TIER 1 EXTENSION APPLICANTS PLEASE JOIN HERE

Following are my details;

1- Tier 1 Visa 200 K outside UK.
2- Entrepreneur Team
3- Visa issued in July 2013
4- Entered UK in November 2013
5- Incorporated a company with two directors
6- Will transfer funds in Business bank account after sorting our Directors Loan Agreement.

My questions are;

1- As we are a team should we sign separate directors loan agreement of 100K each or we can sign a joint directors loan agreement of 200K.
2- What should be the tenure of Directors Loan Agreement?
3- We are investing say 50K in first year, and then increase the investment into the business as and when required, in this case i believe that the directors loan agreement should be made in the last year before extension when entire 200 K has been invested. Is my understanding correct? what should be the date on the Directors Loan Agreement?
4- Based on my entry in Uk i assume that my extension will be due in November 2016. Is it correct?

Thanks

MTZ510 wrote:Following are my details;

1- Tier 1 Visa 200 K outside UK.
2- Entrepreneur Team
3- Visa issued in July 2013
4- Entered UK in November 2013
5- Incorporated a company with two directors
6- Will transfer funds in Business bank account after sorting our Directors Loan Agreement.

My questions are;

1- As we are a team should we sign separate directors loan agreement of 100K each or we can sign a joint directors loan agreement of 200K.
2- What should be the tenure of Directors Loan Agreement?
3- We are investing say 50K in first year, and then increase the investment into the business as and when required, in this case i believe that the directors loan agreement should be made in the last year before extension when entire 200 K has been invested. Is my understanding correct? what should be the date on the Directors Loan Agreement?
4- Based on my entry in Uk i assume that my extension will be due in November 2016. Is it correct?

Thanks

1- Preferably Separate.
2- Preferably 3 Years.
3- Agreement should be signed in the beginning and date should be the one when you provide loan to the business. Speak to your accountant for additional investment to be entered in the loan agreement after certain time.
4- Yes November 2016.

Hi guys
i have query reg tier 1 entrepreneur ext.
1.if i will employ 5 full time staff for 2 yrs can i apply for ILR for straight as per their for ILR. they require 10 full time staff for 1 yrs.will UKBA consider 5 full time staff for 2 yrs to 10 full time for 1 yr.
any reply will be much appreciated

buntyz wrote:Hi guys
i have query reg tier 1 entrepreneur ext.
1.if i will employ 5 full time staff for 2 yrs can i apply for ILR for straight as per their for ILR. they require 10 full time staff for 1 yrs.will UKBA consider 5 full time staff for 2 yrs to 10 full time for 1 yr.
any reply will be much appreciated

yes - 5 full time staff for 2 yrs to 10 full time for 1 yr

Any one on tier 1 200 k category extention due 2016

cappachino wrote:Any one on tier 1 200 k category extention due 2016

Lots of us, including mine.

Can anyone share the list of documents required for extention

still wait no one is yet ready or have any experience of extension applicatipn

still 2 years to go..but definitely will b active in this discussion..good idea.

Mine is due as well in 2016...cud someone pls share accountant details around slough area..thnx in advance

Go with the guideline,your document list will be ready.

- 50K Investment proof- director loan agreement
- Businss trading proofs- adverts, banking, insurance, trade membership, HR develoment, networking, receipts of expenses, invoices, business rent, business rate paid proofs
- Profit and loss account, balance sheet, cash flow (audited accounting reports of all)
- 2 FT job creation proofs- payslips, hmrc tax proofs, passport and CV of staff, JD,PS, Vacancy
- your experience letter, CV
- Cover letter, application forms, PP fotos, fee,passports, biometric cards

So far,I have seen the extension application process is straight-forward and so is their decision. Hope it goes like this.

HTH

cappachino wrote:Can anyone share the list of documents required for extention

samaygrg wrote:Go with the guideline,your document list will be ready.

