Mandatory Business Plan - 200K Route

[MTZ510]

Hi ,

I am applying from Pakistan and have 200K funds in a FSA regulated Bank Account in my own name.

According to my calculations i meet the eligibility criteria of 95 points calculated below;

Access to 200 K funds (in my own Account) = 25 Points
Funds Held in Regulated Financial Institution = 25 Points.
Money disposable in UK (held in FSA Regulated institution)= 25 Points.

Maintenance funds in separate bank account = 10 Points.
IELTS Score Sheet = 10 Points.

I have read the UKBA Guide and nowhere its mentioned that i have to submit the business plan to eligible. My question is can i apply without any business plan by simply submitting the documents proving my eligibility for above mentioned points claimed.

I am done with application forms ( i.e Appendix 3 & VAF 9) and have got the bank letters and IELTS test score sheet with me.

Will appreciate comments from experienced members.

Thanks

[entrepreneur123]

you can apply without any additional documents such as CV, Business plan etc. however adding aditional documents will make your case strong.

Hi ,

I am applying from Pakistan and have 200K funds in a FSA regulated Bank Account in my own name.

According to my calculations i meet the eligibility criteria of 95 points calculated below;

Access to 200 K funds (in my own Account) = 25 Points
Funds Held in Regulated Financial Institution = 25 Points.
Money disposable in UK (held in FSA Regulated institution)= 25 Points.

Maintenance funds in separate bank account = 10 Points.
IELTS Score Sheet = 10 Points.

I have read the UKBA Guide and nowhere its mentioned that i have to submit the business plan to eligible. My question is can i apply without any business plan by simply submitting the documents proving my eligibility for above mentioned points claimed.

I am done with application forms ( i.e Appendix 3 & VAF 9) and have got the bank letters and IELTS test score sheet with me.

Will appreciate comments from experienced members.

Thanks

[nhpatel9]

Please do submit your CV ,Business Plan, Third party declaration etc . Third party means if your family or friends have transferred you money in your account.The Business plan should be very good.
UKBA wants to know what are you doing in your own country and what do you want to do in UK. So make best Business Plan.
They definitely ask from where the money came from. You need to prove all of this in Interview.
Submit all other additional documents as well.
Interview is necessary from Outside UK.
I am applying from India next week

All the best.

Regards.

[MTZ510]

Thanks for replying. Now i do not have any business plan at the moment, i thought once i am in UK then i will evaluate business ideas and decide what to do. Basically i am a salaried professional employed at management level position, had experience of running business but have never set up my own business, my honest plan is to get the visa and then visit UK to evaluate the business opportunities and then decide where to invest.

In the circumstances if i submit a simple write up about my professional background and future intention of setting up a business in UK will it be fine ? or i have to work on business plan before i apply ? can i just mention that i am interested in opening some franchise business?

Secondly i am applying with a team member and we have a joint account , i assume that we will need separate original bank letters from same bank . Am i right ?

Thanks again for sharing your opinion..

[nhpatel9]

You need a business plan, that's is for sure. There should something in your mind that what will you do in UK. You need write in down and make plan.
Secondly, in interview if they will come to know you don't have an idea what you will do there. THEY WILL SIMPLY REJECT your case.
Many cases outside UK have been refused even they score all 95 points. This is because they don't have business plan or there money in account is not genuine.
If you see post the people applying from Pakistan have been refused on above reasons.

Finally, open joint account in one bank that would be better , give separate declaration that fund is available to each other. Of course , Letter from bank.

Regards.

[MTZ510]

Thanks for sharing your opinion.
Contents of business plans include the projected financials and cashflows, how can i get hold of the information required to prepare these financial projections? seems i am stuck

[nhpatel9]

Sorry mate. But you need to show cash flow and other forecast.
On 31st January 2013 UKBA have published some guidelines.

According to Guidance ,
You need to show source of money.
You need to show your proper business plan.
You need to prove in business plan that you have done enough Market Research , that business will surely run and will able to compete in that particular field of business.
UKBA nowadays is very strict and keep that in mind that they want to cut down migration.
Regards.

[MTZ510]

Source of money ! didnt went through this thing in the guide
I mean my funds are genuine mostly my savings and the money i inherited from my late father.

