PSW to Venture capital

[ali20000]

Hello everyone.
I need your assistance.
I have applied tier 1 entereneur from PSW and refused in march. I have appealed and hearing date is in October.
the chances of success are very low and my solicitor advised me to withdraw and make new application via Venture Capital.
I am confused now as If I withdraw , what will be my status? will it be PSW?
is there any impact on long residency due to withdrawing appeal?
will I count as overstayed?
Also see the following guidelines please.
Apply as a former Tier 1 (Post-study worker)
You can apply if you:
•are applying to change (switch) your visa (‘leave to remain’)
•have or were last granted a visa or leave to enter the UK as a Tier 1 (Post-study worker)
•have registered as a director of a business or as self-employed in the 3 months before you apply
•are working in a job on the list of occupations at the National Qualifications Framework level 4 and above
You must have been involved in running one or more UK businesses (eg you’re listed as a company director) before 11 July 2014 to be eligible to apply with your own funds or funds from a venture capital firm.
Otherwise you can only apply with funding from a UK entrepreneurial seed funding competition endorsed by UK Trade and Investment (UKTI) or a UK government department.
also,
from Guideline states that
48. Funds from more than one of these sources may be combined to total the required £50,000.
However, funds from a venture capital firm cannot be included if you are applying to switch
from Tier 4/other relevant student categories, or Tier 1 (Post-Study Work) (unless you can take
advantage of the Tier 1 (Post-Study Work) Transitional arrangement – 11 July 2014).

Your assistance will be appreciated.

thanks
Ali

[Princess of Ammi]

dear Ali

you can have the most appropriate advice if you mention the points your refusal is based up on in on going case.

you interest towards reapplying using capital venture thing dnt seem more than buying some times because in my experience on one has had a visa using capital venture firms you lawyer who advised you should know and tell you about this.

just saying if you withdraw to re-apply and apply within those 28 days of the withdrawal and you get the visa you will not be considered an over stayer that also means no effective break towards long residency took place remember once you apply and whilst they consider your application you will not have right to work.
in case if you do not get the visa you will not have right of appeal, you would have lost the right to work and live in the UK.

[ali20000]

Thanks for reply.

My reason of refusal is as under.
1. HO verified the bank statement (50k) but at the time of verification the money was already withdrawn by third party.
If I provide another statement than it will be fresh evidence and ho will not accept.
also, the link is missing as I have got refusal in april and from april to august I don't have a statement.
I can produce it now.
therefore I am thinking to withdraw and apply tier2 or venture capital.

[thinkbig4all]

yes you can apply in 28 days after you withdraw your application or appeal.

but remember this time you will be having no right of appeal. you can do this after even you lose appeal...

regards

[Princess of Ammi]

okay ..

when they made inquiry on money availability money was not there regardless of when one made a withdrawal or put the same amount back in account. in apparent situation you should not hope anything out of it because it has zero potential towards winning.

what is your financial situation now.. can you re arrange yourself money required and are you active in providing services?

if answer to above question is yes then prepare yourself for reapplying under the same cat. considering ample time before the hearing you would have provided the services to an extended level that should prove you a genuine entrepreneur. money there I dnt see any curb in getting visa if you have required money and comply with pre-application requirements.

[Momi]

If your business is trading then try to get 50k in your own account and re-apply.