The requirements that an applicant must meet in order to obtain a spouse visa are set out in Appendix FM of the Immigration Rules. These rules contain a minimum income requirement of at least £29,000 or a cash savings requirement of at least £88,500 (or a combination of both).
There are numerous methods of meeting the financial requirements. In this article we explore how the financial requirement can be met through cash savings alone.
Meeting the financial requirement through cash savings – transitional arrangements
Whilst the minimum income and cash savings requirements increased in April 2024, transitional arrangements were put in place for those under the partner route before the changes took place.
Those applying to extend their permission, or to settle with the same partner for which they were last granted permission, can continue to meet the previous requirements. This is a minimum income requirement of at least £18,600, or a cash savings requirement of at least £62,500. The child element, which adds £3,800 for the first child, and £2,400 for further additional children, continues to apply. However, the maximum income requirement is capped at £29,000.
If meeting the financial requirement through cash savings alone, a couple will need to demonstrate that they hold savings of at least £62,500 and that such savings have been held for at least six months. The £62,500 requirement reduces to £34,600 where the application is one for settlement.
Meeting the financial requirement through cash savings – post April 2024
For new applications made from April 2024, a couple will need to demonstrate that they hold savings of at least £88,500 and that such savings have been held for at least six months. The £88,500 requirement reduces to £45,000 where the application is one for settlement.
In order for savings to meet the requirements, they must be held in cash in a personal bank or savings account in the name of the applicant or their partner or be held jointly by the couple.
The bank or savings account can be a current, deposit, or investment account providing that the following requirements are met:
- the account is held in a financial institution regulated by the appropriate regulatory body for the country in which the institution is operating;
- the financial institution is not on a list of excluded institutions set out within the Immigration Rules;
- regular bank statements are provided;
- the funds have been held for the necessary time period and the statements cover the whole period in question;
- the savings are held in cash, or their cash value is clear;
- the savings can be withdrawn immediately;
- the source of the funds is legal;
- the source of the funds has been declared.
Documentary evidence
The documentary evidence required in relation to demonstrating cash savings is minimal. However, applicants should take care to ensure that the evidence provided meets the requirements as set out within the Immigration Rules.
The following evidence of finances is required when relying on cash savings in order to meet the financial requirement:
- personal bank statements showing that the cash savings relied upon have been held in a suitable account for the six months prior to submitting the application;
- a declaration from the account holder in relation to the source of funds.
How our immigration solicitors can assist
The above is just one of the methods by which an applicant can meet the spouse visa financial requirements with all of the options being covered in Appendix FM of the Immigration Rules.
If you require legal advice regarding this or any other aspect of a UK spouse visa application, our immigration specialists are always happy to have an initial discussion, please contact us or complete our enquiry form below.
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This article was originally published in January 2022 and has been updated. It is accurate as of the new date of publication shown.
