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Using Cash Savings in UK Spouse & Partner Visa Applications

For those applying for entry clearance or leave to remain in the UK as a Partner under Appendix FM of the Immigration Rules the applicant is required to satisfy a financial requirement. The minimum income threshold increased from £18,600 to £29,000 for new  applications on 11 April 2024.  There is no longer a separate child element to the minimum income requirement.

There are a number of ways in which the financial requirement for a UK Spouse or Partner Visa can be met, including cash savings, under category D. In this post we explore the requirements of the Immigration Rules for using cash savings in applications for UK spouse visa and UK partner visa applications.

What Amount of Savings Is Required for a UK Spouse Visa or UK Partner Visa Application?

An amount based on cash savings above £16,000 may be counted towards meeting the financial requirement for a UK Spouse Visa or UK Partner Visa. This is because £16,000 is the level at which a person generally ceases to be eligible for income-related benefits.

At the entry clearance/initial leave to remain and further leave to remain stages, the amount of cash savings above £16,000 must be divided by 2.5 (which reflects the two and a half year period of leave granted) to give the amount required to satisfy the immigration rules. The sum of £88,500 (£29,000 x 2.5 + £16,000) will therefore meet the financial requirement alone.

Can Cash Savings Be Combined With Other Income?

It is possible to combine cash savings with employment whether salaried or non salaried (Categories A and B) and non-employment income (Category C) and pensions (Category E). Unfortunately, cash savings cannot be combined with self-employment income (Category F) or income from employment as a director of a specified company (Category G).

If, by way of an example, an applicant would need to show an income of £29,000. If savings are held in the sum of £50,000, the first £16,000 is discounted and then the remaining balance of £34,000 is divided by 2.5 (period of grant of leave) meaning that savings in the sum of £13,600 could be relied upon. The remaining balance of £15,400 could be made up of through employment and non-employment income.

If the applicant’s partner has no income from employment or elsewhere, the level of savings required to satisfy the financial requirement will be £88,500 (£29,000 x 2.5 + £16,000).

Evidential Requirements for Cash Savings

Appendix FM-SE of the Immigration Rules sets out very specific requirements as to the documentary evidence which must be provided with the application in order to count cash savings towards meeting the financial requirement.

Savings must be held in cash in a personal bank account or savings account in the name of the applicant, the applicant’s partner or in joint names. The savings must have been held by the applicant, their partner or in joint names for at least six months prior to the date of application and cannot be borrowed.

Any savings which are not held in pounds sterling will need to be converted using the closing spot exchange rate which appears at on the date the application was made.

The savings can be from any legal source and a formal declaration in relation to the source will be need to be provided. The declaration will need to confirm that the money has been under the control of the person or their partner for the necessary time period required.

The bank savings can be in a current, deposit or investment account. An investment account must meet all the requirements in order that it be considered as a bank/savings account which include the following:

  • The account is held is a financial institution regulated by the appropriate regulatory body for the country in which that institution is operating;
  • The financial institution is not on the list of excluded institutions under the Immigration Rules;
  • Regular bank statements are provided;
  • The statements cover the necessary time period required in the Immigration Rules;
  • The savings are held in cash (or their cash value is clear);
  • The savings can be immediately withdrawn (with or without penalty)

It is also possible to rely on savings from the sale of property or investments provided they were owned or held in the 6 months prior to the date of application.

Contact Our Immigration Lawyers

For more information on the financial requirement for a UK Spouse Visa or UK Partner Visa under the Immigration Rules, or to discuss an application for a UK Spouse Visa or UK Partner Visa, contact our immigration barristers on 0203 617 9173 or via the form below.


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