SET M ILR cash savings

[bathanza]

Hello all

The time will come in about 16 months where we will apply for SET M.

Life in the UK passed
B1 passed
Plentiful of correspondence docs etc I'm pretty good organising.

Spanner in the works. I've been made redundant from my role and I was the main sponsor with a salary of 18k+

Spouse is a director of a company and takes income and dividends. Of course I have read the requirements to submit documents IF we rely on this source but I feel it's very complicated and over the top to submit company accounts.

Looking at the cash savings route I think we would be better off doing this as it's only 18.5+16k (someone confirm this)

I've spent some time reviewing the requirements and it does say a letter confirming source of income would be needed.

I could either dump my entire settlement figure into our joint account and add to it over the next year or just deposit/transfer whatever we have in a savings account Jan 24. This would show as a transfer from one account to another.

I'm a LITTLE confused - is a LTD company income/dividends allowed as part of this savings route? Therefore would this need to be proven at all?

I really do not want to complicate the application but I can simply just utilise my current employment money + settlement and leave it alone OR my spouse and I can transfer from earnings from income from ltd dividends and my previous employment.

(AM I overthinking )

[zimba]

You need to show at least an annual income of £18,600 to be granted ILR. To use your cash savings, you need an extra £16,000 on top of that. If you do not want to show any income and want to rely fully on your cash savings, you need minimum cash savings of £16,000 + £18,600 = £34,600, held in the bank for at least six months before applying. You do not need anything else if you have this amount of cash held

FYI
To apply as a director or employee of the specified company you need to apply using category F or G.
Guide: https://assets.publishing.service.gov.u ... rement.pdf

[bathanza]

You need to show at least an annual income of £18,600 to be granted ILR. To use your cash savings, you need an extra £16,000 on top of that. If you do not want to show any income and want to rely fully on your cash savings, you need minimum cash savings of £16,000 + £18,600 = £34,600, held in the bank for at least six months before applying. You do not need anything else if you have this amount of cash held

FYI
To apply as a director or employee of the specified company you need to apply using category F or G.
Guide: https://assets.publishing.service.gov.u ... rement.pdf

Thanks Zimba.

The cash savings route is certainly a doable - do we need to supply ANY evidence as to where the funds came from? I'll ensure there's at least £40k in my savings account to simplify, that is my main income savings account. Thanks

[zimba]

Just a letter that you write yourself. read the guide

[AmazonianX]

You need to show at least an annual income of £18,600 to be granted ILR. To use your cash savings, you need an extra £16,000 on top of that. If you do not want to show any income and want to rely fully on your cash savings, you need minimum cash savings of £16,000 + £18,600 = £34,600, held in the bank for at least six months before applying. You do not need anything else if you have this amount of cash held

FYI
To apply as a director or employee of the specified company you need to apply using category F or G.
Guide: https://assets.publishing.service.gov.u ... rement.pdf

Thanks Zimba.

The cash savings route is certainly a doable - do we need to supply ANY evidence as to where the funds came from? I'll ensure there's at least £40k in my savings account to simplify, that is my main income savings account. Thanks

This will be a simple letter declaring the source of the funds e.g. accrued savings from my employment income over the years.