Debate on 200k /50k funds maintenance time in abroad bank

[la]

How many days 200k funds have to be in India bank account to get the tier 1 entrepreneur visa. Could you please reply at the earliest.Thanks for your help and support.

[Aboora]

How many days 200k funds have to be in India bank account to get the tier 1 entrepreneur visa. Could you please reply at the earliest.Thanks for your help and support.

There is no specific period for the investment funds of £200K to be in the bank account. The statement from India is not required but a letter in the format specified from the bank is required with all the information as specified.i.e

The funds are in cash in the bank account.
The bank is regulated by the Reserve Bank of India.
The funds are transferable to UK.

However, as the UKBA is going to check the genuineness of the letter with the bank, the funds should be kept until the visa has been issued.

Also, note that some banks are mentioned as un checkable in India and UKBA does not accept letters from these banks.

[la]

Hi Aboora,

In past did you see any refusals if funds are kept in India bank for short period (around three weeks) and apply for the visa and after that withdraw the funds from bank.

I did not see any information in UK BA policy guidance about holding the 200k funds in India Bank till application is with UK BA.For security reasons,we can not hold 200k funds in bank till application is with UK BA as we do not know how long UK BA is going to take to process visa application.

Obviously once UK BA issue the visa, we can get the 200k funds on need basis to UK and invest funds over the span of three years.

Could you please give me the url of policy guidance where UK BA mentioned about verifying the funds on the verification date than on bank letter issued date.

Others, could you please comment on this please and let me know your experience of maintaining the 200k funds for short time in abroad bank and got visas successfully or got refused.

Thanks for your help and support so far.

[hham1224]

Hi Aboora,

In past did you see any refusal earlier if funds are kept in India bank for short period (around three weeks) and apply for the visa and after that withdraw the funds from bank.

I did not see any information in UK BA policy guidance about holding the 200k funds in India Bank till application is with UK BA.For security reasons,we can not hold 200k funds in bank till application is with UK BA as we do not know how long UK BA is going to take to process visa application.

Obviously once UK BA issue the visa, we can get the 200k funds on need basis to UK and invest funds over the span of three years.

Could you please give me the url of policy guidance where UK BA mentioned about verifying the funds on the verification date than on bank letter issued date.

Others, could you please comment on this please and let me know your experience of maintaining the 200k funds for short time in abroad bank and got visas successfully or got refused.

Thanks for your help and support so far.

It confuses me as I only kept my funds for 2 days (£50000) in Pakistani HSBC
branch. I agree with you there is no information in the immigration rules or the policy guidance for the number of days the funds should be kept in bank account.

I have already posted my application and the above post worries me.

Best Wishes

[la]

Hi hham1224,

I am in similar situation like you and waiting for others to respond on this.

[la]

Hi All,

Could you please respond to the below queries.

Could you let us know if any one applied for tier 1 entrepreneur visa by maintaining 200k / 50 k funds for short time in abroad bank and with draw the funds immediately and waiting for the result from UK BA.

Could you let us know if any one applied for tier 1 entrepreneur visa by maintaining 200k / 50 k funds for short time in abroad bank and with draw the funds immediately and got visa granted from UK BA.

Could you let us know if any one applied for tier 1 entrepreneur visa by maintaining 200k / 50 k funds for short time in abroad bank and with draw the funds immediately and visa was refused from UK BA based on unavailability of the funds on UK BA verification date than on bank letter issued date.

[hham1224]

Hi All,

Could you please respond to the below queries.

Could you let us know if any one applied for tier 1 entrepreneur visa by maintaining 200k / 50 k funds for short time in abroad bank and with draw the funds immediately and waiting for the result from UK BA.

Could you let us know if any one applied for tier 1 entrepreneur visa by maintaining 200k / 50 k funds for short time in abroad bank and with draw the funds immediately and got visa granted from UK BA.

Could you let us know if any one applied for tier 1 entrepreneur visa by maintaining 200k / 50 k funds for short time in abroad bank and with draw the funds immediately and visa was refused from UK BA.

Apologies, I have just checked my bank statement my balance is kept for 30 days not 2 days.

In addition, my funds are not kept to the date of application. Would this cause any problem?

Best Wishes,

[smaa228]

hi , what documents needed from abroad(pakistan) bank for tier1 ent. from personel accounts and can i show half money here(uk) and half in pakistan for 5o k statement.
Please advise.

regrads

[la]

Hi All,

Could you please respond to the below queries.

Could you let us know if any one applied for tier 1 entrepreneur visa by maintaining 200k / 50 k funds for short time in abroad bank and with draw the funds immediately and waiting for the result from UK BA.

Could you let us know if any one applied for tier 1 entrepreneur visa by maintaining 200k / 50 k funds for short time in abroad bank and with draw the funds immediately and got visa granted from UK BA.

Could you let us know if any one applied for tier 1 entrepreneur visa by maintaining 200k / 50 k funds for short time in abroad bank and with draw the funds immediately and visa was refused from UK BA based on unavailability of the funds on UK BA verification date than on bank letter issued date.

