ILR Savings Amount

[SteveHarris]

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

[Tom & Nok]

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• the savings can be immediately withdrawn (with or without penalty)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.

[SteveHarris]

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!