Funds in UK Bank account, but recently got transfered

[asdfgh]

Hi all,

I'm applying in the PSW to Entrepreneur category and fell short of some amount. My brother and father transferred the remaining funds to get over the 50k mark. Now my UK bank account has sufficient funds as per the requirement.

My question is, would the money transferred by my father and brother would be deemed 'third party' funding? Do they need to provide any consent letter as per the third party requirement? Obviously the money is disposable in the UK as I intend to invest it over the 3 year period.

Secondly, the funds have been recently transferred into my account, a week back to be precise and I'm planning to apply within next 4 weeks. Does it matter when the funds have appeared in my account, because the latest bank statement would show the dates the fund got transferred?

Thanks in anticipation.

[sriks]

As long as the money is in "Your" current account, it doesnt matter who transferred you the money.


The policy guidance doesnt state that the money should have been in the UK for X amount of time, so your 2nd point is nothing to worry about either...

go ahead and get the rest of documents ..

[asdfgh]

Thanks very much for a prompt response.

Apologies, but not sure to open a new thread for another question I have:

I went through the guidelines and the application form just now. Regarding the contract, just wondering why is it that the application has option to say whether we are providing a contract or not, if providing contract is mandatory?

It's just that in some business it may be more difficult to set up a business and straight away get the contract.

Anyone heard of any cases where they got the visa without providing a contract?

Cheers!

[asdfgh]

Hi,

Can anyone please respond on my last query:

Realistically for some business it may not be possible to obtain a contract in such a short time (I've begun operations since last month only and intend to apply in next 4 weeks).

Besides an actual contract, I have all other documentation ready for T1 Entrepreneur Visa. My business (consulting) has a long gestation period and takes time to win clients.

Any advise on the 'necessitation' of contract?

[sriks]

Hello ther mate..

if you are switching from PSW, it is necessary to have a contract.

http://www.whatdotheyknow.com/request/s ... ing-339349

Applicants would be required to show proof of trading. If they are unable to provide this evidence they can still apply under the other parts of the Entrepreneur criteria (i.e. have £200,000 of funds to invest or have £50,000 from certain specified sources).

[asdfgh]

Thanks mate, much appreciated.

It's a pain in the arse though