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“How can I stay in Europe or the Schengen Countries / Area for a longer period of time?”

This is one of the most common questions that I get from readers, especially because I have been able to stay in the Schengen Area for more than the usual 90-day limit despite being an unmarried non-EU (non-European Union) national with a third world country passport.

I understand that a lot of people would want to have the right to stay for more than 90 days, since going on a complete ‘Eurotrip’ can’t really be done in such a short span of time. So with this post, I will be giving you different ideas and options on how you can legally extend your European vacation! But first, let me give you a bit of background information.

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The Schengen Area & The 90-Day Limit

The Schengen Area is a group of 26 countries that comprises most of Europe. As part of a unified agreement, all of them have agreed to abolish passports and internal border controls. This means that all the Schengen countries act as if they are only ‘one country’ — every citizen of each member state is free to go anywhere they want, while outsiders who want to enter Schengen would experience border control once at the first country that they entered, but after that, entering other member countries would no longer require further immigration control.

These 26 countries are namely:

Austria

Belgium

Czech Republic

Denmark[1]

Estonia

Finland

France[2]

Germany

Greece

Hungary

Iceland

Italy

Latvia

Liechtenstein

Lithuania

Luxembourg

Malta

Netherlands[3]

Norway[4]

Poland

Portugal

Slovakia

Slovenia

Spain[5]

Sweden

Switzerland

[1] Excluding Greenland and the Faroe islands [2] Excluding overseas departments and territories [3] Excluding Aruba, Curaçao, Sint Maarten and the Caribbean Netherlands [4] Excluding Svalbard [5] With special provisions for Ceuta and Melilla

From the above list, 4 of these are non-EU (or EFTA member states that may have border control) — Iceland, Liechtenstein, Norway, and Switzerland — whereas 22 are part of the EU.

However, to date, there are 2 members of the EU; so what happened to the other 6? Well, four — Bulgaria, Croatia, Cyprus and Romania— are still pending, and two — Ireland and the United Kingdom — decided to opt-out.

TRIVIA: There are 3 additional European microstates — Monaco, San Marino, and the Vatican — that can be considered as de facto within the Schengen Countries given how they don’t have border controls with the countries that surround them; but it’s important to note that they are not official Schengen member states since they have not signed documents for it.

The Schengen Visa serves as the basic short-term visa that you will need to be able to stay in all of the 26 countries. However, non-Schengen citizens are allowed to enter the area without this (their passport will only get stamped upon arrival and departure) as long as they are residents of:

Albania[*]

Andorra

Antigua and Barbuda

Argentina

Australia

Bahamas

Barbados

Bermuda

Bosnia and Herzegovina[*]

Brazil

Brunei Darussalam

Bulgaria

Canada

Chile

Costa Rica

Croatia

Cyprus

El Salvador

Guatemala

Honduras

Hong Kong SAR

Israel

Japan

Macao SAR

Macedonia[*]

Malaysia

Mauritius

Mexico

Moldova

Monaco

Montenegro[*]

New Zealand

Nicaragua

Panama

Paraguay

Romania

Saint Kitts and Nevis

San Marino

Serbia[*]

Seychelles

Singapore

South Korea

Taiwan[2]

USA[2]

Uruguay

Vatican

Venezuela

[*] Visa waiver applies only to holders of biometric passports [1] Including The Cook Islands, Niue, Tokelau [2] Passport must include identity number

[3] Including Virgin Islands of The United States, American Samoa, Guam, Puerto Rico DISCLAIMER: This list is as of February 2015 NOTE: Ireland, UK and their territories are allowed limitless entry

If you are NOT a resident of one of the countries above (which mostly comprises citizens of Africa and Asia) you would then need to apply at an embassy to obtain a tourist/short-term Schengen Visa.

If you’re from the Philippines, go here to read my visa guide for obtaining a Schengen Visa from the Embassy of Belgium; although, if you’re entering a different Schengen country or staying somewhere else the longest, do consult the corresponding embassy to find out their requirements. Most of the time, the prerequisites are the same as that in my article for Belgium, but of course it’s always important that you recheck so you don’t miss out on any documents needed.

NOTE: It helps to mention that there are non-Schengen members in Europe that allow entry to their country if you have a Schengen Visa, namely: Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Cyprus, Macedonia, Monaco, Montenegro, Romania, San Marino, Serbia, Turkey, and Vatican City.

HOWEVER, you must check these details beforehand since their rules might have changed. Plus, customarily, only multiple-entry Schengen visas are allowed. You can check this list for more details and updates.

