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Topic: How to show funds for General Tier 1
Hi All,
I see there is so many post regarding this query I thought I might add a post for it.
First of all the amount of funds
U will need 400 pounds for Initial settlement . This is a must and is regardless of whether u apply alone or with dependents
If u are applying alone u need 2400 pounds which means u need a total of 2400+400=2800 pounds.
If u are applying with ur spouse she/he need 2/3 of ur amount which is 1600 pounds so in all u will need 400+2400+1600=4400 pounds
If u have children each child will need 1/3 of ur amount =800 pounds
so if u are applying with ur spouse and one child u will need 400+2400+1600+800 = 5200 pounds
The biggest confusion is for how much time this amount is to be in ur account?
Most of u will not like the answer. It has to be there for 3 months which means when u apply u have to submit a 3 months bank statement and at no time in those 3 months ur statement should read less than 3 months. This is according to the latest news released today i.e 12th March 2008 by BIA.
The next question is whether all the amount needs to be in the same amount.
The Answer is NO. If u are applying with ur dependents then they can have separate accounts.
For example if u are applying with ur wife and ur wife has her own account she needs to have 1600 pounds for 3 months and u need 2800 pounds.
As for FD , mutual funds and stocks
The report does not say clearly but it says you can have one or the combination of following
You must send one or a combination of the following:
personal bank or building society statements covering a period of three months;
building society passbook or passbooks covering a period of three months;
letter from your bank confirming the level of funds in your bank account and that they have been held in that account for at
least three months;
letter from a financial institution regulated by the Financial Services Authority confirming funds.
As per my knowledge finacial institution does cover mutual funds and stocks.But how do you show them its on you.
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Thnaks for valuable information.
I called Bangalore VFS Office and they told "Transitional Arrangements" is not yet applicable for people from India. They also told Home Office might extend existing EC rules after 1st Apr, 08.
As per my knowledge, it is not sure whether people from India who applied for HSMP and did not get EC approved befoe 1st Apr, 08, will fall under "Neww Tier 1 PBS".
Logically people who get HSMP under old rules, new Tier 1 rules (under which one section is "keeping Maintenance Fund" for 3 months) can not affect them.
It may be possible, now for half way candidates, instead of applying from India for EC, will send application for EC directly to UK Home Office.
Thanks
Sanjit
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Christ, now all i need to know is if my HSMP gets approved, then I'd go for a personal loan or two and wait for 3 months.
The amount is horrible, goodness me, I had recently purchased a home and all of my funds have been used up.
A personal loan for me and my wife, Yeah, will have to go for those only if/after I get to know of my HSMP approval status.
3 months - this is horrible :(
Best Regards
Amit
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Need Urgent Reply
Dear Friends,
I am applying for HSMP from UK. Could you please tell me about the requirement of Bank statement.
I have got my bank statement for last three months but my balance was under £ 800 i-e £ 650 only for five day in February. Other wise my monthly outstanding balance for the last 3 months is over £ 800.
Kindly let me know that, should I wait for 3 more months like from March to May to apply for HSMP or I can apply for it because my bank statement in last 3 months never crossed the line below £ 800 except five days of February.
Is it possible for me to show statements of my two diffrent bank accounts to prove funds ove £800 pound in last 3 months.
Thank you so much
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Hello Baba77
You will have to wait, unfortunately that is the pain and problem of this new Tier 1, your bank statement cannot go down for a single day below £800 if u are applying from the UK and £2800 if you are applying from India.
So February (date), whatever day it climbed back to 800 plus 90 days.
Best Regards
Amit
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Thank you so much Amit
Is it possible for me to show statements of my two diffrent bank accounts to prove funds ove £800 pound in last 3 months.
The time when i had only £600 in my one account at the same time I have £400 in my other account. Does it make sense to send two diffrent statement to prove total funds over 800 for the last 90 days.
Thank you so much
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Guys,
I cant understand where you got this figure of £2800 as the guidance for the new tier1 points based system says that you only need to have £800 in your account(and not £2800).i found this when i cliked the points calculator in the home office website and clicked the reuirement for maintainence funds.it opens up another webpage where you will a link to download the new tier1 application form and the guidance notes and the maintainence funds is in section 188.please comment...
rgds
i have also just looked at the immigration rules appendix C(as given in the guidance notes) and even that needs you to have only £800 in your account.please see the link below.
http://www.bia.homeoffice.gov.uk/policyandlaw/immigrationlaw/immigrationrules/appendixc/
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800 is only if you are applying from within UK, for out of country applications its 2800...
regards,
Sonali
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hi sonali,
can you please tell me where you found this information (regarding £2800 for outside UK cases)? i have downloaded the guidance notes for the tier1 points based system and it doesnt say anything about the differences in applications filed from UK and outside UK.I am currently in UK but will be going to india this month end and hence have to apply for EC from India and a bit worried whtehter i need to show £2800 in my bank account for 3 months? please provide me a link to the related notes about the £2800 limit.
rgds
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Dear Friends
My question is still there,
I am applying from UK.
Is it possible for me to show statements of my two diffrent bank accounts to prove funds over £800 pounds in last 3 months.
The time when i had only £600 in my one account at the same time I had £400 in my other account. Does it make sense to send two diffrent statement to prove total funds over 800 for the last 90 days.
regards,
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Hi prince143,
Please check this out
http://www.bia.homeoffice.gov.uk/workingintheuk/pointsbasedsystem/eligibility/pointsassessment/maintenance/
Its mentioned as below:-
You must score 10 points for maintenance (funds), which are awarded if:
you are applying to a British overseas entry clearance post for permission to come to the United Kingdom (known as 'entry clearance') and have £2,800 in available funds; or
you are applying for permission to stay in the United Kingdom (known as 'leave to remain') and have £800 in available funds.
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Hi Guys,
This requirement of maintaining funds for 3 months is from old system or new Tier 1 system?
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Hi Baba
the reason why ur problem is still not solved b'coz u post it at so many places and then u forget to look at all the post. I answered u at one of them.Anyway, u can show a combination of funds as per BIA guidelines so two bank accounts are okey. But u will need to confirm it from HO by sending them an email.
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is "Transitional arrangements for maintenance (funds)" is applicable for NEW Applicant for "Points-based system: Tier 1 (General) highly skilled workers" who is already under work permit? i am in UK for last one year.
Hi i am planning to apply for "Points-based system: Tier 1 (General) highly skilled workers" soon from uk and i am holding work permit. But i dont have Maintenance (funds) of (800+533+533) for last three months unfortunaly all transfered to india, but do have it for last 1 month since i came to know about the rules. but can i apply for Transitional arrangements for maintenance (funds)? i am in hurry so i cant wait if it applies to me as well
it says...
http://www.ukba.homeoffice.gov.uk/sitecontent/applicationforms/pbs/tier1genpolicyguide.pdf
(please ready first and last page only)
Thanks for you help in adv.
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