ESC

Click the "allow" button if you want to receive important news and updates from immigrationboards.com


Immigrationboards.com: Immigration, work visa and work permit discussion board

Welcome to immigrationboards.com!

Login Register Do not show

Entrepreneur Visa Third Party

Only for UK Tier 1 (Entrepreneur) points system

Moderators: Casa, JAJ, ca.funke, Amber, Zimba, vinny, Obie, EUsmileWEallsmile, batleykhan, geriatrix, John, ChetanOjha, archigabe, push

User avatar
marcnath
Moderator
Posts: 5959
Joined: Tue Jul 03, 2012 2:27 pm
Location: Milton Keynes

Re: Entrepreneur Visa Third Party

Post by marcnath » Thu Sep 21, 2017 2:01 pm

akap12 wrote:
Thu Sep 21, 2017 11:44 am
Do they have a grace period if something like this happens? :|
There is a grace period - just that it is before the application date. They advice applications be done 28 days before to cater for these.
As to them being flexible in cases of such circumstances, it will be your luck. There seems to be no official policy on that. And I can understand that - if they make the grace period official, it will just be treated as additional time by some people.
akap12 wrote:
Thu Sep 21, 2017 11:44 am
If i go to the bank and let them know about a transaction that is going to happen with that amount, will it help?
You should do that anyway. But again, there is no guarantee. If something goes wrong, the bank is not going to help you get through UKVI.
The chances of a Debit card rejection is generally quite low if you have the amount in your bank account.
Overall the risk is low, so it is up to you whether you take it or do the surer option of a bankers draft
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.

akap12
Newbie
Posts: 32
Joined: Tue May 23, 2017 1:23 am

Re: Entrepreneur Visa Third Party

Post by akap12 » Thu Sep 21, 2017 7:57 pm

Hi marcnath,
One more thing: I got a letter from my brothers bank (Bank of America) saying the money was for "sponsorship of my name". I got a third party letter from my brother(as shown in the annex) which was notarised and signed by legal representative (It was notarised by saying my brother showed sufficient ID evidence and was typed on the same page as the third party letter).

Do i still need an additional letter from the legal representative?

User avatar
marcnath
Moderator
Posts: 5959
Joined: Tue Jul 03, 2012 2:27 pm
Location: Milton Keynes

Re: Entrepreneur Visa Third Party

Post by marcnath » Thu Sep 21, 2017 8:23 pm

As long as it covers the requirements set out in the legal declaration section, I don't believe that it has to be on a separate sheet of paper. But make sure your cover letter states that those two requirements are met in one single document.
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.

akap12
Newbie
Posts: 32
Joined: Tue May 23, 2017 1:23 am

Re: Entrepreneur Visa Third Party

Post by akap12 » Fri Sep 22, 2017 7:05 pm

Hi marcnath,
I wanted to ask you one more question: I am registered as a sole trader. I spent around 3k for a clothing event for my business but my transaction was straight form my personal account. Is there a way to show this as investment?

Many Thanks !

User avatar
marcnath
Moderator
Posts: 5959
Joined: Tue Jul 03, 2012 2:27 pm
Location: Milton Keynes

Re: Entrepreneur Visa Third Party

Post by marcnath » Fri Sep 22, 2017 7:12 pm

akap12 wrote:
Fri Sep 22, 2017 7:05 pm
Hi marcnath,
I wanted to ask you one more question: I am registered as a sole trader. I spent around 3k for a clothing event for my business but my transaction was straight form my personal account. Is there a way to show this as investment?

Many Thanks !
If your accountants agree I believe you should be able to account it as 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.

akap12
Newbie
Posts: 32
Joined: Tue May 23, 2017 1:23 am

Re: Entrepreneur Visa Third Party

Post by akap12 » Fri Sep 22, 2017 7:14 pm

marcnath wrote:
Fri Sep 22, 2017 7:12 pm
akap12 wrote:
Fri Sep 22, 2017 7:05 pm
Hi marcnath,
I wanted to ask you one more question: I am registered as a sole trader. I spent around 3k for a clothing event for my business but my transaction was straight form my personal account. Is there a way to show this as investment?

Many Thanks !
If your accountants agree I believe you should be able to account it as share capital
Can sole traders do share capital? I was thinking of showing it as direct cash investment maybe?

Anyways besides the 50k in my account i have shown 3k as investment. Even if they don't count it as proper investment I should be fine right?

akap12
Newbie
Posts: 32
Joined: Tue May 23, 2017 1:23 am

Re: Entrepreneur Visa Third Party

Post by akap12 » Fri Sep 22, 2017 7:20 pm

Also the invoices show both my name and the company name. Hmm

User avatar
marcnath
Moderator
Posts: 5959
Joined: Tue Jul 03, 2012 2:27 pm
Location: Milton Keynes

Re: Entrepreneur Visa Third Party

Post by marcnath » Fri Sep 22, 2017 9:51 pm

Ok. You are self employed. It should be easier to account for expenses as investment.
Your accountants should draw up the separate business accounts and this shows as money from you
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.

akap12
Newbie
Posts: 32
Joined: Tue May 23, 2017 1:23 am

Unauidted accounts shows profit

Post by akap12 » Fri Sep 29, 2017 10:25 pm

Graduate Entrepreneur at the moment.
My unaudited accounts show £13,000 in business profits. I transferred this money less than 90 days before the date of my application with my accountant letter/unaudited report. Is this fine? Policy guidance does not talk about business profits generated as a graduate entrepreneur kept for less than 90 days? :|

Thanks !

Locked
cron