T 1 E Visa guidance please

[t2gone]

Hi all hope you can help me unblocking some puzzles in front of me.
I am looking to switch from tier 2 general to tier 1 entrepreneur visa.

• if I can get letter and bank statements from third party showing the funds and letter stating that they will provide me the 200 k money, will that suffice

• if I am looking to invest into an existing business do I need to become as share holder and director?

• can I invest into the same company with whom I am holding a tier 2 general visa?

[zimba]

if I can get letter and bank statements from third party showing the funds and letter stating that they will provide me the 200 k money, will that suffice

No, money needs to be given to you in a UK bank account for min 90 days for you to switch. If you have the money for less than 90 days, you need a thrid party letter. Read the guide

if I am looking to invest into an existing business do I need to become as share holder and director?

Either director loan or buying shares are acceptable. However you must be a director for your investment to be accepted.

can I invest into the same company with whom I am holding a tier 2 general visa?

as long as you hold Tier 2 General you must not own more than 10% of your sponsor’s shares if the sponsor is a limited company.
However after your Tier 1E visa is approved, you cannot remain an employee of that company. You must become a director instead.

[t2gone]

Hi Zimba88, Thanks for your reply, I read the following from guidance
"you have held the money for less than a consecutive 90-day period of time, ending no
earlier than 31 days before the date of application, and you provide the following
specified evidence:
 a bank statement or bank letter to demonstrate funding is available to you at
the time of your application, and
 the additional specified documents for third party funding"

Does the above means that the Third party needs to send the money to my account before I make application? or if he held the money his account and a document/statement from him will be enough?

if I can get letter and bank statements from third party showing the funds and letter stating that they will provide me the 200 k money, will that suffice

No, money needs to be given to you in a UK bank account for min 90 days for you to switch. If you have the money for less than 90 days, you need a thrid party letter. Read the guide

[zimba]

Does the above means that the Third party needs to send the money to my account before I make application? or if he held the money his account and a document/statement from him will be enough?

Better for you to have the money however rules allow money to be made available to you by a third party. In any case, if you keep the money for less than 90 days you must provide the 3rd party declaration

If the funds to which you have access are being made available to you by a third party, t he declaration from that third party must confirm that the funds will remain available to you until they are transferred to you or to your business.