Bad news for Tier1 (E) applicants

[smehmood]

HI

New rules implemented on 31st of Jan requires to keep funding in your account until they are invested or application is decided.

If you have funding available in your account in UK and u can manage to keep it for 7 - 10 days i can help u out. do contact with me only if you have funding available in your own account in UK.

I do,nt offer any investment or money lending. No Nasty charges, Simple way within Law.

Regards

[rehan01]

Hi all,

What I want to know is: (I'm going from PSW to Tier 1 Entrepreneur)
I am showing funds from a third party and showing that the funds are transferable and available to me until they are invested into the business.
Is that all that I am required to do until I apply for an extension after three years.
Or, will the UKBA once my visa is approved, ask me to show proof of investment before the 3 years? If they do, is there a minimum amount I need to show as invested? The money of course will still be available to me to access and invest.
I am showing the business of private tutoring which doesn't require that much of an investment which puts me in a fix.

Cheers.

you have to have accesses to 50k on ongoing basis irrespective of the amount invested ........ eg (your business require 10k of investment in 3 years and you have created jobs and meet rest all the criteria but you still need to show the balance of 40k in your business account) than you will score points for investment.

as when money is transferred from personal account to business account it will be consider as injected into business etc

I will suggest you to read this thread http://www.immigrationboards.com/viewtopic.php?t=124691

lucapooka given very good explanation of similar question as yours.

regards

thanks for this

I was planning to not transfer the money or invest at all while showing that I have continuous access to the funds i applied with. Will this create a problem after 3 years (for extension) or is there a potential for them to curtail my visa before that?

After all, they cannot force you to make an investment into your business, can they?

also, can i show an investment from a source other than the one i showed when applying?

thanks for all the answers guys.

cheers

As far as I know you are on right track and even if they call you for interview nothing to worry your business is running you have invested in your business and if you can prove it with bank statement and other relevant documents etc ........... NOT TO WORRY AT ALL

good luck

[memoa]

HI guys ,

please i have something i need to know about

I have 40k in my account and i borrowed 10k from someone, but it appears as long- term loan on the bank transfer.I am going to set up a company and open business account and transfer the money 50k in the business account and use my old account to show £900 for 3 months as maintenance.
is that going to affect the case to apply as they want 3 months bank statment for £900

is there any problem if you have loan in the bank statement of the maintenance?

please help

that shouldn't be a problem and other thing you have to keep 50k funds in your personal account not business account when you applying for visa as these funds should be of your own money so keep it in personal account and you can use same statement for maintenance and funds that is not an issue as long as you have maintained more than £900 for 90 consecutive days in your bank account and closing balance is 50k +900 (for 90 days only) than you will be fine .

regards

HI
thanks for your reply , but as fare as i know you have to have business account to show the you have of 50k for the business name you start plus personal account to show not less than £900 for 3 months ,,

please i want to know for example if i have the company and I am the director for the company the money in my company account which is business account is that make any difference ????

could some one help please

[masha]

Hi

I think it should b business account. the guidance i have checked it states it should not b business account if you are sending the bank statement. if you see guidance notes 90,91,92, and 93 it gives a good explanation of it. however if you have supplied bank letter requirements are different. Since its a business it should b business account, which i sent as well. you cannot run business from personal accounts. so dont worry about it I think.

Also regarding these new rules, these are challengeable in the court. as these are seiously undermining the general law practise. for example how can you apply a law on an applicant who has applied 3 months ago? as this a serious breach of his right? so

[dd156]

Hi

I think it should b business account. the guidance i have checked it states it should not b business account if you are sending the bank statement. if you see guidance notes 90,91,92, and 93 it gives a good explanation of it. however if you have supplied bank letter requirements are different. Since its a business it should b business account, which i sent as well. you cannot run business from personal accounts. so dont worry about it I think.

Also regarding these new rules, these are challengeable in the court. as these are seiously undermining the general law practise. for example how can you apply a law on an applicant who has applied 3 months ago? as this a serious breach of his right? so

50000 have to be in a personal account, unless the funds have been invested.

[rehan01]

Hi

I think it should b business account. the guidance i have checked it states it should not b business account if you are sending the bank statement. if you see guidance notes 90,91,92, and 93 it gives a good explanation of it. however if you have supplied bank letter requirements are different. Since its a business it should b business account, which i sent as well. you cannot run business from personal accounts. so dont worry about it I think.

Also regarding these new rules, these are challengeable in the court. as these are seiously undermining the general law practise. for example how can you apply a law on an applicant who has applied 3 months ago? as this a serious breach of his right? so

funds need to be in personal account at the time of application till you receive decision on application.

regards