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Tier 1 Extension 200K Route

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

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Noushad
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Tier 1 Extension 200K Route

Post by Noushad » Sat Dec 11, 2021 12:00 am

Please help me with my query

I shall be submitting my Tier 1 extension application soon on 200k route. I have purchased a running business and had deposited the asking amount to the previous owners business account. I have rehired all the staff back on my company payroll which I am maintaining from last 1 year.

I am preparing all my documents to submit.

I came across with an extension application resource material which indicates that any payments made to purchase, own or lease an existing business shall be categorized as Goodwill and will not be considered as investments??

Do hiring the same old staff with the previous owner will deprive me from my points??

Do need your very regarded opinion and advice.

Thanks.

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zimba
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Re: Tier 1 Extension 200K Route

Post by zimba » Sat Dec 11, 2021 1:44 am

Advice is given based on my personal research and experience only. Do NOT contact me via private message for immigration advice

Noushad
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Re: Tier 1 Extension 200K Route

Post by Noushad » Sat Dec 11, 2021 11:14 am

Thanks alot for your response.

The business which I had purchased terminated his employees at the time of take over. Since I was new in the business I have hired them all to save them from unemployment and to have the experience in hand to run the business. Shall these employees be counted towards the Job Creation points as they are on my company payroll since take over.

Thanks.

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marcnath
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Re: Tier 1 Extension 200K Route

Post by marcnath » Sat Dec 11, 2021 11:56 am

Noushad wrote:
Sat Dec 11, 2021 11:14 am
Thanks alot for your response.

The business which I had purchased terminated his employees at the time of take over. Since I was new in the business I have hired them all to save them from unemployment and to have the experience in hand to run the business. Shall these employees be counted towards the Job Creation points as they are on my company payroll since take over.

Thanks.
The comparison is done by looking at employees in the previous 12 months before you joined. So, if you 12 months has not passed it will probably not be counted.
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.

Noushad
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Re: Tier 1 Extension 200K Route

Post by Noushad » Sat Dec 11, 2021 3:17 pm

Many Thanks for your support and response.

Noushad
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Re: Tier 1 Extension 200K Route

Post by Noushad » Mon Dec 13, 2021 11:13 pm

Need to ask further more..

If the investement is carried out in a way where we have paid the lease agreements for any type within the established business profile and at the premises of the acquired business. If these type of payments could be considered as investment which can be made to provide the significant proof of 200k investment.

Many thanks...

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Re: Tier 1 Extension 200K Route

Post by Noushad » Tue Dec 14, 2021 5:56 pm

Good evening to all..

The confusions are leading up as my days to apply for extensions are near by.

Are there any consessions for extension due to Covid 19?
Will my investment in terms of lease or any other agreements can be countable towards the process?
How many days before we should apply for extension?
Thanks

.

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zimba
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Re: Tier 1 Extension 200K Route

Post by zimba » Tue Dec 14, 2021 6:06 pm

Did the money go to the previous owner ?
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Noushad
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Re: Tier 1 Extension 200K Route

Post by Noushad » Wed Dec 15, 2021 10:59 am

Yes the money is deposited in the business account of the previous owner.

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marcnath
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Re: Tier 1 Extension 200K Route

Post by marcnath » Wed Dec 15, 2021 11:17 am

I don't believe there is a straight forward answer to this.

in general, any payments to a previous owner would not be counted.

But, for example, if it is lease payments for a building at market rate, you may be able to argue that it should be counted. In that case, it is not money being paid for the buying/taking over the business but it is the cost of running the business after you have bought it.

HO has tremendous discretion, so it is better to assume that it will not be counted. But if you absolutely need it to be, it is best to be upfront about it, explain it in the cover letter with your application before they ask the question.
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.

Noushad
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Re: Tier 1 Extension 200K Route

Post by Noushad » Wed Dec 15, 2021 11:28 am

Many Thanks for your reply which will definitely help me in the case.

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zimba
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Re: Tier 1 Extension 200K Route

Post by zimba » Wed Dec 15, 2021 12:18 pm

Noushad wrote:
Wed Dec 15, 2021 10:59 am
Yes the money is deposited in the business account of the previous owner.
If the money went to the previous owner then the rules pretty much disregard it as an investment. Money paid to the landlord, leaseholder, etc will count.
Advice is given based on my personal research and experience only. Do NOT contact me via private message for immigration advice

Noushad
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Re: Tier 1 Extension 200K Route

Post by Noushad » Wed Mar 02, 2022 12:24 pm

Very Respectful,

I will submitting my Tier 1 extension application. What shall be the required documents to submit with the application.

Are there any documents require for dependents also??

Thanks

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zimba
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Re: Tier 1 Extension 200K Route

Post by zimba » Wed Mar 02, 2022 3:35 pm

Advice is given based on my personal research and experience only. Do NOT contact me via private message for immigration advice

Noushad
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Re: Tier 1 Extension 200K Route

Post by Noushad » Thu Mar 03, 2022 8:45 am

Many Thanks.

Noushad
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Re: Tier 1 Extension 200K Route

Post by Noushad » Sun Mar 06, 2022 6:17 pm

Dear Respectful team

Please help me with my query as below.

As per home office and the definition of investment in guideline of 12 months period before the date of application I have few questions to ask. My leave will be expiring in 1st of week of April.

1. I had made the director loan agreement with my company in December 2020. The company was established in November 2020. The transfer of funds started in Month of May and ended in June 2021. Thus makes it only 1 month funds transfer corridor.

My question is, does the Home Office will consider my director loan agreement as an evidence of investment?

Or they will only look into my banking transactions towards my business account which is currently have a short fall of 1 month in 12 months of investment period?

Do the Home Office will look into my banking transactions of fund transfer in accordance with the director loan.

Which dates will HO will consider either the start of fund transfer or the end of fund transfer?

Many thanks..

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marcnath
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Re: Tier 1 Extension 200K Route

Post by marcnath » Mon Mar 07, 2022 3:04 pm

Noushad wrote:
Sun Mar 06, 2022 6:17 pm
Dear Respectful team

Please help me with my query as below.

As per home office and the definition of investment in guideline of 12 months period before the date of application I have few questions to ask. My leave will be expiring in 1st of week of April.

1. I had made the director loan agreement with my company in December 2020. The company was established in November 2020. The transfer of funds started in Month of May and ended in June 2021. Thus makes it only 1 month funds transfer corridor.

My question is, does the Home Office will consider my director loan agreement as an evidence of investment?

Or they will only look into my banking transactions towards my business account which is currently have a short fall of 1 month in 12 months of investment period?

Do the Home Office will look into my banking transactions of fund transfer in accordance with the director loan.

Which dates will HO will consider either the start of fund transfer or the end of fund transfer?

Many thanks..
"Before the application" in this context refers to your initial application, NOT your extension application.

You can make your investment ANYTIME during your leave grant and 12 months BEFORE the initial application.

You have no problems.
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.

Noushad
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Re: Tier 1 Extension 200K Route

Post by Noushad » Mon Mar 07, 2022 8:17 pm

Many Thanks for your reply.

It does makes a lot of difference.

Thanks again.

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