Tier1 200k route

[Jenlord]

Dear fellows,

I would like to apply tier1 entrepreneur from Pakistan. My questions are as under:

1) Can I establish a cloth retail shop as my business plan?

2) The shop rent, investment on clothes, salary of staff, other such expenses.. Do they come under the 200k investment in a span of 3 years?

3) How can I provide marketing strategy while I would establish a new business after being there. Do I need to provide that too while applying the case?

4) Will third party sponsor from my maternal uncle in the UK be good enough to support my case?

[adnan742]

Hello, My cousin also want to apply from Pakistan, did you receive any response on your question? I also would like to know if I support from UK would it be plus point ?

[Jenlord]

Hello, My cousin also want to apply from Pakistan, did you receive any response on your question? I also would like to know if I support from UK would it be plus point ?

No reply yet. I am considering to file the case against the funds held in my account in Pakistan.

[alxbux]

Hi Jenlord.
It will not make any advantage if someone is funding you from UK. UKBA always refuse cases where both parties are living in different regions. Bucase of the complience issue. You need to sign a contract where you botha have to present in front of attorney.

I'll advice you to go for visit first to UK and then sign affidavit in front of UK's attorney, then presnt you proof of visit and this affidavate with your application. I hope this will then add some advantanges in your application.

[Jenlord]

Hi Jenlord.
It will not make any advantage if someone is funding you from UK. UKBA always refuse cases where both parties are living in different regions. Bucase of the complience issue. You need to sign a contract where you botha have to present in front of attorney.

I'll advice you to go for visit first to UK and then sign affidavit in front of UK's attorney, then presnt you proof of visit and this affidavate with your application. I hope this will then add some advantanges in your application.

Thanks for the reply. I am applying as a team. I think its better to show our joint statement. I do not have a business background though, neither my partner does. Could embassy raise that point in interview? We are taking an initiative.

[alxbux]

Yes to claim your points you need either a team or individual, remember if you are applying as a team, the bank letter should state the funds are available for both members. UKBA does not want your background in any business activity before applying (Specially from outside UK), but during interview the ECO will ask about the business you are intending to start in UK, so you need to work hard on your business plan...

[Jenlord]

Thanks very much. I am aware of that. The only thing confused me was having a biz background as a consultant in my locality told me that I will be refused as I don't have a biz background, nor my partner does. Do you know which banks are FSA regulated in Pakistan ?

[Olasunkanmi]

@ Jenlord, caseworker do consider the applicant's business background and work experience, but this might not be solely a reason of refusal as you can defend this if you have a solid understanding of the business you want to do.

If you took advise from experienced consultants and you can show proof of this, then this will help your case even during appeal or JR. But make sure you understand everything you intend to do from A-Z as the caseworker will always capitalize on weaknesses during interview.

[Jenlord]

@ Jenlord, caseworker do consider the applicant's business background and work experience, but this might not be solely a reason of refusal as you can defend this if you have a solid understanding of the business you want to do.

If you took advise from experienced consultants and you can show proof of this, then this will help your case even during appeal or JR. But make sure you understand everything you intend to do from A-Z as the caseworker will always capitalize on weaknesses during interview.

I am a banker by profession having 5.6 years experience. Well, that for sure I'd explore into the biz from A-Z. Do you know how to check fsa regulated bAnks in Pakistan?

[Olasunkanmi]

Check the list of FSA regulated banks on Home Office website

[alxbux]

Please Check This:

http://www.ukba.homeoffice.gov.uk/polic ... ppendixpe/

And this as well:

http://www.ukba.homeoffice.gov.uk/visas ... ent-funds/

And Also: (Copied from above link)

What is a 'regulated financial institution'?
A financial institution or institutions must confirm to us that you have the funds available. Each institution must be regulated by an official financial regulatory body (known as the 'home regulator') in the country where the institution operates and the funds are located.

If the funds are held in the UK, they must be held in an institution that is regulated by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) confirming funds.
[/u]

[famous]

[quote="Jenlord"]Dear fellows,

I would like to apply tier1 entrepreneur from Pakistan. My questions are as under:

1) Can I establish a cloth retail shop as my business plan?
[color=red]YES U CAN. NOTHING STOPPING U.[/color]
2) The shop rent, investment on clothes, salary of staff, other such expenses.. Do they come under the 200k investment in a span of 3 years?
[color=red]YES THEY DO. RENT ADVANCE DEPOSIT, STOCK INVESTMENT DO. ITEMS WHICH WILL COME IN BALANCE SHEET. REST OF EXPENSES ARE USUALLY PART OF INCOME STATEMENT. THEY ARE UR RUNNNING EXPENSES. U NEED PROPER FINANICAL STATEMENTS. IF U CANT MAKE THEM HIRE AN ACCOUNTANT HE WILL ADVISE U BETTER.[/color]
3) How can I provide marketing strategy while I would establish a new business after being there. Do I need to provide that too while applying the case?
[color=red]OBVIOUSLY U CAN MAKE A PLAN FOR MARKETING STRATETGY!! TELL THEM UR PLAN FOR FUTURE.[/color]
4) Will third party sponsor from my maternal uncle in the UK be good enough to support my case?
[color=red]THIS IM NOT EXPERT ABOUT. BUT AS OTHERS HAVE SAID THAT FROM EXPERIENCE OF OTHERS, ITS BEEN CONCLUDED THAT ITS DIFFICULT TO SATISFY THEM ABOUT GENUINENESS. U NEED THRID PARTY DECLARATIONA ND SIGNATURE WITNESS OF SOLICITOR SO U WUD HAVE TO TRAVEL TO UK AND GET THE DECLARATION SIGNED. [/color]

