Proof of invested funds

Hi All,

I'd like to hear your views on the UKBA policy for Tier 1 Entrepreneur using £50K from a venture capital firm.

In theory, to get the visa, you only need to prove that a legitimate VC is WILLING to invest £50K in your business. You don't actually need to show their money in your business account.
Say that I get the visa, but never take the money from the VC. Would it be possible to then go and invest £50K of my own money in my business during the first 3 years, and when the time comes to extend it, show the UKBA that £50K have indeed been invested? I haven't seen anywhere in the guidance that you need to show that this money was RECEIVED from the VC.

What are your views?

Many thanks,
Alex

HMM yes true, there are no such specific requirement to show that money was received from VC. However, as u still need to produce accountant letters etc. So what accountant write in his letter? that you(Mr. ...) have made investment of 50k not VC name (as chartered accountant will never write VC name if money been not transfered from VC account). So if the case worker will check and compare your extension application with intial application, then it might alert him.

mrubin wrote:Hi All,

I'd like to hear your views on the UKBA policy for Tier 1 Entrepreneur using £50K from a venture capital firm.

In theory, to get the visa, you only need to prove that a legitimate VC is WILLING to invest £50K in your business. You don't actually need to show their money in your business account.
Say that I get the visa, but never take the money from the VC. Would it be possible to then go and invest £50K of my own money in my business during the first 3 years, and when the time comes to extend it, show the UKBA that £50K have indeed been invested? I haven't seen anywhere in the guidance that you need to show that this money was RECEIVED from the VC.

What are your views?

Many thanks,
Alex