[smehmood]

hi , what documents needed from abroad(pakistan) bank for tier1 ent. from personel accounts and can i show half money here(uk) and half in pakistan for 5o k statement.
Please advise.

regrads

hi

yes , u can

regards

[Aboora]

Hi all,

I have got the visa but by keeping funds until the application was decided.
In the form you sign a declaration stating that the UKBA can check with the banks you have provided proof of the funds for your application.
If they check and the bank confirms, no funds are available, where does your application stands.
The spirit of the visa is to have the funds for investment in Uk. If you cannot hold the funds in the account until investment, where is your evidence of your intention to invest.

Regards

[hham1224]

Hi all,

I have got the visa but by keeping funds until the application was decided.
In the form you sign a declaration stating that the UKBA can check with the banks you have provided proof of the funds for your application.
If they check and the bank confirms, no funds are available, where does your application stands.
The spirit of the visa is to have the funds for investment in Uk. If you cannot hold the funds in the account until investment, where is your evidence of your intention to invest.

Regards

I disagree with you because if you look the template in the policy guidance, the bank letter should say "on this day (day) the applicant has £xx,xxx in his account.

UKBA will confirm that specific day not the funds on the date of application.

I hope this resolve the query?

[prudhvirajanil]

I agree with u hham1224.... Investment can me made with in 3 years and no one wants to keep the liquid cash in bank account till then... it can be transfered into uk as and when required... waiting for some one to reply this post who got their visa who removed funds from their account even before they got the visa......this will really help many people.....

[la]

Hi Smehmood,

It seems you got lot of clients handling experience which come under similar circumstances.

Could you please share your experience of clients whose funds are maintained out side UK for shorter time and got visas successfully so that this will boost confidence in new applicants.

[sriks]

Hi Smehmood,

It seems you got lot of clients which come under similar circumstances.

Could you please list out their details whose funds are maintained out side UK for shorter time and got visas successfully so that this will boost confidence in new applicants.

its not professional to reveal clients details (smehmood has already mentioned this before) and dont forget Data Protection Laws

[la]

Hi sriks,

Thanks for the info . It is my mistake to mention the content in that way.

All my intention is to share Smehmood experience about his clients funds who come under similar circumstances.

[smehmood]

Hi sriks,

Thanks for the info . It is my mistake to mention the content in that way.

All my intention is to share Smehmood experience about his clients funds who come under similar circumstances.

Hi Guys

At this stage i have 10 successful cases. Most of these people held their fund for under 15 days and they had successful cases. I know many peoples are advising to keep funds until you get visa, I am not saying they are wrong but to me it does not make sense to keep funds in bank for 5 months for nothing.
imagine you are running a business in a struggling economy and you have to deposit £50 K in bank and tell your clients that i have money to invest but before i can invest i have to keep them in bank for 5 months.

Regards

[la]

Hi Smehmood,

Thanks for the info. Could you please share any rejections of clients based on any reason including funds please. It would help new applicants who can take care of these stuff.

[solomondid]

Hi all,

One of my friend in Dubai has got his Tier 1 Ent... visa, he shown money from India and only held funds for a month or so he confirmed... His funds were from three different banks one in his name and others in his fathers name. I think funds on the date of application and genuinity of statement matters.

Hope none of your visas get rejected guys my best wishes to all and Happy new year and Merry Christmas to who celebrate!

Regards,

Solomon

[Sar78]

Hi sriks,

Thanks for the info . It is my mistake to mention the content in that way.

All my intention is to share Smehmood experience about his clients funds who come under similar circumstances.

Hi Guys

At this stage i have 10 successful cases. Most of these people held their fund for under 15 days and they had successful cases. I know many peoples are advising to keep funds until you get visa, I am not saying they are wrong but to me it does not make sense to keep funds in bank for 5 months for nothing.
imagine you are running a business in a struggling economy and you have to deposit £50 K in bank and tell your clients that i have money to invest but before i can invest i have to keep them in bank for 5 months.

Regards

Smehmood,

Did these people keep the money in a foreign bank or a UK bank?
I've been told by a number of people that if one is showing the money in a foreign bank, he/she must keep it till the visa has been issued, as the UKBA always calls up and checks whether the money is in the account.
Thanks in advance.

[alex87]

The guidance does not say that you need to keep the money in the account for a specific period of time. Therefore, I would assume that the verification checks woud focus on ascertaining the authenticity of the bank letter, not on the balance of the account on the day the check is made.

[adilzia]

hi
i want to ask 1 thing frnz
Do we need to keep the money(200k) in third party account till apply?
Money(200k) shown in bank account jst for 2 days.........5 and 6 december.
Bank statement printed on 6th december.And money took out on 6th december as well.
I have applied on 11th december.
will it b a problem in verification from ukba.Coz funds(200k) were not available on the date of application submitted.?

is this fine?