Sunday 18 March 2018

Visas and their respective Financial Obligations

Cost of living calculator


In the study task set we have to calculate our yearly expenses. I have found out that my yearly expenses in Leeds as a student is £11,384.

However, my concern is not in how much money I spent per year. It is amount of money that I have to earn written in the visa requirements to stay in the UK.


Tier 1 (Graduate Entrepreneur) visa

Just found out from an email that the university is giving an opportunity for international students to pitch their business ideas. They will endorse someone with genuine and credible business ideas to stay for a year (can be extended) in the UK with Tier 1 graduate entrepreneur visa. If I got the endorsement, life will be bliss as the financial obligation is much more less than what is required in the Tier 2 visa.

Application:
  • 3 months before student visa ends, 8 weeks process.
  • The visa fee is £493 with additional NHS surcharge of £200. £693 in total.
Eligibility:
  • University degree
  • Endorsement letter from Leeds Arts University
  • Bank statement with £945 savings in the past 3 months prior to application


Tier 2 (General) Working visa
stay for 3 years

Application:
  • 3 months before student visa ends, 8 weeks process.
  • Online visa fee is £704 with NHS surcharge of £600. £1,304 in total.
Eligibility:
  • For artists to apply for Tier 2, we have to earn £23,200 a year.
  • Meanwhile average pay for new entrants are £18,600 per year.
  • Bank statement with £945 savings in the 3 months prior to application or more than £945/mo. salary stated in the certificate of sponsorship.
  • Certificate of sponsorship from fully approved ('A-rated') sponsor by the Home Office.

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