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Need Advice Switching From Psw Visa To Tier 1 Entrepreneur

Only for UK Tier 1 (Post-Study Work) points system

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ahmad0044
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Need Advice Switching From Psw Visa To Tier 1 Entrepreneur

Post by ahmad0044 » Sat Mar 02, 2013 3:04 am

I have 100,000 funds transfer by my parents since 18 July 2012 Onward through different installments from Pakistan and Saudi Arabia.

I am expecting another 100,000 in a week time from a UK bank account from a buyer who I sold my property in Pakistan. He is paying me here from his bank to mine. He has remortgaged his house to raise money so he can buy my property.


I have 2 questions:

1. Is there any requirement by UKBA that money should come from outside the UK?
If yes then is there any time limit such as within 12 months or like that?

2. Is there any requirement that Money should be as straight forward transaction into applicant account from
abroad ?

Sorry I forgot to tell you that I have been living in the UK since 2006 with 2 dependents wife and daughter born in the UK and currently on PSW expiring end of this year. I am seeking 200K entrepreneur visa.

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bruteforce
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Post by bruteforce » Sat Mar 02, 2013 4:01 am

Answer to both question is NO.

ahmad0044
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Post by ahmad0044 » Sat Mar 02, 2013 4:14 am

Please follow a link pasted below: In this thread a solicitor has told that if you have money in the UK let say 200K over the period of 12 months you can not use that money to claim points under Tier 1 Entrepreneur category. Which doesn't make any sense to me!

Could somebody read and plz clarify



http://www.ukresident.com/forums/topic/ ... ge__st__10

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bruteforce
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Post by bruteforce » Sat Mar 02, 2013 4:53 am

ahmad0044 wrote:Please follow a link pasted below: In this thread a solicitor has told that if you have money in the UK let say 200K over the period of 12 months you can not use that money to claim points under Tier 1 Entrepreneur category. Which doesn't make any sense to me!

Could somebody read and plz clarify



http://www.ukresident.com/forums/topic/ ... ge__st__10
I dont think there are any such rules. Reading the policy guidance would be helpful.

ahmad0044
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Post by ahmad0044 » Sat Mar 02, 2013 3:00 pm

Thank you very much for your reply!

So my understanding from your reply is: It does not make any difference where the money come from ( UK OR ABROAD)? and also it does not make any difference for how long you had that money in your UK account you are eligible to apply in 200K category?

I was reading in the Tier 1 Entrepreneur policy guidance,page 51 ANNEX E Templates ( Document 1) that we must declare the date when the money entered into the UK. My question is if I have been made payment in the UK; as buyer of my property is making payment into my account from his UK bank account to my UK account. In this scenario what would be the date when funds entered into the UK?

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Post by vinny » Sat Mar 02, 2013 7:31 pm

Please continue in one thread.
This is not intended to be legal or professional advice in any jurisdiction. Please click on any links for further information. Refer to the source of any quotes.
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