New Policy Guidance Effective from 31st January 2013

[rehan01]

Dear All,

New policy guidance is available on UKBA website

http://www.ukba.homeoffice.gov.uk/sitec ... dance1.pdf


regards

[sm12]

What entrepreneur will invest all the money in the business when it's not needed, or keep it in the bank account, when the money can be invested in other assets and earn a higher return, and freed as and when required. No sane entrepreneur would keep idle cash/funds lying around in a personal/business current account, when he can make a profit on it while the money is not needed for investment.

[rehan01]

What entrepreneur will invest all the money in the business when it's not needed, or keep it in the bank account, when the money can be invested in other assets and earn a higher return, and freed as and when required. No sane entrepreneur would keep idle cash/funds lying around in a personal/business current account, when he can make a profit on it while the money is not needed for investment.

Yes you are right but UKBA want to keep the money in account and available to you all the time and if some part of its is invested need proof of that. They are not bothered about anything else like you mention about make profit on it while the money is not needed for investment.

regards

[sm12]

What entrepreneur will invest all the money in the business when it's not needed, or keep it in the bank account, when the money can be invested in other assets and earn a higher return, and freed as and when required. No sane entrepreneur would keep idle cash/funds lying around in a personal/business current account, when he can make a profit on it while the money is not needed for investment.

Yes you are right but UKBA want to keep the money in account and available to you all the time and if some part of its is invested need proof of that. They are not bothered about anything else like you mention about make profit on it while the money is not needed for investment.

regards

Yes, you are right. But by asking people to hold on to 200,000K in the bank account when it is not required, they are definitely not going to be attracting enterprising talent to the UK! It simply does not make any financial sense.

[rehan01]

What entrepreneur will invest all the money in the business when it's not needed, or keep it in the bank account, when the money can be invested in other assets and earn a higher return, and freed as and when required. No sane entrepreneur would keep idle cash/funds lying around in a personal/business current account, when he can make a profit on it while the money is not needed for investment.

Yes you are right but UKBA want to keep the money in account and available to you all the time and if some part of its is invested need proof of that. They are not bothered about anything else like you mention about make profit on it while the money is not needed for investment.

regards

Yes, you are right. But by asking people to hold on to 200,000K in the bank account when it is not required, they are definitely not going to be attracting enterprising talent to the UK! It simply does not make any financial sense.

Yea agree with you but unfortunately they don't care about it and probably that's what they want or they think by doing this only genuine genuine person will apply only as we all know the currect situation and figures shows the same that in 2011 only 768 applicantion received, in 2012 frm january till november 6900 aprox and in december on its own 3000 aprox so ofcourse it ring alarm everywhere that there is something wrong and that is why all these restrictions are in place but again for genuine applicant nothing to worry about at all.

Regards

[sm12]

Being a genuine entrepreneur and utilising the resources to maximise gains are not mutually exclusive.
Obviously, the funds can be freed as when the business needs them. Investing money in assets instead of keeping it idle in the bank makes business sense, it doesn't mean you're not a genuine applicant with no intention to run and invest in a business.
Anyway, it's probably to control the number of visas issued as you said, more than anything else.

[rehan01]

Being a genuine entrepreneur and utilising the resources to maximise gains are not mutually exclusive.
Obviously, the funds can be freed as when the business needs them. Investing money in assets instead of keeping it idle in the bank makes business sense, it doesn't mean you're not a genuine applicant with no intention to run and invest in a business.
Anyway, it's probably to control the number of visas issued as you said, more than anything else.

Yes correct that is wht my opinion too .

Regards

[RizKCB]

Nothing special for educated entrepreneurs because intellectual property cannot be kept in banks. Only these people can invest to buy office buildings, equipment and furniture. What a genuine entrepreneur?

It is good to run Chicken Shop, Pizza Shop, Grocery Shop or online retail shops etc with labeling ourselves Sales and Marketing Directors. These businesses are good enough for real investments. What a genuine entrepreneur?

This is a new rule to keep amount in the bank throughout until the last penny to invest. I guess it is new rule which should not be applicable to previous applicants. To show the availability and invest that within 3 years fulfills their requirements. It never means a system abuse. As an entrepreneur at least I would never stop my business in my home country to invest in UK and keeping that money struck when there is no use of it. I would prefer to keep running my business in my home country and inject the money time to time in the UK business. It makes sense.

[rehan01]

Nothing special for educated entrepreneurs because intellectual property cannot be kept in banks. Only these people can invest to buy office buildings, equipment and furniture. What a genuine entrepreneur?

It is good to run Chicken Shop, Pizza Shop, Grocery Shop or online retail shops etc with labeling ourselves Sales and Marketing Directors. These businesses are good enough for real investments. What a genuine entrepreneur?

This is a new rule to keep amount in the bank throughout until the last penny to invest. I guess it is new rule which should not be applicable to previous applicants. To show the availability and invest that within 3 years fulfills their requirements. It never means a system abuse. As an entrepreneur at least I would never stop my business in my home country to invest in UK and keeping that money struck when there is no use of it. I would prefer to keep running my business in my home country and inject the money time to time in the UK business. It makes sense.

well no one is telling us to come to UK on entrepreneur visa is it ? that is why they are tightening things up

we need it and we have to meet the requirements set by UKBA doesn't matter what it is ? otherwise you are absolutely correct if someone got a business in home country he will not or shouldn't stop his business in home country just to meet the requirements of Entrepreneur visa ........ and that is what home office is saying as well that you are telling us I have 50k / 200k but you don't have excess to it as its third party funding or money is been carried over by one group to another etc ...... so in simple words if you want Tier 1 Entrepreneur keep the money and have excess to it till you have shown all the investment if not than you didn't meet the requirements curtail in visa will come in force and they will be coming out with some strong check and inspection to prove this too.

