Regarding 50k funds transfer. Please help ....

[Hunny]

I am new to this forum and seeking your guidance , would be grateful if somebody guide me on this.

I got my visa end of June and showed funds £50 k in Pakistan with my partner in joint account . Now we need to transfer funds to uk to invest in business , my accountant said the best way is to transfer funds to uk business account directly but I have checked with bank they don't transfer directly to uk business account according to them there are state bank policies and they require many formalities I.e. proof,evidence and I am already in uk. How ever they don't have problem sending to uk personal account .

Is it ok if I first transfer to uk personal account and than to business account and than to invest. Secondly I am in uk is it ok if some relative of mine send me from Pakistan 50k.
Finally if I take money 50k from my relative in uk and give them from Pakistan 50k in order to avoid charges , will it be acceptable?


Really so confuse and need your advice .thanks

[KickAss]

God ! this if F**** confusing ! .. But I think I got what you said.
First of all, as your accountant said, direct tx in business account is the recommended way.
Since you cannot do that, Its best you tx from your Pak account to your UK personal account to your business account.

In this scenario ! It will be all your name for accounts, so in future explaining to anyone will be easier.
Dont bring relative in this picture, you dont know what thr credit history is and what business they do etc.. (Dont take me wrong they are ur relatives so you trust them and all).
In short, play it fair and simple.

I am new to this forum and seeking your guidance , would be grateful if somebody guide me on this.

I got my visa end of June and showed funds £50 k in Pakistan with my partner in joint account . Now we need to transfer funds to uk to invest in business , my accountant said the best way is to transfer funds to uk business account directly but I have checked with bank they don't transfer directly to uk business account according to them there are state bank policies and they require many formalities I.e. proof,evidence and I am already in uk. How ever they don't have problem sending to uk personal account .

Is it ok if I first transfer to uk personal account and than to business account and than to invest. Secondly I am in uk is it ok if some relative of mine send me from Pakistan 50k.
Finally if I take money 50k from my relative in uk and give them from Pakistan 50k in order to avoid charges , will it be acceptable?


Really so confuse and need your advice .thanks

[Hunny]

Thanks

But can we transfer to any of our personal account (as we are ent team ) ?

[KickAss]

Why dont you open a joint account here and than tx here.
Once done, you can close that account

[Hunny]

Actually was in need of money so thought to save some time . Also have to keep the proof that money had been transferred from abroad how would we close the account.
We have some saving of 15 k in here already meanwhile can I use it for business ?

[Entrepreneur9]

Hunny - you are making things complicated for yourself.

It doesnt matter whether you transfer funds to personal account or business account, from relatives account, to relatives account, from savings or for what ever.

You do not need to prove anyone where the funds have come from, you already have the visa.

At the time of extension, you just have to prove that you have invested £50000 in 3 years. FULL STOP

I am new to this forum and seeking your guidance , would be grateful if somebody guide me on this.

I got my visa end of June and showed funds £50 k in Pakistan with my partner in joint account . Now we need to transfer funds to uk to invest in business , my accountant said the best way is to transfer funds to uk business account directly but I have checked with bank they don't transfer directly to uk business account according to them there are state bank policies and they require many formalities I.e. proof,evidence and I am already in uk. How ever they don't have problem sending to uk personal account .

Is it ok if I first transfer to uk personal account and than to business account and than to invest. Secondly I am in uk is it ok if some relative of mine send me from Pakistan 50k.
Finally if I take money 50k from my relative in uk and give them from Pakistan 50k in order to avoid charges , will it be acceptable?


Really so confuse and need your advice .thanks

[Hunny]

Thanks a lot Entrepreneur9

Actually different people saying different things making problem more complicated. Infact I was thinking same like you but than somebody said u have to proof how did u transfer funds etc etc .

[Entrepreneur9]

Let me give you an example. 2 months back I met 2 solicitors in London as I wanted some help with my Tier 1 Entrepreneur application through 50k psw route. I have started an IT business and my education and experience is nowhere related to my business, not even 1%.

Anyways both of them said, my visa would be 100% refused if i make an application. They asked me to pay them between £3000 and £4000 so that they can help me start a business according to my education and experience.

I never paid even a single penny and applied for my visa on my own. I got the visa within 4 working days from the date I gave my biometrics.

Stop listening to those ID**TS and use some common sense.

Thanks a lot Entrepreneur9

Actually different people saying different things making problem more complicated. Infact I was thinking same like you but than somebody said u have to proof how did u transfer funds etc etc .

[Hunny]

Yes u r 100 percent right.
So the money we have over here as our savings 15k ,we will start investing and gradually will transfer funds from abroad as business grow , the important is to keep the record of everything while investing all 50k than to concentrate on how funds are transferred or managed from here . Am I right ?

Thanks a lot once again .

[Entrepreneur9]

Yes you are right.

UKBA just needs your money (50K) and creation of 2 jobs, they are not concerned on how the money gets transferred, from where and from whom.

They have better things to do.

Yes u r 100 percent right.
So the money we have over here as our savings 15k ,we will start investing and gradually will transfer funds from abroad as business grow , the important is to keep the record of everything while investing all 50k than to concentrate on how funds are transferred or managed from here . Am I right ?

Thanks a lot once again .

[KickAss]

Entrepreneur9 is correct in this case !
Apologies if my answer was a bit distracting. Plus its also not necessary that all that 50K must be transferred in a single go. The requirement is that the money must be made available to you and to your business after getting your visa and it should be invested in 3 years. I guess if you meet this than its good.

Hunny - you are making things complicated for yourself.

It doesnt matter whether you transfer funds to personal account or business account, from relatives account, to relatives account, from savings or for what ever.

You do not need to prove anyone where the funds have come from, you already have the visa.

At the time of extension, you just have to prove that you have invested £50000 in 3 years. FULL STOP

I am new to this forum and seeking your guidance , would be grateful if somebody guide me on this.

I got my visa end of June and showed funds £50 k in Pakistan with my partner in joint account . Now we need to transfer funds to uk to invest in business , my accountant said the best way is to transfer funds to uk business account directly but I have checked with bank they don't transfer directly to uk business account according to them there are state bank policies and they require many formalities I.e. proof,evidence and I am already in uk. How ever they don't have problem sending to uk personal account .

Is it ok if I first transfer to uk personal account and than to business account and than to invest. Secondly I am in uk is it ok if some relative of mine send me from Pakistan 50k.
Finally if I take money 50k from my relative in uk and give them from Pakistan 50k in order to avoid charges , will it be acceptable?


Really so confuse and need your advice .thanks

[Hunny]

Thanks a lot Entrepreneur9 and kickAss.

I must say many lawyers and accountants misleading people in this visa category to make money . Everyone saying different story , one told me no no u have to Invest only with the funds u showed abroad in ur initial visa even though I told him I have my savings here too. This sounds really funny .

Thanks once again God Bless you all

[Legal83]

its ok that you transfer first in personal account then in Uk business account, but whatever you do must provide a evidence that funds transferred legally, which means bank transfer....

[Lola22]

@ Entrepreneur9

Hey, hey, hey!

There are still some good solicitors and accountant out there. You just have to do your research well and be observant.

It's the same with every profession. It's be personality behind it that counts.