can i use third party funds (£50000)

Hi
there i am intending to apply for tier 1 entrepreneur visa next month I have been registered as a director of company before 10th July changes of new visa rules for entrepreneur visa but my concern is can i still use £50000 funds from third party.
Company is active with business account and been operating since 2013.
please share your valuable thoughts on this matter

Kind regards

Shaqil

Hi
my post work study visa expired 9/12/2013 but before then i submitted an FLRO(further leave to remain on other discretionary grounds) application requesting for extension in order to apply for Tier 1 entrepreneur visa. This was refused in Feb 2014 stating that my 4 years in the UK does not merit me the grounds for extension. I appealed and was given a hearing date of October 2014. My plan was to get the 50,000, withdraw the appeal and make the Tier 1 entrepreneur visa application. However, I was cut out by the new changes and had only registered the business i want to you on 14/07/2014 because i did not get wind of the changes in time plus my maintenance funds will be 90 days by august.

from what i understand of the new rules, if i don't have a business that was set up and has been trading before 1 july 2014, then the 50, 000 can not be from personal source but from seed money or venture capital. Please can you clarify if this is truly so and would i be refused if i apply for the visa with a business sept up only after 1/07/2014 and with personal 50,000?

secondly, i had a previously business opened January 2013 but is currently showing on the companies house website as'' Dissolution on first Gazette''. I have not submitted any corporate tax on this and my dead line for paying tax is not until Oct 2014. If am able to make a tax return on this business and remove it from showing as dormant, will i be able to used this business in place of the new one as proof that i have a trading business that was exiting before 1/07/2014?

i will be grateful if you can give a response to these
Thanks
Uche

shakildcm wrote:Hi
there i am intending to apply for tier 1 entrepreneur visa next month I have been registered as a director of company before 10th July changes of new visa rules for entrepreneur visa but my concern is can i still use £50000 funds from third party.
Company is active with business account and been operating since 2013.
please share your valuable thoughts on this matter

Kind regards

Shaqil

Hi Shaqil, first of all best of luck for applying the Tier 1 Entrepreneur visa next month, as you told you a able to use £50000 fund of third party , so off course you can you are able to use third party fund according to new rules, the condition is only you have engage and active business before 11 July 2014, as you mention that you also attached with this processes, and then you are able to use third party fund, in UK and Overseas as well, but this time you have to prepare the documents very carefully, you have to prepare more documents and evidence this moment. if you have any questions or confusion about your documents you can connect me through PM. once again Best of Luck.