Third Party Funds account type

[paul alfed]

Dear all

I am a new active member but I have been visiting this site for years now.
Thanks to everyone who have been part of this site.

I am applying soon via PSW route and relying on third party funds outside the UK. I will like someone to clarify these questions for me.

1. Must the third party funds be in a savings account?

2. Also my company will be 5 months old at the time of application. Do you advice I register a new company or stick to my old company.


Thanks

[jmoha]

Hi,

Provide a new company and drop for visa with in 3 months of the registration.

If you have team member show funds in joint account or a current account...

Thanks

[ukmigrate.com]

The third party funds do not need to be in a savings account. The main requirements are that the funds are in a regulated financial institution and are freely transferable to the uk. You need some key points to be clearly mentioned on the letter you obtain from the bank where the third party account is held, in addition to the bank statement.