International students and skilled workers applying for visas to the United Kingdom will face higher financial requirements beginning January 2, 2025.
These changes, announced by the UK government, require applicants to show more money in their bank accounts to cover living expenses during their stay.
These updated regulations affect those hoping to study or work in the UK, with new financial thresholds set for students and skilled workers.
These changes are aimed at ensuring that applicants have the necessary financial resources to support themselves during their time in the UK.
Increased financial requirements for students
International students seeking a UK study visa will now need to show higher amounts of money to cover their living expenses. For students attending courses in London, the required amount is £1,483 per month, while students studying outside London will need to show £1,136 per month, TravelBiz reports.
For a typical one-year master’s program, students must show £13,347 if studying in London, and £10,224 for those outside London. The funds must be held in the applicant’s bank account for at least 28 consecutive days before submitting the visa application.
Comparison with current financial requirements
According to reports, currently, the financial requirements are lower. For students in London, the monthly amount is £1,334, while those studying outside London need to show £1,023 per month. Under the new rules, these amounts will increase, placing additional financial burdens on prospective students.
Changes to skilled worker visa financial requirements
Skilled workers applying for a visa to the UK will also face new financial thresholds. According to reports, to qualify for a skilled worker visa, applicants must have an annual income of at least £38,700 to cover living expenses and accommodation. In addition, applicants must secure sponsorship from an employer approved by the Home Office.
Like student applicants, skilled worker visa applicants must demonstrate that they have the required funds in their account for at least 28 consecutive days before submitting their application if they do not have employer sponsorship.
Updated UK visa fees and exemptions
Visa application fees for 2025 have been revised to reflect inflation and improved services. The new fees for various visa categories are as follows:
- Short-term Visit (6 months): $153
- Long-term Visit (2 years): $573
- Long-term Visit (5 years): $1,023
- Long-term Visit (10 years): $1,277
- Skilled Worker Visa: $827
- Student Visa (Outside UK): $647
- Parent of Student Child Visa: $845
Priority visas are priced at $550, while super-priority visas cost $1,050. However, certain groups such as individuals with disabilities, carers, and professionals in specific sectors like healthcare, the armed forces, and talent-based roles will continue to benefit from fee waivers.
The 28-day rule for financial documentation
A key new regulation is the “28-day rule”. Applicants must ensure that the required funds remain in their bank account for at least 28 consecutive days, without dipping below the required amount.
Bank statements or certified letters submitted as part of the financial documentation must show that the closing balance is no older than 30 days when the visa application is submitted. Failure to comply with this rule may result in visa rejection
What to know
Applicants are advised to start budgeting early to ensure they have the required funds well before their application date. Monitoring exchange rates is also important, as fluctuations could impact the total amount of money needed. Additionally, applicants should carefully check that all financial documentation complies with the 28-day rule to avoid delays or rejections.
The UK’s updated visa policies will require students and skilled workers to be more prepared financially. Applicants should review these new requirements thoroughly to ensure their visa applications meet the necessary standard.