Financial Minimum Requirement Question

[andrewp]

My wife and I will be moving to London (hopefully), next summer. I am American, and She is British. She will be studying, and I will be the income earner.

I have a question about the financial requirement. I understand that my salary cannot taken into consideration during the visa application process, so my mother has generously put enough money to meet the financial requirement, into our bank account, where we will let it sit for 6 months to get the 6 statements required for my wife not to have any income when we apply.

My question is, does this route typically work? Also, to avoid Tax implications my mother had to add her name to our bank account, so the account has my name, my wife's and my mother's. Any thoughts on if that will have any adverse effects and the statements are reviewed?

Thanks for any suggestions and advice. I have not started the Visa4UK process yet.

[Casa]

The addition of your mother's name to the bank account will disqualify the savings. The funds must be in either joint names (you and your wife) or in single names for you as the applicant or your wife as your sponsor.

The ECO will consider that the savings aren't in your control.

[cosak]

I think you will have to prove the source of savings too if the amount is lodged in lumpsum in one go, it could be a letter from your mother saying that she has given you the money as gift or inheretence etc...

[andrewp]

Wow thanks for the quick replies. We can certainly get my mom's name off of the account before the next statement period.

She'd be happy to write a letter. Could she simply say that she is giving us the money to help start our life out in the UK? I mean the end, the requirement would be met.

As im sure you've assumed we plan on giving her the money right back after we get established with an income in the UK. Would that pose a challenge in the future, that is to say at some point would we have to prove that the money is "still there"?

Thanks again for the quick replies.

[Casa]

Wow thanks for the quick replies. We can certainly get my mom's name off of the account before the next statement period.

She'd be happy to write a letter. Could she simply say that she is giving us the money to help start our life out in the UK? I mean the end, the requirement would be met. Should be fine.

As im sure you've assumed we plan on giving her the money right back after we get established with an income in the UK. Would that pose a challenge in the future, that is to say at some point would we have to prove that the money is "still there"? You will have to meet the same finance level at the 2.5 year FLR(M) extension, either through savings or earnings.

Thanks again for the quick replies.

[andrewp]

Awesome, no reason we can't do the same thing again in 2.5 years. My wife's MSc degree is a 2 year program so the point may be mute, hopefully she is employed by then too.

I would not need to do this again when I apply for PR right? (If we stay that long)

Thank you so much for the replies, and guidance.

[CR001]

The same requirements are required for ILR (PR) including LIUK.

[Casa]

It would also be wise to consider currency fluctuations of £ Stirling against the $ dollar. Any balance of less than £62,500 on the date of application, the savings will be disallowed.

[andrewp]

Good Lord, and I thought Trump was tough on immigration The Brits don't make it easy.

I believe that the amount that we put in has a sufficient buffer for any currency fluctuations. Hopefully by the time that I would potentially apply for PR my wife would be employed meeting the requirement.

Thanks again for all of the advice. I will likely return for more, once I start the actual application itself.

Thanks again and enjoy your weekend everyone.

[Casa]

You won't be applying for ILR (not PR) until you've completed 5 years of residence.

After 2.5 years you'll be required to submit a FLR(M) application for a further 2.5 year extension. You'll need to meet all the same conditions, including minimum finance at each stage on the route to settlement.