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Maintenance funds and Bank Statements

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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tier1lad
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Joined: Mon Nov 02, 2020 4:21 pm
Australia

Maintenance funds and Bank Statements

Post by tier1lad » Mon Nov 02, 2020 4:40 pm

Hi all,

I am eligible to switch to the tier 1 entrepreneur visa as I had the tier 1 graduate entrepreneur visa before switching to the start up visa (which will expire around December 2020)

I have had the funds in my personal bank account for the required 90 days period; and have put the £50k and added an extra £2k for the maintenance funds. So my UK account is holding £52k and I intend on applying for the visa in the UK. I do not have any dependents.

I came across this in the guidance today "They cannot use the same funds to score points for investment funds and to score points for maintenance funds (for themselves or their dependents)"

Does this mean that the £50k should have been in one account for atleast 90 days and the £950 maintenance funds should have been in another account?

Or is submitting the £52k in statements covering more than 90 days good enough to prove investment funds and maintenance?

And the second question is how long after paying for the application online will i have to upload the bank documents? Currently Barclays Bank is being a nightmare in terms of getting a human to sign electronic statements.

Thanks

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zimba
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Re: Maintenance funds and Bank Statements

Post by zimba » Tue Nov 03, 2020 4:01 pm

No. It does not mean they should be in separate accounts. It simply means that the total money must be above the funds + maintenance requirement as you have now. The bank statements must be within 30 days of application submission date online
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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