Entrepreneur Visa- Investment funds

[mukesh_1891]

Hii gurus

I have some money in indian account (Joint account with my brother) and some money in UK accounts both adds upto 52K. Is it fine or can it be risky.

I have bank letter from indian bank stating that money is disposable in uk. Do i need any other letter as it is joint account with my brother.

Thanks

[Olasunkanmi]

@ mukesh_1891, you will also need a third party bank letter from your brother stating that he is providing you the amount in the account. Your brother also need to give you a signed declaration letter attested by a legal representative stating that you have assess to the money in the joint account.

[vsing012]

@ mukesh_1891,

Olasunkanmi is right it not that difficult.
read the policy guidance where you can find document required from third party & if possible take a help from solicitor.

[mehulchamria]

I don't think you need a third party letter for the fact that the money is by default equally accessible to you as you are a joint bank account holder. Third party means that the money is not directly accessible to you and you will be given the money from an account you do not have access to. This is clearly explained in the tier 1 policy guidance. I am in exactly same situation and have applied for it. Will keep you posted if I hear anything on my VISA.

[mehulchamria]

102. If you are relying on third-party funding, and the money is not in the name of your business,
your name, or joint names with you as a signatory on the account you must also supply each of
the following documents:

Page 20 of 53

This line is stated in the guidance and clearly says you will need a third-party letter if you dont have one of the above mentioned. If you have a joint account it would mean you have your name and according to the above you dont need a letter as a third party investor. I hope this makes sense.

[MTZ510]

I know at least 3 applicants who were refused because they had funds in joint account and they have not provided the the declaration from the joint account holder that the funds are fully accessible to the applicant.

Two of the applicants were team members and had money in their joint account still they were refused. The team members reapplied with the declaration in favor of each other and got the visa.

All the applicants were outside UK applicants.

102. If you are relying on third-party funding, and the money is not in the name of your business,
your name, or joint names with you as a signatory on the account you must also supply each of
the following documents:

Page 20 of 53

This line is stated in the guidance and clearly says you will need a third-party letter if you dont have one of the above mentioned. If you have a joint account it would mean you have your name and according to the above you dont need a letter as a third party investor. I hope this makes sense.

[mukesh_1891]

Hii All,

Thanks for your feedback.

Bank has issued me a letter that money is available to invest in uk. Also my name is appearing on bank statement. Don't you all think it will be sufficient.

Also 102 explains that if account is not on your name then you need third party letter.

@ Olasunkanmi : Can you please let me know, who will issue the the third party bank letter and will it be adrresed to ukba.
Also declaration letter by my brother will be addressed to bank or UKBA.

Reagrds

[Olasunkanmi]

@ mukesh_1891, The format of the letters you need are in Annex E - Templates, on pg 52 & 53 in the policy guidance.

Document 1

Document 2