Financial Requirment

Was just wondering what are the chances of securing a visa if you meet all the requirements but fall short on the financial requirement.
Any help regarding this will be much appreciated.
Kind regards
Chris.

Not very good, unfortunately.

Take a look at the thread below Chris;

http://www.british-filipino.com/index.php?threads/the-schengen-visa-all-you-wanted-to-know.3082/

This is an option for you.

How far are you short? Do you have savings? Can you do overtime to make up the shortfall?

As Graham says, it is mandatory to meet the financial requirments one way or another.

Hi, there. I just want to asked, what exact documents he should provide.
The situation is:
He is the Director of the Company, and also he also has contract worked. Is he a SELF EMPLOYED or EMPLOYED?.
We are getting the Documents for his EMPLOYED financial Requirments.
>payslips
>certificate of Employment
>accountant (income and tax)
the thing there is I was confused with his Payslips. Not that reliable i think. He is the director so he transfer in his account his wages, and the expenses is also in different accounts, as well as loans are been transferred in different. I was confused, his wages tax is only included other expenses is not included. His wages slip, expenses is not included. How it comes? How he will provide a wages slip without less deduction? lols im really confused with his wages slip he provide.
He talked his Accountant. His account will provide a letter saying his income is above 18600, and provide a Dividend Certificate. I was also disappointed with his accountant always saying I will send this documents tomorrow, but nothings arrived.

PLEASE ADVIDE ALL.
Im afraid we will go to an Agent for ASSISTANCE with them....

It does sound as if your partners accountant needs to provide the necessary financial detail. And to you, as it is your application.

If he is director of a company, he would then, I believe, pay himself a salary and be employed by the company.

That is why we dont know exactly the documents we got is correct. His accountant already provide a dividend, letter that he has more than 18600 in his income, and the secretary already provide a payslip that expenses is not included. How we can get a documents to proof that in his wages Expenses is included??.. Do we also need to provide an expenses slips? I really dont know. What exact documents we will get. is the Dividend is already enough to proof his financial requirments??..

Please Advise.

Mahargs advice is good.

Yes, that is right Maharg. what should the right documents we should get??.. The SELF EMPLOYED OR EMPLOYED??.. He already got his Dividend from his Accountant. But I was thinking you cant have this Dividend from accountant if you are only Employed??.. Im worried we also need to comply a documents for SELF EMPLOYED??...

What we should do? Pleased advise??

You really need to get to grips with what is required in the self employed section of the visa form, follow it step by step, it explains in detail what paperwork is required if you are self employed. If he is self employed then he will be paying tax and issuing himself payslips (they will be showing a low payment, to avoid tax). In addition to this he will pay himself a dividend which also counts as his salary but is taxed at a lower level. His expenses should be paid into a different account and do not form part of his earnings, but he can claim VAT back if he is VAT registered. I am about to become self employed and I'm making sure that the first FLR is out of the way first as I too will have to get to grips with the ins and outs of self employment.

What does your Fiancée say about all this? It should be him who is sorting it all out for you as he cannot expect you in the Philippines to be an expert. Between you, your chap and his accountant you should be able to amass the correct paperwork which will satisfy the Case Officer reviewing your visa application.

Good luck

Yes. I feel that the accountant needs to be doing his bit here too. Problem is that he works for your partner and not for you, Shengsei.

Needs some teamwork, I feel for Shengsei as she just wants everything to go smoothly with the visa. You want as few doubts as possible about when you submit the application, its a lot of money and its a lot of hassle to go through. If I'd been self employed for a while I could have helped her out.

Yes. Frustrating for Shengsei.

His Dad suggested to go on being employed. he is sorting all documents for being Permanently employed in his company. They figure out if he go on SELF EMPLOYED they have lots of Documents needed unlike the Employed documents. Im still in doubt, really not sure is it all correct. Well we just follow the UKVA financial requirments for being Employed in his company. The thing there that really confused me is his Wages and Expenses? How we can sort it out? is the Divedend is already enough to show his income?.. he dont need the payslips and the expenses slip??...

Yes JA he works for my partner ofcourse since my partner is doing all the documents for me...

Like Timmers says, the expense slips arent relevant to the application.

Really so frustrating, And i need more of your Advise here guys... if the dividend is enough to prove his income, so that means we are done??.... ohhhh gzzzzzz... i dont know if its all correct. Well in the Supporting documents for Financial Requirments need for Employed they only asked
1.Bank statements or bank books
2.Bank letter or balance certificate
3.Payslips
4.Tax returns (business or personal) ---- which is his Dividends

Is that all documents correct??..

is this documents is enough?? no need to proof that his expenses is not included on his payslip??.. because his payslip is only 1200 monthly and he said expenses is not included there, which mean he has other accounts for expenses. So expenses is arent relevant?...

Expenses arent counted as income.

His payslips plus dividend would surely be what needs to included in the visa application.

Again, the accountant would know this.