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Ex-gratia from company you are a Director of?

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

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Vishal7ue
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India

Ex-gratia from company you are a Director of?

Post by Vishal7ue » Fri Sep 06, 2019 6:31 pm

I invested 200K (unsecured loan) in an existing company and became an executive director. The company scaled up significantly and then hit turbulent times. I am now leaving the company.

Can I receive an ex-gratia from the company as do regular employees when made redundant?

I will continue to remain a director. I plan to apply for an accelerated ILR next year. I do satisfy conditions regarding revenue growth as well as employment growth.
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zimba
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Re: Ex-gratia from company you are a Director of?

Post by zimba » Fri Sep 06, 2019 6:49 pm

This is not relevant to the immigration rules. The immigration rules do not govern your business affairs
Advice is given based on my personal research and experience only. Do NOT contact me via private message for immigration advice
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Vishal7ue
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Joined: Mon Sep 02, 2019 5:52 pm
India

Re: Ex-gratia from company you are a Director of?

Post by Vishal7ue » Fri Sep 06, 2019 6:56 pm

Thanks for the quick response, Zimba!

My only concern was that on tier 1 entrepreneur visa, you need to be running the business (either as self-employed or director), so can someone make themselves redundant and claim income tax rebate in doing so and can it be looked at in a suspicious way by the authorities?

But I think you are right and I shouldn’t be scared because this is the actual state of the business and I will be losing my salary from the company in the future.
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marcnath
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Re: Ex-gratia from company you are a Director of?

Post by marcnath » Mon Sep 09, 2019 10:56 am

Vishal7ue wrote: ↑
Fri Sep 06, 2019 6:56 pm
 Thanks for the quick response, Zimba!

My only concern was that on tier 1 entrepreneur visa, you need to be running the business (either as self-employed or director), so can someone make themselves redundant and claim income tax rebate in doing so and can it be looked at in a suspicious way by the authorities?

But I think you are right and I shouldn’t be scared because this is the actual state of the business and I will be losing my salary from the company in the future.
Your investment cannot be used to make any remuneration to you, including redundancy payments.

But if your business had grown significantly, I assume your investment is not being used to pay you
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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