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Maintenance Fund In Joint Account


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#1 compiler53

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Posted 06 November 2012 - 05:37 AM

Hi,

I am planning to apply for Tier1 Entrepreneur Visa from outside UK. I have the amount required for maintenance in an account I jointly hold with my father. My father is the principal account holder and I am joint account holder. The account title mentions both my father name and my name like "FatherName/MyName". Can I use this account to show for maintenance funds, and if so do I need any letter be signed from my father like Letter of Consent.

Thanks and Regards.



#2 Victoria

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Posted 13 November 2012 - 07:04 PM

This is detailed in the guidance.

#3 compiler53

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Posted 16 November 2012 - 10:58 AM

Dear Victoria, Thanks for you reply. In Tier1 Guidance documents, they do not mention the nature of applicant's account being used to show maintenance fundsi.e. whether they account the applicant is using to show for maintenance funds should solely be his/her name or whether it could be joint account. And if it is joint then whether we need to get the letter with the other account holder like letter of consent. I will appreciate if you could please elaborate something about it if you know, I shall be thankful to you.

Thanks and Regards

#4 Victoria

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Posted 16 November 2012 - 11:02 AM

Are you sure about that?

#5 compiler53

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Posted 16 November 2012 - 03:43 PM

Dear Victoria,

I am showing you some relevant excerpts from the UK Guidance Policy for Tier1.

Documents we require

178. The evidence used to support personal savings for at least a consecutive 90 day period

must be original, and issued by an authorised official of that organisation.

184. Only the following specified documents will be accepted as evidence of this requirement:


i) Personal bank or building society statements covering a consecutive 90 day period:

The most recent statement must be dated no more than 31 days before the date of application.

The personal bank or building society statements should clearly show:

• your name;

• the account number;

• the date of the statement;

• the financial institution’s name and logo;

• any transactions during the 90 day period;

• that there are enough funds present in the account (the balance must always be at least £3,100 or £900 or £800, as appropriate), covering the 90 day period before the date of application;


Now as per the above excerpts, the statement I intented to show is my personal account that I jointly hold with my father as Principal account holder and both of our names are mentioned in account title as "MyFatherName/MyName". It seems that conditions mentioned in the Guidance policy is being fulfiled but I am not sure about it, this is the reason I post my query on this forum for the help. Also if it fulfils then will I need any letter of consent signed by my father to authorize me that I can also utilize the money present in the account.


Please advice, I shall be thankful to you.


Thanks and Regards.



#6 Victoria

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Posted 16 November 2012 - 03:50 PM

Well if the guidance doesn't mention it....




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