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50k in biz account or personal

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

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Cc143
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Posts: 7
Joined: Mon Feb 10, 2014 11:16 pm

50k in biz account or personal

Post by Cc143 » Wed Feb 26, 2014 8:04 pm

I have had my biz running for about a year and I have generated a round 50k. To send in a fresh application, is the 50k to be in ,y personal account or can I leave it in my biz account ?

2) maintenance funds- can this also be in my biz account or personal?

muhammadaliabad
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Posts: 114
Joined: Fri Aug 30, 2013 6:18 pm

Re: 50k in biz account or personal

Post by muhammadaliabad » Wed Feb 26, 2014 8:07 pm

Hello,

Are you PSW holder? Otherwise you need to show 200K as investment funds.

Maintenance should be in your personal account. 900 pounds for yourself for the period of 3 months.

Regards,

Muhammad

Cc143
Newly Registered
Posts: 7
Joined: Mon Feb 10, 2014 11:16 pm

Re: 50k in biz account or personal

Post by Cc143 » Wed Feb 26, 2014 8:31 pm

Yes. Pew.

Where should the 50k be? Biz or personal account.?

Olasunkanmi
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Posts: 1324
Joined: Sat Aug 17, 2013 10:28 pm
Location: London, UK.

Re: 50k in biz account or personal

Post by Olasunkanmi » Thu Feb 27, 2014 12:31 am

@ cc143, your 50k funding can be in either personal or business account, but because of the complexity of additional documents required for business account its better to use your personal account.

For maintenance funds, it should be in your personal account and not business account.
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