Do i need to submit tax returns and pay stubs ? to convince them about the source of money ?

Input from other members will be appreciated

[rehan01]

U r planning to invest 200k and you are after entrepreneur visa but you don't have business plan?

I will not recommend you to apply without business plan as I think it's very important and I guess this is only solid document on which basis you can get visa easily as it explain all about ur business.


Regards

[MTZ510]

Yeah that's true . because i have never been to UK , how am i supposed to have information required for preparing a business plan? i mean one has to gather information and work on differed options before settling down on one business proposal isn't it? I know information is available on internet but still 200K investment do require proper due diligence and for that one has to be well informed.

Thanks for you opinion can you shed some light on source of fund issue discussed by on of the members above.

[rehan01]

Visa is ur requirements and its ur problem tht u hve visited uk b4 or not as this is ur home work ? As wht u asking ukba is give u visa bcz u hve funds but u don't knw wht u will do .... Been an entrepreneur this should be clear b4 applying that wht u want to do in future and to have tht on paper u need a proper business plan.

Regarding funds only individual can answer as only u knw wht ur circumstances r and how u can defends urself with questions related to funds.

Like u said its ur personal saving and money inherited frm late father.

And if funds in ur account for quite some time its even better as u can show tht ur funds over this much period of time and bank statement is there to prove consistency.

Hope it help

Regards

Yeah that's true . because i have never been to UK , how am i supposed to have information required for preparing a business plan? i mean one has to gather information and work on differed options before settling down on one business proposal isn't it? I know information is available on internet but still 200K investment do require proper due diligence and for that one has to be well informed.

Thanks for you opinion can you shed some light on source of fund issue discussed by on of the members above.

[entrepreneur123]

agree with Rehan. Also , regarding someone's comments regarding third party in above post, if funds are in your own account you do not need third party declaration etc correct me if its wrong

Yeah that's true . because i have never been to UK , how am i supposed to have information required for preparing a business plan? i mean one has to gather information and work on differed options before settling down on one business proposal isn't it? I know information is available on internet but still 200K investment do require proper due diligence and for that one has to be well informed.

Thanks for you opinion can you shed some light on source of fund issue discussed by on of the members above.

[MTZ510]

Thank you guys for your time. Have to work on business plan now.

One more query about bank letter , i have the funds in FSA regulated bank and the bank is not willing to write that the funds are transferable in UK. They are only writing my name and name of other applicant along with funds available on the letter . Now my understanding is that if the bank is regulated by FSA then there is no need to write that funds are transferable in UK. am i correct?

[rehan01]

Even if bank is regulated by fsa u stil need to get a letter mention funds r freely transferable to uk ... To clear ur doubt read policy guidance it will help tat wht exactly u need in letter and oter supporting docs.

Regards

Thank you guys for your time. Have to work on business plan now.

One more query about bank letter , i have the funds in FSA regulated bank and the bank is not willing to write that the funds are transferable in UK. They are only writing my name and name of other applicant along with funds available on the letter . Now my understanding is that if the bank is regulated by FSA then there is no need to write that funds are transferable in UK. am i correct?

[Darvesh]

@ MTZ510,

u seem very passionate abt ur application which is good however make sure u have all right documents with ur application and dont perceive things the way u want rather do it the way ukba wants.
at the end of day u making alot of efforts for this visa and paying a good money towards visa fee too.
if u can get the letter which states the money is transferable to uk then why not get it?

ukba wants solid reasoning which will convince ukba that u are investing such a big amount there. get urself familiar with ur business plan and even some taxation as well potential growth of ur money in uk.
have as much as u can.

[MTZ510]

@ Rehan

i am confused after readin your reply , please refer to the clause in guide and advice.

Quote:

Money available for investment must be disposable in the UK

61. If the money is not held in the UK, all of the funds required must be freely transferable to the
UK and able to be converted to pounds sterling.
Tier 1 (Entrepreneur) Policy Guidance version 04/2013 Page 13 of 53
62. Money held in an overseas account but in a financial institution that is regulated by the FSA will
satisfy this requirement.
63. Money held overseas in an institution that is not regulated by the FSA must have confirmation
that the money can be transferred into the UK. This can be a document from your financial
institution

UnQuote

@ Durvesh

Thanks for your advice i am trying but the bank is not ready to write this line that the money is transfereable in UK , they say its not our policy

Thanks

[rehan01]

My reply in regards to above was just to make sure u cover evrythng up as people got refusal on these basis (bank letter and missing above statement) so its better to be safe than sorry.

