TIER 1 ENTREPRENEUR - EXTENSION

Can I invest funds from my personal account ?

IMI5 wrote:Can I invest funds from my personal account ?

Did you mean here that you do not want to invest from the Business Account???

No from personal account

You meant you dont wanna spend money from business bank account can i ask why do you wanna do that ,, Because for extension for this visa you have to spend money from your business bank account

IMI5 wrote:No from personal account

Please go through the T1 extension guidance, it says that we need business account. If you are saying you won't put money in it, rather invest directly from your personal account, then, I think you will loose credibility at the time of extension and may be you need to produce more evidences/documents.

Anyways, you can ask this issue with HO for definite answer.

IMI5 wrote:Can I invest funds from my personal account ?

No you can't. You definitely need a business account.

Thanks for all your replies!!

I'm investing through business account.

ofcourse u cn invest from ur personal account only if u r trading as sole trader nt as a ltd company.

hello all,

one of friend is on Tier1 E, he register a company with his friend.
they are trading good.
But my friend is planing to opt out of the partner ship after first 3 yrs of extension.
And start employment(work for another company).
Do u think by doing this he can get ILR after next 2 yrs?

We discussed a lot but still no proper solution.
Please help us.

tier1tier1tier1 wrote:hello all,

one of friend is on Tier1 E, he register a company with his friend.
they are trading good.
But my friend is planing to opt out of the partner ship after first 3 yrs of extension.
And start employment(work for another company).
Do u think by doing this he can get ILR after next 2 yrs?

We discussed a lot but still no proper solution.
Please help us.

First of all, there is no "3 years of extension", I believe you meant after the first 3 years on T1E and after extension.

NO, he can't take up employment, for what the word means as per HMRC, while holding T1E visa! Be it before extension or after extension. If he does so, he will for sure be deported, forget about ILR.

However, he can register a different company in his name and as a self-employed person can offer his services through his company to any other company. He must make sure he puts the right wordings on the contract to not make it sound like employment.

I agree with Attahaas. Tier 1 Entrepreneur visa (if not accelerated route) is formed of 2 parts: the first 3 years and 4 months, and another 2 years of extension. But both parts are Tier 1 E visa == this visa says "no employment except working for your own company or as a sole trader", means you can not work for somebody else.

Hi

Good Morning ,

can any one help me in regards to extension of ENTREPRENEUR visa

Regards

Santosh

Hi Santro;

What sort of help you need?