Investors
Source of money
This page explains what proof of the source of money you must provide to support your initial application to the investor category (Tier 1 Investor) under the points-based system to come to the United Kingdom.
On this page
Full details of all requirements are in the immigration rules at paragraphs 245 O-U of part 6a and Appendix A, which you can find on the right of this page. You must read the policy guidance before you apply under this category. You can download the guidance and application form from the Applying section.
Whether the money is held in the United Kingdom or overseas at the time of application, if the money has not been held in the bank account or portfolio for three months or more you must always provide evidence of the source of the money. You must supply every item of evidence that is necessary to establish the source of your money. We will contact the source of these documents to confirm the information as necessary.
Sources of money include the following:
Gift
You must send the original documents of:
- an irrevocable memorandum of gift; and
- letter from a legal adviser.
An irrevocable memorandum of gift
Money given to you (or you and your partner) within the three months immediately before the application must be shown in an irrevocable memorandum of gift (an official document that confirms the gift). Irrevocable means that the person who gave the gift cannot insist on having it back. The original memorandum of gift must be provided with the application and confirmation from a legal adviser that the memorandum of gift is valid and binding according to the laws of the country in which it was made.
You can find an example of how the letter might look at the end of the policy guidance which you can download from the Applying section.
The memorandum must clearly show:
- the name and signature of the person receiving the gift;
- the name and signature of the person giving the gift;
- the date of the memorandum;
- the amount of money being given;
- a statement that the legal ownership of the gift is transferred and that the document is the memorandum of transfer;
- a clear description of the gift; and
- a statement that the gift is irrevocable.
Letter from a legal adviser
You must send an original confirmation letter from a legal adviser capable of providing the information (this is a legal adviser permitted to practise in the country where the gift was made) clearly showing:
- the name of the legal adviser who is confirming the details;
- the registration or authority of the legal adviser to practise legally in the country in which the gift was made;
- the date of the confirmation of the memorandum;
- the name of the person giving the gift and the person receiving it;
- the amount of money given;
- the date that the money were transferred to you or your partner;
- that the memorandum is signed and valid;
- that the gift is irrevocable; and
- that the memorandum is binding according to the laws of the country in which it was made.
Deeds of sale
You must send the original documents of:
- the deeds of sale of assets; and
- a letter from a legal adviser.
Deeds of sale of assets
You must send deeds of sale of assets such as business or property if you have made the money within the three months immediately before the date of application, together with confirmation from a legal adviser that the sale was genuine and that the money is available to you. The deed of sale must be an original document and be provided with the application. All deeds of sale should meet the relevant legal requirements of the country of sale.
As a minimum requirement the deed of sale document must show:
- your name (or your name and your partner's name);
- the amount of money raised; and
- the date of the sale.
We may carry out relevant searches to confirm the information if a sale is required to be registered on an official public register in the country of sale.
Letter from a legal adviser
You must send the original confirmation letter from a legal adviser capable of providing the information (this is a legal adviser permitted to practise in the country where the gift was made) clearly showing:
- the name of the legal adviser confirming the details;
- the registration or authority of the legal adviser to practise legally in the country in which the sale was made;
- the date of the sale;
- the date of production of the letter confirming the sale;
- the details of what was sold and the amount of money received from the sale;
- the name of person receiving the money from the sale;
- the date that the money was transferred; and
- that the sale was valid according to the laws of the country in which it was made.
Evidence of a business
You must send the following original documents:
- business financial accounts; and
- a letter from a legal adviser.
If the money is currently held in your business (or the business belonging to you and your partner), you should provide business accounts together with a letter from a legal adviser who is capable of providing the information (this is a legal adviser permitted to practise in the country where the business is operating). This letter must confirm that you can lawfully extract the money from the business.
Business financial accounts
Accounts must be a profit and loss account (or income and expenditure account if the organisation is not trading for profit). Accounts should be prepared and signed off in accordance with statutory requirements and should clearly show the amount of money available for investment.
