Tier 1 Entrepreneur Maintenance Funds | Appendix C

This post explains the details of funds required for Tier 1 Entrepreneur Maintenance purposes in the light of the Immigration Rules Appendix C.

Tier 1 Entrepreneur Maintenance Funds Requirement

Tier 1 Entrepreneur Maintenance FundsParagraph 1 of Appendix C specifies the level of the maintenance funds required for entry clearance and leave to remain applications for scoring 10 points for maintenance by the Main Applicant Tier 1 Entrepreneur.

Level of Funds Required by the Main Applicant

For an entry clearance application, Tier 1 Entrepreneur Main Applicant requires funds to the tune of £3,310/- for securing 10 Points; whereas, for a leave to remain applications the required level of funds is £945/-.

1. An applicant applying for entry clearance or leave to remain as a Tier 1 Migrant must score 10 points for funds, unless applying as a Tier 1 (Exceptional Talent) Migrant or a Tier 1 (Investor) Migrant.

2. 10 points will only be awarded if an applicant:

(a) applying for entry clearance, has the level of funds shown in the table below and provides the specified documents in paragraph 1B above, or

Category                                         Level of Funds    Points
Tier 1 (Entrepreneur)                    £3,310                        10

(b) applying for leave to remain, has the level of funds shown in the table below and provides the specified documents in paragraph 1B above, or

Level of Funds  Points
£945                        10

Tier 1 Entrepreneur Attributes and Maintenance Funds

Paragraph 3 of Appendix C explains that same funds cannot be used for securing 75 Points under Appendix A (for entrepreneurial funds) and 10 Points for Maintenance. Therefore, it is advisable to have two separate accounts i.e. one for Maintenance Funds and the other for Entrepreneurial Funds rather than clubbing the funds in one account.

3. Where the applicant is applying as a Tier 1 (Entrepreneur) Migrant, he cannot use the same funds to score points for attributes under Appendix A and to score points for maintenance funds for himself or his dependants under this Appendix or Appendix E.

Requirements for Obtaining 10 Points for Maintenance Funds

Paragraph 1A explains the requirements for claiming 10 points for maintenance funds. As per sub-paragraph 1A(b), the funds need to be in the account for consecutive 90 days.

1A. In all cases where an applicant is required to obtain points under Appendix C, the applicant must meet the requirements listed below:

(b) If the applicant is applying as a Tier 1 Migrant, a Tier 2 Migrant or a Tier 5 (Temporary Worker) Migrant, the applicant must have had the funds referred to in (a) above for a consecutive 90-day period of time, unless applying as a Tier 1 (Exceptional Talent) Migrant or a Tier 1 (Investor) Migrant;

(d) If the funds were obtained when the applicant was in the UK, the funds must have been obtained while the applicant had valid leave and was not acting in breach of any conditions attached to that leave;

(e) Where the funds are in one or more foreign currencies, the applicant must have the specified level of funds when converted to pound sterling (£) using the spot exchange rate which appears on http://www.oanda.com* for the date of the application;

(f) Where the applicant is applying as a Tier 1 Migrant, a Tier 2 Migrant or a Tier 5 Migrant, the funds must have been under his own control on the date of the application and for the period specified in (b) above; and

(g) Where the application is made at the same time as applications by the partner or child of the applicant (such that the applicant is a Relevant Points Based System Migrant for the purposes of paragraph 319AA), each applicant must have the total requisite funds specified in the relevant parts of appendices C and E. If each applicant does not individually meet the requirements of appendices C and / or E, as appropriate, all the applications (the application by the Relevant Points Based System Migrant and applications as the partner or child of that relevant Points Based system Migrant) will be refused.

(h) the end date of the 90-day and 28-day periods referred to in (b) and (c) above will be taken as the date of the closing balance on the most recent of the specified documents (where specified documents from two or more accounts are submitted, this will be the end date for the account that most favours the applicant), and must be no earlier than 31 days before the date of application.

(i) No points will be awarded where the specified documents show that the funds are held in a financial institution listed in Appendix P as being an institution with which the UK Border Agency is unable to make satisfactory verification checks.

(j) Maintenance must be in the form of cash funds. Other accounts or financial instruments such as shares, bonds, credit cards, pension funds etc, regardless of notice period are not acceptable.

(k) If the applicant wishes to rely on a joint account as evidence of available funds, the applicant (or for children under 18 years of age, the applicant’s parent or legal guardian who is legally present in the United Kingdom) must be named on the account as one of the account holders.

(l) Overdraft facilities will not be considered towards funds that are available or under an applicant’s own control.

