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T1 entrepreneur 3rd party funding questions

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

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pkcd12
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Posts: 13
Joined: Sat Jun 28, 2014 5:03 am

T1 entrepreneur 3rd party funding questions

Post by pkcd12 » Sat Jun 28, 2014 5:23 am

Hello. I am planning to apply for T1 entrepreneur 200k category from outside UK. Funding will come from 1)spouse, 2)spouse's parent, and 3) spouse's uncles and aunts.
Can someone please advise me on the following questions? Thanks in advance.

1. Which is better:
A: Pool the all funds from the various sources into spouse's account first and simply have one 3rd party financier?
OR
B: Have each source be a 3rd party, therefore have three to four financiers?
OR
C: first collect all funds in spouses account; then transfer to my account and show as my money?

2. In any of the above 3 cases, is it important or necessary to show the history of the money? That is, where the money came, over what time period, taxes, etc? For example, if all the money is collected in spouse's account and spouse is the sole 3rd party, do we have to show where and how and why the money came to be in spouse's account?

3. If the money is shown to come from spouse and/or spouse's relatives, does the money have to be a gift or loan or what?

4. Does anybody know any bank outside the UK that can provide the letters in the format required by the home office? It seems most banks cannot do that. Any other solutions for that?

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