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This simply depend on your documents.Is the money available to your business rather than to you by name?
Yes - You must provide a Companies House document showing the address of the registered office in the UK, or head office if there is no registered office in the UK and your name, as it appears on the application form, as a director. You must be a director for the business at the time the money is, or was, made available.
The part that you quoted is as follows;Showing funding in Business Account is generally not acceptable by HO
(Read Policy Guidance's Point # 108 on Page 21 of 56)
This part of the policy guidance is very confusing and should not be interpreted simply as stated.108. The total amount of available money must be either at least £200,000; or at least £50,000, as applicable. If the money is held in several financial institutions, you must supply a statement from each institution.
• The statements must be original documents and not a copy.
• The bank or building society holding the money must be based in the UK and regulated by the FCA/PRA;
• The money must be in cash in the account. We will not accept Individual Savings Accounts (ISAs) or assets such as stocks and shares;
• The account must be in your own name only (or both names for an entrepreneurial team) only. You may use your money that is held in a joint account with your husband, wife, civil partner or unmarried or same-sex partner, but only if they are not applying to be a Tier 1 (Entrepreneur) migrant. Accounts in the name of a business or third party will not be accepted;
• Each bank or building society statement must be on the institution’s official stationery and confirm each of the following details:
o Your name, the name of your team member if you have formed an entrepreneurial team or the name of your business;
o The account number;
o The date of the statement;
o The financial institution’s name and logo;
• The bank or building society statement must have been issued by an authorised official of that institution.
I just want to ask if i got my maintenance is same account as my 50 k account so atm i got 52k is that ok?BlackBirdSSG wrote:You're welcome
NoOzzi wrote:I just want to ask if i got my maintenance is same account as my 50 k account so atm i got 52k is that ok?BlackBirdSSG wrote:You're welcome
Thanks but my visa is expiring on end of july if i move my 50k in different account as i know there is no time limit but if i show last 3 months maintenance it will be 52k for one month then rest it will be £1000 pound will be right?BlackBirdSSG wrote:NoOzzi wrote:I just want to ask if i got my maintenance is same account as my 50 k account so atm i got 52k is that ok?BlackBirdSSG wrote:You're welcome
Kindly read Point # 63 (Page 13 of 56) in Tier 1 Entrepreneur Policy Guidance [6th April 2014 Edition]
Better move £50K in new current or savings account & get statement. £50K bank statement have no time limit.
The above statement mean that you cannot have 50k for investment in your account and then rely on part of the 50k as your maintenance funds. But if the money is more than 50k and the extra covers your maintenance funds, then you should be fine.63. You may not use the same funds to score points for your funds available for investment and for maintenance funds for yourself and any dependants.
Olasunkanmi wrote:@ Ozzi, you can use the account with 52k for both investment funds and maintenance funds as long as the total fund in the account is equal or more than the total for both maintenance and investment funds.
The above statement mean that you cannot have 50k for investment in your account and then rely on part of the 50k as your maintenance funds. But if the money is more than 50k and the extra covers your maintenance funds, then you should be fine.63. You may not use the same funds to score points for your funds available for investment and for maintenance funds for yourself and any dependants.