Investment funds - 200K (Overseas)

Hi,

I am planning to apply for Tier 1 Ent under the 200K category. I was hoping a family friend of mine would sponsor the investment funds(it is still being negotiated).I know the UKBA guidance clearly articulates that the applicant can be asked that investment funds are continually available until invested in UK.

Apologies if these questions are answered elsewhere on this forum, but I wasn't able to find straightforward answers:

1. What verification UKBA can/will do to check if the funds are available post submitting the application?
2. In what other ways can UKBA ask the applicant to prove the existence of funds?
3. Are there any recent cases where UKBA did such a verification?

Just to clarify to those concerned, my sponsor is an active businessman and he advised me that there can be some instances where the account balance can go under 200K to rotate funds in his business. He wanted to check if prior notice is given for any such verification.

Thanks

VijayaM27 wrote:Hi,

I am planning to apply for Tier 1 Ent under the 200K category. I was hoping a family friend of mine would sponsor the investment funds(it is still being negotiated).I know the UKBA guidance clearly articulates that the applicant can be asked that investment funds are continually available until invested in UK.

Apologies if these questions are answered elsewhere on this forum, but I wasn't able to find straightforward answers:

1. What verification UKBA can/will do to check if the funds are available post submitting the application?
2. In what other ways can UKBA ask the applicant to prove the existence of funds?
3. Are there any recent cases where UKBA did such a verification?

Just to clarify to those concerned, my sponsor is an active businessman and he advised me that there can be some instances where the account balance can go under 200K to rotate funds in his business. He wanted to check if prior notice is given for any such verification.

Thanks

1) they can verify by the bank through post.
2) they can ask for a recent bank letter stating funds are available.
3) not sure.

Thanks for your reply.

By Post? - Not so sure. Wouldn't they require some sort of authrorization to be able to access someone else's bank account.

VijayaM27 wrote:Thanks for your reply.

By Post? - Not so sure. Wouldn't they require some sort of authrorization to be able to access someone else's bank account.

They will verify the letter from the bank. Not the balance =]

Thanks.

Do they contact the branch/person that issued the letter or will they contact any branch? Now that everything is centralised wondering what they would do?

VijayaM27 wrote:Thanks.

Do they contact the branch/person that issued the letter or will they contact any branch? Now that everything is centralised wondering what they would do?

The head office offcourse I myself am a banker by profession.