Table Of Contents
- What are UK Skilled Worker Visa Financial Requirements
- Minimum Salary Requirement
- Minimum Salary Requirement for Health and Care Workers
- If you are applying for an extension
- Initial Fund Required
- If you are applying to Switch to a UK Skilled Worker Visa
- Final Thoughts
Financial requirements for skilled worker visas are crucial for all skilled worker visa applicants. Without meeting the financial requirement you cannot be eligible to apply for the skilled worker visa. There are two components of financial requirements.
The first is the minimum salary threshold. In recent times, there has been a significant increase in the minimum salary threshold for foreign-skilled workers. This has made it tougher for UK skilled worker visa applicants and UK employers. From 4 April 2024, the new minimum salary threshold is £38,700, a rise of £12,500 from the previous threshold of £26,200 before 4 April 2024. This threshold keeps changing from time to time. You should check the latest threshold when you apply for the visa.
The second component is the initial fund you need to have at the time of application to support yourself and your dependents in the UK.
What are UK Skilled Worker Visa Financial Requirements?
The UK skilled worker visa allows foreign nationals to work in the UK for a UK-based organization. You can only work for an approved sponsor in the UK. This means the organization that will employ you must be a licensed sponsor and it must sponsor you for a job.
You need to meet the eligibility requirements for applying for a skilled worker visa. For Example, You should have a certificate of sponsorship from a UK-based organization, you must meet the English language requirement, you must have a genuine job offer and you must meet the financial requirement.
Out of several eligibility requirements, the financial requirement for a skilled worker visa is a key eligibility criteria. If you fail to meet the financial requirement your application for UK skilled worker visa may be refused.
The financial requirement consists of two elements. The first component is the salary for the job offered and the second is the initial fund required by the applicant at the time of skilled worker visa application. In this article, we are going to discuss the financial requirements for skilled worker visas in 2025.
Minimum Salary Requirement
The minimum salary threshold requirement for a UK skilled worker visa before 4 April 2024 was £26,200. After 4 April 2024, the minimum salary threshold for skilled worker visas has been increased to £38,700.
You should note that the UK skilled worker visa comes under the point-based system. You must earn 70 points to be able to apply for the visa. In 2025 the minimum salary requirement is £38,700 per year or the “going rate” for your specific job, whichever is higher.
You are awarded 20 points if you meet the minimum salary threshold. However, salary is a tradable attribute. This means that you can earn less than £38,700 per year, or the “going rate” for your specific job, and still get the 20 points. You can trade the salary in the following way:
Relevant PhD –
You will be awarded 20 points if you have a PhD in a subject relevant to the job and your salary is at least £34,830 per year or 90% of the going rate for the occupation code, whichever is higher.
Relevant PhD in a STEM (Science, Technology, Engineering, and Mathematics) Subject –
You will be awarded 20 points if you have a PhD in a SETM subject relevant to the job and your salary is at least £30,960 per year or 80% of the going rate for the occupation code, whichever is higher.
Job in Appendix Immigration Salary List –
If you have been sponsored for a job on the immigration salary list and your salary is at least £30,960 per year or the going rate for the occupation code, whichever is higher.
New Entrant –
If you are a new entrant starting your career and below the age of 26 and your salary is at least £30,960 per year or 70% of the going rate for the occupation code, whichever is higher.
Minimum Salary Requirement for Health and Care Workers
Following an increase from 4 April 2024, if you are applying as a health and care worker, you must earn at least £23,200 per annum or the national pay scale for the role, whichever is higher.
If your role is not on a national pay scale, your annual salary must be at least £29,000. The salary requirement for health and care workers is also a tradable. This means you can earn less than £29,000 and still be awarded 20 points if you have either a PhD, a PhD in a STEM subject, or a job in the Immigration Salary List or if you are a new entrant.
This is how you can meet the first component of financial requirements for skilled worker visas.
If you are applying for an extension
If you are applying for a UK skilled worker visa extension or changing your employer, the new salary threshold from 4 April is £29,000.
Initial Fund Required
You can meet this second component of financial requirements for skilled worker visas in 2 ways.
1. Fund in Your Bank Account –
The first to meet the financial requirement is that you must have £1,270 in your bank account at the time of application. The amount must be held in your bank account for at least 28 consecutive days or more. The 28 days have to be within 31 days of the date of your application.
If you have a dependent partner and children the minimum amount increases as follows:
- £285 in addition to £1,270 for dependent partner
- £315 for the first child and
- £200 for each additional child
2. Funded by the Sponsor –
You may also meet the financial requirements for skilled worker visas if your sponsor takes the responsibility to meet the fund requirement of £1,270. Your sponsor must certify on the certificate of sponsorship that they will cover your maintenance and accommodation costs for the first month up to £1,270.
If you are applying to Switch to a UK Skilled Worker Visa
If you are applying to switch to the UK skilled worker visa and you have lived in the UK for at least 12 months on another visa, you don’t need to meet the fund requirement of £1,270.
Final Thoughts
Meeting the financial requirements for skilled worker visas is mandatory for a UK skilled worker visa. In recent years the minimum salary threshold has risen more than once. It may further rise in the future. Thus you should check the latest salary threshold before you apply.
Also, you must have £1,270 in your bank account to support yourself during your stay in the UK for the first month. Your sponsor can also cover the cost for you if you are unable to. For this, they must certify this on the certificate of sponsorship assigned to you.
You need to meet the same financial requirement for a skilled worker visa when you apply for a visa extension. However, if you have lived in the UK for at least 12 months on another visa and now applying to switch to UK skilled worker visa you do not need to show that you have £1,270 in your account.
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