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Entrepreneur visa: Previous funding vs fresh investment

Only for UK Tier 1 (Entrepreneur) points system. This route is now closed to new applicants.

Moderators: Casa, John, ChetanOjha, archigabe, CR001, push, JAJ, ca.funke, Amber, zimba, vinny, Obie, EUsmileWEallsmile, batleykhan, meself2, geriatrix

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manasabi
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Joined: Thu May 19, 2016 7:15 pm

Entrepreneur visa: Previous funding vs fresh investment

Post by manasabi » Thu May 19, 2016 7:19 pm

Hi everybody,

I am currently on graduate entrepreneur visa and applying for entrepreneur visa.
I have raised £190k from third-party (angel investors) in seed round. I closed the round last month(April) and the money is in my UK business bank account.

Now that I am applying for entrepreneur visa, I see there are 2 categories given in guidance document:-

1) Previous funding - Money already invested in UK business(Guidance document - Page 27): The money has already gone into the company's bank account, so is the money considered already invested ?
2) Fresh investment - money available must be in a regulated financial institution(Guidance document - Page 31): Since the money is in business bank account(and I am the director of this business) and it is available to invest in the business. So, would it be considered as money available ?

I am confused that which category do we come under. Can somebody please suggest ?

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zimba
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Re: Entrepreneur visa: Previous funding vs fresh investment

Post by zimba » Thu May 19, 2016 10:54 pm

You can either show you have access to money or your u already invested the required money in your business.

- Access to money or fresh investment: money to be must be in your possession or made available to you by a third party. You need to provide documentary evidence as required by the guide for this

OR

- Already invested money or previous investment: Money is considered invested if you provide specific documentary evidence that funds were transferred to your business already, but the documents required to prove this are annual accounts, loan agreement or share certificates, etc. You usually need to show this for your extension but if you wish, you can do it in your initial application and score the investment points right form the start.
Advice is given based on my personal research and experience only. Do NOT contact me via private message for immigration advice

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