The financial requirement is a cornerstone of the settlement application process. Your partner, who acts as your sponsor, must show that they can financially support you without relying on public funds. As of now, the minimum income threshold is £29,000 per year (for entry clearance applications after April 2024).
The financial requirement can be met through various sources, including employment income, savings, pension income, and rental income. It’s essential to provide comprehensive evidence of your financial situation, including payslips, bank statements, tax returns, and employment contracts.
If your partner is self-employed, the documentation required may be more extensive, including business accounts, tax returns, and proof of ongoing contracts or income.
In some cases, applicants may not meet the financial requirement through income alone. In such situations, savings can be used to make up the shortfall.
From 11 April 2024, the UK Home Office has increased the minimum financial threshold for applications under the Unmarried Partner visa route, as well as the Spouse, Civil Partner, and Fiancé(e) visa routes.
The updated requirements are as follows:
A minimum gross annual income of £29,000
or
Cash savings of £88,500, if the applicant is not relying on income.
(This is calculated as £29,000 × 2.5 years + £16,000)
This new requirement applies to all applications submitted on or after 11 April 2024, irrespective of whether dependent children are included in the application.
Where the sponsor is unable to meet the income threshold through employment alone, it remains permissible to combine income and savings in accordance with the standard Home Office formula. Alternatively, an applicant may rely solely on cash savings, provided the full amount is held for at least six months prior to the date of application.
It’s important to note that the financial requirement must be met for the entire duration of the visa. This means that you must continue to provide evidence of your financial situation when applying for extensions or ILR. Failure to meet the financial requirement at any stage could result in the refusal of your application or the cancellation of your visa.