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Does trading has negative impact on ILR application

Only for queries regarding Indefinite Leave to Remain (ILR). Please use the EU Settlement Scheme forum for queries about settled status under Appendix EU

Moderators: Casa, push, JAJ, ca.funke, Amber, zimba, vinny, Obie, EUsmileWEallsmile, batleykhan, meself2, geriatrix, John, ChetanOjha, archigabe

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dheeraj1025
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Does trading has negative impact on ILR application

Post by dheeraj1025 » Thu Nov 23, 2017 5:04 pm

Hi All,

I am planning to trade on cryptocurrency. I want to do a long-term investment. Trading apps and companies are requesting my national insurance.

Is this going to have any negative impact on my Leave to remain application which I am going to apply early next year?
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CR001
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Re: Does trading has negative impact on PR application

Post by CR001 » Thu Nov 23, 2017 5:16 pm

It would be useful if you stated that you are a Tier 2 General migrant.
Char (CR001 not Casa)
In life you cannot press the Backspace button!!
Please DO NOT send me a PM for immigration advice. I reserve the right to ignore the PM and not respond.
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dheeraj1025
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Re: Does trading has negative impact on PR application

Post by dheeraj1025 » Thu Nov 23, 2017 6:15 pm

Yes, i am a Tier 2 General immigrant.
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dheeraj1025
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Re: Does trading has negative impact on PR application

Post by dheeraj1025 » Fri Nov 24, 2017 6:40 pm

Any suggestions would be appreciated.

Regards
Dheeraj
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makky86
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Re: Does trading has negative impact on PR application

Post by makky86 » Fri Nov 24, 2017 6:53 pm

dheeraj1025 wrote: ↑
Thu Nov 23, 2017 5:04 pm
 Hi All,

I am planning to trade on cryptocurrency. I want to do a long-term investment. Trading apps and companies are requesting my national insurance.

Is this going to have any negative impact on my Leave to remain application which I am going to apply early next year?
As far as I know if you trade then you will have to pay tax on the profits. This might create issues when you apply for the ILR. I suggest don't do anything which may create issues later on.
II Youths a stuff neve endures II
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Echoes
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Re: Does trading has negative impact on PR application

Post by Echoes » Sat Nov 25, 2017 1:11 am

makky86 wrote: ↑
Fri Nov 24, 2017 6:53 pm
 As far as I know if you trade then you will have to pay tax on the profits. This might create issues when you apply for the ILR. I suggest don't do anything which may create issues later on.
Depends on type of trading. Spread betting is tax free in the UK. CFDs are not.
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zimba
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Re: Does trading has negative impact on ILR application

Post by zimba » Sat Nov 25, 2017 2:37 am

dheeraj1025 wrote: ↑
Thu Nov 23, 2017 5:04 pm
 Hi All,

I am planning to trade on cryptocurrency. I want to do a long-term investment. Trading apps and companies are requesting my national insurance.

Is this going to have any negative impact on my Leave to remain application which I am going to apply early next year?
Investing your money in such ventures has nothing to do with Tier 2 rules.
Cryptocurrency in general is not regulated in the UK yet. However If you make some gains, then that would require you to declare capital gains via self assessment and pay any required taxes
Advice is given based on my personal research and experience only. Do NOT contact me via private message for immigration advice
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mulderpf
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Re: Does trading has negative impact on ILR application

Post by mulderpf » Sat Nov 25, 2017 6:29 am

Do you intend on trading or investing? Specifically on the CFD route, trading could be viewed as a form of self-employment. Investing is just an investment.
Do not send me PM's with specific questions - post question in the open forum so others can also benefit from the answers.
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