Tier 1 Entrepreneur Extension

[vishal80]

Hi Zimba

I was reading all your valuable responses. My condition is quite similar to the above. I got my T1 entrepreneur visa (VC route 50k) in 2020 and this December 2022 I am applying for my extension but my worry is my VC is not responding me due to covid crisis. At the moment I am running my business well.

Is there any possibility i can invest 50k into my business account via Family / Third party transfer??
Please need your response.

Thanks
vishal

[vishal80]

Further to my above query I would like to ask can I get another VC if my VC is not responding during preliminary application.

[zimba]

Hi Zimba

I was reading all your valuable responses. My condition is quite similar to the above. I got my T1 entrepreneur visa (VC route 50k) in 2020 and this December 2022 I am applying for my extension but my worry is my VC is not responding me due to covid crisis. At the moment I am running my business well.

Is there any possibility i can invest 50k into my business account via Family / Third party transfer??
Please need your response.

Thanks
vishal

No, you need to invest 200K
uk-tier-1-entrepreneur-visas/tier-1-50k ... l#p2066307

[vishal80]

Any third party transfer to my business ac is possible in stead the VC.

[zimba]

50K can only come from VCs or Seed funding Competition approved by UKTI or UK Government Departments
Read the guide: https://assets.publishing.service.gov.u ... _10.21.pdf

[vishal80]

Any third party can transfer £50k to my business account is possible in stead of the VC???

Please waiting for your reply.

[zimba]

Any third party can transfer £50k to my business account is possible in stead of the VC???

Please waiting for your reply.

Read the answer above

[vishal80]

Thanks zimba for your kind help. If i can arrange 200k from my family and friends and they can transfer to my UK bank personal account.

1. Should I keep some time (90 days) in my personal account or i can straight away transfer to my UK business account?

2. Do I need to provide my company bank statement where it shows 200k and i need to explain the investment in the cover letter at the time of applying the extension?

[zimba]

Thanks zimba for your kind help. If i can arrange 200k from my family and friends and they can transfer to my UK bank personal account.

1. Should I keep some time (90 days) in my personal account or i can straight away transfer to my UK business account?

2. Do I need to provide my company bank statement where it shows 200k and i need to explain the investment in the cover letter at the time of applying the extension?

You clearly have no interest to read the official guide as now repeated several times. All your questions are answered there. You need to keep the money for 90 days and provide specific evidence to score points. Read the guide

[vishal80]

Hello
Can anyone help me below queries.
I got thru my Tier 1 entrepreneur visa approved in January 2020. This year I have to apply for my extension in December 2022. But I was approaching to my initial VC but they never come back to me. I found another company which is just FCA registered.

1. Should the company also be venture capital?
2. Is this loan should be secured or non secured?
3. My initial application was thru 55k route. So should I go thru this 55k route or 50k route with the new company?
Notes: The new financial company deals with insurance, commercial loan etc.

[zimba]

50K can only come from VCs or Seed funding Competition approved by UKTI or UK Government Departments
Read the guide: https://assets.publishing.service.gov.u ... _10.21.pdf