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urgent Regarding funds document

Only for UK Tier 1 (Entrepreneur) points system. This route is now closed to new applicants.

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Smartpen
Member
Posts: 152
Joined: Tue Apr 16, 2013 11:18 am
Location: London

urgent Regarding funds document

Post by Smartpen » Mon Jun 17, 2013 5:55 pm

Dear frnds,

My team applicant uncle transfer money to his account (£50000). Me n my team member both are appliying T1E visa. Now what he has to do that those money applicable to other team member (i.e. me )aswell. And he got the maintenance funds, £50000 in same account. Is it possible that both money same account.


Could you help me pls .... I don't have that's much time..... Urgent pls.....


Regards, & advance thanks.
Smart

nhpatel9
Junior Member
Posts: 82
Joined: Thu Mar 21, 2013 11:29 am
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India

Hi

Post by nhpatel9 » Mon Jun 17, 2013 6:12 pm

Get declaration from each other that money is available to both of you.

And yes it's fine if 50K and Mainteance is in same account. The total should more than 50,900 during the time of application and he should have maintained £900 for 90 days.

He needs to get 2 letter from bank . One for Maintence and other for 50K fund.

Hope this will help .

REGARDS.
Last edited by nhpatel9 on Mon Jun 17, 2013 6:19 pm, edited 1 time in total.

rehan01
Diamond Member
Posts: 1635
Joined: Fri Aug 10, 2012 7:05 am
Location: London

Post by rehan01 » Mon Jun 17, 2013 6:16 pm

Also both applicant need to have Psw visa to be eligible for 50k route.

U r applying as team but funds in ur uncle account so u both r third party to each other so get the proper declaration n legal representative letters.

My recommendation have funds in joint account if possible and get the declaration /consent in favour of each other.

Hope it help

Regards

Smartpen
Member
Posts: 152
Joined: Tue Apr 16, 2013 11:18 am
Location: London

Re: Hi

Post by Smartpen » Mon Jun 17, 2013 8:12 pm

nhpatel9 wrote:Get declaration from each other that money is available to both of you.

And yes it's fine if 50K and Mainteance is in same account. The total should more than 50,900 during the time of application and he should have maintained £900 for 90 days.

He needs to get 2 letter from bank . One for Maintence and other for 50K fund.

Hope this will help .

REGARDS.
Thnq for reply.....
In the forum only few weeks ago... one guy posted his one of the rejections due maintained both funds in same account, that's y I'm scaring.

Regards,
Smart

Smartpen
Member
Posts: 152
Joined: Tue Apr 16, 2013 11:18 am
Location: London

Post by Smartpen » Mon Jun 17, 2013 8:20 pm

rehan01 wrote:Also both applicant need to have Psw visa to be eligible for 50k route.

U r applying as team but funds in ur uncle account so u both r third party to each other so get the proper declaration n legal representative letters.

My recommendation have funds in joint account if possible and get the declaration /consent in favour of each other.

Hope it help

Regards
Thnq very much for reply

V r in PSW, funds r in my business partners account, it was Lloyds, right now bank is changing to TSB. N it vl be 3 months for our company incorporated by this 25th June. V should file vth in 3months.

Regards,
Smart

rehan01
Diamond Member
Posts: 1635
Joined: Fri Aug 10, 2012 7:05 am
Location: London

Post by rehan01 » Mon Jun 17, 2013 8:25 pm

Ok so u will be relying on third party as funds in your business partner account?

Here r few question:

What is ur share in funds?
Where did u get funds from?
Why funds in your busines partner account?
Why funds not in joint account if u both have 50% share?

These r few possible questions u better prepare urself n also u will need declaration / consent letter that both have equal excess to funds etc also letter frm bank but remember bank will not write ur name as funds in ur business partner account.

My recommendation have funds in joint account will make things bit easier.


This is just my thought not an advise u have to follow


Hope it help

Regards

Smartpen
Member
Posts: 152
Joined: Tue Apr 16, 2013 11:18 am
Location: London

Post by Smartpen » Mon Jun 17, 2013 9:41 pm

rehan01 wrote:Ok so u will be relying on third party as funds in your business partner account?

Here r few question:

What is ur share in funds?
Where did u get funds from?
Why funds in your busines partner account?
Why funds not in joint account if u both have 50% share?

These r few possible questions u better prepare urself n also u will need declaration / consent letter that both have equal excess to funds etc also letter frm bank but remember bank will not write ur name as funds in ur business partner account.

My recommendation have funds in joint account will make things bit easier.


This is just my thought not an advise u have to follow


Hope it help

Regards
Actually my partner is my close frnd, he is sponsoring and his uncle today transferred funds to his account.
Smart

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