Letter from a legal adviser
The original confirmation letter from a legal adviser capable of providing the information must confirm that you (or you and your partner) can lawfully extract the money from the business. The letter must:
- be an original document and not a copy;
- show the name of the legal adviser who is confirming the details;
- show the registration or authority of the legal adviser to practise legally in the country in which the business is operating;
- show the date on which the details are confirmed; and
- confirm that you (or you and your partner) can lawfully take the money from the business in question.
Will
You must send the following original documents:
- a notarised copy of a will; and
- an original document in the form of a letter from a legal adviser confirming the will's validity.
If you (or you and your partner) have been the beneficiary of a will within the three months before making the application, and have received money as a result, then a notarised copy of the will should be provided with a letter from a legal adviser confirming the validity of the will (this is a legal adviser permitted to practise in the country where the will was made). If you (or you and your partner) have received possessions or assets, rather than money, then you (or you and your partner) may not use estimates of the value of the items as evidence of money for investment.
Notorised copy of a will
The will should show the following:
- the date of the will;
- the beneficiary of the will (this should be you or you and your partner);
- the amount of money that you (or you and your partner) have inherited; and
- the names of any executors, plus any codicils (additions) to the will that affect the amount of money that was received.
Letter from a legal adviser
The original confirmation letter from a legal adviser capable of providing the information must clearly show:
- the name of the legal adviser confirming the details;
- the registration or authority of the legal adviser to practise legally in the country in which the will was made;
- the date of the document produced by the legal adviser confirming the will;
- the date that you received the money as a result of the settlement of the will (assets or possessions will not be accepted for the award of points);
- the name of the person making the will and the beneficiary;
- confirmation of the amount of money received by you (or you and your partner);
- that the will is signed and valid; and
- that the will is valid according to the laws of the country in which it was made.
Divorce
You must send the following original documents:
- a notarised copy of the terms of a divorce settlement; and
- a letter from a legal adviser confirming that the document is valid.
Notarised copy of the terms of a divorce settlement
If you (or you and your partner) got money as a result of a divorce settlement within the three months before making the application, and have received money as a result, then a notarised copy of a financial agreement following a divorce should be provided with a letter from a legal adviser confirming that the document is valid (this is a legal adviser permitted to practise in the country where divorce took place). If you (or you and your partner) have received possessions or assets, rather than money, then we will not accept estimates of the value of the items as evidence of money for investment.
Letter from a legal adviser
The original confirmation letter from a legal adviser capable of providing the information must clearly show:
- the name of the legal adviser confirming the details;
- the registration or authority of the legal adviser to practise legally in the country in which the divorce took place;
- the date of the document produced by the legal adviser confirming the divorce settlement;
- the date that you received the money as a result of the settlement;
- the names of the persons who are divorced (one is expected to be you);
- confirmation of the amount of money received by you;
- that the divorce settlement is complete and valid; and
- that the divorce settlement is valid according to the laws of the country in which it was made.
Award or winnings
You must send the following original documents:
- a letter from an organisation issuing a financial award or winnings; and
- a confirmation letter from a legal adviser.
Winnings must be declared genuine by an original letter from the organisation issuing the award or winnings together with confirmation in the form of a letter from a legal adviser.
A letter from an organisation issuing the financial award or winnings
The letter from the organisation issuing the winnings must show:
- your name (or your and your partner's name);
- the date of the award;
- the amount of money won;
- the contact details for the organisation issuing the award or winnings.
Letter from a legal adviser
The original confirmation letter from a legal adviser capable of providing the information (this is a legal adviser permitted to practise in the country where the award was made) must clearly show:
- the name of the legal adviser confirming the details;
- the registration or authority of the legal adviser to practise legally in the country in which the award was made;
- the date of the letter of confirmation;
- the date of the award;
- the name of the recipient of the award;
- the amount of the winnings;
- the source of the winnings; and
- the date that the money was transferred to you, or you and your partner.
Other source of money
If you (or you and your partner) have received money from a source not listed, you must provide original documentation as evidence of the source of the money, with independent supporting evidence. For example, if the money was received as a result of court action, we need the original letter of confirmation of the court proceedings, and a letter from your solicitor. Both pieces of evidence must confirm:
- the amount of money received;
- the date that the money was received;
- the source of the money; and
- that you (or you and your partner) were the legal recipient of the money.
Contact details must always be provided to enable us to confirm the evidence.