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use of money

Only for UK Tier 1 (Entrepreneur) points system. This route is now closed to new applicants.

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vvktse
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Posts: 12
Joined: Fri May 03, 2013 6:40 am

use of money

Post by vvktse » Sat Mar 21, 2015 8:30 am

Hi guys,

i am planning to apply for the Tier 1 entrepreneur 200K GBP visa

i want to know if it is necessary to spend all the money into the business?

I read from the rules that if i buy a business from another person, the money i paid directly to the previous owner does not count, is that correct? so how can i buy business without paying the previous owner?

say i want to establish a local small hairdresser. is that too low-technique small basic business nature that HO would not accept?

can i use the money to buy a premise of the business, e.g. the shop for running the hairdresser?

thanks

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