € |
| Six months | Non-university study, Religious reasons, Medical treatment (accompanying person) | 5226,78 € |
| One year | Non-university study, Religious reasons, Medical treatment (accompanying person) | 10386,43 € |
For further information on how to subscribe to it, do not hesitate to contact us!
