Buying property in the UK as a foreigner
The essential guide for foreigners buying property in the UK. Learn about fees, taxes, where to find property and a step-by-step guide to the process.
If you’ve been studying in the UK and are coming to the end of your course, you’ll be starting to think about what happens next. One of the options could be to stay in the UK, but you’ll need to sort a work permit or visa.
In this guide, we’ll cover all the essentials you need to know about the UK Graduate visa. This includes eligibility, how to apply and how much it costs.
Let’s start with a quick overview of what the UK Graduate visa actually is.
The UK offers a special Graduate visa for students. This gives you permission to stay in the UK for up to two years once you’ve completed your course¹.
This visa is only for students who studied in the UK, and you must still be in the UK when you apply¹.
If your visa application is successful, you’ll be able to¹:
There are certain criteria you’ll need to meet in order to apply for the UK Graduate visa. These include the following¹:
Graduates of most UK courses will be able to stay in the UK for a further two years if their visa application is successful¹.
For graduates of PhD or other doctoral qualification courses, the maximum period of time you can stay is extended to three years¹.
This time period starts from the day you receive confirmation that your visa application has been approved.
The only way to apply for this visa is online¹, through the UK Government website. You’ll need to provide a number of supporting documents, including³:
If your partner and/or children are applying with you, additional documents may be needed to prove your relationship.
Once you’ve submitted your application, it should take around 8 weeks to get a decision⁴.
There are some fees to pay to apply for the UK Graduate visa.
The initial application fee is £715, and you’ll also need to pay a healthcare surcharge of around £624 for every year you’ll be in the UK. So, if you’re staying 2 years, this works out at an additional £1,248⁵.
As an international student and then a graduate living in the UK, you’ll need a convenient, affordable way to manage your money between countries. After all, you may need to receive money from family to support your studies, or pay bills back home.
Open a Wise multi-currency account online and you can send money worldwide, for low fees and the mid-market exchange rate. Better still, you can receive money from another country for free (depending on the currency).
You can manage and convert 50+ currencies from one easy-to-manage account, and spend in 200 countries with the Wise debit card. So whether you’re visiting home, travelling worldwide or spending in the UK, you can do it all with Wise.
Sources used for this article:
Sources checked on 18-05-2022.
This publication is provided for general information purposes only and is not intended to cover every aspect of the topics with which it deals. It is not intended to amount to advice on which you should rely. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content in this publication. The information in this publication does not constitute legal, tax or other professional advice from TransferWise Limited or its affiliates. Prior results do not guarantee a similar outcome. We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date.
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