Is taking a loan of £200000 as funds allowed?

[ska2014]

Hi,

Is it allowed that a spouse of Tier 1 Entrepreneur application takes a loan of £2,00,000 and keep it in the applicant's bank account until spent, acceptable as funds for the visa application? Applying from outside country.

Thank you.

[marcnath]

Hi,

Is it allowed that a spouse of Tier 1 Entrepreneur application takes a loan of £2,00,000 and keep it in the applicant's bank account until spent, acceptable as funds for the visa application? Applying from outside country.

Thank you.

There are no restrictions on where and how you source the funds. It just needs to be cash in your bank account for 90 days, at a minimum

[ska2014]

Thank you!

[VBK]

It is not mentioned anywhere that you need to keep it for 90 days or three months in ukba official website.

[marcnath]

It is not mentioned anywhere that you need to keep it for 90 days or three months in ukba official website.

There is no UKBA anymore, so I appreciate that it will not be found on an non-existent website.

But you will find it in the Tier 1 Entrepreneur guidance documents.

[ska2014]

Hi, Just a follow up about 90 days requirement, please. If I make the applicants (entrepreneur husband and wife team based in India) as directors to my UK registered company and they send the money to my UK business bank account, does the 90 days rule still apply to either party? I read about money invested in the last 12 months but not sure if this applies to extension applications only. Or does it apply to initial applications too?

And also it is not technically invested and just that they will be joining the business and was wondering if it helps that they have already transferred the funds into an existing business in the UK. Does it give strength to an application if the money is already in a UK business account and they are both directors? Any watchpoints you could please share?

We were thinking for them to make an exploratory trip. Can a Family visit visa be okay or do they need a business visa?

[marcnath]

Hi, Just a follow up about 90 days requirement, please. If I make the applicants (entrepreneur husband and wife team based in India) as directors to my UK registered company and they send the money to my UK business bank account, does the 90 days rule still apply to either party? I read about money invested in the last 12 months but not sure if this applies to extension applications only. Or does it apply to initial applications too?

Money already invested applies to new applications also

And also it is not technically invested and just that they will be joining the business and was wondering if it helps that they have already transferred the funds into an existing business in the UK. Does it give strength to an application if the money is already in a UK business account and they are both directors? Any watchpoints you could please share?

What do you mean by not technically invested ? How will you account for the money in the business bank account ?

We were thinking for them to make an exploratory trip. Can a Family visit visa be okay or do they need a business visa?

There are no family visas or business visas - there is just one visit visa

[CR001]

There are no family visas or business visas - there is just one visit visa

Users posts form 2016 asking similar questions might be relevant, as suspect this topic is a continuation of getting elderly parents here.

uk-tier-1-entrepreneur-visas/entreprene ... l#p1402804