Tier-1 Entrepreneur Maintenance Funds

This posts explains what evidence an applicant must provide as proof of maintenance to support an initial or extension application for the Tier 1 (Entrepreneur) category of the points-based system.

An applicant must provide evidence of personal savings, which cover a period of 90 consecutive days, and no more than one calendar month before submitting the application.

The documents evidencing Tier-1 Entrepreneur Maintenance Funds must:

  • be original
  • be on the organization’s official letter-headed paper or stationery
  • have the organization’s official stamp
  • have been issued by an authorized official of that organization

Tier-1 Entrepreneur Maintenance Funds must be in the form of cash funds. It must not include any overdraft facilities. Other accounts or financial instruments (such as shares, bonds and pension funds), are note accepted regardless of notice

For Tier-1 Entrepreneur Maintenance Funds, the applicant must provide one of the following:

  • personal bank or building society statements covering 90 consecutive days – the most recent statement must be dated no earlier than one calendar month before the date of the application.
  • building society pass book covering the previous 90-day period.
  • a letter from the bank confirming their funds and that they have been in the bank for at least 90 days.
  • a letter from a financial institution regulated by the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) or, in the case of overseas account, the home regulator (official regulatory body for the country in which the institution operates and the funds are located), confirming funds.

The information relating to Tier-1 Entrepreneur Maintenance Funds must clearly show:

  • the applicant’s name.
  • the account number.
  • the date of the statement.
  • the financial institution’s name and logo.
  • transactions covering the 90 day period.
  • there are sufficient funds present in the account (the balance must always be at least £3,310 or £945, as appropriate).

Following Types of evidence can be accepted for Tier-1 Entrepreneur Maintenance Funds:

  • other bank statements printed on the bank’s letterhead.
  • electronic bank statements from an account, if they contain all of the details listed above and:
    • the applicant provides a supporting letter from the bank, on company headed paper, confirming the statements provided are authentic
    • the electronic bank statement has the official bank stamp on every page

These Types of Evidence are not acceptable:

  • mini-statements from automatic teller machines.
  • statements which simply show the balance in the account on a particular day.

These are not acceptable as they do not demonstrate the applicant holds sufficient funds for the full period required.

Any money earned is not acceptable when the applicant was in breach of the UK’s immigration laws as evidence of maintenance funds.

For further details please visit UK Visas & Immigration