Proof of Investment 50K URGENT PLEASE

[asharali110]

Hi,

I sent my Entrepreneur visa extension in April 2017 and the visa has been refused now on the basis that the funds were not transferred from the personal account to the business account. When I applied the visa the funds were in third party account in Pakistan and because of the the bank charges we did not transfer the funds instead we brought the funds in cash as an when we needed. But now they are asking for proof, will it be acceptable that we brought funds in cash as we have receipts showing the purchases of 50K investment via cash?

Regards
Syed

[CR001]

Cash as in notes?

How much cash did you enter the UK with each time?

Were the funds declared to customs?

[asharali110]

Hi,

thanks for your reply and yes cash mean in notes. We applied the visa as a team and me, my business partner and our wives visited Pakistan a few times and we brought £6,000 - £7,000 each time time but it was not declared to customs as the amount was below the amount you need to declare.

[Faheemryk]

I’m very sorry to hear about your refusal.

Did you show investment in the form of director loan ?

If it was, then you were supposed to show bank transfers from personal account to business account, supported by director loan agreements .

If you were bringing cash, then you could have deposited cash in the personal account, and then transfer in the business account so that you can meet requirement.


Another possible solution NOW, might be to restate accounts and show investment in the form of share capital. According to my knowledge, you don’t need to show bank transfers for share capital investment. However I’m not 100% sure. May be gurus can guide something.

However, I believe this situation can be sorted out, may be through fresh application

[marcnath]

Hi,

thanks for your reply and yes cash mean in notes. We applied the visa as a team and me, my business partner and our wives visited Pakistan a few times and we brought £6,000 - £7,000 each time time but it was not declared to customs as the amount was below the amount you need to declare.

Did you then deposit the funds into the bank account ? If so, do you have the pay in slips ?
The immigration rules require that the investment needs to be identifiable as coming from you. What evidence can you provide to show that ? Was the withdrawal from the account where the money was shown for your application coinciding with the dates of travel for the four of you ?
This is going to be tough. But your options are to gather all the evidence to show the money you showed initially was the one that was invested and make a fresh application.
You can also convert all of that as share capital (which then removes the requirement to show the fund transfer) and make a fresh application.
Unfortunately, your chances in an AR are very low (assuming you showed your investment as a DL), so correcting the documentation and submitting a fresh application would be the best approach.

[asharali110]

Hi,

thanks for your reply, we thought about depositing cash into the bank but the banks charge fee on even depositing cash and we purchased vehicles by cash which was the preferred method of payment at the time.

[zimba]

No that way you did not invest as required by the rules. You must show money was indeed came from you to your business

[marcnath]

Hi,

thanks for your reply, we thought about depositing cash into the bank but the banks charge fee on even depositing cash and we purchased vehicles by cash which was the preferred method of payment at the time.

Unfortunately, the saying "penny wise pound foolish" comes to mind. Bank charges would have worked out a few hundred pounds in the worst case. You will, at the minimum, spend 4 x application fees now.

50K worth of Vehicles purchased by cash is going to be difficult to explain.

In general, not surprised that this was rejected.

Changing it to share capital is one way but investing another 50K, if you can, and properly now is a much safer bet.

Having said that, has HO asked you for evidence that you maintained access to the 50K until it was invested ?

If you can't show that you had access to the full amount throughout, HO would be within their right to curtail the original grant.

[asharali110]

Thanks for your reply, I actually can invest another 50K into the business but will it have to be in the same business or a new one? And if that visa is rejected I think it can break my 10 years as I only need 13 months now.

HO did not ask for evidence that I maintained access to the 50K until it was invested.

I only need 13 months to complete my 10 years, what do you think the best route should be please?

[bizman]

Hi,

I sent my Entrepreneur visa extension in April 2017 and the visa has been refused now on the basis that the funds were not transferred from the personal account to the business account. When I applied the visa the funds were in third party account in Pakistan and because of the the bank charges we did not transfer the funds instead we brought the funds in cash as an when we needed. But now they are asking for proof, will it be acceptable that we brought funds in cash as we have receipts showing the purchases of 50K investment via cash?

Regards
Syed

It really depends on how you show your investment to HO. Did you invest as shares or Director Loans. If you invested as shares, you will have to show that in your annual accounts, if through DL you have to show it by transfers from your personal accounts to business account with a DL agreement.

[Momi]

Thanks for your reply, I actually can invest another 50K into the business but will it have to be in the same business or a new one? And if that visa is rejected I think it can break my 10 years as I only need 13 months now.

HO did not ask for evidence that I maintained access to the 50K until it was invested.

I only need 13 months to complete my 10 years, what do you think the best route should be please?

I don't think they will accept a new investment. Rules are straight forward about that. You need to transfer the funds from you personal to business account.

What date did you apply?

[mohsensari]

In my opinion you need to go for AR and then have proper investment in genuine bussiness. (As your last visa extended per section 3c, still you can invest and I think HO will accept investment in this period.)
There is no any chance to win AR if you applied through director loan but give you time to have proper investment for fresh application.
I think you need to read again the policy guidance.

[asharali110]

Hi,

I applied my visa extension on 5th April 2017 and received a response 5 days ago. Do you think FLRO is the best option to gain 13 months time?

[marcnath]

Thanks for your reply, I actually can invest another 50K into the business but will it have to be in the same business or a new one? And if that visa is rejected I think it can break my 10 years as I only need 13 months now.

HO did not ask for evidence that I maintained access to the 50K until it was invested.

I only need 13 months to complete my 10 years, what do you think the best route should be please?

You can invest in the same business or a new one. But if you are starting a new one, you will definitely face questions about why.

There is no guarantee that the investment will be accepted. The immigration rules require the investment to be made in the period of the last grant and it is not clear if Section 3C is part of that. Though there have been cases mentioned here where additional investment has been accepted.

Your only option is to invest the money and make a fresh application. If you can show evidence of the previous 50K being properly linked to the money shown on application, you should also include that.

If the fresh application is also rejected, you have no means of getting to the 10 year other than hoping against hope to succeed in a long, expensive JR. However, the chances of success in a JR is also very low.

I assume your team member is in the same situation ?

[asharali110]

Hi,

I have been living in the UK for 9 years. I applied for an Entrepreneur Visa extension which was rejected in November 2017 after which we have requested for an administrative review. My question is if the administrative review is refused then will it break my 10 years legal stay in the country?

Hopefully the AR will go though but if it does not then I have been advised to apply FLRO (FP) to get more time to complete my 10 years legal stay. I have been told that if the FLRO (FP) is rejected then it will break my 10 years legal stay even if I apply within 14 days of refusal. Is that right?

Please help.

[CR001]

My question is if the administrative review is refused then will it break my 10 years legal stay in the country?

Yes, because your Section 3C protection will end if AR is refused.

Hopefully the AR will go though but if it does not then I have been advised to apply FLRO (FP) to get more time to complete my 10 years legal stay.

These applications don't take years anymore. If submitted only to 'buy time', they are refused fairly quickly.

I have been told that if the FLRO (FP) is rejected then it will break my 10 years legal stay even if I apply within 14 days of refusal. Is that right?

If you do the FLR(FP) and it is refused, you will still be an overstaying, likely for however long since your last visa expired.