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Tier 1 Entrepreneur Visa - 2 Partners - £100k each

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

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psankisa
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Joined: Tue Dec 04, 2018 5:33 pm
India

Tier 1 Entrepreneur Visa - 2 Partners - £100k each

Post by psankisa » Tue Dec 04, 2018 6:34 pm

Hi Team,

We are 2 partners, currently working in UK on long term Tier 2 ICT visa. Been in the UK for about 3 years now.
We would like to set up an IT consultancy in London. We both have access to £100k each, in an Indian bank account. Have all the documentation in place. My question is as follows:

1. Do we literally have to invest all the £200k in our business post getting the visa even if the business dosent demand this amount?

2. Can we switch to Tier 2 general visa after certain time period, say 2 years, if the business dosent do well?

Appreciate your expert views. Cheers.

Regards,
Psankisa.

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

Re: Tier 1 Entrepreneur Visa - 2 Partners - £100k each

Post by marcnath » Tue Dec 04, 2018 7:00 pm

psankisa wrote:
Tue Dec 04, 2018 6:34 pm
Hi Team,

We are 2 partners, currently working in UK on long term Tier 2 ICT visa. Been in the UK for about 3 years now.
We would like to set up an IT consultancy in London. We both have access to £100k each, in an Indian bank account. Have all the documentation in place. My question is as follows:

1. Do we literally have to invest all the £200k in our business post getting the visa even if the business dosent demand this amount?

2. Can we switch to Tier 2 general visa after certain time period, say 2 years, if the business dosent do well?

Appreciate your expert views. Cheers.

Regards,
Psankisa.
Yes to both
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.

psankisa
Newly Registered
Posts: 11
Joined: Tue Dec 04, 2018 5:33 pm
India

Re: Tier 1 Entrepreneur Visa - 2 Partners - £100k each

Post by psankisa » Wed Dec 05, 2018 12:35 pm

Thank you a lot for the reply.

So, we will have to submit proofs of our £200k investment at the time of extension ? i.e after 3 years of initial leave?

Regards,
PSankisa.

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

Re: Tier 1 Entrepreneur Visa - 2 Partners - £100k each

Post by marcnath » Wed Dec 05, 2018 5:13 pm

psankisa wrote:
Wed Dec 05, 2018 12:35 pm
Thank you a lot for the reply.

So, we will have to submit proofs of our £200k investment at the time of extension ? i.e after 3 years of initial leave?

Regards,
PSankisa.
Yes - have you read the guidelines ? That would be a good place to start
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.

psankisa
Newly Registered
Posts: 11
Joined: Tue Dec 04, 2018 5:33 pm
India

Re: Tier 1 Entrepreneur Visa - 2 Partners - £100k each

Post by psankisa » Fri Dec 07, 2018 12:04 pm

Thank you.

Have read the guidelines.

The guidance just says one can switch from a tier 2 visa to tier 1 entrepreneur visa within UK. It does not mention tier 2 ICT or tier 2 general or both. Hence the confusion.

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marcnath
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Joined: Tue Jul 03, 2012 2:27 pm
Location: Milton Keynes

Re: Tier 1 Entrepreneur Visa - 2 Partners - £100k each

Post by marcnath » Sat Dec 08, 2018 12:22 am

psankisa wrote:
Fri Dec 07, 2018 12:04 pm
Thank you.

Have read the guidelines.

The guidance just says one can switch from a tier 2 visa to tier 1 entrepreneur visa within UK. It does not mention tier 2 ICT or tier 2 general or both. Hence the confusion.
When they just mention Tier 2, it applies to all categories for Tier 2
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.

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