Tier 1 Extension Urgent Help required - Setting up business B

Hi All, I am new here and very much in need of your help , I am currently on a Tier 1 Ent 200k status and running a restaurant, I am facing problems of this business not being profitable and eating up all my resources,

1. can I sell this business and setup a business B ?
2. Should I setup business B first then sell the restaurant ?
3. What about the sells proceeds of my restaurant business ? will I retain previously claimed points based on investment I made into my current business
4. Has someone of you faced a similar situation if yes PLEASE PLEASE PLEASE advice me how can I work arround this problem.

Best Regards

You can start a new business. There are no restrictions on doing this in the Tier 1E rules

Zimba wrote: ↑

Mon Jun 17, 2019 12:22 pm

You can start a new business. There are no restrictions on doing this in the Tier 1E rules

Dear Zimba thanks a million for your advice I sincerely appreciate , I am willing to sell my current business (Business A) first before starting a new one and want to use it sells proceeds to start the new business (Business B) what is your opinion about how can I keep my previous points that were awarded to me when I first applied T1 Ent 200K visa. Do you think I may have re-invent the wheel again and start up afresh in terms of justifying 200K investment ?

Thanks again for your help

No. You already scored investment points unless UKVI discovers that you failed to do that