The answer is yes…potentially. Applicants have in some recent instances been approved on the basis of having these amounts available in savings, rather than in the form of passive income, yet in such cases, higher savings levels may be required.

It is important to note that this is a discretionary visa program, and that the minimum passive income requirements should be treated as an absolute minimum. However, each application is appraised individually: economic self-sufficiency can be proven in a variety of ways, however having stable passive income will maximise the probability of your application being successful. Furthermore, the exact program requirements may differ from one consulate to the next.