Once you are allowed to enter the Schengen Area — with just your passport or with a short-term visa — you are ONLY permitted to stay for 3 months (90 days) per 6 month period (10 days). The 90 day span doesn’t need to be consecutive, it’s treated as cumulative; but the fact remains that after you have stayed in Schengen for a total of 90 days, you have to leave. You are NOT allowed to come back again until the 11st day from the first time you stepped in.

IMPORTANT UPDATE (March 2015): Apparently, as of 1 October 2013, the Schengen member states changed the calculation of the 10-day period. To know more about this and avoid fines, deportations, and bans in Schengen, please check this article.

If you don’t leave by the time you hit 90 days, you are subject to a fine or deportation; worst case scenario, you will be banned from the Schengen Area for a period of time (1-3 years) or indefinitely.

It’s sometimes considered as ‘okay’ if you stay for a couple more days and even up to a week, but I advise that you don’t try and push it especially if you’re on a visa. And if you stay longer than a week, you should know that you’re going to be in big trouble.

Nevertheless, it’s said by most travelers (who are free to enter Schengen countries with just a passport) that southern countries like Greece, France, Spain and Italy are not so strict on checks. While the western countries like Belgium, Germany, Netherlands, and EFTA states (Iceland, Liechtenstein, Norway, Switzerland) are very firm with entry and exits (primarily at the airports or train stations, more so if you’re going to an isolated island).

Still and the same, as I’ve mentioned, you shouldn’t ‘push it‘. Follow the rules and if you really want to stay longer than the 90-day limit, below are the different ways that you can stay longer, legally!

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Ways to Legally Stay Longer

DISCLAIMER: I am NOT an embassy officer nor a migration agent. I am only here to provide you ideas on how you can stay in Schengen countries longer. If you ever need any help with visas or procedures, please check the links that I have provided and contact the appropriate departments instead. Also, I do not guarantee that the information below will remain to be true, if let’s say you’re reading this in 2020; therefore, please make it your responsibility to recheck the facts. Thank you!

Each section below would have options or solutions that are ‘generally unknown’. For quicker reading, you can click to the items below to navigate to the section that you want to see best:

#1 – Study

Student visas in all Schengen countries are not hard to obtain for as long as you are accepted, enrolled, or invited by a university or school. (Which you should apply for before entering a Schengen country). Naturally, you would have to pay for these courses but you can always work part-time while studying, since most student visa holders are allowed to do so. Otherwise, you could try to get a scholarship, apply to an exchange program (if you’re still studying) or simply enroll to the FREE universities.

Yes, you read that right… free!

There are actually several countries in Europe that chose to eradicate tuition fees for both local and international would-be students and they are listed below (along with other countries who have the cheapest tuition):

FINLAND Lowest yearly tuition fee possible: FREE Regardless of nationality, tuition fees in Finland are absolutely free in whatever level! (Plans of putting tuition fees on non-EU students for 2016 have been totally abandoned). But as per any student application abroad, you would need to prove that you can handle your living expenses. Proof of ‘means of support’ per month: At least $630+ (Php 27,00+) For more information: See ‘Studying in Finland‘ NORWAY Lowest yearly tuition fee possible: FREE No matter your nationality, local or international, state universities and university colleges in Norway do not charge tuition fees, and much like Finland, it applies to all levels: undergraduate, masters and Ph.D. (Some specialized courses might still have fees though small, so always recheck with the university. Private institutions on the other hand, would still have fees.) Proof of ‘means of support’ per month: At least $1,000+ (Php 44,200+) For more information: See ‘Studying in Norway‘ AUSTRIA Lowest yearly tuition fee possible: FREE or $412 (Php 1,200+) If you’re from a 3rd world country, some universities in Austria will exempt you from paying any tuition, whereas any other non-EU resident will most likely just pay around $412 (at the lowest possible). Proof of ‘means of support’ per month: At least $900+ (Php 40,000+) For more information: See ‘Studying in Austria‘ GERMANY Lowest yearly tuition fee possible: FREE or $1,000 (Php 44,200+) As of 2014, all public German universities offer higher education free-of-charge not only to local but international students! However, it’s important to note that this is true for the undergraduate level only, and that there might still be some administration fees (but the cost would start at about $57 or Php 2,500+). Just make sure to check that the course you’re applying for is in English; however, if you’re fluent in German then that’s better. Proof of ‘means of support’ per month: At least $770 (Php 34,000+) For more information: See ‘Cost of Studying in Germany‘, ‘List of Free German Universities‘ and ‘Studying in Germany‘ HUNGARY Lowest yearly tuition fee possible: $1,000+ (Php 44,200+) The good thing about Hungary is that unlike the Scandinavian countries, it is one of the European countries that has a more affordable cost of living, thus, proving your ‘solvency’ would be easier than the others. Proof of ‘means of support’ per month: At least $566+ (Php 25,000+) For more information: See ‘Studying in Hungary‘ FRANCE Lowest yearly tuition fee possible: $1,000+ (Php 44,200+) You’re lucky if you can find a cheap university in Paris, because the cheapest ones are actually found outside of it (Lyon is one example). I have actually been told that there are public universities that can only cost $300 a year but since I wasn’t provided with the exact university names, I leave it up to you to do the research. Proof of ‘means of support’ per month: At least $500+ (Php 22,000+) For more information: See ‘Studying in France‘ BELGIUM Lowest yearly tuition fee possible: $1,100+ (Php 50,000+) I have tried this option before through the University of Antwerp for one of their 1-year Master Programs and the process of obtaining a student visa was fairly easy given how I was backed up by the university. The tuition was worth $2,000+ (Php ,500+) which is almost double the lowest yearly tuition possible; so if you want to get the cheapest, try the University of Leuven, Hasselt University or University of Ghent (I didn’t manage to apply for these three since I was late for their deadlines, that’s why I resorted to saving up for the $2K through my online work to pursue the University of Antwerp). Proof of ‘means of support’ per month: At least $730 (Php 32,300+) For more information: See ‘Studying in Belgium‘

