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Tier 1 initial application vague email

Only for UK Tier 1 (Entrepreneur) points system

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amirsh
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Jordan

Urgent help please Tier 1 (Entrepreneur) through third party funding

Post by amirsh » Thu Feb 28, 2019 10:50 am

Hello,

I am currently trying to finalise the paperwork for my visa application. I am applying as an entrepreneurial team with my father. However, I have been facing issues with the funding documents, particularly the letter from the financial institution holding the funds. My plan is to use my uncle (my father's brother) as the third party. I have a joint account in the Arab Bank Plc with my father in which my uncle can transfer us the full amount of 200,000 GBP. I have written the letter that is required from the bank in accordance to the visa guidelines (given below), but much to my dismay they refused to sign it. Their reasons being that the letter mentions multiple times and holds them responsible in guaranteeing that the money transferred from the third party is to be used in the UK to start a company. As the bank cannot guarantee that, they refused to be held legally responsible for my claim. Can you advice me on the wording of the letter?

In addition, is this letter even required if the third party transfers the funds to the joint bank account before the time of the application? We plan to transfer the money from the third party to the joint account via cheque.

Thank you so much
Amir

For the attention of the Home Office

In regards to the application of Mr A xxxxxxx for Entrepreneur status in the United Kingdom:

I have the consent of Mr Ab xxxxxxxxxxx to share these findings with the Home Office. I will confirm the contents of this letter to the Home Office at their request.

Mr A xxxxxx and Mr J xxxxxxxxx have £200,000 ($262,000) available for investment in the United Kingdom on deposit with this financial institution.

On this date //2019, the applicant has agreed to form an entrepreneurial team with Mr J xxxxxxxx and has the following amount of money IN THEIR OWN NAMES available for investment in a business in the United Kingdom [£200,000].

The applicants have the following amount of money available for investment in a business in the United Kingdom, held in this institution under the names of Mr A xxxxxxxxx and Mr J xxxxxxxxx.

I am not aware of Mr Ab xxxxxxxxxxxxx having promised to make that money available to any other person.




Name and address of Authorised Financial Institution:

This institution is regulated by the FCA/PRA [state form of registration]

Name and contact details of the Author of this document:

Signature of authorised person of the Authorised Financial Institution

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Zimba
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Re: Urgent help please Tier 1 (Entrepreneur) through third party funding

Post by Zimba » Thu Feb 28, 2019 4:07 pm

You are not the first to face this issue. The requirement is almost impossible to achieve as no bank will give you such letter. The advice is to move the money to a joint account, maintain it for 90 days and avoid the 3rd party funding docs altogether
Advice is given based on my personal research and experience only. DO NOT contact me via private messages for advice

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marcnath
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Re: Urgent help please Tier 1 (Entrepreneur) through third party funding

Post by marcnath » Thu Feb 28, 2019 9:28 pm

You can also set up the company, invest the money into the company and provide the requisite documents for money already invested. There is no 90 day requirement on that.
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.

amirsh
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business plan financials

Post by amirsh » Sun Mar 03, 2019 8:21 am

Dear All,

I am applying for my tier 1 entrepreneur visa without a lawyer and was wondering how in depth the financials must be? I have done a 3 year sales forecast with sales and cost giving an overall net profit.

Is there anything else I must include or any template for any other sections that may be needed so I can just input my own figures?

Kind regards

Amir

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Re: business plan financials

Post by Frontier Mole » Sun Mar 03, 2019 8:45 am

Your business plan has to be very detailed and show that your proposed business is viable and based on the appropriate amount of research and knowledge of the business area you intend to enter.

The financial forecasts should reflect the above and give a clear indication of expenditures/ sales and profit/loss projections. It is a crystal ball gazing exercise but it points to how realistic your thinking is and that your business plan is centred around achieving sensible expectations of sales and revenue generated.


Hope that helps

amirsh
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Jordan

Re: Urgent help please Tier 1 (Entrepreneur) through third party funding

Post by amirsh » Sun Mar 03, 2019 2:42 pm

I noticed in the guidelines that the requirements for that letter are much leaner and the bank will agree to sign it if the third party transfers the money to my account prior to the application. As I am in a hurry I think I am going to try to apply with the third party method still.

Thank you for your help. If my application is accepted I will post all my paperwork on this feed for everyone to have a look at :D

Wish me luck

amirsh
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Joined: Thu Feb 28, 2019 10:37 am
Jordan

Tier 1 initial application vague email

Post by amirsh » Mon Jun 17, 2019 2:59 pm

I applied for the tier 1 200k route and paid the added value service to keep my passport on 10th March, Biometrics done 13th March and interview on 10th April. I received on 11th June this email:

“Our office will now proceed to the next stage of your application. To complete this process we require you to undertake the following steps:

1. Please submit your passport to the Visa Application Centre (VAC) where you made your original visa application .

2. Please also submit a copy of this e-mail so that the Visa Application Centre will accept your passport.

3. If you require a TB certificate for travel, please ensure this is up to date and valid.

You will be contacted when a decision has been made and your passport is ready to be collected.

Kind regards,

UK Decision Making Centre


This is an automated message - please do not respond to this email address as incoming mail is not answered. UKVI contact details can be found at www.gov.uk/contact-ukvi-outside-uk

I returned my passport on 12th June.

Has anybody got that before? And does it mean that I got approved? I was thinking if it’s a refusal then they wouldn’t ask for my passport back.

Thank you

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