- 50K Investment proof- director loan agreement
- Businss trading proofs- adverts, banking, insurance, trade membership, HR develoment, networking, receipts of expenses, invoices, business rent, business rate paid proofs
- Profit and loss account, balance sheet, cash flow (audited accounting reports of all)
- 2 FT job creation proofs- payslips, hmrc tax proofs, passport and CV of staff, JD,PS, Vacancy
- your experience letter, CV
- Cover letter, application forms, PP fotos, fee,passports, biometric cards

So far,I have seen the extension application process is straight-forward and so is their decision. Hope it goes like this.

HTH

cappachino wrote:Can anyone share the list of documents required for extention

Are you that we need 'audited' financial statements? I thought unaudited should be fine, as long as they are signed by a professional accountant.

The extension application is straight-forward? That statement boosted my confidence

confused90 wrote:

samaygrg wrote:Go with the guideline,your document list will be ready.

- 50K Investment proof- director loan agreement
- Businss trading proofs- adverts, banking, insurance, trade membership, HR develoment, networking, receipts of expenses, invoices, business rent, business rate paid proofs
- Profit and loss account, balance sheet, cash flow (audited accounting reports of all)
- 2 FT job creation proofs- payslips, hmrc tax proofs, passport and CV of staff, JD,PS, Vacancy
- your experience letter, CV
- Cover letter, application forms, PP fotos, fee,passports, biometric cards

So far,I have seen the extension application process is straight-forward and so is their decision. Hope it goes like this.

HTH

cappachino wrote:Can anyone share the list of documents required for extention

Are you that we need 'audited' financial statements? I thought unaudited should be fine, as long as they are signed by a professional accountant.

The extension application is straight-forward? That statement boosted my confidence

As per the extension guideline, we need audited accounts of business. However, in general business practices, yeah, for small businesses, we do not need auditors' verification; prof. CA's verification will be fine.

samaygrg wrote:Go with the guideline,your document list will be ready.

- 50K Investment proof- director loan agreement
- Businss trading proofs- adverts, banking, insurance, trade membership, HR develoment, networking, receipts of expenses, invoices, business rent, business rate paid proofs
- Profit and loss account, balance sheet, cash flow (audited accounting reports of all)
- 2 FT job creation proofs- payslips, hmrc tax proofs, passport and CV of staff, JD,PS, Vacancy
- your experience letter, CV
- Cover letter, application forms, PP fotos, fee,passports, biometric cards

So far,I have seen the extension application process is straight-forward and so is their decision. Hope it goes like this.

HTH

cappachino wrote:Can anyone share the list of documents required for extention

forgot to write..one most important document on above list;
- CAR -company house report to show active directorship, which is not older than 3 months.

Cheers

I have just joined this immigration board my extension for entrepreneur tier 1 will be on April 2016.. and i am sending this msg just to check my ID is working or not ...

As per guidance, even unaudited statements can be provided... unless company has to make audited statements by law:-

Evidence to show how much has been invested
104. You must provide all the appropriate specified documents needed to establish the amount you have already invested from the following list.
i) Audited accounts
Registered companies that are required to produce audited accounts must do so. For information on who needs to produce these accounts please refer to the Companies House website on http://www.companieshouse.gov.uk/about/ ... gba3.shtml.
ii) Unaudited accounts and an accountant’s certificate of confirmation
Businesses that are not required to produce audited accounts must provide unaudited accounts, sometimes called management accounts, together with a certificate of confirmation from a suitably regulated accountant

Entrepreneur Visa extension


the requirements that you must meet if you are currently in the UK under the Tier 1 (Entrepreneur) category of the points-based system, and you want to extend your permission to stay here.

