ESC

Click the "allow" button if you want to receive important news and updates from immigrationboards.com


Immigrationboards.com: Immigration, work visa and work permit discussion board

Welcome to immigrationboards.com!

Login Register Do not show

Tier 1 Venture Capital ‘ Appointed Representative of Principal

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

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

Locked
Ali313
Newly Registered
Posts: 21
Joined: Sat Jun 09, 2018 12:25 am

Tier 1 Venture Capital ‘ Appointed Representative of Principal

Post by Ali313 » Sun Nov 18, 2018 3:17 pm

In VC 50 K funding category can An “ AR’s “ firm which is a Subsidiary of “ Principal “ firm ... provide the documents on behalf of Principal Firm for funding .... the relationship between both firms can be seen on FCA , Both firms are FCA registered.
While the AR firm will make the funds available to the business on Approval of Tier 1.
Need your expert opinion ...
thanks in Advance

Ali313
Newly Registered
Posts: 21
Joined: Sat Jun 09, 2018 12:25 am

Re: Tier 1 Venture Capital ‘ Appointed Representative of Principal

Post by Ali313 » Tue Nov 20, 2018 1:01 pm

Experts Guru can help me pls ???

User avatar
marcnath
Moderator
Posts: 6479
Joined: Tue Jul 03, 2012 2:27 pm
Location: Milton Keynes

Re: Tier 1 Venture Capital ‘ Appointed Representative of Principal

Post by marcnath » Tue Nov 20, 2018 6:03 pm

Ali313 wrote:
Sun Nov 18, 2018 3:17 pm
In VC 50 K funding category can An “ AR’s “ firm which is a Subsidiary of “ Principal “ firm ... provide the documents on behalf of Principal Firm for funding .... the relationship between both firms can be seen on FCA , Both firms are FCA registered.
While the AR firm will make the funds available to the business on Approval of Tier 1.
Need your expert opinion ...
thanks in Advance
Unfortunately, immigration rules do not go into that level of detail.

But if the AR meets the requirement below, I can't see why it would not be accepted.

For venture capital firms –the name and registration number that they are listed under with the FCA as permitted to operate as a venture capital firm (its entry in the register includes a permission to arrange, deal in or manage investments, or to manage alternative investment funds)
My comments are in no way meant to be advisory. I have no professional knowledge of immigration. These are based on my own experience, convictions and personal interpretation of publicly available information.

Ali313
Newly Registered
Posts: 21
Joined: Sat Jun 09, 2018 12:25 am

Re: Tier 1 Venture Capital ‘ Appointed Representative of Principal

Post by Ali313 » Tue Nov 20, 2018 10:39 pm

appreciate your responce on that 👍🏻

Ali313
Newly Registered
Posts: 21
Joined: Sat Jun 09, 2018 12:25 am

Re: Tier 1 Venture Capital ‘ Appointed Representative of Principal

Post by Ali313 » Wed Nov 21, 2018 12:29 pm

Thanks for the reply .... the application has been refused on the basis that the AR firm is not involved in the level of investment activity by looking at Company’s house filing ... while it was clearly mentioned in Funding and Other legal documents that it’s a sunsidiary of Principal firm which has enogh funds to provide to the applicant. What you suggest if Admin Review not Accepted it’s worth to go JR ? 🙁

User avatar
marcnath
Moderator
Posts: 6479
Joined: Tue Jul 03, 2012 2:27 pm
Location: Milton Keynes

Re: Tier 1 Venture Capital ‘ Appointed Representative of Principal

Post by marcnath » Wed Nov 21, 2018 1:36 pm

Ali313 wrote:
Wed Nov 21, 2018 12:29 pm
Thanks for the reply .... the application has been refused on the basis that the AR firm is not involved in the level of investment activity by looking at Company’s house filing ... while it was clearly mentioned in Funding and Other legal documents that it’s a sunsidiary of Principal firm which has enogh funds to provide to the applicant. What you suggest if Admin Review not Accepted it’s worth to go JR ? 🙁
I don't think being a subsidiary automatically qualifies it unless they are very clear that they are doing this specific transaction on behalf of the parent.
If the AR qualifies on its own, then you should be ok.
You should always do an AR (in my personal opinion). It is not expensive and gives you additional time to plan your next action.
Without knowing the exact details it is impossible to try and figure out the chances
My comments are in no way meant to be advisory. I have no professional knowledge of immigration. These are based on my own experience, convictions and personal interpretation of publicly available information.

Ali313
Newly Registered
Posts: 21
Joined: Sat Jun 09, 2018 12:25 am

Re: Tier 1 Venture Capital ‘ Appointed Representative of Principal

Post by Ali313 » Wed Nov 21, 2018 4:04 pm

Hi Marcnath, thanks for reply,
I have applied for AR last week, one more question,
Whe i checked the status of AR firm on FCA register in ‘Permissions’ ... regulated product and services it shows
“ providing credits to customers , giving investment advice, arranging deals in Investment”. When i checked the AR’s and principal relationship it shows “ An AR is a firm running regulated activities as an agent for a firm we’ve authorised, and the Principal firm is accountable for the product they offer”.
By looking at above
I’m thinking if the Admin Review is not accepted ... shall i go for JR or go for fresh application.?
As seems OK as FCA allows the AR to act on behalf of Principal ...
I would like your input on that 👍🏻

User avatar
marcnath
Moderator
Posts: 6479
Joined: Tue Jul 03, 2012 2:27 pm
Location: Milton Keynes

Re: Tier 1 Venture Capital ‘ Appointed Representative of Principal

Post by marcnath » Wed Nov 21, 2018 4:10 pm

Ali313 wrote:
Wed Nov 21, 2018 4:04 pm
Hi Marcnath, thanks for reply,
I have applied for AR last week, one more question,
Whe i checked the status of AR firm on FCA register in ‘Permissions’ ... regulated product and services it shows
“ providing credits to customers , giving investment advice, arranging deals in Investment”. When i checked the AR’s and principal relationship it shows “ An AR is a firm running regulated activities as an agent for a firm we’ve authorised, and the Principal firm is accountable for the product they offer”.
By looking at above
I’m thinking if the Admin Review is not accepted ... shall i go for JR or go for fresh application.?
As seems OK as FCA allows the AR to act on behalf of Principal ...
I would like your input on that 👍🏻
From the description you posted, it appears that the AR can only arrange a deal. They don't do the actual investment or manage the deal. So, it appears they are not qualified as a T1E VC. Why did you not get the necessary documents directly from the Principle.

It also does not look like they are subsidiary. Rather they are just an agent. So all the documents should have come from the Principal.

Did you pay for their service ?
My comments are in no way meant to be advisory. I have no professional knowledge of immigration. These are based on my own experience, convictions and personal interpretation of publicly available information.

Ali313
Newly Registered
Posts: 21
Joined: Sat Jun 09, 2018 12:25 am

Re: Tier 1 Venture Capital ‘ Appointed Representative of Principal

Post by Ali313 » Wed Nov 21, 2018 4:43 pm

I didn’t pay them but ... the firm ll provide me the Funds, once business started i ll have to pay them back with intrest from earnings of business within specific time agreed.

Locked
cron