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Any specified date to invest £50000?

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

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divchopra
Junior Member
Posts: 69
Joined: Tue Jul 09, 2019 4:27 am

Any specified date to invest £50000?

Post by divchopra » Sat Jul 24, 2021 8:54 am

Hello members,

I got my Tier 1 entrepreneur visa in February 2020. My business had just started then and I was purchasing raw materials and stuff. I was spending on business activities. After I got my visa, covid happened in sometime and I didn’t invest any money into my business bank account from my personal bank account. The reason being I already had some money to run business at that point in time and I didn’t wanted to put any more money because of covid restrictions and the lockdown. So my business went downhill in covid and it has been up and down ever since. Meanwhile I got a BB loan as well last year which I used in business expenses. All this time I didn’t invest anything from my £50000. My logic was I already have money in my business bank account and I don’t need more just now. I completely forgot to take into account the formality for transferring money for tier 1 extension. I still have 1 and a half year left before my extension. Now my question is can i invest those £50000 now? Will Ukbi ask my why didn’t I invest anything from that in one and a half year? Will I be able to attach a note with my application that I did not invest the said amount until this period because of all the reasons i mentioned. Will this be okay? Or will ukbi think of my business not being genuine. PS my business is quite genuine and I really want to expand it. Although it’s in loss during covid. It’s an online retail company and we couldn’t work during lockdown. Will that affect my application too?

Thank you.

User avatar
marcnath
Moderator
Posts: 6478
Joined: Tue Jul 03, 2012 2:27 pm
Location: Milton Keynes

Re: Any specified date to invest £50000?

Post by marcnath » Sat Jul 24, 2021 9:25 am

divchopra wrote:
Sat Jul 24, 2021 8:54 am
Hello members,

I got my Tier 1 entrepreneur visa in February 2020. My business had just started then and I was purchasing raw materials and stuff. I was spending on business activities. After I got my visa, covid happened in sometime and I didn’t invest any money into my business bank account from my personal bank account. The reason being I already had some money to run business at that point in time and I didn’t wanted to put any more money because of covid restrictions and the lockdown. So my business went downhill in covid and it has been up and down ever since. Meanwhile I got a BB loan as well last year which I used in business expenses. All this time I didn’t invest anything from my £50000. My logic was I already have money in my business bank account and I don’t need more just now. I completely forgot to take into account the formality for transferring money for tier 1 extension. I still have 1 and a half year left before my extension. Now my question is can i invest those £50000 now? Will Ukbi ask my why didn’t I invest anything from that in one and a half year? Will I be able to attach a note with my application that I did not invest the said amount until this period because of all the reasons i mentioned. Will this be okay? Or will ukbi think of my business not being genuine. PS my business is quite genuine and I really want to expand it. Although it’s in loss during covid. It’s an online retail company and we couldn’t work during lockdown. Will that affect my application too?

Thank you.
You can invest anytime before the extension date.
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.

divchopra
Junior Member
Posts: 69
Joined: Tue Jul 09, 2019 4:27 am

Re: Any specified date to invest £50000?

Post by divchopra » Sat Jul 24, 2021 9:32 am

Thank you Marcnath. But would they not ask or be cautious of the fact I did it after one and half years? Like I didn’t invest even one penny before that from the fund. Should I give an explanation that I already had money in my bank to do transactions? Or no need to give any explanations

User avatar
marcnath
Moderator
Posts: 6478
Joined: Tue Jul 03, 2012 2:27 pm
Location: Milton Keynes

Re: Any specified date to invest £50000?

Post by marcnath » Thu Jul 29, 2021 8:34 pm

divchopra wrote:
Sat Jul 24, 2021 9:32 am
Thank you Marcnath. But would they not ask or be cautious of the fact I did it after one and half years? Like I didn’t invest even one penny before that from the fund. Should I give an explanation that I already had money in my bank to do transactions? Or no need to give any explanations
There is no requirement to give any explanations until the ask. If they want to know, they will ask.
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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