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Tier 1(GBP 200k route) application-urgent advice on bank letter format is needed

Only for UK Tier 1 (Entrepreneur) points system

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Ayya2632
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Russia

Tier 1(GBP 200k route) application-urgent advice on bank letter format is needed

Post by Ayya2632 » Tue Oct 24, 2017 11:17 am

Greetings from Dubai!

My husband is an entrepreneur and this spring we have run the preparation for Tier 1 (GBP 200K route) visa application. We contacted one of the law firms in the UK and started cooperation with them. They guided us in all aspects of document collection and business plan preparation.

One of the questions raised to consultants was on the format of bank letter supporting availability of funds to be invested in the UK.

My husband holds an account in HSBC bank in the UAE. Before depositing required amount he went to the bank to learn if they can issue the letter in the format attached to the Tier 1 application Rules and Regulations as a sample.

The bank explained that they have standardized approved format and CANNOT issue customized letters, particularly, add points like money is transferable to the UK or kept as GBP200k for 90 consequent days.
We immediately informed our consultants on the format of the letter that HSBC can provide to us in addition we suggested to attach statement of account to the letter which illustrates that the amount required kept for 90 days (we attached the sample of bank letter that would be issued by HSBC in Dubai when time comes).

Our consultants replied that the bank letter with attached statement of account but WITHOUT mentioning that the amount is transferable and kept for 90 days in the letter itself will be fine and enough to support the availability of funds. So relying on the reply of our consultants we deposited required funds to bank account and kept their for 90 days.

Last week the time came, we went to the bank and received the letter, in the format earlier approved by our consultants, with attached statement of account, but WITHOUT mentioning that the amount is transferable to the UK and kept for 90 consequent days. We sent the letter for final verification to our consultants in the UK. However this time they replied that the letter doesn't satisfy the requirements and we can get refusal on our application.

As we invested a lot of time and effort on collecting other documents, preparing business plan as well as kept the funds for required period, we went to the bank and had talk to bank manager, explained our situation and eventually managed to get him adding the statement that "the money is transferable to the UK" to the letter.

Currently we have the bank letter stating that at given date the balance is this much and amount can be transferred to the UK. As a support that the money kept in bank account for 90 days our bank suggests to use statement of account. However our consultants insists that the bank letter should be perfect and the statement in the bank letter that the funds kept for 90 days is vital, despite the attached statement of account.

Please share your experience/opinion is it vital to get letter with mentioning that the money kept for 90 days, or providing the letter stating the balance at given date and mentioning that the amount is transferable to the UK with attached stamped and signed statement of account for the period of 90 days can satisfy the requirements and support the availability of funds to be invested in the UK.


Your advice is valuable for us, thank you in advance
With best regards, Ayya

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marcnath
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Re: Tier 1(GBP 200k route) application-urgent advice on bank letter format is needed

Post by marcnath » Tue Oct 24, 2017 12:48 pm

The requirement, as per the immigration rules (https://www.gov.uk/guidance/immigration ... attributes) is:
(i) A letter from each financial institution holding the funds, to confirm the amount of money available. Each letter must:
(1) be an original document and not a copy,
(2) be on the institution’s headed paper,
(3) have been issued by an authorised official of that institution,
(4) have been produced within the 31 days immediately before the date of application,
(5) confirm that the institution is regulated by the appropriate body,
(6) state the applicant’s name, and his team partner’s name where relevant,
(7) show the account number and,
(8) state the date of the document,
(9) confirm the minimum balance available from the applicant’s own funds (if applicable) that has been held in that institution during a consecutive 90-day period of time, ending on the date of the letter,


I am assuming points 1-8 are already in the letter, but you are having a problem with point 9.

If the bank is not willing to state that the balance has been xxxx between start date and end date in the letter, it should be fine to attach the 90 day statement to the letter, but have the bank make the statements part of the letter. Say, by including the words "statements for month xx to xx attached". Even if that is a line at the bottom of the letter that says "encl. three month bank statement" or something similar, it should meet the requirement.
It can also be a separate letter. Some banks are willing to give a letter saying the balance between so and so date was this and that may be one of their standard letters.
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.

Ayya2632
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Posts: 2
Joined: Tue Oct 24, 2017 9:38 am
Russia

Re: Tier 1(GBP 200k route) application-urgent advice on bank letter format is needed

Post by Ayya2632 » Tue Oct 24, 2017 5:19 pm

Dear Marcnath,

Thank you for prompt response.

Yes, points 1-8 are already in the letter. Tomorrow we are planning to go to the bank and try:

1.to get the statement that "the required amount kept for 90 days" included into the letter or
2.as you advised ask the bank to make the statement of account part of the letter.

However if we won't be able to get neither letter stating that "the required amount kept for 90 days" nor to make the statement of account part of the bank letter and apply for visa using bank letter without satisfying point 9 of requirements will our application be refused?

Thank you in advance, Aya

Irfanlibra2017
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Pakistan

Re: Tier 1(GBP 200k route) application-urgent advice on bank letter format is needed

Post by Irfanlibra2017 » Tue Oct 24, 2017 5:36 pm

Points awarded for different attributes does not include money should be kept in account for 90 days?

You must have 200,000£ in your account
Bank must be regulated by FSA
Money is disposable to Uk

Ielts
Maintenance funds

Total 95 points.

So as long as you have bank statement attached with your bank letter, i think it should be fine. The only difference is that if the funds are not kept for 90+ days then u must need to show source of funds.

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marcnath
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Re: Tier 1(GBP 200k route) application-urgent advice on bank letter format is needed

Post by marcnath » Tue Oct 24, 2017 5:41 pm

Ayya2632 wrote:
Tue Oct 24, 2017 5:19 pm
Dear Marcnath,

Thank you for prompt response.

Yes, points 1-8 are already in the letter. Tomorrow we are planning to go to the bank and try:

1.to get the statement that "the required amount kept for 90 days" included into the letter or
2.as you advised ask the bank to make the statement of account part of the letter.

However if we won't be able to get neither letter stating that "the required amount kept for 90 days" nor to make the statement of account part of the bank letter and apply for visa using bank letter without satisfying point 9 of requirements will our application be refused?

Thank you in advance, Aya
While you should try your best to get the evidence as specified, I don't think you will be rejected purely for that if you have the bank letter and the statements
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.

t4tahir
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Joined: Mon Feb 27, 2006 12:51 pm
Location: London

Re: Tier 1(GBP 200k route) application-urgent advice on bank letter format is needed

Post by t4tahir » Wed Apr 25, 2018 5:58 pm

Hi Ayya2632,

Did you finally manage to get customized letter from HSBC UAE ?

My brother is in same situation and HSBC & Emirates NBD are not offering him customized letter.

also plese let us know the application timeline with the result.

Regards
Tahir

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