Running Two Limited Companies At The Same Time

Can I run two limited companies at the same time where one company is the one I have applied application and investment money in.

Second company will be securing contracts as well and creating employment.

As the policy guidance says you will be working for your own business what you have invested in.

Question is if the second company is not securing investment from your side but a successful business are you allowed to continue two businesses or not ?

Any GURU

Hello

As you yourself mentioned you should have invested in the other company as well to claim the points. I am a bit confused here, is this someone else's company in which you are working as a director? Or is this your own company? If it is your own company then how come you have not invested any money in it?

I would suggest you put some investment into the other company as well just to be on a safer side and then claim points for it.

Good Luck

marketing786 wrote:Can I run two limited companies at the same time where one company is the one I have applied application and investment money in.

Second company will be securing contracts as well and creating employment.

As the policy guidance says you will be working for your own business what you have invested in.

Question is if the second company is not securing investment from your side but a successful business are you allowed to continue two businesses or not ?

Any GURU

@tier1 newbie

I have already invested 50k in one company and wants to open another limited company. The second company is not to claim points which will the first one. 2nd one is to do business as well and both will be NVQ Lvel 4.

Policy guidance says you should only work in your own ((business or businesses)) means more than one business.

another para guidance says migrant must be employed as director of the business he is to invest in....

My point on 2nd line is if you have invested 50k or 200k in one business you still can open another one and become director of both companies....? As mentioned in 1st line ((business or businesses)) established, joined or taken over.

There is no problem in being a director of 2 companies.

That is absolutely fine. I thought maybe you want to claim points for the other company as well.

marketing786 wrote:@tier1 newbie

I have already invested 50k in one company and wants to open another limited company. The second company is not to claim points which will the first one. 2nd one is to do business as well and both will be NVQ Lvel 4.

Policy guidance says you should only work in your own ((business or businesses)) means more than one business.

another para guidance says migrant must be employed as director of the business he is to invest in....

My point on 2nd line is if you have invested 50k or 200k in one business you still can open another one and become director of both companies....? As mentioned in 1st line ((business or businesses)) established, joined or taken over.

@Tier1 Newbie

According to my research you are only allowed to do business or businesses which you are investing in. Means you applied for visa with two companies and you will be investing 50k or 200k in those two companies its allowed but you can not open third company because you wont be investing in that.

In policy guidance it says migrant must be registered as director of the business he is investing in. Business can be 2 or ten but only the ones you are investing. Once you signed a directors loan agreement for 3 years with one or two companies when you applied you cannot take money out of those companies.

I hope you got my point.

marketing786 wrote:@Tier1 Newbie

According to my research you are only allowed to do business or businesses which you are investing in. Means you applied for visa with two companies and you will be investing 50k or 200k in those two companies its allowed but you can not open third company because you wont be investing in that.

In policy guidance it says migrant must be registered as director of the business he is investing in. Business can be 2 or ten but only the ones you are investing. Once you signed a directors loan agreement for 3 years with one or two companies when you applied you cannot take money out of those companies.

I hope you got my point.

Hello Marketing

I do get your point and it is absolutely legal to do so. However if you are getting registered as director in the other company then you will have to register for self employment And make sure that you are paying your taxes. Also during the extension they can ask you how you were managing both these companies so make sure that you have a justification for this.

Generally they wouldnt be bothered about how you manage but considering how they have been with applications recently, they can ask you anything. Apart from this and paying taxes on time there should not be anything else that I can forsee happening.

marketing786 wrote:According to my research you are only allowed to do business or businesses which you are investing in.

I understand if you invest 100 pounds, you satisfy the requirement.
More experiences members please comment )

Trying to make my own research. I'm not a professional lawyer and will appreciate other opinions.

Immigration Rules:

245DE. Period, conditions and curtailment of grant
(b) Leave to remain under this route will be subject to the following conditions:
(iii) no employment, other than working for the business or businesses which he has established, joined or taken over, but working for such business(es) does not include anything undertaken by the applicant pursuant to a contract of service or apprenticeship, whether express or implied and whether oral or written, with another business.

245DE does not say you are only allowed to run business or businesses which you are investing in.

245D. Purpose of this route and meaning of business
(c) Where paragraphs 245D to 245DF and paragraphs 35 to 53 of Appendix A, refer to investing funds in a business or businesses, or to money remaining available to the applicant until such time as it is spent for the purposes of his business or businesses:
(i) 'Available' means that the funds are:
(2) in the financial accounts of a UK incorporated business of which he is the director

From this I understand you can be a director of a business with access to this business' accounts without investing your own money into the business...