Also, did you get the visa? and if yes then what way did you apply? Did you take over the existing franchise or did you join the current franchisee and became 50% director/shareholder and then invested £200,000 in that companies accounts? Yes by the Grace of God my visa was approved and I joined a ...
Well I am going to tell the case worker that I am purchasing the business from the head office and not the owner. I had a meeting with the head office of the franchise and they have agreed for me to take over the current franchise and once I go to the UK, will be transferring the money to the head ...
Hello Just wanted to share my experience as I was in the same dilemma when I had applied for the initial application. If you say that you are buying an existing business, the CW is almost certainly going to look at how much you are paying as goodwill to the previous owners. There are many ways to ge...
For guidance please can you explain what sector you were working and what documents you had submitted with the application so that it can also help the other members on this forum.
As mentioned, it is absolutely fine the HMRC will not rAise any objections. Here we have to look from convincing the home office and keeping things as simple as possible.The op has mentioned that he is buying it for the director to use hence my post, If it is for business use and your business is su...
Generally it is absolutely fine for a business to purchase an asset in their name for the director to use. It gets tricky when we put the tier 1 ent visa in as the guildines highlighted in other posts suggest otherwise and the caseworks do most of the time have a harsh interpretation of these rules....
Hi josner...hearty congratulations on your successful application. This board is really helpful for new guys like me. Thanks for active support from all members. Need some help on 2 points, detailed below. I am planning to apply this month, with 3rd party funds. My friend (British Citizen) and who ...
Can anyone reply to my question Please. Will there be a problem if I change the accountant after 2 years of my grant of visa. The visa is for 3 years I am currently having some problems with my accountant. And I want to change him. He has done the management accounts for 2 years but wants to charge...
Hi Guys this is my first post. Today i come across the recent changes in tier 1 entrepreneur visa and i notice this. Home Office make some clarification and the point which effects me is the following. > Money used to purchase a business from a previous owner will not count as being invested into t...
Thanks Tier1Newbie Yes you are absolutely right. In my first year accounts the accountant submitted my accounts but use Directors Loan as "Long term Liabilities" which he should not as it is not liability being unsecured Loan. We have submitted accounts for 1st year, could this be the problem or ca...
Tier1newbie if you are getting your salary after tax from business account it means your company is registered for PAYE and director of a company consider as employee of the company if am not wrong. Yes, that is correct AK. so till the time you are just taking salary and working on NI, you do not n...
Many thanks, Mr Naveed, for your opinion. I'm trying find an immigration solicitor who feels the same way and take me ahead with this. Hello Raju You can actually do it yourself as well if you are not able to find a good and qualified solicitor. http://www.immigrationboards.com/uk-tier-1-entreprene...
@Tier1 Newbie According to my research you are only allowed to do business or businesses which you are investing in. Means you applied for visa with two companies and you will be investing 50k or 200k in those two companies its allowed but you can not open third company because you wont be investin...
Whatever you user for yourself should be mentioned and excluded from the investment claim as Directors loan. I also want to make sure how directors loan should be addressed as Long term liabilities(directors loan) ? Someone please input Hello Ishfaq I think the entry should be under unsecured loans...
Hello Aby Your accountant is correct and there will not be a problem during extension as the home office are never conserned when you claim less that you invest. Just mention about the 2K when you file for your extension and everything if be fine. Hi All, - I deposited 30K into my business account a...
The basis of whether you should or should not register for self employment is if you have some income during the financial year for which you have not paid any taxes. Eg. If you recieve any dividend or take out money from the company apart from the monthly salary that you are paid from the company, ...
Hello AK If you are working as employees and getting paid on the monthly payroll then there is no need to be self employed. If you are just working for your business and are not withdrawing any funds apart from the monthly pay that you get from the company then there is no need to be self employed. ...
That is absolutely fine. I thought maybe you want to claim points for the other company as well. @tier1 newbie I have already invested 50k in one company and wants to open another limited company. The second company is not to claim points which will the first one. 2nd one is to do business as well a...
Hello As you yourself mentioned you should have invested in the other company as well to claim the points. I am a bit confused here, is this someone else's company in which you are working as a director? Or is this your own company? If it is your own company then how come you have not invested any m...
Firstly the rule is to invest 200K in your business over a period of 3 years and not 5 years. Looking that you have used a lot of we i am assuming that you have applied as a team. You will need to prepare a director loan agreement between your team and the company dated before you started investing ...
The AR team is definitely more sensible than the case working team. They are senior case workers who check the case to understand if the case worker has made some mistake or omitted any steps which he should have taken and what would happen if you take them to court against their decision. But recen...
I dont think he can apply with 50K as he hasmentioned that he is on student visa. He has to go back and apply with 200 K funding. You can apply 50k route only if you can show your business was established before 11th july 2014. There are separate criteria for this route. Or you have to get fund thro...
Yes, I am both a shareholder and sole director of my company. I don't think it is possible for someone to be a sole director in a company and not be a shareholder. That said, I suspect that your friend's company may have been providing services or selling goods in a profession different from that i...
