Joining an existing business in the UK

[vaibhava09]

Dear All

Good evening from India.
I have been going through a lot of posts on the Tier 1 entrepreneur visa.

But I am planning to join an existing business setup in the UK that has been established for a few years. Have a few questions:

a) Do the 200,000 pounds have to be in a financial institution in the UK, in pounds, or can they be available in Indian currency and in a regulated institute, registered under the RBI? Are they required for 90 days if it is from anthird party?
b) Do the 3310 pounds in personal savings need to be in pounds or an Indian equivalent of the same will be enough?
c) The business is a small business. I have a business plan for the same, do I need to register myself as a director in the company before application or after getting my visa, can I do it once I am there?

Thanks for your help

Vaibhav

[Tier1newbie]

Hello Vaibhava

Where are you applying from ?? India or the Uk? The funds should be in the country where you are applying from. Incase of applying from India then the funds should be in one of the UKIV recognised bank, same for the personal savings. If the money is in India then it would be in rupees, the equivalent of pounds. You do not need to register yourself as a director now, you can do it after you get the visa and enter UK.

I would recommend reading the policy guidance carefully and understanding the concepts clearly before applying.

Dear All

Good evening from India.
I have been going through a lot of posts on the Tier 1 entrepreneur visa.

But I am planning to join an existing business setup in the UK that has been established for a few years. Have a few questions:

a) Do the 200,000 pounds have to be in a financial institution in the UK, in pounds, or can they be available in Indian currency and in a regulated institute, registered under the RBI? Are they required for 90 days if it is from anthird party?
b) Do the 3310 pounds in personal savings need to be in pounds or an Indian equivalent of the same will be enough?
c) The business is a small business. I have a business plan for the same, do I need to register myself as a director in the company before application or after getting my visa, can I do it once I am there?

Thanks for your help

Vaibhav

[vaibhava09]

Thank you for your help.
Went through the dossier in detail and quite a few things did become clear.