Joint business account with UK national

[profusion]

Hello

I am applying to switch to Tier 1 (Entrepreneur) from Tier 1 (Graduate Entrepreneur).

The funds are held in the company's business account, and have been for more than 90 days, sourced from angel investors. I am a director of the company and a signatory of the company business account and so is my business partner, who is a UK national. I am not applying as an entrepreneurial team since I am the only one who needs a visa.

Is it permissible to have joint control of the company business account with a UK national? Is there a requirement for my UK business partner to produce any form of legal documentation regarding control of the funds?

Also, the current balance of the account is above £50k, which is the requirement for people switching from Tier 1 (Graduate Entrepreneur). We have already invested some cash into the business. Is there any need to show proof of investment (e.g. unaudited accounts) when the current balance sufficiently fulfils the £50k requirement?

Thanks!

[zimba]

Is it permissible to have joint control of the company business account with a UK national? Is there a requirement for my UK business partner to produce any form of legal documentation regarding control of the funds?

No but on the form under section 5, your business partner must fill and sign to give consent to HO for verification checks.

Also, the current balance of the account is above £50k, which is the requirement for people switching from Tier 1 (Graduate Entrepreneur). We have already invested some cash into the business. Is there any need to show proof of investment (e.g. unaudited accounts) when the current balance sufficiently fulfils the £50k requirement?

Yes. In order to claim investment, you must send company accounts, business bank statements, ect.
Read the Tier 1E official guide