Post
by rahulsingh1 » Fri Apr 05, 2013 12:33 pm
I think what you have said (access to funds at all times..) is only true when applying for the first time entry clearance or while switching into T1E for the first time.
For extention- I just read the link you have posted.
if you search for this in the page for " 37. Available points are shown in Table 5 for an applicant who: "
you will find out that Table 5 is the one applicable to Extensions.
Now if you look for Table 5, here is what it says. (pasted from your link)
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Investment and business activity Points
The applicant has invested, or had invested on his behalf, not less than £200,000 (or £50,000 if, in his last grant of leave, he was awarded points for funds of £50,000 as set out in Table 4 above in cash directly into one or more businesses in the UK.
20
The applicant has:
(a) registered with HM revenue and Customs as self-employed, or
(b) registered a new business in which he is a director, or
(c) registered as a director of an existing business.
Where the applicant's last grant of entry clearance, leave to enter or leave to remain was as a Tier 1 (Entrepreneur) Migrant, the above condition must have been met within 6 months of his entry to the UK (if he was granted entry clearance as a Tier 1 (Entrepreneur) Migrant and there is evidence to establish his date of arrival to the UK), or, in any other case, the date of the grant of leave to remain.
20
On a date no earlier than three months prior to the date of application, the applicant was:
(a) registered with HM revenue and Customs as self-employed, or
(b) registered a new business in which he is a director, or
(c) registered as a director of an existing business.
15
The applicant has:
(a) established a new business or businesses that has or have created the equivalent of at least two new full time jobs for persons settled in the UK, or
(b) taken over or invested in an existing business or businesses and his services or investment have resulted in a net increase in the employment provided by the business or businesses for persons settled in the UK by creating the equivalent of at least two new full time jobs.
Where the applicant's last grant of entry clearance or leave to enter or remain was as a Tier 1 (Entrepreneur) Migrant, the jobs must have existed for at least 12 months of the period for which the previous leave was granted.
20
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And if you look at documents wanted for extension.(please see below..pasted from same link..) It doesn't mention anywhere(for extension docs) that money should be 'continuously' available to you for 3 years and to prove it again.
Its only for initial application I think..(where you have to get it written in your third party document/bank letter etc..)
see this (pasted from your link)
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Investment and business activity: notes
46.Documentary evidence must be provided in all cases. The specified documents in paragraph 46-SD must be provided as evidence of any investment and business activity that took place when the applicant had leave as a Tier 1 (Entrepreneur) Migrant or a Tier 1 (Post-Study Work) Migrant, and any investment made no more than 12 months before the date of the application for which the applicant is claiming points.
46-SD. The specified documents in paragraphs 45 and 46 are as follows:
(a) The applicant must provide all the appropriate specified documents needed to establish the amount of money he has invested from the following list:
(i) If the applicant's business is a registered company that is required to produce audited accounts, the audited accounts must be provided;
(ii) If the applicant's business is not required to produce audited accounts, unaudited accounts and an accountant's certificate of confirmation, from an accountant who is a member of a UK Recognised Supervisory Body (as defined in the Companies Act 2006), must be provided;
(iii) If the applicant has made the investment in the form of a director's loan, it must be shown in the relevant set of accounts provided, and the applicant must also provide a legal agreement, between the applicant (in the name that appears on his application) and the company, showing:
(1) the terms of the loan,
(2) any interest that is payable,
(3) the period of the loan, and
(4) that the loan is unsecured and subordinated in favour of third-party creditors.
(b) Audited or unaudited accounts must show the investment in money made directly by the applicant, in his own name or on his behalf (and showing his name). If he has invested by way of share capital the business accounts must show the shareholders, the amount and value of the shares (on the date of purchase) in the applicant's name as it appears on his application. If the value of the applicant's share capital is not shown in the accounts, then share certificates must be submitted as documentary evidence. The accounts must clearly show the name of the accountant, the date the accounts were produced, and how much the applicant has invested in the business.
(c) The applicant must provide the following specified documents to show that he has established a UK business:
(i) Evidence that the business has business premises in the United Kingdom:
(1) If the applicant is self employed, his registration with HM Revenue and Customs to show that the business is based in the UK, or
(2) If the applicant is a director, printout of a Companies House document showing the address of the registered office in the UK, or head office in the UK if it has no registered office, and the applicant's name, as it appears on the application form, as a director,
and
(ii) Evidence that the business has a UK bank account:
(1) If the applicant is self employed, a personal bank statement showing transactions for his business, or a business bank statement, or a letter from a UK bank confirming that he has a business and acts through that bank, or
(2) If the applicant is a director, a company bank statement showing that the company has a UK account, or a letter from a UK bank confirming that the company has a bank account,
and
(iii) Evidence that the business is subject to UK taxation:
(1) If the applicant is self-employed, he must be registered as self-employed for National Insurance assessment and provide either the welcome letter from HM Revenue & Customs, the Small Earnings Exception certificate, a copy of the National Insurance bill from HM Revenue & Customs, or
the applicant's bank statement showing that National Insurance is taken by HM Revenue & Customs by direct debit, or
(2) If the applicant is a director of a business, the business must be registered for corporation tax and the applicant must provide either a copy of form CT41G from HM Revenue & Customs, which is completed and shows the date of registration of the company with HM Revenue & Customs and the HM Revenue & Customs unique reference number, or a completed HM Revenue & Customs tax return document showing the tax reference number for the company.
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Don't know what you think. I want to be doubly sure..
