Tier-1 Enterprenaur Team- Urgent

JaiHanuman · Post by **JaiHanuman** » Mon Oct 15, 2012 11:52 am

Hello,

Can anyone answer to my question please.

Me and my friend are planning to apply for Ent visa as a team.

1. If we show the money outside in other country, how Venture capital firm work in terms of funds?

say if we have funds in India, is only FSA letter from the bank is not enough?

Canyou please advise on this?

Your reply much Appreciated.
Many Thanks,

Post by **Lucapooka** » Mon Oct 15, 2012 12:02 pm

Do you have access to funds from a venture capital firms regulated by the Financial Services Authority? This is perhaps unlikely.

I think you may be asking where the money can be held and what evidence of this is required.

Read paras 97 et al of the policy guidance.

JaiHanuman · Post by **JaiHanuman** » Mon Oct 15, 2012 1:00 pm

Thanks for the reply..

Under para97 its says one or more documents..
If I get or show my funds in India.. Would a letter from the financial institution is OK? Or do we need to registered with venture capital firm as wel?
As far as I know venture capital firm is one who invests in our business.. If me and my friend are arranging our own funds from our place the letter from the registered financial would be required document for applicants?

Thanking you,

Post by **Lucapooka** » Mon Oct 15, 2012 1:05 pm

JaiHanuman wrote:Under para97 its says one or more documents..

Yes, but only money in the UK can be supported by a bank statement; so that leaves just the letter in your case. Para 99 tells you what is required in a letter from your FI.

nickb · Post by **nickb** » Mon Oct 15, 2012 1:05 pm

JaiHanuman wrote:Thanks for the reply..

Under para97 its says one or more documents..
If I get or show my funds in India.. Would a letter from the financial institution is OK? Or do we need to registered with venture capital firm as wel?
As far as I know venture capital firm is one who invests in our business.. If me and my friend are arranging our own funds from our place the letter from the registered financial would be required document for applicants?

Thanking you,

If you are not getting money from a venture capital then that section is irrelevant to you. You need a letter from the financial institution holding your funds and it has to have all the details as mentioned in the policy guidance.

JaiHanuman · Post by **JaiHanuman** » Mon Oct 15, 2012 1:23 pm

Oh that's excellent..
Thanks for your time.

Jaihanuman.

JaiHanuman · Post by **JaiHanuman** » Tue Oct 16, 2012 9:53 am

Hello,
Can you please able to tell me
If I am arranging the half funds from place A and my friend arranging the half funds from place B, and if the respective financial institutions gives only their respective names on the FI letter, is it ok to do them in this way?

Thanking you,

JaiHanuman · Post by **JaiHanuman** » Tue Oct 16, 2012 2:43 pm

To make question more clear:

In the team:

if member-X arranges funds from place A with Letter and details on them are Mr X's name only

if member-Y arranges funds from place B with Letter and details on them are Mr Y's name only

total funds being X(£25K)+Y(£25K) money=£50K.

will the funds arranged in this way meet the requirement?

Please can anyone answer to my query?

Thanking you,

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Tier-1 Enterprenaur Team- Urgent

Tier-1 Enterprenaur Team- Urgent