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by marcnath
Mon Jun 15, 2020 6:29 pm
Forum: UK Tier 1 (Entrepreneur) visas
Topic: Director's Loan agreement and Fund transfer
Replies: 249
Views: 13453

Re: Investment prove and Early FPS to HMRC

1st: you don't need accounts for your ILR 2nd: you can do that Thanks marcnath for your reply, it's much appreciated, 1st: I assume the company accounts is required to show the investment clearly stated, as a prove of investment, isn't it? Does a Management account for all the three years highlight...
by marcnath
Fri Jun 12, 2020 6:32 pm
Forum: UK Tier 1 (Entrepreneur) visas
Topic: T1 200K Extension and Dependent.
Replies: 10
Views: 381

Re: T1 200K Extension and Dependent.

You are allowed to combine as many accounts as you want to show maintenance funds. There is no requirement that it has to be all in the same account or even the same bank.
by marcnath
Fri Jun 12, 2020 6:30 pm
Forum: UK Tier 1 (Entrepreneur) visas
Topic: Tier 1 Enquiry
Replies: 217
Views: 11750

Re: Tier 1 Enquiry

Hi Marcnath Thank you so much for enlightening Regarding the last point, can i use investment funds to pay to company outside uk to build our website and software since it’s more cheaper ?? What make you think HO is regulating what and how a business spends its money? (other than what is explicitly...
by marcnath
Fri Jun 12, 2020 6:27 pm
Forum: UK Tier 1 (Entrepreneur) visas
Topic: Director's Loan agreement and Fund transfer
Replies: 249
Views: 13453

Re: Director's Loan agreement and Fund transfer

1st: you don't need accounts for your ILR

2nd: you can do that
by marcnath
Tue Jun 09, 2020 1:04 pm
Forum: UK Tier 1 (Entrepreneur) visas
Topic: T1 200K Extension and Dependent.
Replies: 10
Views: 381

Re: T1 200K Extension and Dependent.

Unfortunately this seems to be quite a standard HO practice. Main applicant is given 3 years and 4 months and the dependant 3 years. I faced the same and was indeed very lucky to have spotted it only because my dependant's passport was up for renewal and this was pointed out by my embassy. The only ...
by marcnath
Tue Jun 09, 2020 12:17 pm
Forum: UK Tier 1 (Entrepreneur) visas
Topic: Tier 1 Enquiry
Replies: 217
Views: 11750

Re: Tier 1 Enquiry

please assist with below enquiry Dear Mods and Experts, Hope all being well and safe, I have around 7,000 GBP cash in hand in UK, can i deposit it to my saving account and transer it along with 193K to sum up to 200K as invested since I dont have a proof of transaction for that 7K cash in hand , is...
by marcnath
Mon Jun 08, 2020 3:41 pm
Forum: UK Tier 1 (Entrepreneur) visas
Topic: Investment route for T1E
Replies: 4
Views: 233

Re: Investment route for T1E

Thank you. Clear Considering my wife is the sole director and shareholder, is there any point of a loan agreement between her and the business? It sounds like this could then be managed by simply issuing additional shares at a premium, considering no change in ownership. Also, are there any potenti...
by marcnath
Mon Jun 08, 2020 10:46 am
Forum: UK Tier 1 (Entrepreneur) visas
Topic: Investment route for T1E
Replies: 4
Views: 233

Re: Investment route for T1E

Dear Gurus My wife is a T1E visa-holder, and has opened a LLC. I am the main investor (we had informed UKVI of this at time of Visa application), but not a shareholder or director in the business. Her accountant has advised that the fund infusion into the business account should be recorded via sha...
by marcnath
Fri Jun 05, 2020 12:07 pm
Forum: UK Tier 1 (Entrepreneur) visas
Topic: T1 extension investment query
Replies: 2
Views: 222

Re: T1 extension investment query

Hi, I am going to apply for T1 extension 200k soon. I have query about investment. I had bought a Van for business. Initially it was on lease and it was approved on my personal account. I have paid monthly payments for 9 months from my personal account. In the 10 month i bought the Van and paid it ...
by marcnath
Sun May 31, 2020 8:08 pm
Forum: UK Tier 1 (Entrepreneur) visas
Topic: How much maintenance fund required?
Replies: 8
Views: 314

Re: Old passport lost

Hi @Zimba, do you mean there is no need to provide previous passports in the application for Tier 1 Entrepreneur visa extension, even though the current passport was only issued last year? No, the application form is pretty clear that you need to provide all previous passports, but it also has the ...
by marcnath
Sun May 31, 2020 7:32 am
Forum: UK Tier 1 (Entrepreneur) visas
Topic: T1E200k Extension Delay due to COVID-19
Replies: 17
Views: 596

