what if the business needs less than 200k

[Nejad]

Hi all,
We are apllying as Tier 1 entrepreneur team with 200k £, my question is if our business does not need to spend all of this money and the annual income helps enough to cover the expenses and profit, 1) should we invest all 200k at once in the business account?
2) do we still need to freez the money ( lets say 100k) that was not needed?
3)if yes, how long and can it be in personal account or it should be in business account
4) as a team if we buy share of a running business in UK , if both of us by some shares in our own names ( lets say each 25k) and some part of money be still in our own bank accout (lets say 75 on each team member) . Does it still counts as team 200k?!

Thanks and regrds

[marcnath]

Hi all,
We are apllying as Tier 1 entrepreneur team with 200k £, my question is if our business does not need to spend all of this money and the annual income helps enough to cover the expenses and profit, 1) should we invest all 200k at once in the business account?

Yes, before you submit your renewal application.

2) do we still need to freez the money ( lets say 100k) that was not needed?

3)if yes, how long and can it be in personal account or it should be in business account

Not sure what freez means.

4) as a team if we buy share of a running business in UK , if both of us by some shares in our own names ( lets say each 25k) and some part of money be still in our own bank accout (lets say 75 on each team member) . Does it still counts as team 200k?!

Thanks and regrds

No. It has to be invested before your renewal application

[Nejad]

Thanks. We are at the very beginning stage for getting our first tier 1 entrepreneur visa. So if i understand you correctly when we get our visa we should invest all 200k in the business account not a part it, iassumed we can invest 100k at the begining and still keep the rest of 200k, which is 100k in our own bank account not in business. But have the balance available at all time when we enter to country.

[zimba]

You need to have access to the 200K at all times until it is fully invested in your businesses. For extension, you must demonstrate that the money was fully invested in your business(es)

[Nejad]

Thanks for your prompt reply.