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Huge_Euge wrote: ↑Fri Aug 21, 2020 6:00 pm. However I am not sure whether that means that the funds have to be held as a specific and easily traceable investment (like stocks in one company purchased over 6 months ago) or does that just mean that it can’t be from new funds injected into the portfolio less that the required time period ago, or a newly opened investment account?
Under paragraph 11A(c) funds held as cash savings by the applicant, their partner or
both jointly at the date of application can have been transferred from investments
(including funds liquidated from a pension pot), stocks, shares, bonds or trust funds
within the period of 6 months prior to the date of application, provided that:
• the funds have been in the ownership and under the control of the applicant,
their partner or both jointly for at least the period of 6 months prior to the date
of application
• the ownership of the funds in the form of investments, stocks, shares, bonds or
trust funds; the cash value of the funds in that form at or before the beginning
of the period of 6 months prior to the date of application; and the transfer of the
funds into cash, are evidenced by a portfolio report or other relevant
documentation from a financial institution regulated by the appropriate
regulatory body for the country in which that institution is operating
• the requirements of Appendix FM-SE in respect of the cash savings held at the
date of application are met, except that the period of 6 months prior to the date
of application in paragraph 11(a) will be reduced by the amount of that period
in which the relevant funds were held in the form of investments, stocks,
shares, bonds or trust funds
• for the purposes of sub-paragraph 11A(c), ‘investments’ includes funds held in
an investment account which does not meet the requirements of paragraphs
11 and 11A(a)
Thanks for your response! I have read the guidance over and over again, but still can’t understand whether it means that a particular asset has to be in ownership for 6 months or part of six months period or if it means actual value of asset(s)?seagul wrote: ↑Fri Aug 21, 2020 7:52 pmHuge_Euge wrote: ↑Fri Aug 21, 2020 6:00 pm. However I am not sure whether that means that the funds have to be held as a specific and easily traceable investment (like stocks in one company purchased over 6 months ago) or does that just mean that it can’t be from new funds injected into the portfolio less that the required time period ago, or a newly opened investment account?
Under paragraph 11A(c) funds held as cash savings by the applicant, their partner or
both jointly at the date of application can have been transferred from investments
(including funds liquidated from a pension pot), stocks, shares, bonds or trust funds
within the period of 6 months prior to the date of application, provided that:
• the funds have been in the ownership and under the control of the applicant,
their partner or both jointly for at least the period of 6 months prior to the date
of application
• the ownership of the funds in the form of investments, stocks, shares, bonds or
trust funds; the cash value of the funds in that form at or before the beginning
of the period of 6 months prior to the date of application; and the transfer of the
funds into cash, are evidenced by a portfolio report or other relevant
documentation from a financial institution regulated by the appropriate
regulatory body for the country in which that institution is operating
• the requirements of Appendix FM-SE in respect of the cash savings held at the
date of application are met, except that the period of 6 months prior to the date
of application in paragraph 11(a) will be reduced by the amount of that period
in which the relevant funds were held in the form of investments, stocks,
shares, bonds or trust funds
• for the purposes of sub-paragraph 11A(c), ‘investments’ includes funds held in
an investment account which does not meet the requirements of paragraphs
11 and 11A(a)
within the period of 6 months prior to the date of application, provided that:Huge_Euge wrote: ↑Fri Aug 21, 2020 8:15 pmThanks for your response! I have read the guidance over and over again, but still can’t understand whether it means that a particular asset has to be in ownership for 6 months or part of six months period or if it means actual value of asset(s)?seagul wrote: ↑Fri Aug 21, 2020 7:52 pmHuge_Euge wrote: ↑Fri Aug 21, 2020 6:00 pm. However I am not sure whether that means that the funds have to be held as a specific and easily traceable investment (like stocks in one company purchased over 6 months ago) or does that just mean that it can’t be from new funds injected into the portfolio less that the required time period ago, or a newly opened investment account?
Under paragraph 11A(c) funds held as cash savings by the applicant, their partner or
both jointly at the date of application can have been transferred from investments
(including funds liquidated from a pension pot), stocks, shares, bonds or trust funds
within the period of 6 months prior to the date of application, provided that:
• the funds have been in the ownership and under the control of the applicant,
their partner or both jointly for at least the period of 6 months prior to the date
of application
• the ownership of the funds in the form of investments, stocks, shares, bonds or
trust funds; the cash value of the funds in that form at or before the beginning
of the period of 6 months prior to the date of application; and the transfer of the
funds into cash, are evidenced by a portfolio report or other relevant
documentation from a financial institution regulated by the appropriate
regulatory body for the country in which that institution is operating
• the requirements of Appendix FM-SE in respect of the cash savings held at the
date of application are met, except that the period of 6 months prior to the date
of application in paragraph 11(a) will be reduced by the amount of that period
in which the relevant funds were held in the form of investments, stocks,
shares, bonds or trust funds
• for the purposes of sub-paragraph 11A(c), ‘investments’ includes funds held in
an investment account which does not meet the requirements of paragraphs
11 and 11A(a)
For example: my we have the required funds in a cash ISA, which we can withdraw to a bank account without any losses. However the funds have been held in that particular account only from July. It was not a new cash deposit however, rather it was taken from sales of stocks and shares and from portfolio income. So technically the funds have always been in the same investment portfolio, but not in the same place. Could this count towards cash savings if deposited into a bank account or not?
