Third party Funding for Entrepreneur Visa

[aagkashola]

Hi, I am going to apply from Pakistan. I have arranged 100k pounds in my bank account. Rest of 100k pound have been arranged in UK from my brother as a third party.

I just need to ask if i can use my brother UK bank account statement of remaining 100k pound.....????

Its urgent please i need help.

[rizwan567]

yes, you can use your brother's bank statement as a third party funding

[Jyde0608]

Hello there, please I need an urgent reply to my question which is, I have 30 k in my Uk account and 20k in my uncle's account in Nigeria and it is regulated bank,would this be ok to show the 50k? Thanks

[smehmood]

Hello there, please I need an urgent reply to my question which is, I have 30 k in my Uk account and 20k in my uncle's account in Nigeria and it is regulated bank,would this be ok to show the 50k? Thanks

Hi

Yes

Regards

[Jyde0608]

Thanks for your reply.

[aagkashola]

Many Thanks for your reply Shoukat.... I just found out on policy guidance
92- FOR MONEY HELD IN THE UK ONLY.
93- ACCOUNTS IN THE NAME OF A BUSINESS OR THIRD PARTY WILL NOT BE ACCEPTED....

This point is bit confusing. Can you please explain this...Many thanks

[rizwan567]

I am bit confused now. All the things and points mentioned in guideline seems to suggest that third party funding from the UK is acceptable. But the point you have quoted seems to suggest that third party funding from UK is not acceptable.

Others please comment on the issue.

[RizKCB]

In this case its OK to show money from two sources. His Uncle's account is in Nigeria NOT in UK so his contribution of 20K would act as third party funding.

If his Uncle is holding an account in UK then he cannot act as third party.

[esic_sonia]

The only option for applicants in the UK is to have an account in their own name ... or go for Venture Capital route (in which company will show access to funds of £50,000)

[sssa]

The only option for applicants in the UK is to have an account in their own name ... or go for Venture Capital route (in which company will show access to funds of £50,000)

The above in red is not correct.

Applicants in the UK can have third party funding.

[esic_sonia]

The only option for applicants in the UK (who wants to show UK bank account as source of funding) is to have an account in their own name ... or go for Venture Capital route (in which company will show access to funds of £50,000)

I meant those who want to show UK bank account as source of funding or sponsor

Even I'm human

[esic_sonia]

Hi, I am going to apply from Pakistan. I have arranged 100k pounds in my bank account. Rest of 100k pound have been arranged in UK from my brother as a third party.

I just need to ask if i can use my brother UK bank account statement of remaining 100k pound.....????

Its urgent please i need help.

Yes. Since you are applying from Pakistan, you can show funds from anywhere in the world (but your family members are also third party, so make sure of that). As long as you are given access to total funds £200,000 in an official affidavit (notary signed)

[sssa]

The only option for applicants in the UK (who wants to show UK bank account as source of funding) is to have an account in their own name ... or go for Venture Capital route (in which company will show access to funds of £50,000)

I meant those who want to show UK bank account as source of funding or sponsor

Even I'm human

I will again say the same that it is not correct.

You can have UK funding in the names of third party (not necessarily on your own name) and are subject to the same rules as for funding outside the UK.

[RizKCB]

If third party is allowed from UK resident and having account in UK bank then what does point 93 states?????
Specially this question is from those who says third party is allowed from UK.
Any reference with respect to policy would be appreciable.

[esic_sonia]

The only option for applicants in the UK (who wants to show UK bank account as source of funding) is to have an account in their own name ... or go for Venture Capital route (in which company will show access to funds of £50,000)

I meant those who want to show UK bank account as source of funding or sponsor

Even I'm human

I will again say the same that it is not correct.

You can have UK funding in the names of third party (not necessarily on your own name) and are subject to the same rules as for funding outside the UK.

Let me explain both options

1. If you are applying from inside UK, your UK bank account (which you are showing for £200,000 or £50,000 funds) must be under your name, single or joint. You can also use 3rd party overseas accounts, but if you are using UK bank account, it has to be under your name. You can use overseas bank account as well as third-party funding, but cannot use third-party funding for UK bank accounts which are not under your name (Read Clause 92 and 93 of T1 Entrepreneur Policy Guidance)

2. If you are applying from outside UK, you can virtually use any bank account in the world (even UK bank account) for third party funding, even if it's owned by a third-party. You must prove (ask bank to provide document) that money is regulated by Government body, money is available in account, money is disposable. Now, one also need affidavit (notary signed) that third-party have allowed access to the designated funds. It can be more than 1 bank accounts, but you must have access to all of the funds. Sample letters are available in policy guidance Annex notes.

[sssa]

The only option for applicants in the UK (who wants to show UK bank account as source of funding) is to have an account in their own name ... or go for Venture Capital route (in which company will show access to funds of £50,000)

I meant those who want to show UK bank account as source of funding or sponsor

Even I'm human

I will again say the same that it is not correct.

You can have UK funding in the names of third party (not necessarily on your own name) and are subject to the same rules as for funding outside the UK.

Let me explain both options

1. If you are applying from inside UK, your UK bank account (which you are showing for £200,000 or £50,000 funds) must be under your name, single or joint. You can also use 3rd party overseas accounts, but if you are using UK bank account, it has to be under your name. You can use overseas bank account as well as third-party funding, but cannot use third-party funding for UK bank accounts which are not under your name (Read Clause 92 and 93 of T1 Entrepreneur Policy Guidance)

2. If you are applying from outside UK, you can virtually use any bank account in the world (even UK bank account) for third party funding, even if it's owned by a third-party. You must prove (ask bank to provide document) that money is regulated by Government body, money is available in account, money is disposable. Now, one also need affidavit (notary signed) that third-party have allowed access to the designated funds. It can be more than 1 bank accounts, but you must have access to all of the funds. Sample letters are available in policy guidance Annex notes.

It does not matter if you are applying from the UK or abroad. What does matter is that the type of evidence which is different if the money is in the UK or abroad.

So it is not correct that third party funding from the UK is not allowed.

Please click on the following thread to get more clarification

http://www.immigrationboards.com/viewtopic.php?t=126297.

[adilzia]

The only option for applicants in the UK (who wants to show UK bank account as source of funding) is to have an account in their own name ... or go for Venture Capital route (in which company will show access to funds of £50,000)

I meant those who want to show UK bank account as source of funding or sponsor

Even I'm human

I will again say the same that it is not correct.

You can have UK funding in the names of third party (not necessarily on your own name) and are subject to the same rules as for funding outside the UK.

Let me explain both options

1. If you are applying from inside UK, your UK bank account (which you are showing for £200,000 or £50,000 funds) must be under your name, single or joint. You can also use 3rd party overseas accounts, but if you are using UK bank account, it has to be under your name. You can use overseas bank account as well as third-party funding, but cannot use third-party funding for UK bank accounts which are not under your name (Read Clause 92 and 93 of T1 Entrepreneur Policy Guidance)

2. If you are applying from outside UK, you can virtually use any bank account in the world (even UK bank account) for third party funding, even if it's owned by a third-party. You must prove (ask bank to provide document) that money is regulated by Government body, money is available in account, money is disposable. Now, one also need affidavit (notary signed) that third-party have allowed access to the designated funds. It can be more than 1 bank accounts, but you must have access to all of the funds. Sample letters are available in policy guidance Annex notes.

eric_sonia


u r absolutely rite.......