Specified Documents- Tier 1 Entrepreneur Maintenance

Bank or Building Society Statements

1B. In all cases where Appendix C or Appendix E states that an applicant is required to provide specified documents, the specified documents are:

(a) Personal bank or building society statements which satisfy the following requirements:

(i) The statements must cover:

(1) a consecutive 90-day period of time, if the applicant is applying as a Tier 1 Migrant, a Tier 2 Migrant a Tier 5 (Temporary Worker) Migrant, or the Partner or Child of a Relevant Points Based System Migrant in any of these categories,

(ii) The most recent statement must be dated no earlier than 31 days before the date of the application;

(iii) The statements must clearly show:

(1) the name of:

i. the applicant,

ii the applicant’s parent(s) or legal guardian’s name, if the applicant is applying as Tier 4 Migrant,

iii. the name of the Relevant Points-Based System Migrant, if the applicant is applying as a Partner or Child of a Relevant Points-Based System Migrant, or

iv. the name of the applicant’s other parent who is legally present in the UK, if the applicant is applying as a Child of a Relevant Points-Based System Migrant,

(2) the account number,

(3) the date of each statement,

(4) the financial institution’s name,

(5) the financial institution’s logo,

(6) any transactions during the specified period, and

(7) that the funds in the account have been at the required level throughout the specified period;

(iv) The statements must be be either:

(1) printed on the bank’s or building society’s letterhead,

(2) electronic bank or building society statements, accompanied by a supporting letter from the bank or building society, on company headed paper, confirming the statement provided is authentic, or

(3) electronic bank or building society statements, bearing the official stamp of the bank or building society on every page,

(v) The statements must not be mini-statements from automatic teller machines (ATMs);

or

A Building Society Pass Book

(b) A building society pass book which satisfies the following requirements:

(i) The building society pass book must cover:

(1) a consecutive 90-day period of time, if the applicant is applying as a Tier 1 Migrant, a Tier 2 Migrant a Tier 5 (Temporary Worker) Migrant, or the Partner or Child of a Relevant Points Based System Migrant in any of these categories,

(ii) The period covered by the building society pass book must end no earlier than 31 days before the date of the application;

(iii) The building society pass book must clearly show:

(1) the name of:

i. the applicant,

ii the applicant’s parent(s) or legal guardian’s name, if the applicant is applying as Tier 4 Migrant,

iii. the name of the Relevant Points-Based System Migrant, if the applicant is applying as a Partner or Child of a Relevant Points-Based System Migrant, or

iv. the name of the applicant’s other parent who is legally present in the UK, if the applicant is applying as a Child of a Relevant Points-Based System Migrant,

(2) the account number,

(3) the building society’s name and logo,

(4) any transactions during the specified period, and

(5) that there have been enough funds in the applicant’s account throughout the specified period;

or

Letter from Bank, Building Society or Financial Institution

(c) A letter from the applicant’s bank or building society, or a letter from a financial institution regulated for the purpose of personal savings accounts by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) or, for overseas accounts, the official regulatory body for the country in which the institution operates and the funds are located, which satisfies the following requirements:

(i) The letter must confirm the level of funds and that they have been held for:

(1) a consecutive 90-day period of time, if the applicant is applying as a Tier 1 Migrant, a Tier 2 Migrant a Tier 5 (Temporary Worker) Migrant, or the Partner or Child of a Relevant Points Based System Migrant in any of these categories,

(2) a single date within 31 days of the date of the application, if the applicant is applying as a Tier 5 (Youth Mobility Scheme) Migrant, or

(3) a consecutive 28-day period of time, if the applicant is applying as a Tier 4 Migrant or the Partner or Child of a Relevant Points Based System Migrant who is a Tier 4 Migrant;

(ii) The period covered by the letter must end no earlier than 31 days before the date of the application;

(iii) The letter must be dated no earlier than 31 days before the date of the application;

(iv) The letter must be on the financial institution’s letterhead or official stationery;

(v) The letter must clearly show:

(1) the name of:

i. the applicant,

ii the applicant’s parent(s) or legal guardian’s name, if the applicant is applying as Tier 4 Migrant,

iii. the name of the Relevant Points-Based System Migrant, if the applicant is applying as a Partner or Child of a Relevant Points-Based System Migrant, or

iv. the name of the applicant’s other parent who is legally present in the UK, if the applicant is applying as a Child of a Relevant Points-Based System Migrant,

(2) the account number,

(3) the date of the letter,

(4) the financial institution’s name and logo,

(5) the funds held in the applicant’s account, and

(6) confirmation that there have been enough funds in the applicant’s account throughout the specified period;

Back to Top | Tier 1 Entrepreneur Maintenance

AMP | Tier 1 Entrepreneur Maintenance

Related: Related: Meaning and Purpose of UK Entrepreneur VisaAppendix A: Attributes for UK Entrepreneur Visa, Appendix B: English Language Points and via Immigration Rules Appendix C: maintenance (funds) – Immigration Rules – Guidance – GOV.UK

HOME CONTACT UK VISA AND IMMIGRATION ADVISERS
UK VISA AND IMMIGRATION SERVICES BLOG POSTS