New Company after Extension

Hi Gurus,

Just need to check if I can open a new business in my own name while continuing with the current one (Along with Partner). I already got my Tier1E extension and will apply ILR in mid-2018.
In addition also, is there any rules or regulations I need to follow while applying the for ILR (10yrs route) i.e. creating more jobs or showing more investment etc for my individual new company.

Moderators/Zimba, please advise me if i am allowed to have query in this new thread or you can divert me to the similar ones.

Any Help will be appreciated.

Just need to check if I can open a new business in my own name while continuing with the current one (Along with Partner). I already got my Tier1E extension and will apply ILR in mid-2018.

Yes, no problem

In addition also, is there any rules or regulations I need to follow while applying the for ILR (10yrs route) i.e. creating more jobs or showing more investment etc for my individual new company.

The 10 year ILR is based on private life in the UK when you spent 10 years of legal stay on ANY route, so you do not need to create jobs to apply for that.
However Tier 1E requirements need to be met if you apply via the normal 5 year settlement route.

Thanks Zimba,

I am just thinking in the worst case they abolish 10 yr rule and i am only able to apply through 5 year route. The business I might set up is above level 4 and will definitely continue the current partnership business as that is a different filed compared to this.

In this case, do I need to give any accounts for my individual business if required on 5year route?

(additional info- my business partners ILR due feb 2017)

thanks

I am just thinking in the worst case they abolish 10 yr rule and i am only able to apply through 5 year route. The business I might set up is above level 4 and will definitely continue the current partnership business as that is a different filed compared to this.

There is no evidence that 10 year route is going to be abolished.

In this case, do I need to give any accounts for my individual business if required on 5year route?

Under 5 year settlement route, you do NOT need to prove your investments again. Just the job creation evidence.

Thanks Zimba

Satinder25 wrote:Hi Gurus,

Just need to check if I can open a new business in my own name while continuing with the current one (Along with Partner). I already got my Tier1E extension and will apply ILR in mid-2018.
In addition also, is there any rules or regulations I need to follow while applying the for ILR (10yrs route) i.e. creating more jobs or showing more investment etc for my individual new company.

Moderators/Zimba, please advise me if i am allowed to have query in this new thread or you can divert me to the similar ones.

Any Help will be appreciated.

You can be a director of as many companies as you can , no restrictions !

There is no specific requirement for 10 yrs ILR except life in UK test and 10 years legal stay , but I strongly advise you keep fulfilling T1 extension requirement of 2 Job as a Plan B just in case if you encounter any issues in 10 Yrs route.

Thanks Ams2013,

No doubt I will continue to the good run of my current business. My original question however was that if I ever I need to apply 5 yrs route. Do I need to show any documentation of my EXTRA BUSINESS ALONG WITH MY CURRENT BUSINESS?

Satinder25 wrote:Thanks Ams2013,

No doubt I will continue to the good run of my current business. My original question however was that if I ever I need to apply 5 yrs route. Do I need to show any documentation of my EXTRA BUSINESS ALONG WITH MY CURRENT BUSINESS?

No. One business is enough to score points

Thanks Zimba and Ams

That clears all my doubts

Satinder25 wrote:Thanks Zimba and Ams

That clears all my doubts

No problem Satinder,

I have a query regarding your extension application , as it is not part of this topic hence i have inboxed you if you could check your inbox.