It was announced by the British Government that as from the 9th July 2012 the financial requirements for a UK Thai Settlement/ fiancée visa would dramatically change with the introduction of new financial rules that have to be attained by the UK sponsor. In most cases over the last year it has been difficult for people to be able to supply the documents required or actually be able to reach the financial amounts required. Below we have tried to give it in simple terms for you to understand what needs to be shown for the UK settlement/ fiancée visa application.
It is difficult to understand so I have tried to put it in laymans terms below to make it easier to understand. This is the UKBA that brought these rules into action with no Human rights or any exceptions if you have children or you are married legally.
The financial requirement can be shown in the following ways
- If you are employed by a company in the UK then you must show that you earnings before tax are 18,600.00 pounds and this must be proved mainly with salary slips going back between 6-12 months and also if you can 2 x years latest P60?S and your salar bank statements for 12 months showing your salary paid into your bank which matches your P60’s
- If you are self employed then you must show you earn 18,600.00 pounds before tax and prove your income by showing 2 years tax returns and 2 years financial accounts and a confirmation letter from your accountant stating your earnings for the past 2 years as well as your affiliation with the HMRC including VAT returns and National Insurance payments and I do advise help with an application if you are self employed as there is an extensive list of documents required and they must be correct.
- If you are retired and receive pensions you must have an income yearly of 18,600.00 pounds before tax and you must prove this by showing pension statements for 2 years and also 2 x years P60?S showing tax paid and your earnings.
- If you are not working and not in receipt of pensions you can show a bank account that has a balance of 62,500 pounds or more and this money must be at your disposal and must have been in the bank be it a Thai bank or a UK bank for a minimum of 6 months prior to applying for your Thai settlement visa and it is also a good idea to show the Embassy were the funds originated from in case the question is asked which it normally is.
There is also a separate form to supply with the online application which we call the separate appendix answering the financial questions. This is why it is imperative to get help from professional services and stay away from the foreign run companies because they have no experience in dealing with tax returns, P60?S, benefits, tax credits and National Insurance contributions. I certainly would not give them an 18 page form on financials alone to fill in just in case they make a mistake. You must get help with it to get it correct first time.At Key Visa we have ran our own companies in the UK so we are aware of Limited companies, sole traders and as we say, cards in so you can feel safe that your financial side will be presented correctly.
It must be noted that the financial criteria does increase if you include a Thai child in the visa application with your Thai wife or Thai fiancee to 22,400 pounds for one child and then 2,400 pounds extra for every child applied for. If you have a child together that has a British passport then the extra monies does not apply, you only have to show the criteria for your Thai wife which is 18,600.00 pounds.