Does the GBP50,000 have to be held....

[whiteroses]

till the time the visa has been approved?
This question is primarily regarding funds held abroad.
There is no mention of the time limit in the guidance, but I been told by people that the funds must be held till the visa is approved, or else the UKBA will reject the application should they verify the account balance with the bank.
Can anyone please offer some advice?

[Lucapooka]

If the UKBA try to verify the funds, and the funds don't exist in the location defined in the application, the application will be refused. It's not certain to what extent and in what circumstances the UKBA may wish to verify the source. Good quality and reliable paperwork provided in certain locations of the world may negate the need for the UKBA to make checks. Bad quality and unreliable paperwork from countries where immigration fraud is very common, may demand that the UKBA check each and every source. Good luck!

[la]

Lucapooka,

Thanks for advice.

I did not see any information in UK BA policy guidance about holding the 50k funds in India Bank till application is with UK BA.For security reasons,we can not hold 50k funds in bank till application is with UK BA as we do not know how long UK BA is going to take to process visa application.

Obviously once UK BA issue the visa, we can get the 50k funds on need basis to UK and invest funds over the span of three years.

Could you please give me the URL of policy guidance where UK BA mentioned about verifying the funds on the verification date than on bank letter issued date and refuse the visa if funds are not available.

Could you please share visa refusals details based on information you said. With out proof kindly please do not mislead us.

[kashnex]

till the time the visa has been approved?
This question is primarily regarding funds held abroad.
There is no mention of the time limit in the guidance, but I been told by people that the funds must be held till the visa is approved, or else the UKBA will reject the application should they verify the account balance with the bank.
Can anyone please offer some advice?

If we keep on asking such a lame question every time, even tho this question has been asked number of times.... U K B A may think of considering these options, so please put some efforts in and find those threads and stop repeating this question time and time again..... accept my apology if my answer hurt some one's feelings
Best Regards

[dd156]

On the date of application, yes. The guidance doesn't say that funds must be present till you get the visa.

[Lucapooka]

But between the date of application and the date of the visa being granted, the UKBA are perfectly entitled to verify that the funds are actually in the account that was cited in the application. If you want take the risk that is entirely your choice. If your applying in or originate from the subcontinent and the funds are in the subcontinent, I would say that the chance of the UKBA seeking verification are 100%.

[rizwan567]

Luca is 100% right. Funds needs to be in account as at the time of verification UKBA asks for the current balance from the bank and if current balance is not as claimed in application then logically it can lead to refusal coz funds were to be invested in UK.

For those claiming funds can not be retained in the account for long enough then logically speaking if investor has withdrawn the funds then he is not in position to send those funds to you in the UK.

But this is 100 percent sure that at the time of verification (at least in Paksitan) current bank balance is also asked.

[la]

Hi Rizwan567,

Thanks for detail information which is not even said by UKBA in policy guidance.

By the way, could you please provide proofs of refusals based on information given by you.

How come some other immigration consultants clients (information mentioned in other threads) are getting the visas even after maintaining funds for less than week ?


It is my own money. What is the point of holding money till five to six months to invest the money over three years after getting the visa.

Please justify. Please reply at the earliest.

[pennylessinindia]

Lucapooka,

For security reasons,we can not hold 50k funds in bank till application is with UK BA as we do not know how long UK BA is going to take to process visa application.

.

What sort of security reasons?

[la]

Hi pennylessinindia,

Security reason could be any thing. It is my own money. What is the point of holding money till five to six months to invest the money over three years after getting the visa.

Please justify?

[smehmood]

Hi

If you can keep funds for 6 months or until approval its fine.

I have about 20 successful cases where people withdraw their funds aprox 15 days after applying.

1. Its clearly mention in Guideline that if funds are held in overseas UKBA will assess the conversion rate on the date you posted your application.

2. When you submit a letter or bank statement it shows that funds are available on or until sudden date. means if you apply your visa on 10th Jan and bank statement or letter shows funds are available on 5th Jan then how come UKBA can make objection after 4 months April, when doing verification. because you never claimed that funds were available in April however u claimed funds were available on 5th Jan.

Regards

[smehmood]

Luca is 100% right. Funds needs to be in account as at the time of verification UKBA asks for the current balance from the bank and if current balance is not as claimed in application then logically it can lead to refusal coz funds were to be invested in UK.

For those claiming funds can not be retained in the account for long enough then logically speaking if investor has withdrawn the funds then he is not in position to send those funds to you in the UK.

But this is 100 percent sure that at the time of verification (at least in Paksitan) current bank balance is also asked.

Hi

Why specially in pakistan. give me your email i will send a sample of verification form which is being use in pakistan.

Regards

Shaukat Mehmood

[Lucapooka]

I don't understand what is being asked here. We already said that taking the money out of the account after the application is submitted, while you wait for an approval, is at your own risk, but there is no limit on how long the money has to be in the account before the application is submitted; that could less than day if you were able to get relevant statements and letters from the FI.

[rizwan567]

Hi Rizwan567,

Thanks for detail information which is not even said by UKBA in policy guidance.

By the way, could you please provide proofs of refusals based on information given by you.

How come some other immigration consultants clients (information mentioned in other threads) are getting the visas even after maintaining funds for less than week ?


