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1. Yes. See Section 9 from page 60 of the guidance document linked below for details:mcr2013 wrote: ↑Thu Jul 02, 2020 3:03 pmhello guys
i m asking this question on behalf of my friend, he just recently got ILR from TI ENTREPRENEUR, now he wants to married back home he is employee in his own company 2000 pounds a month, 2ndly he invested 75000 pounds in his business in the form of director loan. basically i want to ask 2 questions here
(1) will HO consider his salary of 2000 pounds/month in his own company ?
(2) or if he take his director loan back from business to personal account will it be any problem coz i have heard if we have saving of 64000 pounds for 6 months then no need to show 18600 pounds income a year. his DL contract was 5 years. now 5 years have passed and business is running. will HO consider this money as a saving ? does he need to show any other document if he take his DL back from his business..
(3) he also wants to apply furlough, will it effect his spouse visa ?
(4) which one u think is more secure to apply 64000 pounds or the 2000 pounds/month in his own company ?
If these requirements and the others described in the guidance document (including those for investments, stocks, shares, bonds or trust funds that may have been liquidated or transferred into cash by the same owner), then the funds would not be able to be used towards meeting the financial requirement. So the answer likely ultimately depends on how those funds are held.- Savings must be held in cash in a personal bank/savings account in the name of the
applicant, their partner or the couple jointly.
- The applicant and/or their partner must confirm that the
money, which cannot be borrowed, is under their control and evidence that it has been
held in their bank account for at least the 6 months prior to the date of application.
- The savings can be immediately withdrawn (with or without penalty)
4. Either or a combination of both are equally viable means of meeting the requirement provided the criteria for the applicable category can be met and the necessary supporting evidence provided.Changes to the minimum income and adequate maintenance requirement -
If you’ve experienced a loss of income due to coronavirus, we will consider employment income for the period immediately before the loss of income due to coronavirus, provided the requirement was met for at least 6 months up to March 2020.
If your salary has reduced because you’re furloughed, we will take account of your income as though you’re earning 100% of your salary.
If you’re self-employed, a loss of annual income due to coronavirus between 1 March 2020 and 31 July 2020 will generally be disregarded, along with the impact on employment income from the same period for future applications.
The requirements for using cash savings are detailed in the guidance document previously provided. If the requirements are met, either scenario would be equally acceptable. You have to declare the source of the savings.