Funds Transfer for Tier1 Entrepreneur

[sajjii]

Dear Friends,

I have lot of confusion, Please share your valuable thoughts and opinion for below question.

we (team members) showed funds from Pakistan in joint account (joint account in Pakistan with both name). Our file was still in under process and we were required funds, so my partner's father had account in foreign currency (GBP) in Pakistan. We authorized him to withdraw our funds and transfer funds from his GBP account to in our company account. He transferred £50200/- in our company/ business account. In our business account, my partner father name is appearing.
I am to much worried, how can we justified that these were our funds?
How to make director loan agreement and justify that we have provided unsecured director loan to our business?
Please answer as much as possible
thanks

[zimba]

Money must come from you, not from someone else. Most of the people here make the same mistake thinking that ANYONE can send them money.
The rules require you to SHOW that money came from you or your partner. Better to go the share capital route instead !

[Mak9878]

Dear Friends,

I have lot of confusion, Please share your valuable thoughts and opinion for below question.

we (team members) showed funds from Pakistan in joint account (joint account in Pakistan with both name). Our file was still in under process and we were required funds, so my partner's father had account in foreign currency (GBP) in Pakistan. We authorized him to withdraw our funds and transfer funds from his GBP account to in our company account. He transferred £50200/- in our company/ business account. In our business account, my partner father name is appearing.
I am to much worried, how can we justified that these were our funds?
How to make director loan agreement and justify that we have provided unsecured director loan to our business?
Please answer as much as possible
thanks

Simply you both should have called funds into your or your friend personal account and then should have transferred to business account as reference "director loan"..

[Meesha]

Money should have come from you not from your father's account. Now you should opt for share capital investment.