Evidence of investment in business
Evidence of being registered as a director or as self-employed
Evidence of being engaged in business activity
Evidence of having created new jobs

We will help you to organize and maintain your business activity records and the documents that you must provide as evidence that you are engaged in business activity in the UK, if you want to extend your permission to stay in the UK under Tier 1 (Entrepreneur)

yes, you are right 'Confused90'. we can stay on without audited accounts if we have qualified for exemption of this and want to take this advantage, and have applied and received the certificate of exemption from Company House.

confused90 wrote:As per guidance, even unaudited statements can be provided... unless company has to make audited statements by law:-

Evidence to show how much has been invested
104. You must provide all the appropriate specified documents needed to establish the amount you have already invested from the following list.
i) Audited accounts
Registered companies that are required to produce audited accounts must do so. For information on who needs to produce these accounts please refer to the Companies House website on http://www.companieshouse.gov.uk/about/ ... gba3.shtml.
ii) Unaudited accounts and an accountant’s certificate of confirmation
Businesses that are not required to produce audited accounts must provide unaudited accounts, sometimes called management accounts, together with a certificate of confirmation from a suitably regulated accountant

Hi samaygrg , you have provided the list below. But I dont think the guidance asks for all of these..
see my notes below..

Go with the guideline,your document list will be ready.

- 50K Investment proof- director loan agreement
- Businss trading proofs- adverts, banking, insurance, trade membership, HR develoment, networking, receipts of expenses, invoices, business rent, business rate paid proofs ( NONE of this is required -adverts, banking, insurance, trade membership, HR develoment, networking, receipts of expenses, invoices, business rent, business rate paid proofs) . They only asked for bank statement and letter from bank.
- Profit and loss account, balance sheet, cash flow (audited accounting reports of all)
- 2 FT job creation proofs- payslips, hmrc tax proofs, passport and CV of staff, JD,PS, Vacancy ( None of this is required - and CV of staff, JD,PS, Vacancy ) They have only asked for Passport, payslips, P11 (and P45 only if start date is not mentioned)
- your experience letter, CV ( Never asked for this in extension)
- Cover letter, application forms, PP fotos, fee,passports, biometric cards


Please do not provide unneccesary documents in extension application, as this will increase their expectation from other applicants and will confuse them on your own application.

Yes,there is no need for anything extra which will lead them to furtehr checks just go with the ones asked in Policy Guidence
Do we really need to submit staff CVs,are we asking them to interview Company's staff? No need

Hello Everyone,


I got my visa last year december. I have Question about the accountants.

This paragraph has published in Guideline.

Recognised United Kingdom supervisory bodies for accountants
A18. Evidence submitted from accountants must be members one of the following supervisory bodies: the Institute of Chartered Accountants in England and Wales (ICAEW), the Institute of Chartered Accountants in Scotland (ICAS), the Institute of Chartered Accountants in Ireland (ICAI); the Association of Chartered Certified Accountants (ACCA); and the Association of Authorised Public Accountants (AAPA).


there are two basic points about the accreditation of the accountants.
- Simple members of Supervisory Bodies
- Practising Members of Supervisory Bodies

we can find members on websites of any Supervisory Bodies. But they also mention Practising members.

As given statement by HomeOffice which will be the right accountant in our circumstances?

Would you be so kind to reply.

I will appreciate your help and time.

Regards

Hi
I have got the visa in January 2014
I showed my money overseas,(50k PSW route).
Now, some of that money is in my personal account. Should I transfer that money directly into my business account?

dalaremal wrote:Hi
I have got the visa in January 2014
I showed my money overseas,(50k PSW route).
Now, some of that money is in my personal account. Should I transfer that money directly into my business account?

I think you should transfer it to your business account asap. I got visa last month and I already transferred almost 30% of the investment in my account.

[quote][/quote][/code][/quote]I think you should transfer it to your business account asap. I got visa last month and I already transferred almost 30% of the investment in my account. [/quote][quote][/quote]


Thanks for making it clear!
Is it possible that I transfer 30% now (and after sometimes when I invest this 30% in my business), I transfer the remaining 70%?
Please!

You can transfer the funds when ever required. but by the time extension is due you should have invested all your funds.

dalaremal wrote:

[/code]

I think you should transfer it to your business account asap. I got visa last month and I already transferred almost 30% of the investment in my account. [/quote]

Thanks for making it clear!
Is it possible that I transfer 30% now (and after sometimes when I invest this 30% in my business), I transfer the remaining 70%?
Please![/quote]