Also regarding running chicken shop, pizza shop, grocery shop and other retail business are not at NQF level 4 (only for psw visa holders) but again with 200k category there is no restriction on nature and level of business because ideally its bringing 200k into country for business and this is what they making sure that you have funding available all the time and have excess to the funding too.


Again I will not be surprised if they start giving people 6 months visa from abroad and tell them to apply for extension after 6 months with prove that money is moved to uk etc (now anything is possible especially they way they have changed these rules and implemented on all the
applicant irrespective of date of application submitted)


regards

[RizKCB]

Nothing more than to say it 'Sophisticated Begging'.
Invest or Keep it in Our Banks.... No matter what you earn or loss.

[rehan01]

Nothing more than to say it 'Sophisticated Begging'.
Invest or Keep it in Our Banks.... No matter what you earn or loss.

Yes you are right because we need it so have to meet the requirements if we want to apply etc.

regards

[sm12]

Well the money can be held overseas but only in your bank account apparently. It's quite ridiculous but it is what it is I guess.
Clearly stopping immigrants is more important than boosting the economy. I say this primarily because I think this rule will deter many talented entrepreneurs from moving to the UK and investing. Just think of the opportunity cost of holding idle funds in your bank account.

[kayani2012]

Changes to Tier 1 (Entrepreneur) route from 31 January 2013

30 January 2013

This page provides guidance on the changes to the Immigration Rules for the Tier 1 (Entrepreneur) category, in particular for applicants who applied before 31 Janaury 2013 and are waiting for a decision on their Tier 1 (Entrepreneur) application.

If we have not decided your application before 31 January or you apply on or after this date, we will consider it under the new rules.

We will keep this page updated with the latest information.

We may ask you to:

provide additional information, for example business plans and evidence of market research, to confirm the genuineness of your application; and
demonstrate that you continue to have access to the funds ahead of them being invested in a UK business. You may have moved money into your business in the meantime. If so, you will need to provide the business accounts or accountant certificate showing that you have invested the funds in the business, together with the updated evidence of any remaining monies to make up your full investment.

You will have 28 days in which to provide the information we request. We may also carry out checks to verify the information provided and you could be invited to attend an interview to discuss your application.

If you are applying on or after 31 January and are relying on funds from a third party, the declarations you provide from those third parties will need to confirm that the funds will continue to be available to you until they are used.

Further information about the evidence you need to supply as part of your application can be found in the Tier 1 (Entrepreneur) policy guidance.

[vc555]

Well the money can be held overseas but only in your bank account apparently. It's quite ridiculous but it is what it is I guess.
Clearly stopping immigrants is more important than boosting the economy. I say this primarily because I think this rule will deter many talented entrepreneurs from moving to the UK and investing. Just think of the opportunity cost of holding idle funds in your bank account.

Definitely on extension time they will prove some thing to sTOp PR, its phenomenal signs, they don't want immigrants for sure,

we have to agree many immigrants will also misuse this loopholes.

i'm thinking one day, if all immigrants left this country what this economy goes.. (especially IT)

p.s- don't take it personally...

and some one in this forum, said we can buy some material with that 50K and export to another country..

(in realistic ur making yourself trouble for getting VISA). correct me if i'm wrong

[samira_uk]

What entrepreneur will invest all the money in the business when it's not needed, or keep it in the bank account, when the money can be invested in other assets and earn a higher return, and freed as and when required. No sane entrepreneur would keep idle cash/funds lying around in a personal/business current account, when he can make a profit on it while the money is not needed for investment.

Yes you are right but UKBA want to keep the money in account and available to you all the time and if some part of its is invested need proof of that. They are not bothered about anything else like you mention about make profit on it while the money is not needed for investment.

regards

Yes, you are right. But by asking people to hold on to 200,000K in the bank account when it is not required, they are definitely not going to be attracting enterprising talent to the UK! It simply does not make any financial sense.

Yea agree with you but unfortunately they don't care about it and probably that's what they want or they think by doing this only genuine genuine person will apply only as we all know the currect situation and figures shows the same that in 2011 only 768 applicantion received, in 2012 frm january till november 6900 aprox and in december on its own 3000 aprox so ofcourse it ring alarm everywhere that there is something wrong and that is why all these restrictions are in place but again for genuine applicant nothing to worry about at all.

Regards

Can I ask about the reference for above statistics? They seems so interesting.

[rehan01]

Yes you are right but UKBA want to keep the money in account and available to you all the time and if some part of its is invested need proof of that. They are not bothered about anything else like you mention about make profit on it while the money is not needed for investment.

regards

Yes, you are right. But by asking people to hold on to 200,000K in the bank account when it is not required, they are definitely not going to be attracting enterprising talent to the UK! It simply does not make any financial sense.

Yea agree with you but unfortunately they don't care about it and probably that's what they want or they think by doing this only genuine genuine person will apply only as we all know the currect situation and figures shows the same that in 2011 only 768 applicantion received, in 2012 frm january till november 6900 aprox and in december on its own 3000 aprox so ofcourse it ring alarm everywhere that there is something wrong and that is why all these restrictions are in place but again for genuine applicant nothing to worry about at all.

Regards

Can I ask about the reference for above statistics? They seems so interesting.

for your reference here is the link : http://www.ukba.homeoffice.gov.uk/sitec ... iew=Binary

you need to read point 3 : Matters of special interest to the Joint Committee on Statutory Instruments or the Select Committee on Statutory Instruments

3.1 and than bullet point 3


this documents is also available vai http://www.ukba.homeoffice.gov.uk/sitec ... trepreneur

STATEMENT OF CHANGES IN IMMIGRATION RULES HC943 January 2013.

hope it help

regards