» READ: Money Saving Tips to Come Up With a Travel Fund

ITALY Lowest yearly tuition fee possible: $1,500+ (Php 66,400+) Italy is known for providing studies on fashion, history, and liberal arts at an affordable cost for international students. Living expenses should be easy to handle once you know the economical places to eat and stay in. Proof of ��means of support’ per month: At least $390 (Php 17,200+) For more information: See ‘Studying in Italy‘ TIP: For ‘means of support’, it’s always best to add more to the minimum requirement. It also helps to add a sponsor (even if it’s just on paper) even if you already can support yourself — this is what I’ve done when I applied for a university in Belgium; it’s always best to ‘overdeliver’.

Moreover, if you’re from the Philippines or Asia like me, before you can study overseas for a business or graduate school, check if you need to have a GMAT or GRE certification since most of our universities are not ‘recognized’ abroad. (GRE is said to be the easiest, which I have done. Others reviewed for months on this, but I only reviewed for a day since I was in a rush; and yet I was fine! But surely, I don’t advise that you do the same). Also, if your studies were not conducted in English, a majority of the European schools would need a TOEFL or IELTS from you. #2 – Work

There are different ways to do ‘work’, some are conventional but some are unique. Check out the list below to see what best fits you:

NORMAL WORK This is where you go through the usual process of finding a company (in the form of a transfer, internship, part-time, or full-time work) and then applying for a work visa. For more information: See EuroJobs or Europa TEACH ENGLISH This is not the same as those ‘jobs on the road’ where you hold private English classes to people who don’t have it as a first language. Why? Because doing so is a risk. A short-term tourist Schengen Visa is NOT a work permit. Working can still be done in ‘secret’ though (with Spain & Italy as the most tolerant) but if you somehow attract the attention of authorities, it can get nasty. So if you really want to teach legally, secure a work visa or working holiday visa first (that will make you stay longer too) by searching for opportunities in recognized schools or institutions. (Teaching English while under a student visa is possible as well). Countries that are typically open to English-teaching jobs are Czech Republic, France, Hungary, Germany, Spain, and Italy. For these jobs, a TEFL certificate is a usual requirement. For more information: See TEFL or ESLCafe LANGUAGE ASSISTANT PROGRAM Often run by governments, it gives non-EU citizens a chance to stay in the Schengen countries or area longer in exchange for offering aid in teaching the English language (they even pay you for the services you’re doing). There are only few European countries that offer this kind of program and below are their basic requirements:

France: must come from one of their 60 partner countries, age 20-30, have basic level of French, completed at least 2 years of university (http://www.ciep.fr/en/assistantetr/)

Italy: must be a resident of the USA, have Italian proficiency, a university graduate or undergraduate, 3.25 GPA (http://siteprogram.pacioli.net/)

Spain: must be a resident of USA/Canada/New Zealand/Australia/China/EU, have basic level of Spanish, a university graduate or in last year of university (https://www.mecd.gob.es/)

Switzerland: must be a resident of USA/Canada/Great Britain/Ireland/Austria/France/Italy/or Spain, age 21-30, have sound language knowledge of the region (can be German/French/Italian), a university student or graduate (http://www.ch-go.ch/)

