UK Spouse Visa Financial Requirements (£62,500 Cash Savings)

To use cash savings to meet the financial requirement for a UK spouse visa, the cash savings of £62,500 must have been held in a regulated financial institution.

You must provide evidence that the cash savings have been held in a financial institution for a continuous period of at least six months. The savings account must be in the name of the sponsoring partner, the applicant, or both jointly. If the savings are held jointly, each partner must have an equal share of the savings.

The bank statements provided as evidence must cover the entire six-month period and show the account details, the current balance, and the length of time the account has been open. The statements should also show the source of the funds, such as salary or inheritance, to demonstrate that the savings have been acquired legally.

Table of Contents

• UK Spouse Visa Financial Requirements (£62,500 Cash Savings)
• What are the financial requirements for a UK spouse visa?
• Meeting the financial requirement through cash savings
• What documents are required to meet financial requirements using cash savings of £62,500?
• Does the cash have to be in the UK?
• How long must cash savings be held?
• Frequently asked questions (FAQs)
• Need legal advice or help from an immigration lawyer?

What are the financial requirements for a UK spouse visa?

You and your partner must meet the financial requirement, which is currently set at a minimum income of £18,600 per year. If you have children, the financial requirement may be higher.

There are several ways to meet the financial requirements for a UK spouse visa. Here are the main options:

• Employment income
• Self-employment income
• Non-employment income
• Cash savings

Employment income

If the sponsoring partner is employed in the UK, they must earn a minimum amount, which is currently £18,600 per year before tax. If the sponsoring partner has been employed for less than six months, they may be able to meet the requirement by using an average of their earnings over a longer period.

Self-employment income

If the sponsoring partner is self-employed in the UK, they must demonstrate that they have been self-employed for at least 12 months and that their income meets the minimum threshold. They will need to provide evidence of their income, such as tax returns or business accounts.

Non-employment income

If the sponsoring partner has income from sources such as rental properties, investments, or pensions, this income may be taken into account when assessing whether they meet the financial requirement.

Cash savings

If the sponsoring partner cannot meet the financial requirement through income alone, they may be able to use cash savings to meet the requirement. The minimum savings amount required is £62,500. The savings must be held in a regulated financial institution for at least six months prior to the application.

Meeting the financial requirement through cash savings

To meet the financial requirement for a UK spouse visa using cash savings, you will need to have at least £62,500 in savings that have been held in a regulated financial institution for at least six months prior to the application.

If you are planning to use cash savings to meet the financial requirement for a UK spouse visa, there are several things you should keep in mind:

• Minimum savings amount: The minimum savings amount required is £62,500. This is in addition to any income that the sponsoring partner earns.
• Length of savings: You must have held the savings for at least six months prior to the date of application. This means that you will need to provide evidence of your savings account statements for the past six months.
• Type of savings: The savings must be in cash and held in a financial institution that is regulated by the financial regulatory body in the country where the institution is located. You cannot use assets such as property, stocks, or shares to meet the financial requirement.
• Joint savings: If the savings are held jointly by you and your sponsoring partner, both parties can use them to meet the requirement. However, the applicant must provide written consent to the use of the savings, and evidence must be provided to show that the savings have been held jointly for at least six months.
• Evidence of source of savings: You will need to provide evidence of the source of the savings, such as bank statements or investment statements, to show that they were obtained legally.
• Additional requirements: There may be additional requirements or conditions that you need to meet to use savings to meet the financial requirement, such as having a certain level of disposable income.

It's important to note that using savings to meet the financial requirement for a UK spouse visa can be complex, and it's a good idea to seek professional advice to ensure that you meet all the necessary criteria.

What documents are required to meet financial requirements using cash savings of £62,500?

If you are using cash savings of £62,500 to meet the financial requirement for a UK spouse visa, you will need to provide documentary evidence to prove that you meet the requirements. Here are some of the documents you may need to provide:

• Savings account statements
• Bank letter
• Source of savings
• Proof of ownership
• Joint savings
• Other financial information

Savings account statements

You will need to provide savings account statements for the past six months to show that you have held the required savings amount for at least six months.

Bank letter

You may need to provide a bank letter from the financial institution where your savings are held. This letter should confirm the account details, the current balance, and the length of time the account has been open.

Source of savings

You will need to provide evidence of the source of the savings, such as payslips, tax returns, or inheritance documents. This is to show that the savings were obtained legally.

Proof of ownership

You may need to provide proof that the savings are in your name or in the name of your sponsoring partner, such as a bank statement or account opening documents.

Joint savings

If the savings are held jointly with your sponsoring partner, you will need to provide evidence that the savings have been held jointly for at least six months, such as a joint account statement or a letter from the financial institution.

Other financial information

You may also need to provide additional financial information, such as evidence of any outstanding loans or debts, to demonstrate that you can support yourself and your partner in the UK.

It's important to note that the exact documentary evidence required may vary depending on your individual circumstances. It's a good idea to seek professional advice to ensure that you provide all the necessary documentation to meet the financial requirement for a UK spouse visa.

Does the cash have to be in the UK?

No, the cash savings for a UK spouse visa do not have to be held in the UK. However, the savings must be held in a financial institution that is regulated by the financial regulatory body in the country where the institution is located. This means that you can hold the savings in a bank account in your home country or in any other country, as long as the institution is regulated and meets the requirements set out by the UK government.

You will need to provide evidence of the cash savings held in the financial institution, such as bank statements for the past six months. The statements should show the account details, the current balance, and the length of time the account has been open.

How long must cash savings be held?

The cash savings of £62,500 must have been held in a regulated financial institution for at least six months prior to the application.

Frequently asked questions (FAQs)

Here are some commonly asked questions about UK Spouse visa: