Help on Tier 1 Initial application form (Switching)

[ssmnabd]

Hi all,

I am currently applying for tier 1 Uk visa. For which i have a part of my own investment and the rest as third party letters. My quieries are:

1. Should all the third party letters from the banks be obtained on the same date.

2. Can i get a format of "declaration from the third party", which is of the current year as per the recent changes in 2018.

3. Also a format of the bank letter for the third party.

Thanks in advance.

[ssmnabd]

Hi all,

I am currently applying for tier 1 Entrepreneur UK visa. For which i have a part of my own investment and the rest as third party letters. My queries are:

1. Should all the third party letters from the banks be obtained on the same date.

2. Can I get a format of "declaration from the third party", which is of the current year as per the recent changes in 2018 for reference purpose

3. Also a format of the bank letter for the third party as reference

Thanks in advance.

[marcnath]

1. No
2 and 3. Please read the guidance. Templates are provide there - Pg 66

[ssmnabd]

Thanks for your quick response.

I had a look at the letter from Financial institution. It mentions that "If these funds are
already in the United Kingdom,the date of entry to the United Kingdom must be given". In my case, Iam going to apply for Leave to Remain as Iam in UK for last 2 years.

My friend is one of the third party investor. He has been in UK for last 6 years and intend to invest his savings & funds in his bank as third party funds for my application. The full amount which he plans to invest is not ready and might get this only two weeks before I make the application. In this case, since money is already in UK, what is the date I need to mention.

[ssmnabd]

I went through the template in page 66. This appears to be the template for the letter to be obtained from the bank for my self. Can you please let me know if there is a template for the 3rd party to obtain from his bank.

[ssmnabd]

Hi Everyone,

Can you please let me know on the template for the third party funding. Page 66 in the guideline seems to be the bank letter for self.

[marcnath]

No need to start a new post for every question.

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.

There is no need for the letters to be on the same date, but it has to be clear that they cover the same date for the funds

[ssmnabd]

Thanks Marcnath for your response. Can you please let me know on the clarity with respect to cover the same date of the funds.

Also request your support to let me know where to find the template for third party bank letter as the one in page 66 seems to be for the bank letter for self.

[marcnath]

Thanks Marcnath for your response. Can you please let me know on the clarity with respect to cover the same date of the funds.

Also request your support to let me know where to find the template for third party bank letter as the one in page 66 seems to be for the bank letter for self.

The basic principle is that the total should add up to 200K on a specific date. So you can have a bank letter on the 2nd, 5th and 10th of the month - but they should all say that, for example, on the 1st there was x,y, z amounts that total up to 200K.
Otherwise you could just move 50K across 4 different banks and get each bank to give you a letter of 50K each being available on 4 different dates.

I am not aware of any template for the third party funds but first 4 paragraphs of the template in Pg 66 should be usable with an additional line that says "that the institution is not aware of the third party having promised to make that money available to any other person"

[ssmnabd]

Thanks Marcnath....I understand this point better now.

Regarding the third party bank letter, I understand that this statement If these funds are already in the United Kingdom, the date of entry to the United Kingdom must be given is not applicable when I get the letter from the third party.

Thank again for providing the clarifications.

[ssmnabd]

Dear Members,

Iam currently in UK and plan to switch to Tier 1 Entrepreneur. In this regard, I am preparing the application form. For my case, I rely on my own funds + third party funding from 3 other friends. In the application, I presume section G6. You must provide evidence of the amount of money available to invest. If you are applying for leave to remain, the money must be held in the UK. This will be one of the following documents (please confirm how many of each document has been supplied, or put a cross in the box for any document that has not been supplied). Number of documents
A letter from each financial institution holding the funds confirming the amount of money held in that institution; is for my bank details and section G7 Applicants not using funding from venture capital firm, seed fund or UK Government Department: Are you relying on third party funding? If you have held the money for less then 90 consecutive days up to 31 days before the application, you must provide the evidence for third party funding: is for third party funding.

The third party funding is not available in my bank. The funds are in the investors bank account and they have agreed to give the Bank letter and declaration.

The question is, for my case, shall I select G7 as yes and provide the details.

Thanks in advance for your support.

[CR001]

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