For openings in other countries, check by: www.europelanguagejobs.com AU PAIR JOB Usually done for at least 6 months or more, working as an au pair is like being a domestic assistant as you live with a host family that provides free accommodation and food. Other than providing childcare, you are also typically asked to do light housework as you receive a salary for it. For more information: See IAPA, Great Au Pair, or Europa Au Pair WORKING HOLIDAY If you are 25 to 31 and a citizen of Australia, Canada, and New Zealand, you are eligible to get a working holiday visa, granting you to stay, work, or find work in the Schengen Area for one to two years . For more information: See Work Holiday Visas SELF-EMPLOYMENT If you’re a freelancer, Germany’s self-employment visa is your solution. This is not the kind of visa that makes you move your ‘company’ to Germany, but a visa for being an artist, writer, digital nomad, accountant, etc. Application for this type of visa can be done while you’re in Germany and it can be approved in a week provided that you have fulfilled the necessary requirements. If however, your tourist visa is close to expiring upon application, they will give you a temporary 3-month visa as they process your request (some people take this course of action since even if they don’t get approved, they have already managed to extend their stay). For more information: See Berlin.de or this Get a Residence in Germany as an American UPDATE: Some other EU countries seemingly also provide self-employment visas like Italy, Czech Republic, France, Hungary, and Netherlands. However, I can’t find official links available to direct you to; so it’s up to you to look more into it. But basically, if you have a specific member state in mind that you really want to go to, simply ask the embassy if they can accommodate self-employment visa applications like this. VOLUNTEER Much like the English-teaching jobs, there are volunteer jobs as well that are ‘under-the-table’ — apart from being risky, those won’t enable you to stay longer in Europe. Examples are fruit-picking jobs, hostel work, etc. (this is why most of the time their websites advise that you don’t mention to immigration officers that you are going to work in a farm, for example). Therefore, to be able to remain or to be able to become a volunteer for a longer period of time, you would have to either get a work visa/permit, or sign up for accredited volunteer programs that could whip out a work visa for you. Unfortunately, these often come with a fee; but some can be very affordable. For more information: See Europa or European Voluntary Service CULTURAL HOMESTAY This is not like the informal homestay set-ups that I have discussed in this article: [Cultural Homestay Internationa (CHI) World Explorers Program #3 – Reunion or Union

The items below are common solutions and have no ‘special’ tricks or tips but they remain to be conventional ways of obtaining a longer visa in the Schengen Area:

FAMILY REUNION Applicable if you have close kinship ties to a Schengen citizen or permanent resident. MARRIAGE / FIANCÉ Self-explanatory. If you have fallen in love with a European from any of the Schengen countries this is the way to go! COHABITATION If you’re not the ‘marrying’ type, you can choose to go for a live-in visa with your boyfriend/girlfriend who is a resident/citizen of one of the Schengen countries. Customarily, applications like this become successful if you can prove that you’re in a relationship for at least 2 years or have lived in together for at least 1 year. HOME STAYS There are some European families that are willing to take a foreigner in as a part of their household for a long period of time. This can usually be a part of a student’s schooling experience or as a part of an organization for cultural or language immersion (like of the previous section) who would often need a fee from you.

#4 – Citizenship

This (citizenship) is more of an option for those who are really focused on staying in the Schengen Area indefinitely. Obtaining this can be done through different ways:

MARRIAGE With a European in the Schengen Area. On average, it takes 3 years; some can only take a year. ‘PURCHASE’ / INVESTMENTS For the insanely rich people, they can obtain an EU citizenship through investments or purchase of property (or even purchase of citizenship). Examples of these countries are Austria, Hungary, Lithuania, Malta, and Slovakia (price to pay can start at $320,000+ to millions!). There are also Schengen member states like Netherlands and France that can offer residency permits for a limited period of time, in exchange for payments or investments at a minimum of $300,000+. ANCESTRY / NATURALIZATION I call this the ‘Waiting Game‘. If you are able to obtain a long-term visa that will enable you to stay in a Schengen member state for 5 to 10 years, then your citizenship is ostensibly secured. On the other hand, if you can inspect your family tree and discover that you have ancestors who are citizens or have become residents in EU countries in the past, your years of ‘waiting’ can be shortened! Examples of these are:

Ireland: This is NOT a Schengen member state, but since Irish citizens are allowed to enter Europe without limits, acquiring citizenship through Ireland would be a good step and you can achieve this if you have an Irish parent or grandparent. Your citizenship immediately becomes effective upon registration.

Germany: The country freely provides citizenship to children and grandchildren of former Germans who were deprived of their citizenship status between January 30, 1933 and May , 1945 on racial, political, or ethnic grounds.

Italy: Once proven that you have Italian ancestors, you can become a citizen by naturalization if you find a way to remain in the country for at least 3 years (it seems long, but better than the norm of 10 years).

