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Conundrum

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

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EL CHOLO CARAYOL
Newly Registered
Posts: 22
Joined: Mon Sep 30, 2013 6:58 am

Conundrum

Post by EL CHOLO CARAYOL » Sat Nov 30, 2013 4:56 am

Hi,

Could anyone enlighten me on the following situation:

Person X is on Tier 4 in UK with visa ending in June 2016.

Person X wants to switch to T 1, has £50 K from VC.

Person X wants to form entrepreneurial team with Person Y.

Person Y is on Tier 5 with visa finishing in Nov 2015.

Assuming Person Y cannot switch to Tier 2, Person Y will have to go back to home country to seek to apply for Tier 1.

So my question is the following:

Can Person X and Y apply for T 1 together as an entrepreneurial team in this situation in Nov 2015?

The obvious problems are:

Can Person X switch from T 4 to T1 in Nov 2015 when T4 visa is expiring in June 2016?

Can Person X switching inside the Uk form entrepreneurial team with Person Y applying from outside the UK?







:shock: :?

Mr Legal
Member
Posts: 175
Joined: Wed Mar 06, 2013 2:19 am
Location: Scotland

Re: Conundrum

Post by Mr Legal » Sat Nov 30, 2013 8:50 am

EL CHOLO CARAYOL wrote:Hi,

Could anyone enlighten me on the following situation:

Person X is on Tier 4 in UK with visa ending in June 2016.

Person X wants to switch to T 1, has £50 K from VC.

Person X wants to form entrepreneurial team with Person Y.

Person Y is on Tier 5 with visa finishing in Nov 2015.

Assuming Person Y cannot switch to Tier 2, Person Y will have to go back to home country to seek to apply for Tier 1.

So my question is the following:

Can Person X and Y apply for T 1 together as an entrepreneurial team in this situation in Nov 2015?

The obvious problems are:

Can Person X switch from T 4 to T1 in Nov 2015 when T4 visa is expiring in June 2016?

Can Person X switching inside the Uk form entrepreneurial team with Person Y applying from outside the UK?







:shock: :?

To keep aside your rest of questions,just consider your first course of action that is you wish to switch from teir 4 to entrepreneur investing 50k.
No you cannot switch from student to entrepreneur with 50k investment.you need to arrange 200k.
Experience and understanding can get you to the goal.Every information based on my own experience is friendly shared in goodfaith.

Lucapooka
Respected Guru
Posts: 7616
Joined: Sun Aug 14, 2011 9:30 am
Location: Brasil

Post by Lucapooka » Sat Nov 30, 2013 8:54 am

He has previously stated that his seed capital is coming from VC. One must assume he knows the conditions for VC applications and is able to meet those.

BlackBirdSSG
Member of Standing
Posts: 264
Joined: Mon Feb 25, 2013 5:28 pm

Post by BlackBirdSSG » Mon Dec 02, 2013 5:03 pm

Lets see what the law says:

Code: Select all

If you are in the UK with permission to stay as:
- a Tier 4 migrant
- a Student nurse
- a Student
- a Student writing up a thesis
- a Student re-sitting an examination
- a Postgraduate Doctor or Dentist

you are allowed to make an initial application in the UK (including switching from one immigration category to another) only if you have specific types of funding. You must have access to £50,000 or more from: 

i) one or more registered venture capital firms regulated by the Financial Conduct Authority (FCA);
ii) one or more UK entrepreneurial seed funding competitions which is listed as endorsed on the UK Trade & Investment (UKTI) website; or
iii) one or more UK Government Departments or Devolved Government Departments in Scotland, Wales or Northern Ireland, which is made available by the Department(s) for the specific purpose of establishing or expanding a UK business.
So, if you are getting funded by VC (provided you have fulfilled all of their requirements), you can apply as of NOW.

& Yes, if the immigration laws and situation remains same, you can apply as a team member with anyone who is on a points based system (or on prospective entrepreneur) in the next 2 years too (however, it's highly unlikely)

Olasunkanmi
Diamond Member
Posts: 1324
Joined: Sat Aug 17, 2013 10:28 pm
Location: London, UK.

Re: Conundrum

Post by Olasunkanmi » Mon Dec 02, 2013 5:38 pm

@ EL CHOLO CARAYOL,

Assuming the rules for Tier 1 entrepreneur doesn't change by the time they will be applying, they can both apply as entrepreneur team with 50k funding from VC as long as both of them have their names on the letter from VC. They can also apply from anywhere or one in UK and another abroad.
The key to success is knowledge and hardwork, and to have faith.

EL CHOLO CARAYOL
Newly Registered
Posts: 22
Joined: Mon Sep 30, 2013 6:58 am

thanks

Post by EL CHOLO CARAYOL » Thu Dec 05, 2013 2:26 pm

Thanks for the reply guys, much appreciated as always.

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