New financial requirement – updated guidance published today
New guidance has been published today in relation to the change in the Minimum Income Requirement.
As predicted, there is a clear distinction between those applying after 11 April 2024 and those who are already within the 5-year Partner route.
The guidance outlines how the new requirement is £29,000, except for “transitional arrangements” for those already on the 5-year Partner Route.
The evidence to support income remains the same. The formula to calculate cash savings remains the same. There is no additional financial requirement for children applying as new applicants with a parent, after 11 April 2024.
Anyone currently in the UK on the 10-year route is subject to the new requirement if switching to the 5-year route.
This is how the guidance outlines the distinction;
• those who apply on or after 11 April 2024 who are new to the 5-year partner, fiancé or fiancée or proposed civil partner routes, or who are applying for permission to stay with a new partner, must meet the £29,000 threshold
• those who apply on or after 11 April 2024 who are already within the 5-year partner, fiancé or fiancée or proposed civil partner routes and are applying for permission to stay with the same partner for which they were last granted permission benefit from transitional arrangements – they must meet the lower threshold of £18,600 (plus the child component), capped at a maximum of £29,000
The second bullet point, is clarified by;
To benefit from the transitional financial requirements within Appendix FM, an applicant must have:
- permission as a partner on the five-year route to settlement, or as a fiancé or fiancée or proposed civil partner at the date of application
- made their first application as a fiancé or fiancée, proposed civil partner or as a partner before 11 April 2024
- been granted permission as a fiancé or fiancée, proposed civil partner or as a partner as a result of that application
- be applying for permission to stay with the same partner for which they were last granted permission
see;
https://assets.publishing.service.gov.uk/media/6613dab3213873b991031b57/Family+Migration+Appendix+FM+Section+and+Appendix+HM+Armed+Forces+Financial+Requirement.pdf