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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bbbrian
- Newly Registered
- Posts: 4
- Joined: Fri Nov 16, 2018 12:45 pm
Post
by bbbrian » Fri Nov 16, 2018 12:52 pm
Hi,
I am new to the forum. I just register as an director and when I transferred my 200k fund I transferred to our accountant company business account. And then from the accountant business account, they transfer the fund to company fund.
The accountant company is the company that we cooperate for years. But they served many other companies so they are not able to provide the bank statement only the confirmation letter of saying receiving fund from someone at some specific date.
Both me and our company can provide the bank statement of showing me sending money to accountant and showing accountant sending money to company.
Is that eligible for the regulations and for extension?
Many thanks,
Blaine
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marcnath
- Moderator
- Posts: 6480
- Joined: Tue Jul 03, 2012 2:27 pm
- Location: Milton Keynes
Post
by marcnath » Fri Nov 16, 2018 1:59 pm
bbbrian wrote: ↑Fri Nov 16, 2018 12:52 pm
Hi,
I am new to the forum. I just register as an director and when I transferred my 200k fund I transferred to our accountant company business account. And then from the accountant business account, they transfer the fund to company fund.
The accountant company is the company that we cooperate for years. But they served many other companies so they are not able to provide the bank statement only the confirmation letter of saying receiving fund from someone at some specific date.
Both me and our company can provide the bank statement of showing me sending money to accountant and showing accountant sending money to company.
Is that eligible for the regulations and for extension?
Many thanks,
Blaine
Are you investing as a Director's loan or Share capital ?
My comments are in no way meant to be advisory. I have no professional knowledge of immigration. These are based on my own experience, convictions and personal interpretation of publicly available information.
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bbbrian
- Newly Registered
- Posts: 4
- Joined: Fri Nov 16, 2018 12:45 pm
Post
by bbbrian » Fri Nov 16, 2018 4:07 pm
marcnath wrote: ↑Fri Nov 16, 2018 1:59 pm
bbbrian wrote: ↑Fri Nov 16, 2018 12:52 pm
Hi,
I am new to the forum. I just register as an director and when I transferred my 200k fund I transferred to our accountant company business account. And then from the accountant business account, they transfer the fund to company fund.
The accountant company is the company that we cooperate for years. But they served many other companies so they are not able to provide the bank statement only the confirmation letter of saying receiving fund from someone at some specific date.
Both me and our company can provide the bank statement of showing me sending money to accountant and showing accountant sending money to company.
Is that eligible for the regulations and for extension?
Many thanks,
Blaine
Are you investing as a Director's loan or Share capital ?
Investing as a Director's Loan
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marcnath
- Moderator
- Posts: 6480
- Joined: Tue Jul 03, 2012 2:27 pm
- Location: Milton Keynes
Post
by marcnath » Fri Nov 16, 2018 7:05 pm
bbbrian wrote: ↑Fri Nov 16, 2018 12:52 pm
Hi,
I am new to the forum. I just register as an director and when I transferred my 200k fund I transferred to our accountant company business account. And then from the accountant business account, they transfer the fund to company fund.
The accountant company is the company that we cooperate for years. But they served many other companies so they are not able to provide the bank statement only the confirmation letter of saying receiving fund from someone at some specific date.
Both me and our company can provide the bank statement of showing me sending money to accountant and showing accountant sending money to company.
Is that eligible for the regulations and for extension?
Many thanks,
Blaine
The requirement is that -
the investment must be shown through readily identifiable transactions in your business bank statements, which must clearly show the transfer of this money from you to your business
The easiest way to meet the requirements is for your name to be against each of the investment transactions in the business bank statement.
I hope that is the case.
If that is not there, it is a little bit more complicated. You would have to provide the documentation to link whatever reference is in the bank statement to your name. It may be better to convert the DL into Share Capital for which you don't need to provide Bank Statements at all. Talk to your accountant about that.
My comments are in no way meant to be advisory. I have no professional knowledge of immigration. These are based on my own experience, convictions and personal interpretation of publicly available information.
-
bbbrian
- Newly Registered
- Posts: 4
- Joined: Fri Nov 16, 2018 12:45 pm
Post
by bbbrian » Fri Nov 16, 2018 8:29 pm
marcnath wrote: ↑Fri Nov 16, 2018 7:05 pm
bbbrian wrote: ↑Fri Nov 16, 2018 12:52 pm
Hi,
I am new to the forum. I just register as an director and when I transferred my 200k fund I transferred to our accountant company business account. And then from the accountant business account, they transfer the fund to company fund.
The accountant company is the company that we cooperate for years. But they served many other companies so they are not able to provide the bank statement only the confirmation letter of saying receiving fund from someone at some specific date.
Both me and our company can provide the bank statement of showing me sending money to accountant and showing accountant sending money to company.
Is that eligible for the regulations and for extension?
Many thanks,
Blaine
The requirement is that -
the investment must be shown through readily identifiable transactions in your business bank statements, which must clearly show the transfer of this money from you to your business
The easiest way to meet the requirements is for your name to be against each of the investment transactions in the business bank statement.
I hope that is the case.
If that is not there, it is a little bit more complicated. You would have to provide the documentation to link whatever reference is in the bank statement to your name. It may be better to convert the DL into Share Capital for which you don't need to provide Bank Statements at all. Talk to your accountant about that.
I am afraid it is the latter case. I understand change into share maybe a better way to solve this. But can you specify a little bit about the documents I need if I stayed as director loan?