[famous]

IF U ARE IN PAKISTAN, TEH BANK DOESNT NEED TO BE FSA REGULATED. RATHER IT SHUD BE REGULATED BY STATE OF PAKISTAN.


ALSO THOSE WHO U ARE GOING TO DO BUSINESS FOR TEH FIRST TIME, U DONT NEED TO HAVE EXPERIENCE, IF U HAVE RELATED WORK EXPERIENCE IN A JOB OR INTERNSHIP TAHTS FINE TOO. LIKE IF U SAY THAT U WILL BE FINANCE DIRECTOR OF UR COMPANY AND U HAVE BANKING EXPERIENE AND EDUCATIONAL BACKGROUND TAHTS FINE. SIMILARLY SOMEBODY WHO HAS WORKED AS A MARKETINGE XECUTIVE IN A JOB SAYS THAT HE WANST TO BE A MARKETING DIRECTOR OF HIS COMPANY, IT WILL BE FINE.

[Jenlord]

IF U ARE IN PAKISTAN, TEH BANK DOESNT NEED TO BE FSA REGULATED. RATHER IT SHUD BE REGULATED BY STATE OF PAKISTAN.


ALSO THOSE WHO U ARE GOING TO DO BUSINESS FOR TEH FIRST TIME, U DONT NEED TO HAVE EXPERIENCE, IF U HAVE RELATED WORK EXPERIENCE IN A JOB OR INTERNSHIP TAHTS FINE TOO. LIKE IF U SAY THAT U WILL BE FINANCE DIRECTOR OF UR COMPANY AND U HAVE BANKING EXPERIENE AND EDUCATIONAL BACKGROUND TAHTS FINE. SIMILARLY SOMEBODY WHO HAS WORKED AS A MARKETINGE XECUTIVE IN A JOB SAYS THAT HE WANST TO BE A MARKETING DIRECTOR OF HIS COMPANY, IT WILL BE FINE.

Policy guideline says it should be a fsa regulated bank. Anyway, do I have to register with HMRC prior to my application considering in view that I am applying from Pakistan ? How am I supposed to provide marketing strategy? Ads on gumtree and other websites? I will establish a business once I be there. So how can I?

[az461]

IF U ARE IN PAKISTAN, TEH BANK DOESNT NEED TO BE FSA REGULATED. RATHER IT SHUD BE REGULATED BY STATE OF PAKISTAN.


ALSO THOSE WHO U ARE GOING TO DO BUSINESS FOR TEH FIRST TIME, U DONT NEED TO HAVE EXPERIENCE, IF U HAVE RELATED WORK EXPERIENCE IN A JOB OR INTERNSHIP TAHTS FINE TOO. LIKE IF U SAY THAT U WILL BE FINANCE DIRECTOR OF UR COMPANY AND U HAVE BANKING EXPERIENE AND EDUCATIONAL BACKGROUND TAHTS FINE. SIMILARLY SOMEBODY WHO HAS WORKED AS A MARKETINGE XECUTIVE IN A JOB SAYS THAT HE WANST TO BE A MARKETING DIRECTOR OF HIS COMPANY, IT WILL BE FINE.

Policy guideline says it should be a fsa regulated bank. Anyway, do I have to register with HMRC prior to my application considering in view that I am applying from Pakistan ? How am I supposed to provide marketing strategy? Ads on gumtree and other websites? I will establish a business once I be there. So how can I?

Policy guideline is made for uk applicants as well as other world. There are more than 200 countries in the world. FSA cant regualte each bank. use common sense that each country has its own regulator and in pakistan it is State bank of Pakistan.
you dont need to register with HMRC before applying. once u reach in uk then within 6 months u need to register. Dont focus on marketing strategy too much . just include this in business plan. u need everything on paper.

[Jenlord]

What if my dad's friend is sponsoring me? Third party bank statement? What docs I need to provide to cover that money is avl to me and my partner and is disposable for business in UK. An affidavit from third party with his signatures, my and my partner's signatures, attested by lawyer or notary public in Pakistan? Also, embassy can raise this point that why my uncle is sponsoringe as he has no blood relation with me or my partner. How to cover it all? Gurus!! Please advise.