The financial requirements and the 28-day rule are very important factors when considering applying for a UK job visa. If you do not meet these requirements, your application will be rejected.

Who does not need to meet the financial requirements in the UK?

If you are applying for permission to stay in the UK, the financial requirements may not apply.

You do not need to meet the financial requirements if:

• You are applying for permission to stay in the UK and have been living in the UK with valid permission (visa) for 12 months or more on the date of your visa application; or
• You are switching from the student route into settled status under Tier 4 of the points-based system (PBS) after having completed at least 12 months of study at an English university or other degree-awarding institution recognised by Ucas, or
• Have been granted exceptional talent status under Tier 1 General Points-Based System (PBS) categories.

Category of applicants who do not need to submit financial documents?

Suppose you are a national of a country listed in Appendix ST paragraph 22.1 of the Immigration rules. In that case, your application must be submitted on or before 28 days of entry into the UK.

Suppose you rely on the differentiation arrangements and meet all other requirements of this guidance (including being able to support yourself financially). In that case, you do not need to submit financial documents for us to consider your case.

However, please note that if they do request proof that you meet these requirements when processing your application, then failure to provide these documents will lead them back into carrying out checks against HMRC/Department for Work & Pensions records etc. 

Who must meet the financial requirements and submit Financial Evidence in the UK?

The financial requirements and the 28-day rule apply to all UK visa applications, including those applying for a Tier 2 (General) Visa. However, not all applicants will be required to submit Financial Evidence in the UK.

The following people must meet the financial requirements and submit financial documents in the UK:

• Those who want to come to live and work in the UK as Tier 1 (Exceptional Talent) or Tier 1 Postgraduates.
• Those who want to come to visit, study or work temporarily in the UK under short-term category visas.
• Those on temporary business visits.
• Professionals working on one-way contracts as part of their overseas assignments (including international placements)

How much money do I need?

The financial requirements are the same for all applicants. The financial requirement is based on the income from all sources of the applicant, their partner and any other family members included in the application.

Some of the areas in which you will require a quite good amount of money are as follows:

1. Tuition fees

If you plan to pursue your higher education in the UK, you will require money to pay the tuition fees for the course you wish to enrol in. Confirmation of acceptance of studies (CAS) is responsible for confirming your fee amount. 

To get issues with CAS, you will need to make an initial deposit of £4,000 and other miscellaneous and extra expenses applicable to your course (if any). 

If you are applying for a master's programme and the fee for your course is, let's say, £20,000, and you have paid £4,000 to CAS + £1000 for additional expenses, then you must have the remaining £15,000 in your or your parent's bank account. 

2. Living Costs

Living costs in the UK can vary depending on which area you wish to live in. you must show that you have an amount of at least £1,334 available per month for your course, for a tenure of 9 months. The maximum amount needed for your living expenses will be £12,000. 

3. The 28-day rule

The 28-day rule is a British immigration law which states that if you are refused entry, you must prove that you have enough money to support yourself and any dependents for 28 days if they are coming with you. 

The 28-day rule allows you to keep your old job while you look for a new one if it could be better. This can help with applying for jobs because you will not have to worry about losing money or assets during this transition period.

Who does not need to meet the financial requirements in the UK?

Several people do not need to meet the financial requirements for immigration. These include:

• Those with refugee status.
• Those who have been granted humanitarian protection or discretionary leave.
• Those who have already been granted indefinite leave to remain (ILR) for more than five years or who intend to apply for ILR within 90 days of entering the UK.

Financial evidence

Along with the pointers mentioned above, you also need to show some financial evidence. These are as follows:

• your bank account statement 
• your parent's bank account statement 
• your partner's bank account statement, in the case, that they have permission and are applying at the same time as you.
• A joined account with a person, given that your name is added and visible in that account.
• A joined account with the name of both of your parents on it.

Hire Professional UK Visa consultant

The 28-day rule is a useful guide to help you understand what requirements are and how they work. However, it is only sometimes appropriate to follow this rule when applying for a particular role for a work permit in the UK. 

 If you think your qualifications may be less than those required for the role or the company in question, consider contacting the recruiter directly so that you can share your specific experience and skills with them. To get more insights on visa eligibility and assistance with visa applications, it is better to hire and consult Work Permitz consultants to smoothen your UK work permit visa!