Re: Investment Eligibility

It is not possible to answer this without knowing about your business. Has the business been generating revenue ? When has the revenue been generated? and so on. the business has been generating revenue from month 1 and have continued to do so every month since then. As long as your salary+ car cos...
by marcnath
Sat May 30, 2020 8:52 am
Forum: UK Tier 1 (Entrepreneur) visas
Topic: T1E200k Extension Delay due to COVID-19
Replies: 17
Views: 596

Re: Investment Eligibility

What do you mean by"acceptable" expense? There is no such thing under immigration rules. say I have invested 220k till now and have taken out 25k as Director's Salary and bought a 20k EV car, would HO still consider me to have invested 220k OR would they consider it as 175k? It is not possible to a...
by marcnath
Fri May 29, 2020 9:51 pm
Forum: UK Tier 1 (Entrepreneur) visas
Topic: T1E200k Extension Delay due to COVID-19
Replies: 17
Views: 596

Re: Investment Eligibility

What do you mean by"acceptable" expense? There is no such thing under immigration rules.
by marcnath
Fri May 22, 2020 2:38 pm
Forum: UK Tier 1 (Entrepreneur) visas
Topic: Tier 1 (ENT) ILR job requirement changes
Replies: 6
Views: 444

Re: Tier 1 (ENT) ILR job requirement changes

Hi, My 5 year period for ILR would be completed in AUG 2020. But due to Covid-19 I had to furlough my employees. I have recently learned that the requirement for the two people employed for 12 consecutive months has recently been updated. As it is stated that The 12 month period you are required to...
by marcnath
Thu May 21, 2020 7:41 pm
Forum: UK Tier 1 (Entrepreneur) visas
Topic: Director's Loan agreement and Fund transfer
Replies: 249
Views: 13453

Re: Director's Loan agreement and Fund transfer

There is nothing to add here. Additional documents are entirely up to you and your suggestion is as good as any I can think of.
by marcnath
Wed May 20, 2020 12:51 pm
Forum: UK Tier 1 (Entrepreneur) visas
Topic: "NEW" TIER 1 UK entrepreneur £50000 GBP
Replies: 28
Views: 1910

Re: "NEW" TIER 1 UK entrepreneur £50000 GBP

1) The HO has not accepted the new document. They only agreed to reconsider.
2) Does not matter. Check the wording, it is doubtful that there is rock solid commitment of 6 months.
3) No one can say
4) No idea
5) No
by marcnath
Fri May 15, 2020 8:39 pm
Forum: UK Tier 1 (Entrepreneur) visas
Topic: Nature of Business under Tier-1 Enterprenure visa
Replies: 21
Views: 843

Re: Nature of Business under Tier-1 Enterprenure visa

Thanks marcnath for your honest and kind advise. Here I have one confusion, like which company to buy the share (to avoid individual to buy) like my original company which I had open on my arrival or the new company which I planned to buy with 50% share? Can I pay from the business account of my or...
by marcnath
Fri May 15, 2020 8:32 pm
Forum: UK Tier 1 (Entrepreneur) visas
Topic: PBS Dependent Extension
Replies: 6
Views: 207

Re: PBS Dependent Extension

We get the options - Tier 1 Entrepreneur (Initial) 3 years - Tier 1 Entrepreneur (extension) 2 years And before these options even show up, we need to provide the date of expiry of the current visa. You suggested providing a date 3 years ahead as the date of expiry of visa, instead of the actual da...
by marcnath
Fri May 15, 2020 8:30 pm
Forum: UK Tier 1 (Entrepreneur) visas
Topic: Director's Loan agreement and Fund transfer
Replies: 249
Views: 13453

Re: Job creation

Hi Team, I'm currently holding Tier 1 Entrepreneur visa since Jan 2018, and I'm looking forward to apply for accelerated ILR (3 years route) in Dec 2020, I will be able to count by the end of 2020 10 FT jobs, I have 8 positions straightforward, but I have inquiries with regards to two positions. Q1...
by marcnath
Fri May 15, 2020 4:00 pm
Forum: UK Tier 1 (Entrepreneur) visas
Topic: Buying a new business in the extension stage of £50k Tier 1 Entrepreneur route
Replies: 71
Views: 2826

Re: Buying a new business in the extension stage of £50k Tier 1 Entrepreneur route

Hello, Me again! To answer the question back in April, yes it is my own assumption and opinion, based on the fact that the company was loss making ( sales weren't enough to cover costs) and now all sales channels have dried up but business is still open and staff on payroll, therefore, more costs, ...
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