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The change in business should not matter.aaron_1215 wrote: ↑Mon Nov 27, 2017 10:51 amEligibility
1. As I'm now working on a different business from the one I was endorsed under Tier 1 GE, would I still be eligible for the various requirements (50k investment, can mix up sources of funds to make 50k, etc) that seems to be only available for applicants switching from Tier 1 GE to Tier 1 E? i.e. are these special requirements only on condition of the Tier 1 GE status?
This depends on whether the other member is also applying from T1GE to T1E and the two of you are applying as an entrepreneurial team. (Note team application is limited to 2 per team)aaron_1215 wrote: ↑Mon Nov 27, 2017 10:51 amInvestment
1. The business has not yet been incorporated and the team has invested 50k into the venture before I joined, however only about 35k of that amount occurred during the past 12 months. I read that for applicant switching from Tier 1 GE, investment from the past 24 months would all be eligible. Would this still apply to my situation when I've only been on Tier 1 GE for one year? Please note that these investments have all been made by the rest of the team.
In principle, yes.aaron_1215 wrote: ↑Mon Nov 27, 2017 10:51 am2. Some of these investments occurred overseas (buying competitors products etc), would these count with appropriate invoices?
Similar to the answer to Q1, depends on whether the other team member is part of the entrepreneurial team. 3rd party funding is only meant to help you with access to funds during the application process. The investment has to be made in your own name.aaron_1215 wrote: ↑Mon Nov 27, 2017 10:51 am3. Assuming that the 35k mentioned in Q1 is eligible to attribute to the 50k, the remaining 15k will be made available by a 3rd party (partner in the team). Does the signed 3rd party declaration mean that my business partner will have to invest those 15k into the business at some point? As we are in talks with potential investors, if we gain access to external investments we'd prefer not to use our own money...
Yes, strictly speaking that is correct.aaron_1215 wrote: ↑Mon Nov 27, 2017 11:57 amHi,
Many thanks for your helpful and prompt response. We are not applying as a team as my partners are British citizens. In this case, if a third party provide a bank statement of over 50k savings and sign the requested declaration, I should be able to score the points for investment in my application? And they are not legally obligated to transfer the funds to me or the business afterwards is that correct?
Much appreciated!
Many thanks! I'm much clearer about the situation now.marcnath wrote: ↑Mon Nov 27, 2017 12:19 pmYes, strictly speaking that is correct.aaron_1215 wrote: ↑Mon Nov 27, 2017 11:57 amHi,
Many thanks for your helpful and prompt response. We are not applying as a team as my partners are British citizens. In this case, if a third party provide a bank statement of over 50k savings and sign the requested declaration, I should be able to score the points for investment in my application? And they are not legally obligated to transfer the funds to me or the business afterwards is that correct?
Much appreciated!
HO/UKVI has no means of enforcing that the 3rd party makes the investment (especially as the 3rd party is most probably overseas where they don't have jurisdiction)
But HO can ask you at any time to show that you have continued access to the funds until it is invested - that is a condition of your T1E grant, so your visa can be curtailed if you can't provide that.
Also, for your extension, that money needs to have been actually invested. It doesn't have to be the same 3rd party's money, but it should be money from your personal account to the business account.
Again note that the evidence required for renewal includes evidence of transfer to the business account in your name from you (and not from the 3rd party).
UKVI leaves it to the University to decide if sufficient progress is made towards your business. And they need to provide a statement to that effect. It does not necessarily prevent you from changing businesses.aaron_1215 wrote: ↑Mon Nov 27, 2017 12:32 pm
Many thanks! I'm much clearer about the situation now.
I'm not sure if you are familiar with the Tier 1 Graduate Entrepreneur visa? The reason I'm considering switching directly to Tier 1 Entrepreneur is that the University is not certain if it is permissible for them to endorse an extension when the business has changed.
They are currently in the process of confirming with UKVI while my current visa is expiring soon. Do you happen to have any knowledge on this? I'm inclined to believe that it would not be a problem for the University to endorse my extension as long as I pass the university enterprise selection panel again with the new business idea.
I will get in touch with the University and see if we can work something out sooner. Thank you very much for your help today!marcnath wrote: ↑Mon Nov 27, 2017 12:49 pmUKVI leaves it to the University to decide if sufficient progress is made towards your business. And they need to provide a statement to that effect. It does not necessarily prevent you from changing businesses.aaron_1215 wrote: ↑Mon Nov 27, 2017 12:32 pm
Many thanks! I'm much clearer about the situation now.
I'm not sure if you are familiar with the Tier 1 Graduate Entrepreneur visa? The reason I'm considering switching directly to Tier 1 Entrepreneur is that the University is not certain if it is permissible for them to endorse an extension when the business has changed.
They are currently in the process of confirming with UKVI while my current visa is expiring soon. Do you happen to have any knowledge on this? I'm inclined to believe that it would not be a problem for the University to endorse my extension as long as I pass the university enterprise selection panel again with the new business idea.
They did not need to go to UKVI, but I believe that UKVI will confirm it is ok.
The University does need to be confident themselves that the condition for endorsement applies to your new business also.
The condition is:
Before endorsing a graduate you must ensure that the graduate:
- has a genuine, credible and innovative business idea
- will spend the majority of their working time on developing this idea
Hi, as the UKVI have not yet responded I'm starting to prepare for the Tier1E application.marcnath wrote: ↑Mon Nov 27, 2017 12:49 pmUKVI leaves it to the University to decide if sufficient progress is made towards your business. And they need to provide a statement to that effect. It does not necessarily prevent you from changing businesses.aaron_1215 wrote: ↑Mon Nov 27, 2017 12:32 pm
Many thanks! I'm much clearer about the situation now.
I'm not sure if you are familiar with the Tier 1 Graduate Entrepreneur visa? The reason I'm considering switching directly to Tier 1 Entrepreneur is that the University is not certain if it is permissible for them to endorse an extension when the business has changed.
They are currently in the process of confirming with UKVI while my current visa is expiring soon. Do you happen to have any knowledge on this? I'm inclined to believe that it would not be a problem for the University to endorse my extension as long as I pass the university enterprise selection panel again with the new business idea.
They did not need to go to UKVI, but I believe that UKVI will confirm it is ok.
The University does need to be confident themselves that the condition for endorsement applies to your new business also.
The condition is:
Before endorsing a graduate you must ensure that the graduate:
- has a genuine, credible and innovative business idea
- will spend the majority of their working time on developing this idea
As you mentioned, people are "submitting additional documents here and there". There is no assurance that any additional documents make an application strong or weak.aaron_1215 wrote: ↑Wed Nov 29, 2017 11:05 am
Hi, as the UKVI have not yet responded I'm starting to prepare for the Tier1E application.
After reading the official info on gov.uk and browsing some posts on this forum, people seem to be submitting additional documents here and there, could you kindly advise on which docs I might need to submit in addition to the following to make a strong application?
1. Detailed Business plan
2. Access to investment: third party bank statement, declaration letter and notary certificate
3. Personal maintenance proof (bank statement)
4. passport, BRP, police registration certificate