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  • ILR Savings Amount

    Hi all,

    Unfortunately I was made redundant just before Covid hit and I am still struggling to find employment (I was a GM in hospitality). My wife's final leg of her visa journey (ILR) is due in September 2021. Ideally I will find employment before February but with the current situation that is not a given. Therefore I am looking at fulfilling the financial requirements through savings. I have seen a few different variations on the savings required for the ILR so I was hoping to get some clarity.

    If anyone can help that would be great.

    Thanks

    Steve

  • #2
    Hello Steve

    The savings must satisfy each of these conditions (page 46 of Appendix FM 1.7):

    • the bank/savings account is a current, deposit or investment account
    • the account is held is a financial institution regulated by the appropriate regulatory body for the country in which that institution is operating
    • the financial institution is not on the list of excluded institutions under the Immigration Rules
    • regular bank statements are provided
    • the statements cover the necessary time period required in the Immigration Rules
    • the savings are held in cash (or their cash value is clear)
    • the savings can be immediately withdrawn (with or without penalty)
    • the funds are under the control of the person and/or their partner for the necessary time period required in the Immigration Rules
    • the source of the funds is legal
    • the source of the funds has been declared

    See section 11 of Appendix FM -SE Specified Evidence for further detail including of evidencing the necessary savings holding time period.

    You may find this table (page 44 Appendix FM 1.7) useful. For ILR, your savings minus £16,000 must be equal to or greater than £18,600 to meet the minimum income requirement in full. Your savings need to be at least £34,600 to do this (£16,000 + £18,600). As you can see, the rules are less onerous for ILR than for your previous FLR application.
    Attached Files
    "I can calculate the movement of the stars, but not the madness of men" Sir Isaac Newton

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    • #3
      Thank you, thats hugely helpful.

      Luckily the fact the savings amount is less means I should be able to get that together.

      Fingers crossed I can find work though!

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