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1. If you are not a shareholder or part of the business, how are you investing the money ? Are you just a money lender ? Before figuring out the documents required, figure out the relationship ?az1 wrote: ↑Sun Sep 16, 2018 9:06 amGood morning peoples! hope you are well.
Excuse me for being a newbie on the site, I am sure this topic has been discussed a dozen times and I did go through the threads but unfortunately could not really find what I was looking for.
My scenario; I have just come to UK on the Tier 1 entrepreneur visa and now looking at what to invest in. Ideally I would like to buy a existing business with a partner of mine who is a British citizen.
Q1- There is a company with two shareholders, and I make a capital injection of 100k into their business account from my personal account. What sort of documentation will I need to show HO? I do not want to be a shareholder or have any part of the business.
Q2- I inject another 100k in my partners business, and this partner uses the funds to pay rent, create 2 new jobs, and use the money as working capital to run the business. is this allowed?
thanks
The scenarios you are describing seem to be more of an investment scenario rather than an entrepreneur one - so unlikely to qualify for your visa renewalaz1 wrote: ↑Sun Sep 16, 2018 11:47 amthanks for your reply.
back to point 1 - the company is owned by a friend and so I can be whatever is required to make the relationship legit. I do not want to have any role in the running of the company and simply want to inject the capital for my tier 1 visa. would it work if me and one of the partners draw up an agreement or a % earnings of the profit? rather than me being a director or working partner.
back to point 2- I am already on the T1E visa, so would like to complete the process. What I was trying to say is what is the best way to go about buying an existing business with a British citizen.
Any money paid to you from the company may be deducted from the investment.az1 wrote: ↑Sun Sep 16, 2018 8:25 pmyes thanks, I am aware of that. is there a particular link maybe at the gov.uk website that guides you on the points to consider while buying the business. from what I have read, you buy the business and then inject 200k into the company account.
senario: what happens if I buy the business and then inject 150k into the company account from my personal account, I become a director and hire the two people. the business goes on and lets say we make profits. once I receive the profits in my personal account can I then transfer 50k into the company account?
-during this time, am I allowed to receive shares from the profits?
-draw a salary?
- use the initial injection to pay for all the day to day running costs, such as salaries of existing workers, rent, working capital?
I apologize again for all the questions, thanks in advance.