Can I open a New company after getting Tier 1

Hi

I have got Tier 1 entrepreneur visa last week but my partners has been rejected.

we had planned for an IT business. But now I am planning to open a different business other than IT.

Is it allowed to open other business. if Yes.....can i use the new business to get extension after 3 years or I need to keep running the IT business???

please help

Yes dear. You can do whatever you want as long as you fulfil the requirements for extension.

hi Nasir,


Thanks for your quick reply. I was planning to close the IT business and open a new consultancy business in science

I spoke to my solicitor and he said no you cant close the business you have used to get the TIER 1 visa.
he said you can open new ones but not close the one i used to get the visa.

Is that true??

That's what I have believed true. If I was u, I wouldn't dissolve the original company and invite risk, rather diversify within.

ab_1820 wrote:hi Nasir,
Thanks for your quick reply. I was planning to close the IT business and open a new consultancy business in science
I spoke to my solicitor and he said no you cant close the business you have used to get the TIER 1 visa.
he said you can open new ones but not close the one i used to get the visa.
Is that true??

Brother my advice is whenver you are looking into something first use the resources coming from as they say 'Horse's mouth'. Ruminate on it and then seek counsel. Here's what it says in the guidance.

66. We recognise that, as an entrepreneur, you may have moved on to other activities and no longer be involved in the business in which you initially invested, but we still require this evidence to show that the money was invested.

Now you have to keep proof of the invested funds even if the company is dissolved and be engaged in a level 4 occupation running a different company. This makes perfect sense as HO (read U.K) just wants qualified people to invest their money and skills to boost their economy.

thanks that makes perfect sense Nasir....you are a star