Each dependant must have a certain amount of money, held in a bank or building society account, or an account with an officially regulated financial institution. All dependants will need to have evidence of this, and in most cases, your dependant must produce this evidence with their immigration application.
The money can be held by the dependant or by you. If the dependant is your child, the funds can be held by the child’s other parent, but only if the other parent is present in the UK too. However, if the application for immigration permission is made on or after 11 January 2018, there is no longer the requirement (for the purposes of satisfying the financial requirements only) for this other parent to be present in, or coming to, the UK. All other requirements in relation to both parents of the child being in the UK or coming to the UK (unless exceptions apply) still need to be met.
The money must have been in the account for a minimum period of 28 consecutive days up to the date of the closing balance. The account must not have dropped below the amount required at any time during the 28 day period. Also, the final date of this 28 day period must not be more than 31 days before the immigration application is made.
There is an exception to this requirement if a government, the British Council, an international organisation, an international company or a university is giving you money to cover your course fees or living costs. In that case, ask if they are prepared to give you a letter stating that they will cover the full maintenance costs of your dependant. If they will, then that letter on its own will mean that your dependant has met the financial requirements. There will be no requirement for them to show that they have any money at all in a bank or building society account, or in an account with an officially regulated financial institution. There are precise instructions about the format the letter must take in the ‘Points Based System (Dependant) Policy Guidance’. Make sure the letter complies with every one of those instructions. If they are not prepared to say in their letter that they will cover the full maintenance costs of your dependant, but they are prepared to promise them a certain amount, they should say in their letter how much they will provide for your dependant. That amount will then be deducted from the total amount of money that your dependant is expected to show in bank or building society accounts or accounts with officially regulated financial institutions.
Each dependant must declare in their application that the money for living costs will remain available to them, unless used for living costs in the UK.