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Funds and Maintenance Accounts 50/50

Only for UK Tier 1 (Entrepreneur) points system. This route is now closed to new applicants.

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shujjaa
Newly Registered
Posts: 7
Joined: Sun Oct 27, 2013 2:20 pm

Funds and Maintenance Accounts 50/50

Post by shujjaa » Tue Nov 05, 2013 2:17 pm

Hi Guru and all Members of forum

Please advice me as am on PSW planing to apply (Tier 1 Ent) next few month. I am having problem to deal the following issue I really appreciate if you guys help me. Thank

1) I have some of money 25k for funds in my own name saving account in UK bank.

And I also have one joint saving account (money held equivalent to £25k) in abroad Pakistani Bank with my elder brother both name on statement shows.

Can I use these two accounts as my own money to claim my total 50k and what other documents should I need to provide if use those accounts please let me know.

2) For maintenance funds can i use ISA saving accounts for my self and two dependents in uk.

Thanks and Please Please Reply me as soon as u can
Thanks again

Darvesh
Member of Standing
Posts: 444
Joined: Wed Feb 27, 2013 11:44 pm
Location: London
United Kingdom

Post by Darvesh » Tue Nov 05, 2013 2:25 pm

money in uk saving account must not be in ISA account.

the best thing wll be get the overseas money transfered here in uk into ur saving account to make it 50k or u can use that statement(which is joined with ur brother) however a third party funding affidavit needed.

if ISA is instant access then u may be able to use for maintenance.

samaygrg
Senior Member
Posts: 607
Joined: Sun Jun 10, 2012 12:12 am
Location: United Kingdom

Re: Funds and Maintenance Accounts 50/50

Post by samaygrg » Tue Nov 05, 2013 5:08 pm

shujjaa

Your maintenance fund for you and for ur any dependants, the fund got to be in Current Cash Account, unlike 50K case.

hope that helps you.
shujjaa wrote:Hi Guru and all Members of forum

Please advice me as am on PSW planing to apply (Tier 1 Ent) next few month. I am having problem to deal the following issue I really appreciate if you guys help me. Thank

1) I have some of money 25k for funds in my own name saving account in UK bank.

And I also have one joint saving account (money held equivalent to £25k) in abroad Pakistani Bank with my elder brother both name on statement shows.

Can I use these two accounts as my own money to claim my total 50k and what other documents should I need to provide if use those accounts please let me know.

2) For maintenance funds can i use ISA saving accounts for my self and two dependents in uk.

Thanks and Please Please Reply me as soon as u can
Thanks again

mcr2013
Member
Posts: 224
Joined: Fri Apr 12, 2013 11:51 am

Post by mcr2013 » Tue Nov 05, 2013 11:59 pm

hi guys please correct i might be wrong, it says clearly in policy and guidance you can keep your maintainance fund or 50k fund in current or saving account, there is no issue, its not necessary to keep the funds in cash account

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