Financial Requirements

Old Apr 16th 2014, 9:47 pm
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Default Financial Requirements

Hi
I'm new!! And probably brain dead. I've been reading so much about all the requirements as well as the financial bits that I can't seem to make sense of them now. Strange that I thought I had really. Anyway, I am a UK citizen currently living in Calgary with my Canadian husband of 6 years. We wish to return to the UK & settle. We meet the 'savings' requirement and I own a house in the UK but my question is…. do I need to have a job waiting in the UK as well? It was just going to be the one question but here is another…… can we come over together or do I need to come over first? I do apologize if the answers to these questions are already here within the forum.
Any advice would be very much appreciated. Thank you.

Last edited by Fedupandt1red; Apr 16th 2014 at 9:49 pm. Reason: Posted too early
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Old Apr 16th 2014, 10:11 pm
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Default Re: Financial Requirements

Welcome to the land of confusion! No, you do not have to have a job lined up if you take the savings route. But keep in mind that when you apply for FLR in two and a half years time, you will need to meet the financial requirements again. But by then you and your spouse could be employed so that would not be a problem. No, once you have the settlement visa, you can enter together or, if you prefer, you can come over first.
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Old Apr 16th 2014, 10:59 pm
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Default Re: Financial Requirements

Michali

Thank you so much for your reply. You know, I've read the info. on the Gov't website & other places over & over but after a while the information really does just turn in to a confusing goop. Even with my glasses on!! I found the Canadian immigration info. much easier to follow when I was applying under the spousal route. This is a great site. Don't know why I didn't think of it before now. I'll try & make a contribution if anyone is seeking advice about going to live in Canada.
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Old Apr 17th 2014, 4:45 pm
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Default Re: Financial Requirements

As michali has said, no if you have 62500 GPBs in a bank and its been there or in your control for six months then you don't need to worry about the job aspect of the application. You will have to show how you got the money and it has to be in the sponsors name or both names. And it is advised that you have your bank sign the statements.

Good luck,
Cheers
Nigel
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Old Apr 17th 2014, 4:46 pm
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Default Re: Financial Requirements

...oh and you have to do it all again in 2.5 and 5 years time..
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Old Apr 17th 2014, 7:09 pm
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Default Re: Financial Requirements

Originally Posted by ncoomber
...oh and you have to do it all again in 2.5 and 5 years time..
... but the requirements reduce somewhat
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Old Apr 17th 2014, 7:39 pm
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Default Re: Financial Requirements

Originally Posted by MrMuffin
... but the requirements reduce somewhat
do they? maybe at the 5yr point they do....but I was thinking at the 2.5yr point its still the same isn't it?
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Old Apr 17th 2014, 7:43 pm
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Default Re: Financial Requirements

I believe that the savings requirement is reduced at the five year point but most couples I would think would be employed and would use their salaries to meet the income requirement at both the five year and the two and a half year points. The whole idea is to show that you are not going to be using benefits to survive.
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Old Apr 17th 2014, 7:45 pm
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Default Re: Financial Requirements

Originally Posted by ncoomber
do they? maybe at the 5yr point they do....but I was thinking at the 2.5yr point its still the same isn't it?
I'm stuck in the middle of a crazy deadline right now but check out the UKBA site... I think it reduces at the 2.5. Maybe down to like 40K or something. Plus sponsor and applicant's salaries can be included which also helps.
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Old Apr 17th 2014, 8:55 pm
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Default Re: Financial Requirements

Thank you all for your responses. I have just looked at a table in the April 2014 edition of the Immigration Directorate Instructions for Family Members. Lovely light reading!!
Income requirements do appear to reduce after a period if I am interpreting correctly. A sliding scale seems to start after 15 months over a 60 month period. I may have this totally wrong though. I do understand that we will have the joys of doing this all again after the 2.5 & 5 year periods. Thank goodness the dog doesn't have to prove income! That's another story!!
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Old Apr 20th 2014, 8:24 am
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Default Re: Financial Requirements

Originally Posted by ncoomber
As michali has said, no if you have 62500 GPBs in a bank and its been there or in your control for six months then you don't need to worry about the job aspect of the application. You will have to show how you got the money and it has to be in the sponsors name or both names. And it is advised that you have your bank sign the statements.

Good luck,
Cheers
Nigel
When I received my spousal visa in November 2013 via savings, the accounts could be in the sponsor's name, applicant's name or both names. A few accounts were in my name only and had no issue.

Good luck OP. It's a very stressful and confusing process but we made it through from B.C. a few months ago.
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Old Apr 20th 2014, 1:27 pm
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Default Re: Financial Requirements

Hello CDNtoUK

Thanks for your input. As a matter of interest, how long did it take for the Visa to be approved? According to the all the official blurb it's about 3 months but if it's anything like the Canadian way processing times change as quickly as the weather and the waiting period gets longer. I'm having to renew my PR summer and the processing time is currently 110 days, up from 90.
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Old Apr 21st 2014, 9:53 am
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Default Re: Financial Requirements

From what i've managed to fathom reading through the requirements is similar to what others have said. The Initial Visa, and the second visa (LTR) at the 2.5 year mark are both the same financially speaking. £18,600 a year or £62,500 over the 2.5 years which includes £16,000 of savings which is not counted towards your total usable amount.

At the 5 year mark when you apply for your (ILR) it only requires one year worth of financial evidence. Which is basically the same if your going the employed route but if doing the savings route would mean the £62,500 would be reduced to £34,600, assuming no children are involved. and i don't think British born kids are included, but maybe they are i don't know?

I have a question though, I know that going the savings route you need to have £16,000 plus the £18,600 per year. but if you're going to apply just on employment income, is the £16,000 needed in the bank??
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Old Apr 21st 2014, 11:14 pm
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Default Re: Financial Requirements

Originally Posted by Fedupandt1red
Hello CDNtoUK

Thanks for your input. As a matter of interest, how long did it take for the Visa to be approved? According to the all the official blurb it's about 3 months but if it's anything like the Canadian way processing times change as quickly as the weather and the waiting period gets longer. I'm having to renew my PR summer and the processing time is currently 110 days, up from 90.
We paid for the priority processing and had it back in less than 2 weeks. It was such a relief as we had already booked our flights and sold our house and the timeline was tight as I was 6 months pregnant with baby no. 3. We went the savings route as well so it was pretty straight forward.
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