★ Spain: Like Italy, 10 years is also the usual length required to become a Spanish citizen; but, it can be shortened to 2 years if your country is a former colony of Spain: these are Latin American countries, Sephardic origins, Andorra, Equatorial Guinea, Portugal, and the Source: Spanish Naturalization

*As with most cases of naturalization, countries would commonly require that you have basic knowledge of their language, history, and geography before fully processing your citizenship. Also, you must stay there legally; for example, staying for 2 years in Spain without legal papers does not qualify you for the naturalization.

#5 – Long-Term Tourist Visa

A big part of the Schengen Area’s member states do NOT allow long-term tourist visas, except for a few which could grant you a Type D visa (maximum 1 year) with the condition that you will NOT work. These countries are:

FRANCE As long as you have a solid reason and that you have enough money for the duration of your stay (said to be at minimum $3,000 per month or Php 132,000), you can be granted a long-term visitor visa that can last to only a year (but can be subject to a renewal depending on your reason for wanting to stay longer, your financial means to prove that you’re not going to need to work, etc.) Take note that this type of visa would allow you to take residency in France ONLY starting from the 4th month of your stay (you can still tour the rest of the Schengen countries from the 1st to 3rd months). Anyhow, in a sense, you can still travel around after the 4th month because there are no border checks on land; but again, that’s a huge risk and it’s illegal. If you get caught, well… you know what could happen and it’s not gonna be good. For more information: See France Consulate or ask your local French embassy for more details SWEDEN If you have special grounds or reasons, Sweden is willing to give out a long-stay tourist visa but be warned that the process can take up to months. It’s said that most of the people who are successful with this are those who have family or relatives in Sweden though, but it’s still worth a try if you’re willing to go through the processing time. For more information: See Swedish Migration or consult your local Swedish embassy for more details SPAIN There is a type of tourist residence visa in Spain called as “non-lucrative” geared towards retired or rich persons who can stay for 1 year in the country for as long as they can provide proof that they don’t need to acquire work in Spain, that they are not carrying out any economic activity in Spain, and/or that their clients are not based in Spain mainly — so basically, that they generate their income outside of Spain. One important proof they need is for you to show that you have monthly income of at least 2,130 EUR. For more information: See Spain Embassy or consult your local Swedish embassy for more details

I have found articles that mention Italy and Portugal as additional countries that can provide long-stay tourist visas; however, I cannot find information in any embassy website. Nonetheless, you can always try your chances and ask your local embassy for more information.

#6 – In-and-Out Hop

I have already listed out the 26 member states of the Schengen Area at the top of this article — keep these in mind very well, and once you do, plan a ‘EuroTrip’ that will make make you hop in and out of Schengen countries while managing to technically still remain within the European territory.

What do I mean by this? You can tour around different Schengen member states like France, Spain, or Germany and by the time you hit your 90-day limit, go and hop over to a non-Schengen European country like Croatia, UK, Macedonia, or Turkey to wait until you hit the 11st day so that you can come back to the Schengen Area again.

Just find the right mix for this, save up, plan it well, and you can definitely manage to stay for a very long time in Europe.

» READ: Money Saving Tips to Come Up With a Travel Fund and Change in the Calculation of ‘Short Stay’ in the Schengen Area

NOTE: Take note that this set-up works best for those who hold passports that have the privilege of entering the European zone visa-free. Unfortunately, this could be a bit tricky for those who would typically need a visa to enter any European country since most visa applications have to be done in your home country… and to the best of my knowledge, it’s customarily not allowed to apply for 2 or more similar short-term visas in one appointment. (Correct me if I’m wrong). What you can do though is to get a Schengen Tourist Visa for 90 days (3 months) and then get another 10 days (6 months) tourist visa for UK, and some other European countries and that would technically enable you to stay in the European area for a loooong time. (Best to get multiple entry visas too so that, for example, you can go in and out of UK to France as many times as you want).

TIP: Let’s say your visa is soon ending and you want to apply for another visa for a different country without going back to your home country (like heck, just think of the flight costs!). In most cases, this is NOT allowed unless you can properly justify why you’re unable to do it in your home country. I know of some travelers who have used the reason of “I’m traveling long term, that’s why” and have ended up as successful in their appeal. However, it’s still important for you to know that it’s customarily a tough case and that it might even involve a lot of pleading. But then again… there’s no harm in trying, right?

Overall, if you want to do use this method of ‘hopping’ around, just please remember to:

Be informed. Take note of the non-Schengen countries’ policies with regard to the number of days that you are allowed to stay in their domain (this is in connection with your passport/nationality).

Do your own research. Be updated. Remember that there are candidates for the Schengen Area at the time that I make this post, so it’s possible that Bulgaria (for instance) would suddenly become a Schengen member state in the future; so, hopping over to this place won’t be a solution after your 90 days limit.

