Business bank account and joint bank account inquiry

[rizwan567]

Dear all, I would be thankful if you guys can give your views on below questions:

1. Entrepreneur team members holding joint bank account statement containing 50k. Do they need declaration and solicitor letter as is in the case of third party.

2. Team members have form a Ltd company. For initial application, is it mandatory to have business bank account of the company? Can application be made without opening up of business bank account.

I wait for your kind replies and views on the above.

[rizwan567]

Anybody please?? Any suggestions?

[RizKCB]

1- If you have money in your account then no need of third party declaration. If you produce these declarations then mention in it that you have received that money in your account from third party. Either way is ok.

2- Some elements are not required in the application process neither mentioned in the guidance policy. But those elements could be required to recognize your business genuine and live. If you have Ltd Company then a Business account will be required and will act as an ID of your business. Similarly your business may need any employee liability insurance or business plan. These things are not required in the policy but for showing your business genuine and serious enough, you should produce these things.

[rehan01]

Dear all, I would be thankful if you guys can give your views on below questions:

1. Entrepreneur team members holding joint bank account statement containing 50k. Do they need declaration and solicitor letter as is in the case of third party. (If funds are held in Joint account than no declaration needed as both have equal access to the funds because its joint account)
2. Team members have form a Ltd company. For initial application, is it mandatory to have business bank account of the company? Can application be made without opening up of business bank account. (I will say yes open company bank account and send statement with the application even with £10 balance)

I wait for your kind replies and views on the above.

[rehan01]

Dear all, I would be thankful if you guys can give your views on below questions:

1. Entrepreneur team members holding joint bank account statement containing 50k. Do they need declaration and solicitor letter as is in the case of third party.

2. Team members have form a Ltd company. For initial application, is it mandatory to have business bank account of the company? Can application be made without opening up of business bank account.

I wait for your kind replies and views on the above.

If funds held in joint account make sure both application sign and date Section 5 - Consent for UK Border Agency to Request Verification
Checks.