Hope u understand what I mean.

U applying from pakistan and if one bank not willing to do this for u than try another bank and open a bank account there ? When they know u bringing 200k into there bank thy will write whtever u need frm them?

Regards

[kim1]

Hi ,

I am applying from Pakistan and have 200K funds in a FSA regulated Bank Account in my own name.

According to my calculations i meet the eligibility criteria of 95 points calculated below;

Access to 200 K funds (in my own Account) = 25 Points
Funds Held in Regulated Financial Institution = 25 Points.
Money disposable in UK (held in FSA Regulated institution)= 25 Points.

Maintenance funds in separate bank account = 10 Points.
IELTS Score Sheet = 10 Points.

I have read the UKBA Guide and nowhere its mentioned that i have to submit the business plan to eligible. My question is can i apply without any business plan by simply submitting the documents proving my eligibility for above mentioned points claimed.

I am done with application forms ( i.e Appendix 3 & VAF 9) and have got the bank letters and IELTS test score sheet with me.

Will appreciate comments from experienced members.

Thanks

Do consider the Business plan mandatory, if you do not submit one, they will simply call you prior to your interview to submit a B,plan(reason they prepare your questionnaire from it).

Personal experience: It is more beneficial to have a genuine B,plan.

advice : If you have come so far preparing all the above why not go the extra yard and do a B,plan.

[rehan01]

Totally agree wit KIM1

Do not leave anythng try to cover every single point u can and make ur case as strong and straight forward as possible.

Regards

[MTZ510]

Thank you all for your advice. I am now working on business plan and will see if i can get that wording on bank letter.

Thanks again

[mwaqasch1]

Hi ,

I am applying from Pakistan and have 200K funds in a FSA regulated Bank Account in my own name.

According to my calculations i meet the eligibility criteria of 95 points calculated below;

Access to 200 K funds (in my own Account) = 25 Points
Funds Held in Regulated Financial Institution = 25 Points.
Money disposable in UK (held in FSA Regulated institution)= 25 Points.

Maintenance funds in separate bank account = 10 Points.
IELTS Score Sheet = 10 Points.

I have read the UKBA Guide and nowhere its mentioned that i have to submit the business plan to eligible. My question is can i apply without any business plan by simply submitting the documents proving my eligibility for above mentioned points claimed.

I am done with application forms ( i.e Appendix 3 & VAF 9) and have got the bank letters and IELTS test score sheet with me.

Will appreciate comments from experienced members.

Dear Friend,
Yes ofcourse you have to submit the Business Plan in order to proof you are the real business man and can generate the Jobs when you move to UK, and give the benefits to the country , inorder to proof that you have to have a business plan,

kindly contact me for further discretion

moon.maasoom@gmail.com
0097470105600


Thanks

[mwaqasch1]

Hi ,

I am applying from Pakistan and have 200K funds in a FSA regulated Bank Account in my own name.

According to my calculations i meet the eligibility criteria of 95 points calculated below;

Access to 200 K funds (in my own Account) = 25 Points
Funds Held in Regulated Financial Institution = 25 Points.
Money disposable in UK (held in FSA Regulated institution)= 25 Points.

Maintenance funds in separate bank account = 10 Points.
IELTS Score Sheet = 10 Points.

I have read the UKBA Guide and nowhere its mentioned that i have to submit the business plan to eligible. My question is can i apply without any business plan by simply submitting the documents proving my eligibility for above mentioned points claimed.

I am done with application forms ( i.e Appendix 3 & VAF 9) and have got the bank letters and IELTS test score sheet with me.

Will appreciate comments from experienced members.

Thanks

What happen with your case did you finish ...

[MTZ510]

What happen with your case did you finish ...

I have not even started yet

[sadiqchamdia]

hi, is it possible to contact me or send me private message. just saw that u r applying for business visa. dont know how to send pm due to using it on mobile.. m currently in Uk but soon coming back to apply for BV.