Meeting the Financial Requirements For Spouse Visa Through Savings
To get a UK spouse visa, you need to show that you can support yourself and your spouse without relying on public funds. Besides showing a certain income level, you can also use savings to meet this requirement. Here’s how you can use your savings to meet the 2024 financial requirements for a UK spouse visa.
What is a UK Spouse Visa?
A UK Spouse Visa lets non-British nationals live and work in the UK with their spouse or partner. After staying in the UK for a certain period, usually continuously, you can apply for Indefinite Leave to Remain (ILR), which gives you permanent resident status.
Basic Requirements for a UK Spouse Visa
To get a UK spouse visa, you need to meet these requirements:
- Proof of Relationship: Provide a marriage certificate or other documents proving your relationship with your UK partner.
- Financial Requirement: Show that you and your spouse can support yourselves financially without public funds, using income, savings, or both.
- English Language: Pass a recognized English language test.
- Accommodation: Show you have a suitable place to live that won’t be overcrowded.
- Tuberculosis (TB) Test: If required, provide a certificate proving you are free from TB.
- No Serious Criminal Record: Ensure you have no significant criminal history or security risks.
Financial Requirement Changes in 2024
Starting April 11, 2024, the minimum income requirement for UK family visas is £29,000. This will increase to £34,500 later in 2024 and £38,700 by early 2025.
New Applications After April 2024: Must meet the £29,000 income requirement.
Applications Before April 2024: Evaluated under the old £18,600 income threshold.
Current Spouse Visa Holders: Continue under the £18,600 threshold for extensions or settlement.
Switching to Spouse Visa: Must meet the £29,000 threshold if switching to the five-year partner route.
Using Savings to Meet Financial Requirements
Savings can help you meet financial requirements if your income is not enough.
Here’s how much you need at different levels:
£29,000 Requirement: Need £88,500 in savings.
£34,500 Requirement: Need £102,250 in savings.
£38,700 Requirement: Need £112,750 in savings.
Rules for Using Savings
According to UK immigration rules:
Savings Account: Must be in a savings or personal account, jointly owned or in the applicant’s or spouse’s name.
Accessibility: Funds must be easily accessible and in a regulated financial institution.
Holding Period: Savings must be held for at least six months before applying.
Source Disclosure: You must explain where the savings came from, and they must be from lawful means, like gifts.
Calculating Savings Needed
The basic formula is:
[{Total Savings Required} = {Annual Income Shortfall} x 2.5) + £16,000 ]
For example:
£29,000 Requirement: Need £88,500 in savings (£29,000 x 2.5 + £16,000).Partial Savings: If you have £25,000 in savings, you need an additional £25,400 from another income source to meet the £29,000 requirement.
Getting Help from Spouse Visa Lawyers
Meeting the financial requirements can be tricky. Claim Time Immigration can help you understand the process and ensure you meet all the necessary criteria. They guide you through the application, making the process easier and increasing your chances of success. Visit their website for more information.
