help on director loan

john2030 · Post by **john2030** » Thu Sep 19, 2019 6:59 am

I got an email yesterday just two days before i was planning to enter the UK for the first time on a tier 1 entrepreneur visa:

quote:
Further to your application decision letter, I am writing to inform you that there has been a technical issue in producing your Biometric Residence Permit (BRP) and it may not be available for collection on the date previously advised.
We have referred this to our technical team who are investigating the issue.
As soon as the issue is resolved we will contact you with a date for collection. If the issue is not resolved in 5 working days time, we will contact with an update of our progress.
For any further enquiries on this matter, please contact the BRP Technical Team at BRPOATECH@homeoffice.gsi.gov.uk

end of quote

i am confused now, should i go ahead and travel to the UK and wait for the BRB to be issued?
should i wait in brazil until i get the notification?
has this happened with anyone before?
many thanks in advance

CR001 · Post by **CR001** » Thu Sep 19, 2019 7:24 am

Many have this issue. You are free to travel. Ho is simply advising you of a problem

john2030 · Post by **john2030** » Thu Sep 19, 2019 7:31 am

CR001 wrote: ↑
Thu Sep 19, 2019 7:24 am
Many have this issue. You are free to travel. Ho is simply advising you of a problem

The issue is that i cant spend more than 7 days during my first trip to the UK.

I was planning to collect the BRB, and do the police registration and open bank accounts,etc..

If i am not able to get the BRB during these 7 days:
1: can i still open a bank account?
2: can i still do the police registration (it says on the visa i have do this within 7 days of entery) so is it possibile to do police registration WITHOUT BRB?
3: can i enter the UK again if i dont have my BRB?
Many thanks

Mehfuz · Post by **Mehfuz** » Thu Sep 19, 2019 10:13 am

I never got a information saying that i have to register with police.

@Mcnarcth @zimba

Do i have to register . I came on te 1 ent on 20th june 2019

CR001 · Post by **CR001** » Thu Sep 19, 2019 10:14 am

Mehfuz wrote: ↑
Thu Sep 19, 2019 10:13 am
I never got a information saying that i have to register with police.

@Mcnarcth @zimba

Do i have to register . I came on te 1 ent on 20th june 2019

You should post in your own topic rather than tagging onto another members thread.

You would have been told in the letter or on your visa if you were required to register. It only applies to certain nationalities.

marcnath · Post by **marcnath** » Fri Sep 20, 2019 8:03 pm

john2030 wrote: ↑
Thu Sep 19, 2019 7:31 am

CR001 wrote: ↑
Thu Sep 19, 2019 7:24 am
Many have this issue. You are free to travel. Ho is simply advising you of a problem
The issue is that i cant spend more than 7 days during my first trip to the UK.

I was planning to collect the BRB, and do the police registration and open bank accounts,etc..

If i am not able to get the BRB during these 7 days:
1: can i still open a bank account?
2: can i still do the police registration (it says on the visa i have do this within 7 days of entery) so is it possibile to do police registration WITHOUT BRB?
3: can i enter the UK again if i dont have my BRB?
Many thanks

1. You should be able to with all the rest of the documents but it is going to be quite troublesome since Banks would prefer to stick to standard processses.
2. Again same as above
3. HO strongly recommends you don't travel without the BRP (NOT BRB) but again as it is not your fault, you have an argument. So, you should be able to do but it is up to the ECO at the border check.

john2030 · Post by **john2030** » Thu Sep 26, 2019 6:51 pm

just to update on the case---- received an email today saying that the technical issue is resolved and i will be able to collect my BRP next week. thanks to all!

john2030 · Post by **john2030** » Thu Sep 26, 2019 7:29 pm

I plan to register my company officially as soon as i get my BRP and open a bank account. i have a question regarding the 200k investment on which i got my Tier 1 visa:

do i have to transfer all of the 200k from my personal account to my company bank account from Day 1 after i establish my company, or i can do it over the period of say 2 years?
so i transfer 100k say november 1st 2019
and 100k june 2020

marcnath · Post by **marcnath** » Thu Sep 26, 2019 8:58 pm

Do not start new posts for each question. Continue in the same thread so people have a full background.

