Source of funds for Tier 1

Hi all. Been following this forum and found a lot if helpful information when applying both times. Thank you so so much all taking time to answer.

My issue is. I am on 50K route. Since June 2020. My business plan was initially a food takeaway. But for covid I had to chill for a while and meanwhile was a self employed for one 3d party and provided services as a one man band Ltd to another third party. The first question is if I can be a self employed at all as now I gave started to doubt it.

The second question is I tried to send several times my own 100% clear funds (my savings from working in a big international company) from Russia to here and for whatever reasons the funds were all the time returned by the correspondent bank without explanations. So my friend provided a declaration for me that she will invest in my business. Now because of covid her situation has changed anyway and she cannot do it any longer.
Meanwhile I brought some 20K during my flights (up to 10K usd in any currency is allowed) and earned an additional +20K on them on shares and crypto (on hsbc and binance platforms, so all transparent). Plus I earned some money while working and paying myself dividends and I keep saving and will shortly have 50K, but I am ready to invest part already.

So the second question is if the money earned inside the country is OK to be invested as a directors' loan. Is it a problem that part of this money came in an airplane (remember I had no choice and in case of necessity I can show failed multiple transfers as well as statements of withdrawing money before flights as well as a statement of the bank that the money is clear (the bank is one of top 3 banks in Russia, so a reputable one)? Is it a problem that some other part of funds come as dividends from the company in which I will invest?

Thank you in advance!!! You are doing a great job

Likana wrote: ↑

Thu May 06, 2021 3:51 am

Hi all. Been following this forum and found a lot if helpful information when applying both times. Thank you so so much all taking time to answer.

My issue is. I am on 50K route. Since June 2020. My business plan was initially a food takeaway. But for covid I had to chill for a while and meanwhile was a self employed for one 3d party and provided services as a one man band Ltd to another third party. The first question is if I can be a self employed at all as now I gave started to doubt it.

Yes, you can be self employed. But it depends on what the nature of self employment is. If it is similar to a job (delivery for Amazon, for example) then you have already breached the terms of your Visa.

Likana wrote: ↑

Thu May 06, 2021 3:51 am

The second question is I tried to send several times my own 100% clear funds (my savings from working in a big international company) from Russia to here and for whatever reasons the funds were all the time returned by the correspondent bank without explanations. So my friend provided a declaration for me that she will invest in my business. Now because of covid her situation has changed anyway and she cannot do it any longer.
Meanwhile I brought some 20K during my flights (up to 10K usd in any currency is allowed) and earned an additional +20K on them on shares and crypto (on hsbc and binance platforms, so all transparent). Plus I earned some money while working and paying myself dividends and I keep saving and will shortly have 50K, but I am ready to invest part already.

So the second question is if the money earned inside the country is OK to be invested as a directors' loan. Is it a problem that part of this money came in an airplane (remember I had no choice and in case of necessity I can show failed multiple transfers as well as statements of withdrawing money before flights as well as a statement of the bank that the money is clear (the bank is one of top 3 banks in Russia, so a reputable one)? Is it a problem that some other part of funds come as dividends from the company in which I will invest?

Thank you in advance!!! You are doing a great job

Yes, money earned in the country and money brought in personally is fine

Thank you for the reply! So can I be self employed as translator /interpreter / doing marketing researches and other admin stuff for two companies with monthly fees from each and an uber type of real estate viewing agent for another company (meaning picking up orders posted online and I earn as much as I have picked up)? Two different activities / three clients together make it obvious it is self employed, don't they?

Thank you!!!

Likana wrote: ↑

Sat May 08, 2021 11:45 am

Thank you for the reply! So can I be self employed as translator /interpreter / doing marketing researches and other admin stuff for two companies with monthly fees from each and an uber type of real estate viewing agent for another company (meaning picking up orders posted online and I earn as much as I have picked up)? Two different activities / three clients together make it obvious it is self employed, don't they?

Thank you!!!

It is very difficult to say unless you go into the details of the work you are doing and how you are doing it.
But the examples you have quoted can be in breach of the Visa conditions.
Go through Annex A, clause A41 in the guidance.

Thank you a million times!