Is third party funding from UK bank account acceptable?

[rizwan567]

Has anybody got a clear answer to this question:

Is third party funding from a UK bank account acceptable?

[RizKCB]

In policy guidance you will conclude after reading the points 90, 92 and 93 in sequence. Point 93 states that In UK you cannot have a third party statement. It must be in your own name(s).


Point 90 in policy guidance states:

(2nd Point)
for money held in the UK only, an account statement;

Then Point 92:
For money held in the UK only, a recent personal bank or building society statement from the UK financial institution holding the funds, which confirms the amount of money available to you or your entrepreneurial team.

Then point 93:
(4th point)
The account must be in your own name only (or both names for an entrepreneurial team) only. Accounts in the name of a business or third party will not be accepted;

[RizKCB]

An example:

If I have 20000 in UK bank account.
My two Uncles are residing in Canada and Pakistan who are willing to give me 15000 + 15000.

Then: My both Uncles will act as third parties and I will show my own personal statement. So all funding would become 50000 to validate my application with 75+10+10 points.

Now lets suppose my both Uncles are also in UK and they have their bank accounts in UK. In this case MONEY IS HELD IN UK. Now they CANNOT act as third party whatsoever. Now they will have to transfer that money in my own account to validate my application otherwise I will loose 25 points.

[rsrameshsunil]

it should be fine as long as you can obtain a bank letter and all the legal declaration requirements as mentioned in policy guidance.....However you cannot claim points by showing third party's bank statement....

[rehan01]

Has anybody got a clear answer to this question:

Is third party funding from a UK bank account acceptable?

not acceptable

[Ahmed25]

For me its no. Reason I defined in my thread. May be I am wrong but that's what my understanding is. There were no such point in guidance availabe before july or so. But it is unclear.

[Humv]

As I mentioned below. According to the policy guidance its NO

http://www.immigrationboards.com/viewtopic.php?t=125523

[rizwan567]

Third party funding from UK Bank account is allowed. All the rumous are completely wrong that its not acceptable, I sent a letter to UKBA last week and below is the reply I received.

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Dear Sir,

Thank you for your letter of 13 February, asking whether third party funding is permitted for the Tier 1 (Entrepreneur) route, from third parties within the UK. This is permitted.


The evidence will need to show the existence of the money (using one of the forms listed in paragraph 90 of the guidance notes on: http://www.ukba.homeoffice.gov.uk/visas ... /applying/ ) and a declaration and a legal authorities’ confirmation of the validity of the declaration (paragraph 96).

This is set out clearly in the guidance.



I have responded by email, as I hope that this is the fastest way for you to get your response.


Yours faithfully,


L Souster
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[rehan01]

Third party funding from UK Bank account is allowed. All the rumous are completely wrong that its not acceptable, I sent a letter to UKBA last week and below is the reply I received.

------------------------------------------------------------------------------------
Dear Sir,

Thank you for your letter of 13 February, asking whether third party funding is permitted for the Tier 1 (Entrepreneur) route, from third parties within the UK. This is permitted.


The evidence will need to show the existence of the money (using one of the forms listed in paragraph 90 of the guidance notes on: http://www.ukba.homeoffice.gov.uk/visas ... /applying/ ) and a declaration and a legal authorities’ confirmation of the validity of the declaration (paragraph 96).

This is set out clearly in the guidance.



I have responded by email, as I hope that this is the fastest way for you to get your response.


Yours faithfully,


L Souster
------------------------------------------------------------------------------------

Thanks for the clarification and taking time out to send letter but I guess the problem is all these things are not clear in policy guidance but thanks once again for the effort very helpful for many of us

regards

[rizwan567]

Thanks for your comments...Yes, it should surely be helpful to others...

[BlackBirdSSG]

What about Paragraph 92 and 93 then?

It says 'Accounts in the name of Business or Third party will not be accepted'. It has to be under your, or both team member's name. (FOR MONEY HELD IN UK ACCOUNTS)

Paragraph 92 and 93 are clearly going against what the email is saying.

[la]

What about Paragraph 92 and 93 then?

It says 'Accounts in the name of Business or Third party will not be accepted'. It has to be under your, or both team member's name. (FOR MONEY HELD IN UK ACCOUNTS)

Paragraph 92 and 93 are clearly going against what the email is saying.

If you go through policy guidance again, one can understand easily that UK third party funding evidence can not be claimed with UK third party bank statement. But can be claimed using UK third party account bank letter, legal declaration etc etc .


Please go through policy guidance again to understand.