#7 – Visa Extensions

This is a very delicate subject because almost all Schengen countries do NOT tolerate extensions once you get into the area with a short-term (less than 90 days) tourist visa. Be that as it may, the good news is: it’s still and always possible if you’re resourceful and creative enough. (Extensions for long-term visas for studies, work, etc. are a different matter altogether).

If you’re rather one of the nationals who are allowed to come into Schengen countries with just a passport, be mindful that it can prove more difficult, because you technically don’t have a visa on hand to apply an extension for — sure, there are chances that you can apply and obtain a visa without a need to go back to your home country; however, I seldom hear of situations that are successful in doing this. (You can try and do your research though since some embassies might be able to accommodate such requests depending on your nationality and situation).

Now the typical grounds that can grant you an easy extension can be cases of:

Force majuere – unforeseen circumstances that are not under your control (i.e. bad weather conditions, airline strikes, etc.); this is the only situation that does not require fees for extension

Humanitarian reasons – if you have fallen ill or a close family member has fallen ill or died

Serious personal reasons

These can allow you to stay for more days either in the whole of the Schengen Area (very rare case) or just inside the country that you are in (that you chose, that is your point of entry or the place you’ve stayed the longest — it’s a case by case basis but this is what mostly happens when you are granted an extension: you’re only allowed to stay in the country that you applied for).

But of course, you wouldn’t want to fall ill nor would you want a family member to die just so you can extend your visa, right? So what other options do you have?

Luckily, there seems to be some Schengen countries that are quite lenient with extensions and the ones that I know of are:

PORTUGAL Apparently, they can offer up to two extensions, for as long as you can support yourself and provide the necessary documents. (It’s said to be best done in Lisbon). For more information: See Immigration SWEDEN I’ve heard a lot of successful stories from friends who have managed to extend their visa on Sweden, but it’s important to note that most of them were able to do so because they had a Swedish friend, family, or ‘special someone’ to back them up. I guess it’s a way of ensuring a Migration Board that you have a local who can support you (even if it’s just on paper). For more information: See Migrationsverket France; however, I couldn’t find any reliable source online for this; still and the same, it’s worth looking into – let me know if this is indeed possible.

» Other Possibilities due to Bilateral Agreements with…

US Citizens I have found some forums online saying that U.S. citizens can stay for 90 days in Poland, leave for one day, and come back to have another 90-day stay. This is said to be possible because of some sort of bilateral agreement or declaration between the U.S. and Poland. I’ve certainly read of accounts that said that they were successful in doing so and have had Polish officials confirming this set-up. However, I advice that you check with them yourself since I can’t find a reliable online source. Make it a point to verify if this is true since it goes beyond the Schengen rules; it’s even possible that the extension will only allow you to stay in Poland only and not in the rest of Schengen.

Australian Citizens Australia has bilateral agreements with Denmark and Germany which overrides the Schengen conditions. They can stay up to 3 months or 90 days in each of these two countries. In theory, Australians can stay indefinitely by going back and forth between Germany and Denmark every 90 days. Of course, the restriction of no more than 90 days in any 10 day period in the Schengen area will come into play if they venture out to other member states. SOURCE: Visa exemptions for Australians

I have not done an extensive research on ALL non-EU nationalities, so I hope you take the action to recheck your rights and benefits in Schengen since your home country might have these same bilateral agreements that will allow you to stay longer in Europe.

Now, if I may add, I have also discovered several ‘success extension stories’ in other Schengen countries using the methods below which are both worth a shot. But again, be aware that some countries may accept this while some others may not:

Register as legal partners – if you have a significant other who is a national of one of the Schengen countries, it’s possible to come into the country with a tourist visa and then immediately jumpstart a live-in or cohabitation agreement (NOT marriage) to be able to remain in the country longer even after the expiry of your tourist visa. Customarily, applications like this only become successful if you can prove that you’re in a relationship for at least 2 years or have lived in together for at least 1 year. (Countries that I know of who can take on these kinds of applications are Belgium and the Netherlands.)

Partner with an NGO or Tourism Board – if you can find an NGO, tourism board, or organization that can vouch for you, it’s possible to gain an easy extension. Some travel bloggers have been able to use this method as they offer their skills of writing or blog ‘reach’ to the appropriate institutions. This is definitely worth your while, especially if a certain migration office is open to other types of visa applications (i.e. I’ve read an account of someone that’s able to do this in Romania; even if it’s not part of the Schengen Area yet, some legit member states can conceivably acknowledge this circumstance).

