URGENT- Need Advice Regarding Third party Funding

[bobpatel]

my previous application rejected due to i submitted uk third party bank statement. In refusal they mention that its uk account due to that it should be on my name rather then third party name.

Now I am going to make new application. I need advice that.

Can I use UK person or company as third party ?


Second thing it that gov.uk new website saying different story

https://www.gov.uk/tier-1-entrepreneur/ ... ment-funds

Apply with an approved funding source

You can apply if your investment funds come from either:

a venture capital firm registered with the Financial Conduct Authority
a UK entrepreneurial seed funding competition endorsed by UK Trade and Investment (UKTI)
a UK government department making funds available for the purpose of setting up or expanding a UK business
Your investment funds can’t include:

your own money 

money from any other third parties
You can combine money from 1 of the 3 sources above but not from other third parties or with your own money.

Kindly Advice Me... what to do ? Can I transfer fund from third party to my personal account and show it simply or submit it with third party letter ?

[cpmlkhan]

They overlooked your last application Anyways I prefer you to transfer your money into your personal & do your documentation done professionally. Hope will help

[bobpatel]

Any advice regarding new information they mentioned on new gov.uk website ?

[bobpatel]

After transfer money from uk third party account to my personal uk account . Is it consider as third party funding or personal money ?

[Olasunkanmi]

@ bobpatel, Your appeal should be a straightaway win and your evidence are;

245DD. Requirements for leave to remain

Paragraph 245DD (h)(iii)(3) of Immigration Rules

(iii) that the money referred to in Table 4 of Appendix A is genuinely available to the applicant, and will remain available to him until such time as it is spent by his business or businesses. 'Available to him' means that the funds are:

(3) available from the third party or parties named in the application under the terms of the declaration(s) referred to in paragraph 41-SD(b) of Appendix A;


Paragraph 41-SD (d)(6)/(7)/(8) of Appendix A in the Immigration Rules

41-SD. The specified documents in Table 4 and paragraph 41, and associated definitions, are as follows:

(d) If the applicant is applying using money from a third party, he must provide all of the following specified documents:

(6) if the third party is a venture capitalist firm, confirmation of whether this body is regulated by the Financial Conduct Authority (FCA) and is listed as permitted to operate as a Venture Capital firm,

(7) if the third party is a UK Seed Funding Competition, confirmation that the applicant, the entrepreneurial team or the applicant’s business has been awarded money and that the competition is listed as endorsed on the UK Trade & Investment website, together with the amount of the award and naming the applicant, the entrepreneurial team or the applicant’s business as a winner,

(8) if the third party is a UK Government Department, confirmation that it has made money available for the specific purpose of establishing or expanding a UK business, and the amount, and

In my opinion its better to appeal if you can be patience and your argument should be that there is nowhere in the Immigration Rules that states that third party sponsor is not accepted for UK bank account.

Home Office have now turn to a casino parlour were the caseworkers just decide to refuse applications on silly interpretation from their own imagination. There are lots of members who had successfully received their visa by using third party sponsor in UK.

You can decide to re-apply by showing funds in personal account, but who knows what the caseworkers will bring up again in the new application, so my advice is to appeal.

[cpmlkhan]

After transfer money from uk third party account to my personal uk account . Is it consider as third party funding or personal money ?

It will be consider as your money mate. Every one who got money into their personal accounts transferred from some where else. But you have to be bit clever in it. Yes all solicitors will ask you go for appeal which is waste of time & money.

[ishfaqsangra]

If money is in Your account then its not third party my friend.
Available" means not in your account.
if it is already in your account why third party should write taht it is "available "for you when he/she has already transferred it into your account.

They actually messed up in wrting ther refusal reason.

If third pary "Bank has written it available for you under thirdparty name" then go for appaeal if you provided only htird party balance then do not .

If mine is rejected on this I will definitely go for appeal.Case workers even themselves are not interpreting guidence properly.
In fresh application,no need for any letter from any body if it is in your account only your bank statment.

