Starting up my application

[Sonye]

Hello, I am getting things together to start up an application for an entrepreneur visa. I have a few questions.

1. Can I provide a bank statement that shows part of the funds from abroad?
2. I have a partner. Do we have to show 25000 each per bank statement? Or can we have whatever amount on any bank statement that will sum up to £50000?

Please help me with answers to help me start my process.

Tank you

[Lucapooka]

Bank statements from non-UK banks are not accepted. The funds can be divided between two team members in whatever amounts.

[top]

Dear Sir/madam

when you ask a question please use the right words as one of member above had to answer your question that the abroad produced bank statements are not acceptable you may have found it confusing and meant bank letter instead of statement please use right terminology to get a right answer..

thanks..

[Sonye]

Dear Sir/madam

when you ask a question please use the right words as one of member above had to answer your question that the abroad produced bank statements are not acceptable you may have found it confusing and meant bank letter instead of statement please use right terminology to get a right answer..

thanks..

Thanks for your response. My partner and I hold a joint account abroad where we have £40,000. We are going to provide the balance of £10,000 in a bank in the uk. I thought it was ok to provide evidence of funds from an account abroad with a cover letter to confirm that funds are disposable in the uk. Is this no longer the case?

[KickAss]

Do we have to show 25000 each per bank statement? Or can we have whatever amount on any bank statement that will sum up to £50000?

As far as I remember, you need to have money in joint account and both of you should have access to that money.

I dont remember any case where applicants applying as a team can submit statements from different personal bank accounts

[Sonye]

Thanks a lot. I just wanted to confirm if we can show evidence of funds from abroad

[wazobia]

Thanks a lot. I just wanted to confirm if we can show evidence of funds from abroad

I believe the bank just has to be on the list of approved institutions.

Read the tier 1 entrepreneur guidance form, available on the UKBA website. Focus on Paragraph 93 to 95.

[Sonye]

Thanks a lot for your response. will check it out now.

I have another question. As i am applying as part of a team, will i need to provide contract letters that will state both our names? can i provide a contract letter that states my name and my partner provides another that states her name only, but under the business name?

[Olasunkanmi]

Hello, I am getting things together to start up an application for an entrepreneur visa. I have a few questions.

1. Can I provide a bank statement that shows part of the funds from abroad?
2. I have a partner. Do we have to show 25000 each per bank statement? Or can we have whatever amount on any bank statement that will sum up to £50000?

Please help me with answers to help me start my process.

Tank you

@ Sonye, you can use evidence of funds from more than one financial institution either in UK or from abroad and you can even combine both as long as HO can make satisfactory verification checks from all the banks.
But to avoid delay in HO bank checks you can use evidence of funds in a single bank account and preferably UK bank.
Home Office also do not require you to show how much each member of entrepreneur team contribute as long as the full funds is shown as available funds to both team members.

Appendix 94 of the policy guidance state;
94. You must provide one or more of the following documents:
• a letter from a financial institution;
• for money held in the UK only, an account statement;
• for money from a Venture capital firm, seed funding competition or UK
Government Department or Devolved Government Department, a letter from an
authorised accountant.
We will not accept evidence of your money from a financial institution with which the Home Office
is unable to make satisfactory verification checks. A list of financial institutions which do not
satisfactorily verify financial statements can be found on our website at: at: www.ukba.homeoffice.
gov.uk/sitecontent/documents/studying/financial-institutions/ and in Appendix P of the Immigration
Rules.

Evidence that money can be in several banks

Appendix 95 of the policy guidance state;
95. A letter from a financial institution holding the funds, to confirm the amount of money available
to you (or your team if you have formed an entrepreneurial team).
The total amount of available money must be either at least £200,000; or at least £50,000
as applicable. If the money is held in several financial institutions, you must supply a recent
letter from each institution. If the money is not held in pounds sterling, we will use the rate of
conversion on the Oanda website at www.oanda.com to convert the money into pounds sterling,
using the exchange rate that applies on the date of the application.

[Olasunkanmi]

Thanks a lot for your response. will check it out now.

I have another question. As i am applying as part of a team, will i need to provide contract letters that will state both our names? can i provide a contract letter that states my name and my partner provides another that states her name only, but under the business name?

You need to submit a contract letter in the name of your business and both team members should be signatory on the contract letter. You don't need to submit separate contract letter as that will not confirm both of you being entrepreneurial team.

Both directors (team members) will prove that they are active in the company if they submit contract together rather than separately.

[wazobia]

Thanks a lot for your response. will check it out now.

I have another question. As i am applying as part of a team, will i need to provide contract letters that will state both our names? can i provide a contract letter that states my name and my partner provides another that states her name only, but under the business name?

Just to buttress what Olasunkanmi said, this is from another thread where the person had his/her application refused, and was going to appeal:


"khan_81 wrote:
so how did it go?

Yes it goes nice cause HO refusal was our name missing on advertisement material and we didn't sight both partner in a same contract paper.
Our barrister was nicely cover those point to his skeleton argument.
HO representative did not ask any question."

So both names should be on the same contract.

[Lola22]

You need to have all the amount of funds in a joint account. This can be combination of joint account in UK and joint account from abroad.

Both names and signatures must be on all contract documents. Both names on advertisement document and any other required document.


Good luck.

[Sonye]

Thank you all so much

[Sonye]

Hello,
My partner registered our company on companies house having only herself as a director. She later included me as a director. So at the moment, CH reads the two of us as directors but she has 100% of shares. We have tried changing this but to no avail. Does anyone know what we could do so it can reflect 50-50 of shares so as to be identified as equal partners of the company?
Please your assistance will be highly appreciated.