There is no requirement to transfer the amount on Day 1. It just has to be done before extension.

CULLINAN · Post by **CULLINAN** » Fri Sep 27, 2019 11:13 pm

Correct. You can transfer £200k before your extension anytime. You can inject money in instalments/in full as per your business needs or whatever.

marcnath · Post by **marcnath** » Sat Sep 28, 2019 11:08 am

john2030 wrote: ↑
Fri Sep 27, 2019 8:51 pm

just to confirm my understanding: i am talking about transfering the 200k and not spending it all: so my plan is to transfer 100K as soon as i register my company and another 100k by second year (as i need to spend some personal money from the other 100K, and hope to replenish it by sales in year 1.

so is my plan acceptable when time comes for the extension?

You are taking risks if you use the money for personal purposes.

The rules clearly state that you have to maintain access to the ENTIRE 200K UNTIL it is invested or spent in your business.

While I haven't seen any cases of HO having refused on that reason, the rules allow them to do so if you can't show that you have maintained that access to the full 200K throughout (which you can't if you have used it for personal purposes).

Also, you cannot "replenish" the money used from sales. HO takes into account the timing of the cash flow. So, if you have withdrawn part of the money before the money from the sales came into your business bank account, that will be deducted from your investment amount.

john2030 · Post by **john2030** » Sat Sep 28, 2019 5:27 pm

Thanks Marcnath... valuable info indeed. so the 200k can't be 'topped-up' by sales. clear.
so do you think this case below is allowed:

i have 300k in my personal account, and will transfer first 100k to my business account (and use my personal account for personal expenses), then in year 2 will transfer the remaining 100k.
so you are saying HO needs to make sure that i always had the 200k (either in business or personal) ?

marcnath wrote: ↑
Sat Sep 28, 2019 11:08 am

john2030 wrote: ↑
Fri Sep 27, 2019 8:51 pm

just to confirm my understanding: i am talking about transfering the 200k and not spending it all: so my plan is to transfer 100K as soon as i register my company and another 100k by second year (as i need to spend some personal money from the other 100K, and hope to replenish it by sales in year 1.

so is my plan acceptable when time comes for the extension?

You are taking risks if you use the money for personal purposes.

The rules clearly state that you have to maintain access to the ENTIRE 200K UNTIL it is invested or spent in your business.

While I haven't seen any cases of HO having refused on that reason, the rules allow them to do so if you can't show that you have maintained that access to the full 200K throughout (which you can't if you have used it for personal purposes).

Also, you cannot "replenish" the money used from sales. HO takes into account the timing of the cash flow. So, if you have withdrawn part of the money before the money from the sales came into your business bank account, that will be deducted from your investment amount.

marcnath · Post by **marcnath** » Sun Sep 29, 2019 2:47 pm

john2030 wrote: ↑
Sat Sep 28, 2019 5:27 pm
Thanks Marcnath... valuable info indeed. so the 200k can't be 'topped-up' by sales. clear.
so do you think this case below is allowed:

i have 300k in my personal account, and will transfer first 100k to my business account (and use my personal account for personal expenses), then in year 2 will transfer the remaining 100k.
so you are saying HO needs to make sure that i always had the 200k (either in business or personal) ?

First HO does not need to make sure. HO can ask you to provide evidence that shows that "you have had access to 200K until it is invested or spent in the business".

So, no, you don't need to have 200K through out - only until it is actually invested in the business.

So, if you transfer the first 100K, you only need to maintain access to the remaining 100K since 100K is already invested in the business. Nothing stops the business from spending that 100K already received.

john2030 · Post by **john2030** » Mon Oct 07, 2019 6:48 pm

appreciate feedback on below please:

got my BRP went to police to register (in London), seems due to uni students pressure they cant register and gave me appointment to come back December 1st. I believe the appointment slip is sufficent to proof that i went within 7 days and tried to register ?

