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Company status change during extension application

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

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Lusokeung
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Joined: Sun Dec 17, 2017 2:24 pm
Australia

Company status change during extension application

Post by Lusokeung » Thu Jun 06, 2019 1:48 pm

Hi

My T1E extension application has been submitted a month ago. I’m waiting for the result. Invested company is now in debts issue and may proceed liquidation shortly. Please advise if it will affect my extension application result or not. Do I need to set up a new company or invest in a new company right now? If so, it is definitely in a rush.

Appreciate for your prompt response. Thank you.

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marcnath
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Location: Milton Keynes

Re: Company status change during extension application

Post by marcnath » Thu Jun 06, 2019 8:51 pm

Lusokeung wrote:
Thu Jun 06, 2019 1:48 pm
Hi

My T1E extension application has been submitted a month ago. I’m waiting for the result. Invested company is now in debts issue and may proceed liquidation shortly. Please advise if it will affect my extension application result or not. Do I need to set up a new company or invest in a new company right now? If so, it is definitely in a rush.

Appreciate for your prompt response. Thank you.
On its own, it is not a disqualification for your extension application.

You don't have to set up a new company but register yourself as self employed at least.
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.

Lusokeung
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Posts: 24
Joined: Sun Dec 17, 2017 2:24 pm
Australia

Re: Company status change during extension application

Post by Lusokeung » Thu Jun 06, 2019 9:39 pm

Thank you Marcnath.

Just in case my T1E ext application being refused, I need to re-submit the application, do I need to show company status? If previous company is in liquidation while new one hasn’t set up yet, do you mean I just show I am self-employed which is good enough? I will check the procedure and register for self-employ to play safe.

We are now finding the way out and hope the liquidation will not happen.

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Frontier Mole
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Re: Company status change during extension application

Post by Frontier Mole » Thu Jun 06, 2019 10:23 pm

Why or what has lead to the possible liquidation? If it due to non-payment of tax or similar problems then there is a possibility there could be an impact on your extension.

Lusokeung
Newly Registered
Posts: 24
Joined: Sun Dec 17, 2017 2:24 pm
Australia

Re: Company status change during extension application

Post by Lusokeung » Fri Jun 07, 2019 5:38 am

Hi

No, nothing related to HMRC or govt, these are all settled. It is trade creditor.

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marcnath
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Location: Milton Keynes

Re: Company status change during extension application

Post by marcnath » Fri Jun 07, 2019 9:27 am

Lusokeung wrote:
Thu Jun 06, 2019 9:39 pm
Thank you Marcnath.

Just in case my T1E ext application being refused, I need to re-submit the application, do I need to show company status? If previous company is in liquidation while new one hasn’t set up yet, do you mean I just show I am self-employed which is good enough? I will check the procedure and register for self-employ to play safe.

We are now finding the way out and hope the liquidation will not happen.
The requirement is that you should be a Director of a company or Registered as self employed with HMRC at the time of the extension application.

Obviously, for the genuineness test, it is best to remain one of those throughout, for example at interview time.

If you are making a new application, you definitely need to be having one of those at the time of new application.
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.

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Frontier Mole
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Posts: 4348
Joined: Mon May 05, 2008 11:03 pm

Re: Company status change during extension application

Post by Frontier Mole » Sat Jun 08, 2019 7:49 am

Has your directors loan been repaid to you as a precursor to the possible liquidation?

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