Mantainance funds in self employed business account

[kimourina]

Hi,

Need some advice for my friend.He has been maintaining his funds (for himself and dependant) in his self-employed business account(that has his name t/a his company name) for his tier-I extension.

Can someone please advice if this mode of maintenance funds are allowed or should be maintained only in personal accounts.could not find any mention on this in guidance...''

Your help will be much appreciated.

Thanks,
Kim

[Manka10]

Only requirement is maintenance funds should be liquid cash maintained in some bank account even if notice has to be given to withdraw that money so business, personal or savings account doesnt matter

[kimourina]

Hello

Thanks for your immediate reply..our confusion was around the statement "Therefore you must show that you have £800 available in personal savings."

mentioned in http://www.ukba.homeoffice.gov.uk/visas ... intenance/

Does that not mean the money should be in personal account and i suspect if business account will fall into that category ..

[kolaxy]

I used my foreign business account as maintenance fund for me and my dependant and our Tier 1 General visas got approved last year. So, you dont have any problem. Just make sure you have more than enough money in your account.

[tearOne]

Hi,

Need some advice for my friend.He has been maintaining his funds (for himself and dependant) in his self-employed business account(that has his name t/a his company name) for his tier-I extension.

Can someone please advice if this mode of maintenance funds are allowed or should be maintained only in personal accounts.could not find any mention on this in guidance...''

Your help will be much appreciated.

Thanks,
Kim

Hi,

I am also applying soon for Tier 1 Extension. I did the same like your friend. In guidance note, it is mentioned to show personal account statement to prove 90 days period for maintaining funds. I have asked home office few days ago. HO support personal advised to attached a letter from the accountant about maintaining funds in business account.

Regards,

Azam

[tearOne]

I used my foreign business account as maintenance fund for me and my dependant and our Tier 1 General visas got approved last year. So, you dont have any problem. Just make sure you have more than enough money in your account.

hi Kolaxy,

I have seen your previous post regarding your VISA extension with the forieng bank accounts. But you did not mention anywhere that those forigen bank account was a BUSINESS account instead of PERSONAL account. Please clearify as this would be a great help for us.


Regards,


Azam