Switch From Tier 2 General to Tier 1 Entrepreneur

[rikmonsta]

Hi,
My cousin would like to switch from tier 2 general visa to tier 1 entrepreneur visa. I have 2 questions please:

1. The 200K investment should be held in UK bank account or it can be held in his bank account in India?

2. Does the funds for investment need to be in the account for 90 days as well?

regards
Rik

[jonser]

Since your cousin is in the UK, the money has to be in the UK and not in his personal bank account in India.

Also, the money needs to sit for 90 days or he would have to declare it as Third party funding and provide evidence to support this i.e.
1) A letter from the owner of the funds certifying that the funds are available to him and his business and will continue to be available to him and his business after the visa is issued
2) A letter from a legal adviser certifying that the declaration letter is true.

Hope this helps...