The UK Border Agency (UKBA) has published a list of financial institutions which it considers, on the basis of experience; does not verify financial statements to a satisfactory standard.
The list, available via the UKBA website, will be used to verify maintenance funds under Tier 4 of the points-based system. An applicant will receive no points for maintenance if they submit documents showing that the funds are held in a financial institution on the list. The list forms part of the reforms to the student immigration route. The change has been initiated to verify student visa applicants hold the required maintenance funds to support themselves and pay for their course in the UK.
When a financial institution is first listed a 30 day notice period will be given to enable applicants to make the necessary financial arrangements, to ensure financial documentation meets the new requirements. The list will be under review, with additions or deletions made as appropriate. Financial information from financial institutions not on the list, will continue to reviewed of a case-by-case basis.
At Commonwealth Contractors we partner with OISC Registered Private Immigration Firms and Tier 2 Licensed Healthcare and IT Consultancies who may be prepared, where required, to sponsor an individual on a Tier 2 Visa (formerly UK Work Permit). If you are a highly skilled International professional and you would like to work in the UK Commonwealth Contractors can help. Our OISC Registered Partners specialise in Tier 1 General (formerly Highly Skilled Migrant Programme) visa applications and can assist those highly skilled individuals that either wish to apply or extend a Tier 1 General Visa.
For more Information call Commonwealth Contractors now on 0330 390 9021 or Submit your Details and we will get right back to you. Please see other areas of the Commonwealth Contractors site for interesting articles on tax, immigration and contracting.