To obtain a Schengen visa at the Italian consulate, financial guarantees are required - a sufficient amount of funds in the account ensuring stay in the country.
According to the new rules, each applicant must provide an original personal statement of account status with transactions for the last 3 months, certified with the seal of the bank and the signature of the person who issued the document. Sponsorship is allowed only in relation to minor children. Only parents can be sponsors.
A bank guarantee from the inviting party (private person) can also act as a confirmation of financial solvency.
Source: Italy VMS
