Required funds available in uk

[help_please]

Please answer the question

I had submitted my oversees bank statement with my application

Now some of our client from old business back in country willing or we told them to give the amount in uk

Like if they will give me amount here and I will be coving my required funds from uk not getting single penny fom oversees account

Will it will count as I brought money in uk


Please answer me so I can take my decision whether to take money here no let them transfer from aboard to my account

But they will transfer from aboard I will loose good money in transfer rate

As a business man single penny worth for us

Thx. Xx

[my_friend]

Please answer the question

I had submitted my oversees bank statement with my application

Now some of our client from old business back in country willing or we told them to give the amount in uk

Like if they will give me amount here and I will be coving my required funds from uk not getting single penny fom oversees account

Will it will count as I brought money in uk


Please answer me so I can take my decision whether to take money here no let them transfer from aboard to my account

But they will transfer from aboard I will loose good money in transfer rate

As a business man single penny worth for us

Thx. Xx

have u already submitted your application with your oversees bank account...are u saying that you are asking your client to pay u in your uk bank account and use that money for availability of funds?...how much is your client paying you?...i am sorry i did not understand your question...

how will your client pay you...if you have your money here in UK in your personal bank account then its more beneficial for your application...

[help_please]

Thanks for your reply

Actually I got visa my concern is to bring money to uk which is 50k

My question is that necessary to transfer funds from aboard or we can deposit or transfer amount within uk aswel

We got business back home aswel and we got international clients. Some of them are here in uk who buys our goods and we can tell them to pay us here in my uk account which I will show as investment

If u got an idea please share

[rsrameshsunil]

Thanks for your reply

Actually I got visa my concern is to bring money to uk which is 50k

My question is that necessary to transfer funds from aboard or we can deposit or transfer amount within uk aswel

We got business back home aswel and we got international clients. Some of them are here in uk who buys our goods and we can tell them to pay us here in my uk account which I will show as investment

If u got an idea please share

As per the rules, at the time of extension, you have to prove that you have invested all the 50k in your business(s). You should prove that the money has gone from your personal account to business(s) account and then fully spent on business(s) expenditure. Your accountant must confirm the same.

There is no "direct" rule that the same amount that was shown during initial application must be transferred to UK and used for this purpose.

However, there is an indirect rule, since Jan 31st, they have implemented a few conditions which asks you to have continous access to funds until it is invested in business. This is one of the conditions of stay.

Even the above rule doesn't say about maintaining the funds. It only speaks about continous access. Which means you just need access to funds at all times no matter where it is.

Therefore, I would say to be on a safe side, invest the same funds that you used to obtain the visa. You never know, in the future, they might add a clear rule in the future regarding this requirement. And by that time it will be too late for you.

[rehan01]

Totally agree with rsrameshsunil

Also wont be surprise if ukba start contacting people after 6 months asking for business activity or access to funds etc than again it will be too late as many of us are too busy to get the visa and not thinking what next especially for those who r not running he business they should be.

Regards

Thanks for your reply

Actually I got visa my concern is to bring money to uk which is 50k

My question is that necessary to transfer funds from aboard or we can deposit or transfer amount within uk aswel

We got business back home aswel and we got international clients. Some of them are here in uk who buys our goods and we can tell them to pay us here in my uk account which I will show as investment

If u got an idea please share

As per the rules, at the time of extension, you have to prove that you have invested all the 50k in your business(s). You should prove that the money has gone from your personal account to business(s) account and then fully spent on business(s) expenditure. Your accountant must confirm the same.

There is no "direct" rule that the same amount that was shown during initial application must be transferred to UK and used for this purpose.

However, there is an indirect rule, since Jan 31st, they have implemented a few conditions which asks you to have continous access to funds until it is invested in business. This is one of the conditions of stay.

Even the above rule doesn't say about maintaining the funds. It only speaks about continous access. Which means you just need access to funds at all times no matter where it is.

Therefore, I would say to be on a safe side, invest the same funds that you used to obtain the visa. You never know, in the future, they might add a clear rule in the future regarding this requirement. And by that time it will be too late for you.