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Funds in UK

Only for UK Tier 1 (Entrepreneur) points system. This route is now closed to new applicants.

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bluebird2011
Junior Member
Posts: 76
Joined: Fri Aug 12, 2011 1:49 pm

Funds in UK

Post by bluebird2011 » Wed Aug 15, 2012 12:44 pm

All

I am applying under 50,000 category. I have my funds in Barclays UK bank account.

Is my bank statement sufficient to claim all 75 points.

OR

Do I also need to attach a letter from the bank stating that funds are available to me and that bank is regulated by FSA. Do I really need this letter?

Regards

Lucapooka
Respected Guru
Posts: 7616
Joined: Sun Aug 14, 2011 10:30 am
Location: Brasil

Post by Lucapooka » Wed Aug 15, 2012 12:49 pm

A bank statement alone is sufficient.

crazy_ram
Member
Posts: 130
Joined: Mon Jul 16, 2012 11:52 am
United Kingdom

Re: Funds in UK

Post by crazy_ram » Wed Aug 15, 2012 12:59 pm

Hi,
A bank statement must be sufficient.
But, If your are using third party funding better to take a letter from the banker to avoid hassle from a hole finder case worker.

ukvisasguidance
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Joined: Thu Aug 16, 2012 1:25 pm
Location: UK
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Post by ukvisasguidance » Thu Aug 16, 2012 1:29 pm

Bank letter with your name same as in the passport and other documents will do

bluebird2011
Junior Member
Posts: 76
Joined: Fri Aug 12, 2011 1:49 pm

Post by bluebird2011 » Thu Aug 16, 2012 2:30 pm

What if we are entrepreneurial team and we have a joint account with both names of entrepreneurial team appearing on the statement.

Is the bank statement still sufficient or do we need a letter from the bank that funds are available to both team members.

Regards

Lucapooka
Respected Guru
Posts: 7616
Joined: Sun Aug 14, 2011 10:30 am
Location: Brasil

Post by Lucapooka » Thu Aug 16, 2012 2:38 pm

That's fine; it fits the requirements perfectly. Please do read the guidance. You only need one document from the following.
98.You must provide one or more of the following documents
• A letter from a financial institution;
For money held in the UK only, an account statement;
• For money from a Venture capital firm, seed funding competition or UK Government Department only, a letter from an authorised accountant.
[...]
100. For money held in the UK only, a recent personal bank or building society statement from the UK financial institution holding the funds, which confirms the amount of money available to you or your entrepreneurial team.
[...]
• The account must be in your own name only (or both names for an entrepreneurial team)
So a statement alone (as the money is in the UK) is fine and you don't need a letter from the bank.

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