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Overall

I hope this guide helped shed some light into the 90-day limit rule in the Schengen countries; plus, I certainly hope that in one way or another, I helped give you an idea on how you can prolong your European journey without breaking the law!

Should you ever have any other tips in mind that should be included in this guide, please feel free to leave a comment below. (And if there are any corrections, do kindly let me know of that too).

Before I end this post, I leave you with the following general reminders:

Do your own research. I cannot stress this enough. Take my advice with a grain of salt. Besides, the information that I post here is based on my own findings and experiences as of February 2015, so it’s your responsibility to ensure that the facts that I have here are still up-to-date or true at the time that you are reading this article. I say this because I certainly don’t want you to waste your money or time when you suddenly find out that certain conditions are changed, eradicated, etc.

Check migration rules. Be well-informed of the rules that apply to you depending on your nationality or passport. Know your limits and your benefits. Speaking of passport, always ensure that it is NOT expiring anytime soon.

Ultimately, I hope that this whole piece can also be a way for you to connect to others who have had successful experiences of staying longer in Europe; therefore, do feel free to post your questions in the comments section below. However, like I said, be reminded that I am NOT an embassy officer nor a migration agent. Any queries relating to such things should be directed to your local embassy or migration board, and NOT to me. Thank you and good luck!

How about you?

Do you have other tips to share that I can add to this guide for Schengen countries?

Do you have any experience in one of the solutions/ways listed above? How did it go?

Did you like this article? Follow me on Facebook, Twitter, Instagram, or YouTube and be notified about my newest posts and updates!

The post Ultimate Guide: How to Legally Stay Longer in Europe (Schengen Countries) appeared first on I am Aileen.

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ronnykblair · 6 years

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Investment Banking in Latin America: Never-Ending Internships or Never-Ending Bonuses?

Should you go straight to the source?

In other words, if you cover emerging markets such as Latin America or Africa, is it better to be based in those regions, or to work in the nearest financial center, such as New York or London?

You might think it pays to be local, but that’s not always the case.

And the classic example of that is investment banking in Latin America, where being “on the ground” creates some interesting trade-offs – as our reader today found out:

Breaking into Banking: The Never-Ending Internship

Q: Can you tell us your story?

A: Sure! I completed my degree in Latin America, did several internships in valuation and M&A, and won a one-year-long “internship” at a large international bank in a Latin American country.

I won a full-time offer from the internship and have been here ever since.

Q: I know you don’t want to describe your background in detail, so let’s move on.

What is the IB recruiting process like in Latin America?

A: You have to divide the process into “Latin American coverage groups in New York” and “Actual IB teams on the ground in Latin American countries.”

In New York, the process is the same as in any other group: Banks recruit students from target schools. If you’re at one, you apply and win interviews/offers like that, and if you’re not, you go through a huge networking effort to get in.

Many people get hired in the New York coverage team and then transfer to regional offices.

If you start out at a regional office, the process is completely different because banks offer internships of 1.0 – 1.5 years before awarding full-time offers.

I’ve seen people work for 2-3 years before receiving a full-time offer.

Each office of a “large bank” in a place like Lima, Buenos Aires, or Santiago might have only ~10 people and might hire only one person every two years.

The exceptions are Brazil and Mexico, which have bigger offices, more openings, and real product and industry groups.

Q: OK. And I assume you have to be at the top university in each country to have a chance?

A: Banks tend to recruit from the top 1-3 universities in each country.

So, in Brazil, they recruit from schools like Insper, Fundação Getúlio Vargas (FGV), University of São Paulo (USP), and several others since it’s the biggest country.

They recruit from Pontificia in Peru, and in Chile, they recruit from Pontificia (different one) and Universidad de Chile. Countries such as Colombia and Argentina follow similar patterns.

As in the U.S. and Europe, most people who get in tend to major in Business, Economics, or Engineering; I’ve rarely seen candidates with History or Literature degrees win offers.

I also haven’t seen many people get in from foreign (U.S., European, or Asian) universities, but plenty of MBAs move back to the region after working abroad for a while.

Q: Somehow, investment banking sounds even more elitist there.

With these extended internships, when do they tell you whether or not you’ll get a full-time offer?

A: If it’s a 10-month internship, they might tell you by Month 4 or 5; the team will review you and say whether or not they’re happy with your performance.

If they’re not happy, the internship will last a few more months, and then you’ll be gone.

If they are happy, you’ll complete the internship and, if nothing goes wrong, receive a full-time offer at the end.

Q: Are there any differences in interviews?

A: Interviews tend to be less technical than they are in the U.S. or Europe, and the technical questions you do receive will be less complex.

Bankers care more about “fit,” including the social circles you’re in, your connections to the country, and your commitment to a long-term future there.

