3rd party loan agreement

[SBCCZ89]

Hi,

I am on Tier1 entrepreneur with 3rd party investment. 3rd party is sending money directly from his account to my business account. I need to know what kind of agreement I should do as director loan. Is that in between the company and the 3rd party. Please advise

Regards

[zimba]

Hi,

I am on Tier1 entrepreneur with 3rd party investment. 3rd party is sending money directly from his account to my business account. I need to know what kind of agreement I should do as director loan. Is that in between the company and the 3rd party. Please advise

Regards

Read the guide !! A third party has to make the money available to you in a letter and no it is not a loan agreement. There is a template in the guide for this.

[ishfaqsangra]

As I understand youalready have tier1.
Technically money from 3rd part should come into your personal account first then you invest it into company as directors loan as and when required.
For extension they need your personal account statements and your business account to cross match.
3rd party transferring direct into your account may also be acceptable as you have shown and received visa on that bases but I am not sure how it will fit into Directors loan and home office guidence of funds invested by you as they request personal account statements.....somebody with better understanding hopefully will explain here...

[SBCCZ89]

Hi,

Thanks for your reply. My third party is investing money on my business account directly from her personal account. When I applied for tier 1, I submit a declaration form the third party for the fund which is ready on her account to invest on my business. I do have a standard agreement for the money which I am taking as a loan for five years. Is that will be enough for my extension. OR I have to provide more document in regards to this. Also should I have to submit my business bank account statement along with my third party's personal bank account statement as a prove or mine business account statement will be enough to prove that money has been invested from her account to business.

Thanks in advance

Regards

[Hellopino]

Hi all,

I think it will be sufficient. Please read Policy guidance "133. If you provided evidence of the funds as part of your last successful application you do not need to provide that evidence again."

from this perspective, I don't think we have to provide third party statement again unless requested by UKVI.

regards

[ishfaqsangra]

I got visa with third party and I am requesting him to transfer money to my personal account first and then I am transferring it to Business Bank Account as Directors Loan.So there is evidence that the available money was transferred to me. There is no such condition on Third Party agreement that it is loan and this and that.

The format simply required the availability of money and relation. It was not mentioned that money will directly go to Business account by 3rd party there should be evidence that that available money was invested in business but Ideally it should have been the transfer to yourself first then from you to business.

[SBCCZ89]

Dear Value Team Mmbers and Gurus,

My 3rd party already given fund to my business account directly. I have done the investment as well. What's your advise on this? Do you think due to that HM might raise question for this? I am not really clear on this matter from the guide line. Need your help and suggestion as a matter of urgent.

Thanks is advance

[zimba]

Dear Value Team Mmbers and Gurus,

My 3rd party already given fund to my business account directly. I have done the investment as well. What's your advise on this? Do you think due to that HM might raise question for this? I am not really clear on this matter from the guide line. Need your help and suggestion as a matter of urgent.

Thanks is advance

No you need to transfer money under your name for DL. You better to use Share Capital option instead and provide a 3rd party agreement