Access to funds during initial leave

[Camel555]

Pls can someone clarify the following point of T1E guidance:

48. If you already have leave as a Tier 1 (Entrepreneur) migrant we may curtail your leave if the funds you have used to apply cease to be available to you (unless you have spent them in the establishment or running of your business or businesses)

Does this mean that vis holder can be checked during the initial leave and, can we not move funds temporarily into other investments etc?

[Camel555]

@zimba and other knowledgeable members pls help me with above

[seasky]

Pls can someone clarify the following point of T1E guidance:

48. If you already have leave as a Tier 1 (Entrepreneur) migrant we may curtail your leave if the funds you have used to apply cease to be available to you (unless you have spent them in the establishment or running of your business or businesses)

Does this mean that vis holder can be checked during the initial leave and, can we not move funds temporarily into other investments etc?

Correct.

Starting a new business is a very daunting (and gratifying) experience, why would you want to deploy them elsewhere? Of course if the investment is liquid (e.g. a savings account) then sure go ahead.

[Camel555]

Pls can someone clarify the following point of T1E guidance:

48. If you already have leave as a Tier 1 (Entrepreneur) migrant we may curtail your leave if the funds you have used to apply cease to be available to you (unless you have spent them in the establishment or running of your business or businesses)

Does this mean that vis holder can be checked during the initial leave and, can we not move funds temporarily into other investments etc?

Correct.

Starting a new business is a very daunting (and gratifying) experience, why would you want to deploy them elsewhere? Of course if the investment is liquid (e.g. a savings account) then sure go ahead.

Thank you,
so the portion of investment which is not required immediately can not be invested and cashed again with profit when the time comes to invest?
that's a very unfair and tough restriction don't you think, although we have to take it or leave it.
if my business requires 100k funding in first 18 months and 100k later, then I cant make a better use of later part of investment now? moneys laying in banks are useless...

[ishfaqsangra]

Can we move them from one account to another(Personal)before investing in business ?
I understand the required funds needs to be available (unless spent) to you irrespective of the account no.
Am I right?

[seasky]

Pls can someone clarify the following point of T1E guidance:

48. If you already have leave as a Tier 1 (Entrepreneur) migrant we may curtail your leave if the funds you have used to apply cease to be available to you (unless you have spent them in the establishment or running of your business or businesses)

Does this mean that vis holder can be checked during the initial leave and, can we not move funds temporarily into other investments etc?

Correct.

Starting a new business is a very daunting (and gratifying) experience, why would you want to deploy them elsewhere? Of course if the investment is liquid (e.g. a savings account) then sure go ahead.

Thank you,
so the portion of investment which is not required immediately can not be invested and cashed again with profit when the time comes to invest?
that's a very unfair and tough restriction don't you think, although we have to take it or leave it.
if my business requires 100k funding in first 18 months and 100k later, then I cant make a better use of later part of investment now? moneys laying in banks are useless...

I don't think it is unfair at all. Either you are serious about being an entrepreneur or not. So if you have unforeseen difficulties in your business (happens all the time....) you will go bankrupt because you do not have access to the funds.

If you think you are a wizard investor and can make great use of the £100K, better than the returns of your new business than I suggest you stay an investor.

Lastly I guess technically you can inject the funds to the business and the business makes the investment

[Camel555]

Thanks a lot seasky, makes sense and I guess you are right when you say business requiring unforeseen cash during the initial period of investment. Probably that's why HO has made this rule to ensure entrepreneurs don't deviate from their plans.

[zimba]

Pls can someone clarify the following point of T1E guidance:

48. If you already have leave as a Tier 1 (Entrepreneur) migrant we may curtail your leave if the funds you have used to apply cease to be available to you (unless you have spent them in the establishment or running of your business or businesses)

Does this mean that vis holder can be checked during the initial leave and, can we not move funds temporarily into other investments etc?

YES, money MUST remain available to you until it is fully invested in the business. Losing access to your money means that your leave can be curtailed !!

so the portion of investment which is not required immediately can not be invested and cashed again with profit when the time comes to invest?
that's a very unfair and tough restriction don't you think, although we have to take it or leave it.
if my business requires 100k funding in first 18 months and 100k later, then I cant make a better use of later part of investment now? moneys laying in banks are useless...

No it is fair. Tier 1E is not suppose to be poor man's Tier 1 Investor route.
You have been granted three years of visa based on an initial claim that you are intending to use the available money you have in some business(es). Based on this claim, you have been granted 3 year initial visa. If you lose access to your money for whatever reason, the initial claim made by you is not true any more.

[Camel555]

yes I think its fair, after all the abuse and misuse of visa schemes....

I was under the impression that one just has to invest the funds in the business at his/her own planning, didn't know that the funds not invested could be checked "during" the investment process,