I came into the uk as a student under tier 4 category and subsequently switched to tier 1 post study visa in 2010. I'm planning to switch into tier 1 category with access to investment of £50000. This fund is my personal and disposable to set up a business in the UK. Kindly confirm to me how long do I have to keep this fund in my account before applying? Also, can I use fixed deposit letter as an evidence for this funds? also, what are the other things required for this application.
Province/Country relating to question : United kingdom
Hi, When does you current leave to remain expire please?Tom
16th november, 2012
HiThanks for your reply. The UKBA do not offer any specific time limits on how long you should have held the money in the relevant account but the better view is that the money should have been in the account for a minimum of 28days prior to making the application. As to evidence of funds please see 97 onwards from the UKBA guidance on the issue:-http://www.ukba.homeoffice.gov.uk/sitecontent/applicationforms/pbs/tier1entrepreneurguidance1.pdfI would submit the most recent account statement from the instuition holding the money, again no older than 28 days but at the same time request a letter from the bank holding the money complying with and confirming all those matters contained in the bullet points at 99 on the guidance. Please note though at 100 of the guidance that if the money is held in the UK then a bank/building statement on it’s own is acceptable providing that it complies with the bullet-pointed notes contained with 100. These must be original, electronic statements are not permitted and will lead to an autormatice rejection of your application. Please remember to RATE my answer OK SERVICE, GOOD SERVICE OR EXCELLENT SERVICE or above if you are satisfied that you have received the correct legal advice (even if it is not the answer you wanted to hear), otherwise I do not receive any credit for answering your question. If you are not willing to rate my answer as OK SERVICE, GOOD SERVICE OR EXCELLENT SERVICE then allow me to assist further by replying asking what clarification you require rather than rating my answer at levels below.If you wish for me to provide you with further guidance on any question you may have in the future then please submit a further question to the board requesting me either by my profile or by marking your question. “FAO Tom”. Kind regards,Tom
Thank you Tom. I clearly understand that. However, I also read that I must be self-employed and register a business prior to applying, please confirm. Can you also verify the application fees and maintenance fees for me and my dependants.
Hi, Yes, you must be self-employed or register as a director before making the application. Please see this page for confirmation:-http://www.ukba.homeoffice.gov.uk/visas-immigration/working/tier1/entrepreneur/eligibility/registered/The criteria is explained better than I could on this page as to maintenance funds:-http://www.ukba.homeoffice.gov.uk/visas-immigration/working/tier1/entrepreneur/eligibility/maintenance/Again, the maintenance funds for your dependents are explained better than I could here:-http://www.ukba.homeoffice.gov.uk/visas-immigration/working/tier1/entrepreneur/applicationsbydependants/assessmentoffunds/The application fees are as listed on the following page, just scroll to the bottom of the page and click on "Tier 1 (General) Application Fees). Please remember to RATE my answer OK SERVICE, GOOD SERVICE OR EXCELLENT SERVICE or above if you are satisfied that you have received the correct legal advice (even if it is not the answer you wanted to hear), otherwise I do not receive any credit for answering your question. Kind regards,Tom
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