5. Access to £200,000 investment funds

I am Applying with my partner for "Tier 1 (Entrepreneur) if you have access to £200,000". My Partner has the £200k in his individual account and we both are applying as partners visa. i only have the right amount of maintenance funds available in my account. Can we both apply for the visa sharing the partners £200k. we can get the bank letter from a recognized bank in the required format.

MY confusion is from the clause 3 underlined(see below)

Please advise

"5. Access to £200,000 investment funds
You can apply for a Tier 1 (Entrepreneur) if you have access to £200,000 in investment funds and you can prove that the money is either:

1) Your own
2) Made available to you by other people (‘third parties’) - eg a husband, wife, partner or investor
3) In a joint account with your spouse or partner but only if they aren't applying for a Tier 1 (Entrepreneur) visa"

https://www.gov.uk/tier-1-entrepreneur/ ... ment-funds

its better if you will have joint account and £200000 will be in that account.

msohailsarwar1 wrote:its better if you will have joint account and £200000 will be in that account.

according to the 3rd point i cannot have a joint account with a person who is applying for UK Tier 1 Entrepreneur visa (as per my understanding of the 3rd point)

others please advise

thats ok as well but to make your application more effective and reducing the chances of refusal thats good option.

mbilal77 wrote: 3) In a joint account with your spouse or partner but only if they aren't applying for a Tier 1 (Entrepreneur) visa"

I believe anywhere you see the wording "your husband, wife or partner" or in other way "your spouse or partner" it means Civil Partner and not business partner.

You said you can get the format exactly as they need from bank in UAE? Just an advise to double check that, in fact, if the bank said they will give these letters now, get it now so you can check what is being typed and the format.

Even if you are not going to use these letters now. At least later on, you can show them the ones they already issued and ask them to issue it again with different date and balance details.

Last i heard, none of the banks in UAE will change the format they have. In fact, none of the banks will write a letter saying they are recognized and registered by the local authority. So if they told you now they will help you in the future, get it now as if you are going to apply just to see if they will do it or not.

Ideally, you both should have 100K on separate accounts, and get both letters. Better if joint account with the whole amount and one set of docs showing both names.

Check the forum as some people here got refused because the other account does not mention their names. Of course it won't, the bank have account with Mr. X, will issue letters saying Mr. X. They will never put Mr. Y on the balance cert. or statement even if Mr. X said its ok! The name needs to be added to the account itself so it can be added on the letters.

Basically, they are saying that if £200,000 is in joint account, you can use that funds for your Tier 1 Entrepreneur. BUT you cannot use that same money if your spouse is also applying for the same Visa using same funds.

NAR wrote:

mbilal77 wrote: 3) In a joint account with your spouse or partner but only if they aren't applying for a Tier 1 (Entrepreneur) visa"

I believe anywhere you see the wording "your husband, wife or partner" or in other way "your spouse or partner" it means Civil Partner and not business partner.

You said you can get the format exactly as they need from bank in UAE? Just an advise to double check that, in fact, if the bank said they will give these letters now, get it now so you can check what is being typed and the format.

Even if you are not going to use these letters now. At least later on, you can show them the ones they already issued and ask them to issue it again with different date and balance details.

Last i heard, none of the banks in UAE will change the format they have. In fact, none of the banks will write a letter saying they are recognized and registered by the local authority. So if they told you now they will help you in the future, get it now as if you are going to apply just to see if they will do it or not.

Ideally, you both should have 100K on separate accounts, and get both letters. Better if joint account with the whole amount and one set of docs showing both names.

Check the forum as some people here got refused because the other account does not mention their names. Of course it won't, the bank have account with Mr. X, will issue letters saying Mr. X. They will never put Mr. Y on the balance cert. or statement even if Mr. X said its ok! The name needs to be added to the account itself so it can be added on the letters.

I think the below applies to my case. Can someone please further clarify

Sharing investment funds

You can form an ‘entrepreneurial team’ with one other Tier 1 (Entrepreneur) applicant and share the same investment funds.

You and your team member must meet all the application requirements and:

not use the same funds on another application with a different entrepreneurial team
provide all the documents needed for evidence of the funds with your own applications

https://www.gov.uk/tier-1-entrepreneur/eligibility

mbilal77 wrote: I think the below applies to my case. Can someone please further clarify

Sharing investment funds

You can form an ‘entrepreneurial team’ with one other Tier 1 (Entrepreneur) applicant and share the same investment funds.

You and your team member must meet all the application requirements and:

not use the same funds on another application with a different entrepreneurial team
provide all the documents needed for evidence of the funds with your own applications

https://www.gov.uk/tier-1-entrepreneur/eligibility

It does apply to everyone applying for ent. team. Which part of that is not clear?

Sharing funds mean available for both of you. same funds on another application mean you or your partner can't apply on any other application at the same time, only this ent. team application and the funds to be used for this ent. team only.

Again, i highly recommend you talking to a specialist so you understand everything as the above statement should be clear and you are still in the very early stages

why dont your partner apply for this visa and you apply as dependent. So it will make case worker life and your life easy.

umarjee4u wrote:why dont your partner apply for this visa and you apply as dependent. So it will make case worker life and your life easy.

I think he means Business Partner. He did not reply on that question but i am almost certain he is not referring to his wife/spouse or civil partner. For people living in UAE, partner only means business partner.

umarjee4u wrote:why dont your partner apply for this visa and you apply as dependent. So it will make case worker life and your life easy.

As partner i mean a business partner and he is also my brother

Thanks NAR