applying in 200k cat..outside UK

suny2013 · Post by **suny2013** » Wed Mar 20, 2013 7:50 pm

hey guys..

i am looking to apply for entrepreneur visa from outside UK and have almost got hold of 200k.. however, i am little confused as to where i have to show my funds? can i show 200k in my business account? or have to show in my savings ( personal ) account.. because if its personal account then its a little problem in terms of tax etc in my country..

also £3100 i have to show as maintenance funds for my self..i have 2 dependants . my wife and 2 years old daughter.. so how much i have to show as maintenance funds for last 90 days with dependants?

Post by **Lucapooka** » Wed Mar 20, 2013 7:56 pm

If the money is in a business account you will need all of the relevant permissions from the business owners/directors. If you are the sole director you will need a paper-trail of evidence to support that. It would, in effect be like having third party funding from your own business. Is the money a current cash asset and would it be liable to tax if it were removed? All of this has to be resolved and it's not easy without professional assistance.

The maintenance requirement is clearly indicated in the guidance and that would have to be in a personal account.

suny2013 · Post by **suny2013** » Wed Mar 20, 2013 8:02 pm

hi thanks for such a speedy reply..

yes i am the sole proprietor of the business.. so i can get all the verifications etc from my accountant. but if showing 200k in my personal account makes the job simple and easier then i would rather do that,,what do you suggest..

In terms of maintenance funds, ofcourse i am aware that they have to be in personal account but what i was asking is how much i have show with 2 dependants in addition to £3100 for last 90 days??

Thanks..

Lucapooka wrote:If the money is in a business account you will need all of the relevant permissions from the business owners/directors. If you are the sole director than you will need a paper-trail of evidence to support that. It would, in effect be like having third party funding from your own business. Is the money a current cash asset and would it be liable to tax if it were removed? All of this has to be resolved and it's so easy without professional assistance.

The maintenance requirement is clearly indicated in the guidance and that would have to be in a personal account.

Post by **Lucapooka** » Wed Mar 20, 2013 8:06 pm

Personal account beats everything else hands down. In addition to your 3100 your dependants will need 1800 each.

suny2013 · Post by **suny2013** » Wed Mar 20, 2013 8:08 pm

thanks..

and what about maintenance funds with 2 dependants?
sorry to be a pain..

Lucapooka wrote:Personal account beats everything else hands down.

Post by **Lucapooka** » Wed Mar 20, 2013 8:10 pm

I edited my previous post, but please read the guidance as nothing said here can replace or substitute that.

suny2013 · Post by **suny2013** » Wed Mar 20, 2013 8:12 pm

sure..thanks alot..

Lucapooka wrote:I edited my previous post, but please read the guidance as nothing said here can replace or substitute that.

suny2013 · Post by **suny2013** » Thu Mar 21, 2013 9:06 pm

do i need to fill up vaf9 and appx3 form for my 2 year old daughter as well??

Post by **Lucapooka** » Thu Mar 21, 2013 9:26 pm

Each of your dependants needs to fill out a separate form. There are no joint applications.

suny2013 · Post by **suny2013** » Thu Mar 21, 2013 9:43 pm

Thanks..I get it..but in appendix form what should I fill for my wife nd daughter for 200k access, bank letters , points and other details related to investment..

Lucapooka wrote:Each of your dependants needs to fill out a separate form. There are no joint applications.

Post by **Lucapooka** » Thu Mar 21, 2013 10:22 pm

The requirements for the main applicant (you) are completely different for dependants. Try reading the forms and guidance for each category; there really is no need to make guesses.

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applying in 200k cat..outside UK

applying in 200k cat..outside UK

do i need to fill up vaf9 and appx3 form for my 2 year old..