In our case, I don’t understand whether the guidance should be read as “savings from investment account which doesn’t meet the requirements can be liquidated into cash 6 months in advance” or “savings from account which doesn’t meet the requirements can be liquidated and held As cash for a part of 6 months period and at the time of application” ? Please help!Under paragraph 11A(c) funds held as cash savings by the applicant, their partner or both jointly at the date of application can have been transferred from investments (including funds liquidated from a pension pot), stocks, shares, bonds or trust funds within the period of 6 months prior to the date of application, provided that:
• the funds have been in the ownership and under the control of the applicant, their partner or both jointly for at least the period of 6 months prior to the date of application
• the ownership of the funds in the form of investments, stocks, shares, bonds or trust funds; the cash value of the funds in that form at or before the beginning of the period of 6 months prior to the date of application; and the transfer of the funds into cash, are evidenced by a portfolio report or other relevant documentation from a financial institution regulated by the appropriate regulatory body for the country in which that institution is operating
• the requirements of Appendix FM-SE in respect of the cash savings held at the date of application are met, except that the period of 6 months prior to the date of application in paragraph 11(a) will be reduced by the amount of that period in which the relevant funds were held in the form of investments, stocks, shares, bonds or trust funds
• for the purposes of sub-paragraph 11A(c), ‘investments’ includes funds held in an investment account which does not meet the requirements of paragraphs 11 and 11A(a)
Huge_Euge wrote: ↑Wed Nov 11, 2020 6:04 pmHello,
I'm about to submit my application and just wanted to confirm some questions I had about the form. I'm applying from within the UK as a married partner and my current expiring visa is Tier 4. I was hoping to get some advise on the form and the application in general.
1. Time lived in the UK Does this mean all the time I've lived in the UK, or just in my last stay? Because my total would be about 7 years with all the studying I've done, but it wasn't continuous as I've moved back to my home country for about 2 years. So basically my immigration history is 5 years in the Uk, 2 years away and another 2 years in the UK. Which number is best to put in as an answer to this question?
2. What amount of savings are held in this account in GBP? We are relying on savings as part of meeting the financial requirement. The funds have been held continuously for 6 months, but the account has received interest over the months, so there is slight fluctuation. I understand that the lowest balance in the period is counted towards the financial requirement, so should I put in the lowest balance that will be considered, or the balance from the most recent statement (which is insignificantly higher).
3. What is their annual income before tax for this employment in GBP (£)? Similar to the previous question. As I understand, if you have been furloughed due to COVID lockdown, 100% of your salary would be counted towards the financial requirement rather than 80%. This has been the case with us, so in this line should I put in the 6 months gross salary with 100% furlough or 80% percent and make a note in the cover letter that I have been furloughed for 3 months?
4. And finally, a question about the bank statements that need to be provided. We currently have Barclays Bank statements downloaded from online banking portal, but I am not sure if those are sufficient. Barclays branches refuse to print any statements or stamp any existing ones due to cover restrictions, and their self service machines don't print statements that are older than 2 months. Now, we have also ordered paper statements to arrive by mail, but they will take quite some time to arrive. So after the online application is submitted is it best to wait for the paper ones to arrive by post before uploading the supporting documentation, or will the online banking pdfs be sufficient?
Thank you so much in advance!
Thanks a lot for your reply! Will make the changes now.seagul wrote: ↑Wed Nov 11, 2020 7:05 pm
1. 5 years
2. Give the latest closing balance whilst indicate the lowest balance figure in the covering letter.
3. Give the exact figure given by your employer in employer letter and refresh the caseworker's knowledge to consider 100% in same covering letter.
4. If the online bank statements resembles with postal statements and aren't marked as 'online' then straight can be uploaded without any stamp or waiting for the ones in transit. Keep it instilled that only apply once you get everything in hand because the documents especially financial ones are time sensitive which shouldn't be older than 28 days or be post dated from the date of application.
Yes you are right. Either (7 or 2) should be fine because authorities will have all record.Huge_Euge wrote: ↑Wed Nov 11, 2020 9:47 pmThanks a lot for your reply! Will make the changes now.seagul wrote: ↑Wed Nov 11, 2020 7:05 pm
1. 5 years
2. Give the latest closing balance whilst indicate the lowest balance figure in the covering letter.
3. Give the exact figure given by your employer in employer letter and refresh the caseworker's knowledge to consider 100% in same covering letter.
4. If the online bank statements resembles with postal statements and aren't marked as 'online' then straight can be uploaded without any stamp or waiting for the ones in transit. Keep it instilled that only apply once you get everything in hand because the documents especially financial ones are time sensitive which shouldn't be older than 28 days or be post dated from the date of application.
I'm confused about 5 years though? I've lived in the UK for 5 years since 2011, and then left for 2 years, and then have been back in the uk for 2? So in my understanding it can either be 7 or 2?