Tried to open a bank account, they askked for address , which i dont have in the UK as i just arrived and plan to stay in hotel for the next month to find suitable place.
Is there any other way to open an account without a phisical address? in Brazil we have post boxes that can be rented and become your address?

Same applies for business bank account, they cant open one before i register company (which is easy as i have seen), but again, they need utility bills to proof address.

NHS, do i need to register to start using the services when needed? we paid for the fees when we applied for the visa, but dont remember how to activate the service (if there is such thing).

i know that i should not ask about lawyers or accountants in this forum, and i dont plan to, but is there a central repository where the names of certified accountants for Uk are listed?

many thanks in advance

CR001 · Post by **CR001** » Mon Oct 07, 2019 6:52 pm

You need proof of address for everything you mention. Without it, you won't have much joy in trying to open anything official.

For NHS, you need to register with a GP in your area where you LIVE and need proof of address.

i know that i should not ask about lawyers or accountants in this forum, and i dont plan to, but is there a central repository where the names of certified accountants for Uk are listed?

Google for accountants.

Lawyers, see links below.

https://solicitors.lawsociety.org.uk/

https://www.gov.uk/find-an-immigration-adviser

john2030 · Post by **john2030** » Tue Nov 26, 2019 5:51 pm

not a tax question per-se, but from your experience:

if i rent a bigger house (say 3 BR, although i only need 2 BR), Is it possibile to use some of the 200,000 tier 1 fund to pay a part of the rent? i plan to rent an office after 4 to 6months, but i mean for the initial phase, can i allocate say a 1/3 of the rent and have it as 'business expense'

thanks in advance

QSDanik · Post by **QSDanik** » Tue Nov 26, 2019 7:07 pm

Yes you can, I did this for two years before my extention. You can add invoice for room rent to your business account and can draw for room rent from your business account as office space rent, but follow the council rules for business rate, inform to council what you are running office from home if it is applicable Business rate team will let you know. ( i think it matter if your emplpyee aslo work from your home or clients visit to your place).
however wait for seniors suggessions.

john2030 · Post by **john2030** » Tue Nov 26, 2019 8:07 pm

QSDanik wrote: ↑
Tue Nov 26, 2019 7:07 pm
Yes you can, I did this for two years before my extention. You can add invoice for room rent to your business account and can draw for room rent from your business account as office space rent, but follow the council rules for business rate, inform to council what you are running office from home if it is applicable Business rate team will let you know. ( i think it matter if your emplpyee aslo work from your home or clients visit to your place).
however wait for seniors suggessions.

thank you dear...
you mean that there is different council task if i allocate one room to be my office? and i need to ask council for details?

john2030 · Post by **john2030** » Tue Nov 26, 2019 8:10 pm

I hope to be able to open my business account soon. and will then be able to transfer the investment amounts from my personal account to my business account:

i have read that i need to have a director's loan. do i need to do it via laywer /accountant, or are there ready templates?

CR001 · Post by **CR001** » Tue Nov 26, 2019 8:30 pm

marcnath wrote: ↑
Thu Sep 26, 2019 8:58 pm
Do not start new posts for each question. Continue in the same thread so people have a full background.

marcnath · Post by **marcnath** » Thu Nov 28, 2019 11:42 am

john2030 wrote: ↑
Tue Nov 26, 2019 8:10 pm
I hope to be able to open my business account soon. and will then be able to transfer the investment amounts from my personal account to my business account:

i have read that i need to have a director's loan. do i need to do it via laywer /accountant, or are there ready templates?

Not sure where you read that you NEED to have a director's loan.

What you NEED to do is invest into your business. And I would have hoped you had understood what the basic requirements of a Tier 1 Entrepreneur visa are before you embarked on it.

Please go back to the person who advised you through your visa process and get to understand the requirements correctly.

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