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Transfer of funds & multiple businesses

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

Moderators: Casa, push, JAJ, ca.funke, Amber, zimba, vinny, Obie, EUsmileWEallsmile, batleykhan, meself2, geriatrix, John, ChetanOjha, archigabe

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ARiaz
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Posts: 55
Joined: Tue Nov 22, 2016 1:32 am

Transfer of funds & multiple businesses

Post by ARiaz » Thu Dec 08, 2016 9:52 pm

Dear Respected Gurus,

Need your thoughts on below points

1 - Do we need to provide personal BS to warrant transfer of funds into business account? or is it just business bank statement showing funds coming in

2- I am running 2 businesses , one is consultancy and other is training so would this be OK w.r.t extension purposes?

3- Lastly do we have to provide FPS submission logs or just FPS report?

Much appreciated :)

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zimba
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Re: Transfer of funds & multiple businesses

Post by zimba » Thu Dec 08, 2016 10:01 pm

1- If your name does not show in the business bank account better you send personal one too
2- One business is enough to score points, choice is yours
3- ONLY FPS reports generated by Payroll software showing starting dates and salary/tax payments
Advice is given based on my personal research and experience only. Do NOT contact me via private message for immigration advice

ARiaz
Junior Member
Posts: 55
Joined: Tue Nov 22, 2016 1:32 am

Re: Transfer of funds & multiple businesses

Post by ARiaz » Thu Dec 08, 2016 11:33 pm

zimba88 wrote:1- If your name does not show in the business bank account better you send personal one too
2- One business is enough to score points, choice is yours
3- ONLY FPS reports generated by Payroll software showing starting dates and salary/tax payments
Thanks Zimba for prompt response
Can I use both businesses for job creation points, like one job in each? Becasue I have one job sustained in consultancy business for 22 months and in 1 lasted 16 months full time in training business

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zimba
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Re: Transfer of funds & multiple businesses

Post by zimba » Thu Dec 08, 2016 11:44 pm

Yes but only under transitional arrangements.
Advice is given based on my personal research and experience only. Do NOT contact me via private message for immigration advice

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kaps84
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Joined: Tue Mar 03, 2015 12:12 pm

Re: Transfer of funds & multiple businesses

Post by kaps84 » Fri Dec 09, 2016 3:31 pm

zimba88 wrote:Yes but only under transitional arrangements.
Hi Zimba88, I think you mis read the question or is it me who mis-understood it.
Why can't we show 1 full-time job in each business (two here) for extension purposes? I guess it has nothing to do with transitional arrangements?

Your thoughts please.


Kind Regards,

Kaps84
-- Kaps84

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zimba
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Re: Transfer of funds & multiple businesses

Post by zimba » Sat Dec 10, 2016 12:00 am

Clarification: You can as long as each position in the company lasts at least 12 months (except for transitional arrangements)!
Advice is given based on my personal research and experience only. Do NOT contact me via private message for immigration advice

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