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Moderators: Casa, push, JAJ, ca.funke, Amber, zimba, vinny, Obie, EUsmileWEallsmile, batleykhan, meself2, geriatrix, John, ChetanOjha, archigabe
One thing is clear - if 50K is not invested into your business, you will NOT get an extension.Legend1 wrote: ↑Fri Nov 27, 2020 9:20 pmhi moderators,
i'm a silent user and been learning alot and appreciate the time and efforts you all doing to help the us. may Allah reward you all.
hope this post not annoy you mods and i appologise for that, as im posting in someone else thread.
i have Tier 1 Ent through (Venture capital Route 50K ) last year. i already started business and created jobs and fulfilling all other requirements and started investing my own funds in business as a "Director Loan" .
unfortunaely the VC firm who supposed to invest is not willing any further and it's no longer authorised with FCA. I'm now in a situation wether if i invest my own funds for the investment purposes will that fulfill the requirements for the extension stage, or i must have to show that investment is made through VC route. i have been to many solicitors and discussed that with some accountants as well, i'm not getting the clear answer and mix reponses like( nothing at the extention stage that the investment should be from VC etc etc) .
i was going through this forum . .. but still confused what could be the best course of action i should take ?
i really need your assistance.
thanks.
Thank you so much Marcnath for assistance ,marcnath wrote: ↑Sat Nov 28, 2020 9:37 amOne thing is clear - if 50K is not invested into your business, you will NOT get an extension.Legend1 wrote: ↑Fri Nov 27, 2020 9:20 pmhi moderators,
i'm a silent user and been learning alot and appreciate the time and efforts you all doing to help the us. may Allah reward you all.
hope this post not annoy you mods and i appologise for that, as im posting in someone else thread.
i have Tier 1 Ent through (Venture capital Route 50K ) last year. i already started business and created jobs and fulfilling all other requirements and started investing my own funds in business as a "Director Loan" .
unfortunaely the VC firm who supposed to invest is not willing any further and it's no longer authorised with FCA. I'm now in a situation wether if i invest my own funds for the investment purposes will that fulfill the requirements for the extension stage, or i must have to show that investment is made through VC route. i have been to many solicitors and discussed that with some accountants as well, i'm not getting the clear answer and mix reponses like( nothing at the extention stage that the investment should be from VC etc etc) .
i was going through this forum . .. but still confused what could be the best course of action i should take ?
i really need your assistance.
thanks.
But the advice you have been getting is correct. The immigration rules does not specify a different criteria depending on what basis the application was granted. So, it APPEARS that, as long as 50K is invested and you show all the necessary documentation, your extension should be granted.
Unfortunately, you will not know the answer until you actually go through the application process. You are not the only one who has had this issue in the forum but I haven't seen any of them come back and say whether they got the extension or not.
Talk to your accountant for the details. Essentially, Share capital is just buying the shares of your company. Both Director's loans and Share capital is money from the applicant to the business. Your accountant will be able to record it in the accounts however you want it.Legend1 wrote: ↑Tue Dec 01, 2020 2:30 pmDear Marcnath ,
your detailed reply helping me alot and its really directing me what next to do. In 6 months time i ll be completing the investment as a "Director Loan " . Meanwhile i ll look for VC as well.
one more question
i was reading in forum about the " Share capital " as well as you mentioned is required less documentation than Director's Loan.
as my understanding about the direcror loan is clear it's the money from the Direcotr (applicant) to the business account transfer.
but i dont know what Share Capital is and how this type of investment process done in business ?
thanks once agin for being so patient and volunteering your valued time for us.
kind reagards
HI IREIGN,Ireign wrote: ↑Mon Dec 07, 2020 8:01 pmHi Legend1,I am in a similar situation where my initial approval was based on the VC funding of £50000 route and now i am wondering if i invest my own £50 k will i be granted points for investment,wondering if you have had any clarity on this from Solicitors or here,My extension is due in Feb 2022 so any advice will be appreciated.