[bobpatel]

But thing is that. I need to show source of money. as per guideline. If I use money from any other person like wife, friend or any other investor then they consider as third party.

Money will be in my Personal Account but in real its not my own money. It will come from third party account to my account. Then I will submit my personal bank account statement to show 50,000 GBP fund I have.

Will I need to prove it from where I got this money ?

If Yes - then I need to say this money from third party and have to submit letter
and if NO then guide me thanks
------------------------------------
In Immigration Rules Appendix A they mention like this:

Page 22:
(ii) For money held in the UK only, a recent personal bank or building society
statement from each UK financial institution holding the funds, which confirms the
amount of money available. Each statement must satisfy the following
requirements:

(4) the account must be in the applicant's own name only (or both names
for an entrepreneurial team), not in the name of a business or third party;

Page 23 End
(d) If the applicant is applying using money from a third party, he must provide all of the
following specified documents:
(i) An original written declaration from every third party that they have made the
money available to invest in a business in the United Kingdom, containing:
(1) the names of the third party and the applicant (and his team partner's
name where relevant), or the name of the applicant‟s business,
(2) the date of the declaration,
(3) the applicant's signature and the signature of the third party (and the
signature of the applicant's team partner where relevant),
(4) the amount of money available in pounds sterling,
(5) the relationship(s) of the third party to the applicant,
(9) confirmation that the money will remain available until such time as it is
transferred to the applicant, the entrepreneurial team or the applicant‟s
business.


KINDLY GUIDE ME== ALL BIT CONFUSING TO ME

[ishfaqsangra]

I do not know how will you justify that but if you are stressing gain and again on

For Money Held in UK only:

Venture Capital or Seed funding firms in UK do not transfer money into applicant account,they have to confirm only "Money available"
if that was the case they should also transfer it into applicant's account.

If you are too confused get money into your account,and also submit the previous declaration and a letter from third party that he has "transferred money into your account as per declaration"
There is no other way you can justify funds.

I am waiting for mine and I will definitely go to the court.I am in no hurry.

[Samrod]

But thing is that. I need to show source of money. as per guideline. If I use money from any other person like wife, friend or any other investor then they consider as third party.

Money will be in my Personal Account but in real its not my own money. It will come from third party account to my account. Then I will submit my personal bank account statement to show 50,000 GBP fund I have.

Will I need to prove it from where I got this money ?

If Yes - then I need to say this money from third party and have to submit letter
and if NO then guide me thanks
------------------------------------
In Immigration Rules Appendix A they mention like this:

Page 22:
(ii) For money held in the UK only, a recent personal bank or building society
statement from each UK financial institution holding the funds, which confirms the
amount of money available. Each statement must satisfy the following
requirements:

(4) the account must be in the applicant's own name only (or both names
for an entrepreneurial team), not in the name of a business or third party;

Page 23 End
(d) If the applicant is applying using money from a third party, he must provide all of the
following specified documents:
(i) An original written declaration from every third party that they have made the
money available to invest in a business in the United Kingdom, containing:
(1) the names of the third party and the applicant (and his team partner's
name where relevant), or the name of the applicant‟s business,
(2) the date of the declaration,
(3) the applicant's signature and the signature of the third party (and the
signature of the applicant's team partner where relevant),
(4) the amount of money available in pounds sterling,
(5) the relationship(s) of the third party to the applicant,
(9) confirmation that the money will remain available until such time as it is
transferred to the applicant, the entrepreneurial team or the applicant‟s
business.


KINDLY GUIDE ME== ALL BIT CONFUSING TO ME

Yes bob, you have to take declaration from the third party that this money are available to you , signed in front of solicitor.

[VentureCapital Route]

If you show your own funding in your account or from a third party you need to show £200K - only if you show funds from VC or seed comp or govt dept you can show £50K only..
think again..