you are misinterpreting their rules a bit here. Yes - the £5M in a bank account is meaningless to them (but puts you well on your way to wealthy global citizen LTR) but if structured to provide regular passive income in the form of dividends or interest, it counts as passive income for LTR-WP.
So if earning £80k from work, it’s also doesn’t count. The $80k income must be passive and not earned. Overall, the BOI is there to assist. They can advise in what they can accept or not and help facilitate the process. Very helpful.
And yes, with an original target of 1 million, I’m surprised the criteria hasn’t been adjusted a bit more by now
are you under the impression that has anything to do with this conversation? 😂😂😂 and the answer to your query, is yes. Many require banking setup in conjunction with residency or long term visas.