Many thanks
-
marcnath
- Moderator
- Posts: 6480
- Joined: Tue Jul 03, 2012 2:27 pm
- Location: Milton Keynes
Post
by marcnath » Fri Nov 16, 2018 8:55 pm
bbbrian wrote: ↑Fri Nov 16, 2018 8:29 pm
marcnath wrote: ↑Fri Nov 16, 2018 7:05 pm
bbbrian wrote: ↑Fri Nov 16, 2018 12:52 pm
Hi,
I am new to the forum. I just register as an director and when I transferred my 200k fund I transferred to our accountant company business account. And then from the accountant business account, they transfer the fund to company fund.
The accountant company is the company that we cooperate for years. But they served many other companies so they are not able to provide the bank statement only the confirmation letter of saying receiving fund from someone at some specific date.
Both me and our company can provide the bank statement of showing me sending money to accountant and showing accountant sending money to company.
Is that eligible for the regulations and for extension?
Many thanks,
Blaine
The requirement is that -
the investment must be shown through readily identifiable transactions in your business bank statements, which must clearly show the transfer of this money from you to your business
The easiest way to meet the requirements is for your name to be against each of the investment transactions in the business bank statement.
I hope that is the case.
If that is not there, it is a little bit more complicated. You would have to provide the documentation to link whatever reference is in the bank statement to your name. It may be better to convert the DL into Share Capital for which you don't need to provide Bank Statements at all. Talk to your accountant about that.
I am afraid it is the latter case. I understand change into share maybe a better way to solve this. But can you specify a little bit about the documents I need if I stayed as director loan?
Many thanks
Page 30 of the Guidance document specifies it better than I can
My comments are in no way meant to be advisory. I have no professional knowledge of immigration. These are based on my own experience, convictions and personal interpretation of publicly available information.
-
bbbrian
- Newly Registered
- Posts: 4
- Joined: Fri Nov 16, 2018 12:45 pm
Post
by bbbrian » Mon Nov 19, 2018 2:22 pm
marcnath wrote: ↑Fri Nov 16, 2018 8:55 pm
bbbrian wrote: ↑Fri Nov 16, 2018 8:29 pm
marcnath wrote: ↑Fri Nov 16, 2018 7:05 pm
bbbrian wrote: ↑Fri Nov 16, 2018 12:52 pm
Hi,
I am new to the forum. I just register as an director and when I transferred my 200k fund I transferred to our accountant company business account. And then from the accountant business account, they transfer the fund to company fund.
The accountant company is the company that we cooperate for years. But they served many other companies so they are not able to provide the bank statement only the confirmation letter of saying receiving fund from someone at some specific date.
Both me and our company can provide the bank statement of showing me sending money to accountant and showing accountant sending money to company.
Is that eligible for the regulations and for extension?
Many thanks,
Blaine
The requirement is that -
the investment must be shown through readily identifiable transactions in your business bank statements, which must clearly show the transfer of this money from you to your business
The easiest way to meet the requirements is for your name to be against each of the investment transactions in the business bank statement.
I hope that is the case.
If that is not there, it is a little bit more complicated. You would have to provide the documentation to link whatever reference is in the bank statement to your name. It may be better to convert the DL into Share Capital for which you don't need to provide Bank Statements at all. Talk to your accountant about that.
I am afraid it is the latter case. I understand change into share maybe a better way to solve this. But can you specify a little bit about the documents I need if I stayed as director loan?
Many thanks
Page 30 of the Guidance document specifies it better than I can
Hi yes yes I have read the documents.
But my situation is I transferred my fund to company's accountant and accountant transfer to the business account. Now I have my and my business bank statement showing the fund and a confirmation letter from accountant stating that they received fund from me at some date. Is that will be fine for the process?
So many thanks!!
-
marcnath
- Moderator
- Posts: 6480
- Joined: Tue Jul 03, 2012 2:27 pm
- Location: Milton Keynes
Post
by marcnath » Mon Nov 19, 2018 2:55 pm
bbbrian wrote: ↑Mon Nov 19, 2018 2:22 pm
marcnath wrote: ↑Fri Nov 16, 2018 8:55 pm
bbbrian wrote: ↑Fri Nov 16, 2018 8:29 pm
marcnath wrote: ↑Fri Nov 16, 2018 7:05 pm
The requirement is that -
the investment must be shown through readily identifiable transactions in your business bank statements, which must clearly show the transfer of this money from you to your business
The easiest way to meet the requirements is for your name to be against each of the investment transactions in the business bank statement.
I hope that is the case.
If that is not there, it is a little bit more complicated. You would have to provide the documentation to link whatever reference is in the bank statement to your name. It may be better to convert the DL into Share Capital for which you don't need to provide Bank Statements at all. Talk to your accountant about that.
I am afraid it is the latter case. I understand change into share maybe a better way to solve this. But can you specify a little bit about the documents I need if I stayed as director loan?
Many thanks
Page 30 of the Guidance document specifies it better than I can
Hi yes yes I have read the documents.
But my situation is I transferred my fund to company's accountant and accountant transfer to the business account. Now I have my and my business bank statement showing the fund and a confirmation letter from accountant stating that they received fund from me at some date. Is that will be fine for the process?
So many thanks!!
As I tried to explain above, there is no clear specifications of what documents make something "
readily identifiable ". Normally people just transfer from their personal account to a business account, in which case their name or account number is there in the statement. But your case is not standard. So when something is not clearly defined, you can try and do that definition yourself. Talk to a lawyer who may be able to help better.
My comments are in no way meant to be advisory. I have no professional knowledge of immigration. These are based on my own experience, convictions and personal interpretation of publicly available information.
