200k route - ILR application if the company has gone into liquidation

• Applied for the Tier 1 Entrepreneur visa which was received in May 2019 and entered UK a week later (June 2019).

• Investment of £200k made and registered as a company director of a Private company in June 2019.

• Extension application went in July 2022 and we're still waiting for the outcome

• You have to have made the investment of £200k into a UK business

• You have to be registered as a director of a business in the last 3m before the application for ILR is made.

• On this point, my father will be a director - but of a separate company that we had to setup to create the 2 jobs in. The original company could not create the jobs and we took it upon ourselves to fulfill this requirement.

OttoMattik wrote: ↑

Thu Aug 25, 2022 2:25 pm

Posting on behalf of my parents

• Applied for the Tier 1 Entrepreneur visa which was received in May 2019 and entered UK a week later (June 2019).

• Investment of £200k made and registered as a company director of a Private company in June 2019.

• Extension application went in July 2022 and we're still waiting for the outcome

However, company has been significantly impacted due to COVID and was experiencing problems with liquidity. A month after the application, we've come to a point where the company has run out of funds and will be going into a pre-pack administration. One of the employees will be purchasing it for a nominal amount, wiping away our investment and that of the chairman/CEO as well.

Question is what impact this will have on our ILR application at the end of 5 years. I have checked the forms for ILR and they say:

• You have to have made the investment of £200k into a UK business

• You have to be registered as a director of a business in the last 3m before the application for ILR is made.

• On this point, my father will be a director - but of a separate company that we had to setup to create the 2 jobs in. The original company could not create the jobs and we took it upon ourselves to fulfill this requirement.

Given that the investment was made, but does not exist anymore due to liquidation - will this go against his ILR application?

OttoMattik wrote: ↑

Thu Aug 25, 2022 4:27 pm

Thanks for the quick reply. Yes, the other business he setup himself is a genuine business and trades, employs 2 full time people (initially done to meet the requirement).

Just wanted to get some clarity on whether the investment of £200k needed to be evidenced again at the time of ILR, and whether the Home Office expected the original business in which the investment was done to be solvent as well.