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The financial requirement for your UK working holiday visa has changed

by Sam Hopwood | Oct 25, 2017
  • The Tier 5 working holiday visa is a popular way for young Aussies to gain work experience in the UK and to travel throughout Europe. The UKVI has just made a significant change to the visa’s financial requirements. We go into the details of this change below.
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    The basic UK working holiday visa requirements

    The requirements for the Tier 5 visa are relatively easy to satisfy. To qualify for this visa, you must:

    • Be between 18 and 30 years old
    • Hold a passport from a participating country (like Australia or New Zealand)
    • Have £1,890 available to you

    You don’t qualify if:

    • You have children who you are responsible for
    • You have already been to the UK on this visa

    So, what’s changed?

    Previously, the financial requirement was that you had to have £1,890 available to you. UKVI have now altered this requirement. The amount is still the same, but you now need to have at least £1,890 in a bank account, in your name, for at least 90 days prior to your application to qualify for a Tier 5 visa.

    This means that you’ll need to plan ahead and ensure that you have saved adequately prior to applying for your visa. The earliest you can apply for your visa is six months before you travel. Once you have applied for your visa, you should get a decision within three weeks. We recommend that you make sure you have the funds in your bank account well in advance and apply for your visa as soon as possible to avoid unexpected delays.

    What you can and can’t do on your working holiday

    This visa allows you to enter and exit the UK as you please and Australian passport holders can travel around Europe’s Schengen area for 90 days within a 180-day period. This is what makes it great for those wanting to travel around Europe during their working holiday.

    You are also allowed to study (so long as this is not your main purpose for being in the UK), and work in most jobs except as a professional sportsperson or doctor or dentist in training - unless you qualified in the UK. You may not access public funds, bring dependants with you or extend your stay once your visa has expired.

    Get your working holiday off to a cracking start

    It’s often difficult to know where to begin planning for something like a two-year working holiday. How do you find a job? Get a UK bank account? Sort out accommodation? What if you forget something important? Fear not. We have a comprehensive solution to settle your relocation concerns.

    Our Tier 5 visa Kickstart package includes specialist help with your Tier 5 visa application, UK bank account set up, accommodation help, job assistance, a UK mobile SIM card as well as a guide to living and working in the UK. We take the stress out of moving to the UK. You’ll have absolutely everything you need to get your life in the UK off to the best possible start.

    To get your life in the UK off to the best possible start, get in touch with our Australian office on ausoffice@1stcontact.com.au or +61 3 8651 4500

    We are a professional services company that specialises in cross-border financial and immigration advice and solutions.

    Our teams in the UK, South Africa and Australia can ensure that when you decide to move overseas, invest offshore or expand your business internationally, you’ll do so with the backing of experienced local experts.

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