Access to funds

[ssmnabd]

Hello Everyone,

I was going through the Tier 1 Entrepreneur visa Policy guideline. In page number 9 /71 section - Access to funds, there is the below statement:

"Available money must be cash, not in Individual Savings Accounts (ISAs) or other assets such as
stocks and shares.
Where multiple documents are provided, you must show the total amount required is available on
the same date"

Can you please explain me on the expectation from the above highlighted text. I intend to show the 200K as partly through own funds and party through third party funding ( 3 separate parties).Does it mean, I need to get all the 4 bank letters on the same date.

Looking forward to hear your feedback.

[kaps84]

Does it mean, I need to get all the 4 bank letters on the same date.

Well one way of doing that is to have the letters on the same date. However, that's not the only way.

Say if you take 4 letters on 01, 03, 05 and 10th of a month.

then as on 1st of the month, total money collectively needs to be £200K.
You will have to supply the bank statements (from all the accounts), showing that as on the 1st of the month (total money was 200K). and It's just that you took the letters from the banks on different dates.

You can ask the banks to state it in the letter that as on the 1st of the Month, the total money in the account is £XX,XXXX.

Basically, what they don't want is that after taking letter from the bank, you route the money to another bank/account and use the same money to get the letter there. (hence, on the same date the money should add upto £200K).

[kaps84]

Ah I see, @marcnath has already replied you in a separate thread:

uk-tier-1-entrepreneur-visas/third-part ... 53794.html