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Evidence of Funds in Business Account.

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

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GoodBusiness
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Nigeria

Evidence of Funds in Business Account.

Post by GoodBusiness » Mon Oct 16, 2017 1:28 pm

Hi Forum Members,

Thank you for all your helpful posts and discussions on this board.

I am currently on Tier 1 (graduate) entrepreneur about to switch to Tier 1 entrepreneur and I want to ask if funds in my business account can be used as part of investment funds required for the application? I have been a bit confused going through the guidance notes. Your comments will be most appreciated.

Thanks and Kind regards,
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marcnath
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Location: Milton Keynes
United Kingdom

Re: Evidence of Funds in Business Account.

Post by marcnath » Mon Oct 16, 2017 2:03 pm

What is the source of those business funds ?
My comments are in no way meant to be advisory. I have no professional knowledge of immigration. These are based on my own experience, convictions and personal interpretation of publicly available information.
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GoodBusiness
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Nigeria

Re: Evidence of Funds in Business Account.

Post by GoodBusiness » Mon Oct 16, 2017 11:04 pm

marcnath wrote: ↑
Mon Oct 16, 2017 2:03 pm
 What is the source of those business funds ?
Hi Marcnath,
The funds are unsecured director's loan (myself and wife who is co founder and applying as my dependant) and money from sales.
Thanks for responding.
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marcnath
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Re: Evidence of Funds in Business Account.

Post by marcnath » Mon Oct 16, 2017 11:10 pm

The portion of funds that is a DL from you can be used.
My comments are in no way meant to be advisory. I have no professional knowledge of immigration. These are based on my own experience, convictions and personal interpretation of publicly available information.
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GoodBusiness
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Joined: Wed Oct 11, 2017 3:45 pm
Nigeria

Re: Evidence of Funds in Business Account.

Post by GoodBusiness » Wed Oct 18, 2017 2:09 pm

Thank you MacNarth.
One more question please, does this equate shareholder's funds as shown in the balance sheet?
Kind regards
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marcnath
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Re: Evidence of Funds in Business Account.

Post by marcnath » Wed Oct 18, 2017 2:36 pm

You should discuss that with your accountant.

Normally DL is shown in liabilities rather than shareholder funds.
My comments are in no way meant to be advisory. I have no professional knowledge of immigration. These are based on my own experience, convictions and personal interpretation of publicly available information.
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