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Is it compulsary to transfer money from sponser 2 Busines Ac

Only for UK Tier 1 (Entrepreneur) points system. This route is now closed to new applicants.

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red poltergeist
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Posts: 55
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Is it compulsary to transfer money from sponser 2 Busines Ac

Post by red poltergeist » Tue Jul 21, 2015 1:50 pm

Hi,
I have a question, Is it compulsory to transfer funds to your business account from the initial sponsor who agreed to transfer the money?
In my case I have started the business (an IT Limited company) and started making enough money and I did not require the initial sponsor's money and I am on course to complete more than 50k investment and meet the Employment creation category also.

so Do I really have to transfer money from my original Sponsor who is from India to my business account even though I have invested the 50K and don't need the sponsors money any more.

Please clarify me this.

red poltergeist
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Posts: 55
Joined: Wed Aug 28, 2013 9:49 am

Re: Is it compulsary to transfer money from sponser 2 Busine

Post by red poltergeist » Tue Aug 11, 2015 12:56 pm

Admins any idea regarding my question?

Please let me know about it.

Thanks

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julesxander
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Joined: Thu Oct 06, 2011 11:55 pm
Location: United Kingdom

Re: Is it compulsary to transfer money from sponser 2 Busine

Post by julesxander » Wed Aug 12, 2015 11:09 am

Yes

n8net
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Re: Is it compulsary to transfer money from sponser 2 Busine

Post by n8net » Fri Aug 14, 2015 10:12 am

should the transfer been taken place within a certain period ? or is it ok by the time of extension, money is transfereed ?

n8net
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Re: Is it compulsary to transfer money from sponser 2 Busine

Post by n8net » Mon Aug 24, 2015 10:19 am

any gurus with advice please ?

legalkhan
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Joined: Thu Jul 03, 2014 10:25 pm
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Re: Is it compulsary to transfer money from sponser 2 Busine

Post by legalkhan » Tue Aug 25, 2015 9:49 am

Well,
I don't believe its compulsory as long as you have made the required investment and have got all the relevant investment documents/management accounts. For initial application these things do matter i.e sponsor/own money etc. but after getting visa, it really doesn't matter. It could be possible that the sponsor cease the availability of money at certain point due to some reason in such case you would definitely arrange the remaining money some where else. Common sense says that UKVI should be interested in investment not in your sponsor as long as have all the investment docs.

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