3rd party funding using a business partner ?

[chenmor]

Hi everyone, brilliant forum and super helpful.

I'm just about to apply to the Tier 1 Entrepreneur VISA and my situation is very simple.

I and a UK business partner are acquiring a UK based company.

He will be the finance director (he's an accountant by training) and
I will be the managing director.

He has 200K in his client account that are ready for investment into the company.

My questions are:

Can he be the 3rd party investor WHILE also being one of the acquiring parties of the company?

How critical is it to use a solicitor to carry out the application process for me?
The cost of 2K+ is not very attractive and the process seems simple enough to be carried out by myself

Thanks for the help people! Much appreciated.

- Chen

[CR001]

He has 200K in his client account

If money is in a client account, it is not his or your money. It is clients' money. As an accountant, he would know that very well.

[chenmor]

He has 200K in his client account

If money is in a client account, it is not his or your money. It is clients' money. As an accountant, he would know that very well.

How about if the money will be held in a designated client account under my name?

[marcnath]

He has 200K in his client account

If money is in a client account, it is not his or your money. It is clients' money. As an accountant, he would know that very well.

How about if the money will be held in a designated client account under my name?

You seem to have a misunderstanding of the route. You are supposed to invest your own money or have the money invested ON YOUR BEHALF. I can't see how you could legally do that with a clients money, irrespective of which account it is held in.

[Frontier Mole]

If you are using clients money to give the impression that it is yours and available for investment then that is misrepresentation and essentially is fraud.