Dear RAW,
Thank you for your email.
The Immigration Rules allow an extension of stay as a Tier 1 (General) - highly skilled worker to be granted for a period 'not exceeding three years'. However, in light of the changes to the Immigration Rules which came into effect on 3 April 2006, which increased the qualifying period for settlement from four to five years, applicants may be granted a four year extension.
Therefore the extension periods are as follows:
Successful Tier 1 (General) extension applications for Highly Skilled Migrant Programme (HSMP) holders where initial leave was granted for either, two years, or one year with a 3 year extension, will be granted for a further three years.
For Tier 1 (General) – highly skilled worker extension applications where initial leave was granted for three years, successful Tier 1 (General) extension applications with be granted for a further two years.
Are assets or shares acceptable as evidence for Maintenance (Funds)?
No, the funds must be available in the form of cash savings.
Are agreed overdraft facilities acceptable as evidence for Maintenance (Funds)?
No, applicants must actually have the funds in their account. The balance of the account must always be at least £800 in the 3 month period immediately preceding the application.
Are Trust Funds acceptable as evidence of Maintenance (Funds)?
Yes, Trust Funds will be considered where the applicant is able to provide satisfactory evidence as specified in the Tier 1 (General) policy guidance.
Will funds held in a joint bank account be accepted as evidence of Maintenance (Funds)?
Yes, funds held in a joint bank account are acceptable as evidence of funds providing the applicant is able to supply satisfactory evidence as specified in the Tier 1 (General) policy guidance.
Will funds held in a bank account overseas be accepted as evidence of Maintenance (Funds)?
Yes, funds held in a bank account overseas will be considered as evidence of funds providing the applicant is able to supply satisfactory evidence as specified in the Tier 1 (General) policy guidance. Where the funds held in the overseas account are demonstrated in foreign currency then Assessing officers will convert the amount to pounds sterling using the closing spot rate which appears on
www.oanda.com based on the date of the bank statement.
How many pieces of evidence should applicants provide to demonstrate they meet the Maintenance (Funds) requirement?
Applicants should ensure that they provide evidence that covers the total amount of funds required, over the entire 3 month period immediately preceding their application. This may take the form of a single specified document covering the full amount of funds for the 3 month period. Alternatively a combination of specified documents are also acceptable provided that together they cover the full amount of funds for the 3 month period required.
Is there any concession for students with regards the maintenance funds?
No.
Can ISAs be used for maintenance funds?
Yes but they must be FSA regulated.
Can loans be used?
No.
Yours sincerely
Ian Chestnut
Customer Service Advisor
Work Permits
Border and Immigration Agency
Home Office
P.O Box 3468
Sheffield
S3 8WA
Tel: 0114 207 4074
Fax: 0114 207 4000
.