It is my own money. What is the point of holding money till five to six months to invest the money over three years after getting the visa.

Please justify. Please reply at the earliest.

Money is to be invested in the UK within 6 months after getting the visa. Not in 3 years.

As luca said, answer is not clear. You can withdraw funds at your own risk. Only time will tell as people start getting replies from UKBA. That whose interpretation is right. WAIT and WATCH and could moderators make this thread sticky as this question is being asked time and time again.

[la]

Hi f8a2c530,

Thanks for info. Please share the proof of UK BA link for the your information.

proof for my information is here below.

http://www.ukba.homeoffice.gov.uk/sitec ... dance1.pdf - Page number 12.

You have invested, or had invested on your behalf, not less than £200,000 (or
£50,000 if, in your last grant of leave, you were awarded points for funds of £50,000)
directly into one or more businesses in the UK



Please do not mislead us with out UKBA guidance proofs.

[rizwan567]

Need not to be arrogant/agressive or rude.. we have gone thru this guideline many a times and know what you are talking about and where you are coming from. Try to understand the meaning of 'Answer is not clear, wait and wait and let the results come of the applicant who have applied and we will have the answer'.

Apart from Smehmood, nobody has claimed that application is approved while funds were withdrawn from the bank account in any developing country. As the other results will come it will be clear.

[la]

Hi Rizwan567,

Sorry about it - I did not mean it. Thanks for detail info

I do not understand on what basis you mentioned below line

Money is to be invested in the UK within 6 months -

Can you please share proof of UK BA link for this. If you do not know please do not apply your own assumption and share the info otherwise this misleads to many applicants here.

Apart from Snehmood client, there are some more applicants who got the visas under similar circumstances. Please go through previous history of threads and discussions. And even there is one person who applied in India and explained how funds verification has done for him in developing country.

[rehan01]

Hi All,

UKBA will verify the documents you have sent them eg if the Bank Statement Dated 10 January 2013 they will verify balance upto that date that is what my understanding is from the policy guidance but if you can than keep the money in Account if cant than be ready to face the question raise by ukba for xyz reason ..... Also,

Common sense what if you want to invest in your business ? (are you going to wait for your visa to come through before investing????? where on other side you have already given 1 contract with your visa application showing activity of trading of your business)

Answer is clear and I agree with la that we can withdraw money.

kind regards

Rehan

[Lucapooka]

I agree with la that we can withdraw money.

But we all agree to that! Of course you can withdraw it at any time. This discussion is with regard to doing this before the UKBA have approved the visa. There is an element of risk to this.

[rehan01]

If the UKBA try to verify the funds, and the funds don't exist in the location defined in the application, the application will be refused.

Yes we all know that .......that is why I put in simple words according to policy guidance to make it even clear

[rehan01]

I agree with la that we can withdraw money.

But we all agree to that! Of course you can withdraw it at any time. This discussion is with regard to doing this before the UKBA have approved the visa. There is an element of risk to this.

No risk as per my understanding as they will verify the balance on the bank statement you have submitted upto the date mention on bank statement.

[alex87]

Did anyone on here actually apply with funds held abroad and know what questions the UKBA asks during the verification process?
Also, is the verification done via phone or email?

[alex87]

Luca is 100% right. Funds needs to be in account as at the time of verification UKBA asks for the current balance from the bank and if current balance is not as claimed in application then logically it can lead to refusal coz funds were to be invested in UK.

For those claiming funds can not be retained in the account for long enough then logically speaking if investor has withdrawn the funds then he is not in position to send those funds to you in the UK.

But this is 100 percent sure that at the time of verification (at least in Paksitan) current bank balance is also asked.

Are you speaking from personal experience?
If it's an active business, you are likely to use some of the funds for business.
And as far as I'm aware, the funds have to be invested over 3 years, many threads have discussed this.

[rehan01]

For those claiming funds can not be retained in the account for long enough then logically speaking if investor has withdrawn the funds then he is not in position to send those funds to you in the UK.

Investor has given declaration that funds are available and given his bank statement and investor can not just hold the funds for someone just for that person to his visa that is why declaration is given.

if person get visa and investor DO NOT give funds for xyz reason so the person will not be able to prove investment at the end of 3 years to get the extension and that is why I think there is a restriction on this visa that a person also cannot do any other job apart from the business he got the visa for or taken over.

regards

Rehan

[iqbal7]

Hi Dear,
As per my understanding its not necessary to hold the money into the account till your verification time. What they verify according to the given statement, if in the statement shows you have money in your account on the 1st December its means they will just verify that not about 1st Jan. secondly, its not mention anywhere in the policy that you have to hold the money until decision. They are not stupid to ask a business person to hold 200k GBP for minimum 3 months to 6 months. Which may cause big loss in his running business. Finally, requirement is to show the access the funds not to hold.
Even about your maintenance statement or for tier 4 they ask to hold money for 90 days and 28 days accordingly, not until they decide what they gonna do.

Thanks

till the time the visa has been approved?
This question is primarily regarding funds held abroad.
There is no mention of the time limit in the guidance, but I been told by people that the funds must be held till the visa is approved, or else the UKBA will reject the application should they verify the account balance with the bank.
Can anyone please offer some advice?