Bank Accounts for Extension Application

[wanttostayintheuk]

Hello, I am wondering if someone can clarify the following for me:

Is it true that the 200k does not specifically have to be 'spent' - as long as it has been transferred to the business via Director's Loan? In other words, when it comes time to renew my visa, let's say 200k has been transferred to the business via Director's Loan, but only 40k has actually been spent. Is that still considered sufficient? Thanks

[marcnath]

Hello, I am wondering if someone can clarify the following for me:

Is it true that the 200k does not specifically have to be 'spent' - as long as it has been transferred to the business via Director's Loan? In other words, when it comes time to renew my visa, let's say 200k has been transferred to the business via Director's Loan, but only 40k has actually been spent. Is that still considered sufficient? Thanks

Yes. That's correct.

But a business that has only spent, 40K in three years would definitely be screened for genuineness

[wanttostayintheuk]

Thank you

[wanttostayintheuk]

Do most people applying for an extension re-submit an updated business plan, or simply relay how they have/haven't been sticking to the original plan? Are we to presume that even if we don't re-submit the original plan, they will have it in their records and be checking against it?

[marcnath]

Do most people applying for an extension re-submit an updated business plan, or simply relay how they have/haven't been sticking to the original plan? Are we to presume that even if we don't re-submit the original plan, they will have it in their records and be checking against it?

The only requirement is that you must provide something that shows "how you are implementing your business plan"

[wanttostayintheuk]

Hello, is it true that you don't necessarily need to submit all your documents on the date of your online application? If so, is it simply a matter of booking your biometrics appointment and submitting them at that time? Thanks

[wanttostayintheuk]

Thanks Marcnath

[wanttostayintheuk]

Hi - with our extension application, are we supposed to include all our business bank statements showing every transaction we've made - or is it simply a matter of singling out transactions related to the 200k investment? Thanks a lot.

[marcnath]

Hi - with our extension application, are we supposed to include all our business bank statements showing every transaction we've made - or is it simply a matter of singling out transactions related to the 200k investment? Thanks a lot.

As far as I recall, there is no requirement for any business statement with respect to investment.
It will be useful if you can point out which part of the guidance you are trying to meet?

[wanttostayintheuk]

Hi Marcnath. Well as an example, in the documents checklist that I got from the Home Office, one of the items on the list is :' Business bank accounts (which you are a signatory of) showing transactions.' So does that mean we need to include all the bank statements for our business account?

Regarding the 200k part, I recall it saying somewhere that the 200k investment should be evident in readily identifiable transactions. But mostly I am just conerned with whether I need to include all my bank statements. Thanks

[marcnath]

Hi Marcnath. Well as an example, in the documents checklist that I got from the Home Office, one of the items on the list is :' Business bank accounts (which you are a signatory of) showing transactions.' So does that mean we need to include all the bank statements for our business account?

Regarding the 200k part, I recall it saying somewhere that the 200k investment should be evident in readily identifiable transactions. But mostly I am just conerned with whether I need to include all my bank statements. Thanks

For the first part, it is not a requirement for evidence of investment - it is evidence of a business established in the UK. So any one statement will do.

On the second part, Bank statement is not a necessity but is the easiest way of evidencing that the money came from you personally. But it could be a copy of your remittances, for example. And if you are using bank statements for that, you only need those specific statements that show the transactions.