Bulge Brackets vs. Domestic Banks vs. Elite Boutiques in LatAm

Q: What can you tell us about the overall industry there?

Let’s start with the bulge brackets vs. the big Latin American banks, such as BTG Pactual.

A: The bulge-bracket banks tend to work on the largest M&A deals and any deals with non-LatAm buyers/sellers.

Latin American banks focus on IPOs, debt issuances, and regional M&A deals; for example, if a Brazilian company is buying a Colombian company, a Brazilian bank might win that mandate over an international BB bank.

JPM, BAML, CS, MS, and Citi all tend to do well here, with the exact rankings and industry strengths changing from year to year.

The In-Between-a-Banks, such as Santander, HSBC, and BBVA, are strong mostly in ECM and DCM.

Among Latin American banks, the Brazilian ones tend to dominate, with the top three there – BTG Pactual, Itaú, and Bradesco – always ranking well.

The elite boutiques have less of a presence than they do in the U.S. and Europe: Centerview and Perella Weinberg aren’t here at all, Evercore is only in Brazil and Mexico, and Moelis only has a São Paulo office.

The exceptions are Lazard and Rothschild.

Lazard has offices in all the major countries: Argentina, Brazil, Chile, Colombia, Mexico, Panama, and Peru. The offices outside of Mexico and Brazil came from MBA Lazard before it was acquired in full by Lazard.

Rothschild, meanwhile, often ranks well in the M&A league tables because it advises many European companies buying assets here.

Then, there are dozens or hundreds of regional boutiques, so I won’t even attempt to name them all.

A few well-known ones include BR Partners (Brazil), Inverlink (Colombia), and VACE Partners (Mexico).

Q: Thanks for that information dump!

If each country is so small, why do banks even use local teams?

A: Because bankers outside of Mexico and Brazil all cover multiple countries.

For example, a banker in Panama might also cover the rest of Central America, and someone in Chile might also cover Argentina and Peru.

Also, many of the product MDs for groups like M&A, ECM, and DCM at large banks are based in NY and travel to the countries here frequently.

Q: OK. What about the most common deal types and industries?

A: Deals tend to be much smaller, with the possible exception of Brazil.

A $1-2 billion USD deal is “normal” in the U.S., but it would be huge here.

Many deals range from $20 million to $50 million USD in size, with occasional deals over $100 million (depending on the country).

Most of the economies in Latin America are commodities-driven, so natural resources, infrastructure, and power deals are very common.

Many countries still lack basic infrastructure, so private equity firms have been popping up to do infrastructure deals (though the deals can be hard to find and close).

Banks often win or lose mandates via Project Finance work, so European and Asian banks have an advantage there.

There’s a lot of deal flow in consumer/retail, but less in consolidated industries such as telecom (There are just 2-3 major players in many countries, which leaves little room for M&A).

Real estate is a developing segment, and we’ve seen more movement in RE deals over time.

While REITs have existed in the U.S., Europe, Australia, and other developed countries for a long time, they are relatively new here.

The “FIBRA” (Fideicomiso de inversión en bienes raíces) offers a similar structure in Mexico, and REITs will become more widespread in the other countries here in the long term.

New York, New York… or Latin America?

Q: Thanks for all that information.

Based on what you know of Latin America and developed countries, where would you recommend working?

A: I think it’s better to be in New York if you want to advise on Latin American deals because there are more exit opportunities, and you gain more exposure to various Latin American markets rather than the localized approach in the regions.

Also, investment banking in NY is less “prestigious” than it once was, and banks face serious competition from hedge funds, private equity firms, and even technology companies like Google and Facebook.

The top performers have many options, so banks have less bargaining power.

But in Latin America, there are few real hedge funds, and there are relatively few PE firms (except for Brazil/Mexico), so investment banking is still an appealing long-term career.

As a result, banks have more power and the rules may be slightly more stringent than in developed countries.

Q: I see. So, exits into private equity are not that common?

A: They’re pretty rare except for Brazil and Mexico, where the private equity industry is more developed.

But there are fewer PE firms in the smaller countries here, and you might also take a significant pay cut if you move from banking into private equity.

To give you an idea, you might earn 40-50% less at a domestic PE fund in some cases.

The same applies if you go into corporate finance or corporate development.

As a result, bankers in smaller countries tend to stay in banking or move to the U.S., Europe, Brazil, or Mexico to gain more opportunities.

Q: Thanks for that explanation, and for your time. I learned a lot!

A: My pleasure.

The post Investment Banking in Latin America: Never-Ending Internships or Never-Ending Bonuses? appeared first on Mergers & Inquisitions.

from ronnykblair digest https://www.mergersandinquisitions.com/investment-banking-latin-america/

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