Business has a UK bank account of which you're a Signatory

[bajo85]

Dear respected members and gurus,

Applicants are required to send proof of bank account of businesses in which they have invested. It could be a bank statement or bank account signatory confirmation letter in accordance with the following extract from policy guidance,

a) Company bank statement showing that the company has a UK account; or
b) A letter from the UK- regulated bank, on its headed paper, confirming that the company has a bank account and you are a signatory of that account.

What I understand is, If investing by way of SHARE CAPITAL, applicants are not required to show the "Money transfer transaction(s)" thus they can provide either a bank statement or signatory confirmation letter.

If investment is made in the form of DIRECTOR'S LOAN then they MUST submit bank statement(s) showing the "Money transfer transaction(s)" together with Signatory confirmation letter

Dear gurus, please guide me if I understood this part of guidance correctly?

[zimba]

If investment is made in the form of DIRECTOR'S LOAN then they MUST submit bank statement(s) showing the "Money transfer transaction(s)" together with Signatory confirmation letter

No, the letter is not required if you are sending bank statements in any case

[bajo85]

Thank You guru Zimba88

Sir please comment on the following

What I understand is, If investing by way of SHARE CAPITAL, applicants are not required to show the "Money transfer transaction(s)" thus they can provide either a bank statement or signatory confirmation letter.

Will providing bank account signatory confirmation letter be enough (in case of share capital investment )

Thank you

[live4pride]

In this case I provided a letter from Bank on Headed paper/stationary with all details as requested along with the relevant section. In addition I also included 3 months bank statements in a separate folder labelled as Other Additional Documents. I have just applied so cant say much. As per the guidance submitting business bank statement are not a requirement to prove share capital investment but is required to prove you are a signatory and business has a uk business bank account therefore I submitted both documents. Hope it helps?

[zimba]

No need to send bank statements for share capital, only send the most recent statement to prove you have a business bank account

[bajo85]

Thank You @live4pride ... Wish you good luck

[bajo85]

Thank You Sir @Zimba88

[samaygrg]

In this case I provided a letter from Bank on Headed paper/stationary with all details as requested along with the relevant section. In addition I also included 3 months bank statements in a separate folder labelled as Other Additional Documents. I have just applied so cant say much. As per the guidance submitting business bank statement are not a requirement to prove share capital investment but is required to prove you are a signatory and business has a uk business bank account therefore I submitted both documents. Hope it helps?

Agreed, I had been to my business banks to ask for these sort of letters. They were very reluctant saying the statement itself confirms that business has got account and about its signatory. And I couldn't go much insisting for one as they had points.