Financial requirement for spouse outside UK

Dear members,
I have some query regarding the spouse financial requirement if anybody with the best knowledge please leave me a reply.

If you want to bring your spouse you must meet financial requirement which is £18,600 this could be cash saving or your earning.

1- one of my friend told me that your closing balance for the last 6 statements should not be consistent for 6 months £18,600.

Which I believe he is wrong about it, I think you must have bank statements for past 6 month each month has closing balance £18,600?

Or you can have like for 5 months your balance was £12,000 and your 6th statement closing balance should be 18,600?

6 months statement each month has £18,600? Balance?
Or
6 months statements each month could be any amount like £12,000? Or £16,000? But your last statement which will be 6th statement closing balance must be £18,600?

A llittle bit confusion going on of anyone with the best knowledge please leave a reply thanks.

You can apply on the basis of saving, income or a combination of both.

For savings, you need £62,500 held in liquid funds for six months.

For income you need to have earned £18,600 pa for the previous six months.

For the combination route the first £16,000 of savings are discounted.

So to summarise you need to be earning or have a huge amount of savings!

Hi, thanks for the reply
I just didn't get that you mean to say I am going to apply for my spouse I must have saving held in my account £62,500?

Because I am the director of my company but I have some savings in my account but it's not that huge saving and what do you mean by £16,000 of saving discounted?

Really appreciate your reply


quote="Wanderer"]You can apply on the basis of saving, income or a combination of both.

For savings, you need £62,500 held in liquid funds for six months.

For income you need to have earned £18,600 pa for the previous six months.

For the combination route the first £16,000 of savings are discounted.

So to summarise you need to be earning or have a huge amount of savings![/quote]

there are 2 ways to satisfy the financial requirement.

1 is by saving. For this it does not matter if you are working or not.. u need £62.5k for 6 months.

Second way is working. U need to be earning over £18600 a year for at least 6 months and should have proof to support this amount earning (like pay slips or submission accounts). For this route, you do not need to show any earning.

To make it easier for you, post what your annual earnings are and you can be given advice on whether you will need to rely on savings (and how much) to make up any short-fall.

I am getting paid by my own company which is £1000 a month and from this amount I need to pay my payee as well and tax would be like on this amount of £1000 each month and beside this I have savings of around 7k.
So on the basis of this what do I have to do or divide the amount. Thanks
But remember it's been only couple of months since I start getting paid by my own company. So if we look forward for 6 months then I will be getting paid by my own company.

So you're only earning £12,000 per year? This means your income is short by £4,500 a year. You can't use your savings to make up the shortfall as only savings over £16,000 will be counted.

Thanks casa.

Let's say I'd I am earning £16,500 a year
Then to cover other £2100 I can add up savings?
Really appreciate your help and efforts of explaining.

sad.1 wrote:Thanks casa.

Let's say I'd I am earning £16,500 a year
Then to cover other £2100 I can add up savings?
Really appreciate your help and efforts of explaining.

No, the first £16,000 of any savings are discounted from the calculations, on a £16,500 salary I think you;d need savings of around 2.5x the shortfall, plus 16k, so roughly £22,500 in savings.

thanks but lets say if i have saving for last whole year an example is £18000.
and my yearly income is 12 thousand in this circumstances whats the outcome and solution?
thanks