Third Party Funding in the UK ???

nafeesakhtar · Post by **nafeesakhtar** » Mon Feb 17, 2014 9:36 pm

Dear All
i always found this forum very helpful
My friend has completed his Master degree from UK and recently left the United Kingdom.His brother is in UK and just finished his degree and his visa is valid until May 2014.

1- They want to apply for Tier 1 Entrepreneur and the funding is from third party( aunt) .She lives in the UK and she has £200000 plus in her saving account.Actually they are relying on third party funding from UK.Is third party funding from the UK is allowed?????

2-one brother is in the UK other is in Pakistan.Do both of them needs to be at Pakistan to apply for visa ???? can they make application within uK?

3- What documents they needed ?? do they need business plan as well as they are not switching from PSW??

4- any other important document they need to attach?

almagirl · Post by **almagirl** » Mon Feb 17, 2014 10:42 pm

Hi

From my understanding third party funding can only be from overseas. If the funds are in the UK then it must be in the applicants own name.

I think it is better to apply from Pakistan as it will take a shorter time for the decision to be reached

nafeesakhtar · Post by **nafeesakhtar** » Tue Feb 18, 2014 10:55 am

thanks
any senior member who can confirm if third party funding is only from overseas????

nafeesakhtar · Post by **nafeesakhtar** » Tue Feb 18, 2014 11:09 am

if Home Office accepts venture capital funding from the UK then why they dont accept third party funding from UK?

Ameer_zyzom · Post by **Ameer_zyzom** » Tue Feb 18, 2014 12:56 pm

Funding in the UK ???
by almagirl » Mon Feb 17, 2014 10:42 pm

Hi

From my understanding third party funding can only be from overseas. If the funds are in the UK then it must be in the applicants own name

100% Right
the account must be in your own name only (or both names for an entrepreneurial team £50,000) only. Accounts in the name of a business or third party will not be accepted.

ishfaqsangra · Post by **ishfaqsangra** » Wed Feb 19, 2014 6:38 pm

Ameer_zyzom wrote:
Funding in the UK ???
by almagirl » Mon Feb 17, 2014 10:42 pm

Hi

From my understanding third party funding can only be from overseas. If the funds are in the UK then it must be in the applicants own name
100% Right
the account must be in your own name only (or both names for an entrepreneurial team £50,000) only. Accounts in the name of a business or third party will not be accepted.

I have not read any post saying that My visa was rejected saying "Third Party Funding is not allowed from within UK"
It is allowed as per my understanding but you require letter on your own name,solicitors verification letter and third party letter and also third party's bank (statement as a proof .additonal not required)

Ameer_zyzom · Post by **Ameer_zyzom** » Wed Feb 19, 2014 10:57 pm

It is allowed as per my understanding but you require letter on your own name,solicitors verification letter and third party letter and also third party's bank (statement as a proof .additonal not required)

Just from overseas
My advise to read the rules

ishfaqsangra · Post by **ishfaqsangra** » Thu Feb 20, 2014 4:17 pm

Ameer_zyzom wrote:
It is allowed as per my understanding but you require letter on your own name,solicitors verification letter and third party letter and also third party's bank (statement as a proof .additonal not required)
Just from overseas
My advise to read the rules

Read a post by Rizwan567 where he got a reply from UKBA saying it is allowed.but YES,there is confusion in Policy Guidence.

Olasunkanmi · Post by **Olasunkanmi** » Thu Feb 20, 2014 5:28 pm

Third party funding is accepted either in UK or anywhere in the world. Why do some people say its not acceptable when there is nothing stating that in the immigration rule and policy guidance.

ishfaqsangra · Post by **ishfaqsangra** » Thu Feb 20, 2014 5:46 pm

Olasunkanmi wrote:Third party funding is accepted either in UK or anywhere in the world. Why do people say its not acceptable when there is nothing stating that in the immigration rule and policy guidance.

Thanks for your reply Ola,,
I am applying with Third Party Funding from within UK and got all three letters (bank with my name and rest,third party +solicitor confirmatiion of signature) and Lets see.
I have not seen any body posting that My visa was rejected inspite of my name on third party leter from within Uk and the other two required letters.
What happened with your Poll Result?

Olasunkanmi · Post by **Olasunkanmi** » Thu Feb 20, 2014 5:52 pm

@ ishfaqsangra, I didnt conduct any poll, mayb you are mixing me up with someone else.

