If you are making an application for a Tier 1 Entrepreneur visa, you are going to need to provide evidence of investment funds. You will need to show that you have at least £50,000 available if your application is to be accepted. But, how do you prove that this is the case?
The type of evidence you are going to provide depends on where your money is located. In most cases, this will be one of the following: funding from a third party, a seed funding competition or UK government department, or it will be your own money that is in a financial institution in the United Kingdom.
If you are using your own cash, which is in a financial institution in the UK, you will need an official letter as well as a personal building society or bank statement. This is required from each institution that is holding the funds.
If this applies, you will need an official letter either from the endorsed seed funding competition, Department of International Trade or the UK government department. This needs to be an official letter from an authorised official or accountant.
Finally, if you are receiving your money from a third party, yet this is not a seed funding competition or UK government department, you are going to need to provide the following as evidence:
- A letter from an independent legal representative that certifies the signatures are valid
- A letter from the third party that confirms the money is there for your investment in a company in the UK
- An official letter from the financial institution or accountant that is holding the money
If a venture capital firm is providing the money, you also need to supply evidence that certain processes and checks have been carried out, i.e. due diligence. You also need a term sheet that has been signed by everyone involved, as well as an original letter from the firm’s fund manager, partner or director.
QC Immigration specialises in Tier 1 Entrepreneur visa applications, with exceptional success rate. Book a consultation with us today to discuss your questions.