Ameer_zyzom · Post by **Ameer_zyzom** » Thu Feb 20, 2014 7:08 pm

Re: Third Party Funding in the UK ???
by Olasunkanmi » Thu Feb 20, 2014 5:28 pm

Third party funding is accepted either in UK or anywhere in the world. Why do some people say its not acceptable when there is nothing stating that in the immigration rule and policy guidance.

Thank you Olasunkanmi can you read this and c the link after and waiting for your replay
Bank statements for money held in the UK
For money held in the UK only, a recent personal bank or building society statement from the UK financial institution holding the funds, which confirms the amount of money available to you or your entrepreneurial team.

The total amount of available money must be either at least £200,000; or at least £50,000, as applicable. If the money is held in several financial institutions, you must supply a statement from each institution.

The statements must be original documents and not a copy, and:

the bank or building society holding the money must be based in the UK and regulated by the FSA;
the money must be in cash in the account. We will not accept ISA accounts or assets such as stocks and shares; and
the account must be in your own name only (or both names for an entrepreneurial team) only. Accounts in the name of a business or third party will not be accepted.
Each bank or building society statement must be on the institution's official stationery and confirm each of the following details:

your name; or your name and your entrepreneurial team member's name;
the account number;
the date of the statement;
the financial institution's name and logo; and
the bank or building society statement must have been issued by an authorised official of that institution and produced within the 3 months immediately before the date of your application.
We will not accept printouts of electronic statements without either:

a supporting letter from the bank on company headed paper, confirming the authenticity of the statements; or

The link
http://www.ukba.homeoffice.gov.uk/visas ... -to-funds/

Olasunkanmi · Post by **Olasunkanmi** » Fri Feb 21, 2014 1:24 am

and the account must be in your own name only (or both names for an entrepreneurial team) only. Accounts in the name of a business or third party will not be accepted.

The above statement simply implies that if you intend to use evidence of funds in UK banks, then you can submit only bank statement for account in your name or joint account (for entrepreneur team) without the need for additional bank letters.

The reason why they say accounts in the name of a business or third party will not be accepted is because;
-- For business account you will also have to submit CAR showing that the applicant is a director of the business before the business statement can be accepted.
-- For accounts in third party name, you will also have to submit a third party sponsor letter from the bank in addition to the third party bank statement.

The HO statement actually look confusing just as HO have always make series of errors in the policy guidance which were eventually being clarify or amended, but third party sponsor is accepted for accounts held anywhere either for sole applicants or for entrepreneurial team.

Ameer_zyzom · Post by **Ameer_zyzom** » Fri Feb 21, 2014 4:49 am

The HO statement actually look confusing just as HO have always make series of errors in the policy guidance which were eventually being clarify or amended,

Agree with you
My concern is if the case worker ask him why the money not n your account especially the money in side the country, What could be the answer?

ishfaqsangra · Post by **ishfaqsangra** » Fri Feb 21, 2014 9:54 am

Ameer_zyzom wrote:
The HO statement actually look confusing just as HO have always make series of errors in the policy guidance which were eventually being clarify or amended,
Agree with you
My concern is if the case worker ask him why the money not n your account especially the money in side the country, What could be the answer?

Answer :I will invest this money whenver and wherever will be required for the Business Improvements.Its still the intial stage.
I called UKBA today,Spoken with Mr.Amrit.He replied that Policy Guidence does not Specify that third party should be from within UK or any country.Third Party is acceptable with required letter saying Money is available for applicant from anywhere in the world.
Called @09:33 for 7-8 minuets.Mr.Amrit

And also if third party is from overseas same can be the question.Why they did not transfer money into your account if it disposable to UK and convertable to GBP?
It looks strange if your family memeber is from UK and he /she needs to send money into another country to provide you third party letters.
I hope UKBA will clear the confusion soon.

Ameer_zyzom · Post by **Ameer_zyzom** » Fri Feb 21, 2014 1:48 pm

Good Luck

ishfaqsangra · Post by **ishfaqsangra** » Fri Feb 21, 2014 7:06 pm

Ameer_zyzom wrote:Good Luck

Thanks, There are so many other documents to be doubled checked.Lets see.I am also planning to arrange all amount in my own in case if there is any concern.

jafferdeen · Post by **jafferdeen** » Sat Mar 08, 2014 4:38 pm

https://www.whatdotheyknow.com/request/ ... trepreneur

see Home Office reply for Third Party within UK

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