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ILR & proof of investment funds

Only for UK Tier 1 (Entrepreneur) points system

Moderators: Casa, JAJ, ca.funke, Amber, Zimba, vinny, Obie, EUsmileWEallsmile, batleykhan, geriatrix, John, ChetanOjha, archigabe, push

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MrQuestion
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Joined: Thu Dec 03, 2020 4:21 pm

Clarification in T1E guidance

Post by MrQuestion » Fri May 14, 2021 11:49 am

Hello all,

I note in the current guidance, on the very first page, the following reference:

7) Applicants who hold leave as a Tier 1 (Entrepreneur) and have had their businesses disrupted as a
result of the Coronavirus (COVID-19) pandemic, no longer need to employ at least 2 people for 12
months in order to qualify for an extension. The 12 month period empoyment requirement can be
made up of multiple jobs across different months, but must be the equivalent to 2 full time jobs when
combined.

Question - they use the phrase, "...in order to qualify for extension". What about ILR? Just wondering if this is deliberate use of the word extension, or if this clause applies to all further applications. In my case, I'll be relying on this for ILR as my business has certainly been disrupted as a result of COVID.

Any help would be appreciated.

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Zimba
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Re: Clarification in T1E guidance

Post by Zimba » Fri May 14, 2021 12:41 pm

Applies to ILR too
Advice is given based on my personal research and experience only. Do NOT contact me via private message for immigration advice

MrQuestion
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Joined: Thu Dec 03, 2020 4:21 pm

Re: Clarification in T1E guidance

Post by MrQuestion » Sat May 15, 2021 3:50 pm

Thanks for confirming, Zimba.

MrQuestion
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Joined: Thu Dec 03, 2020 4:21 pm

ILR & proof of investment funds

Post by MrQuestion » Sat May 22, 2021 11:14 am

Hello everyone. I've got a quick question/clarification on investment funds as they relate to ILR applications.

The guidance seems clear that proof of investment isn't required for ILR given that it was provided during extension:

'You do not need to provide evidence of this investment if you were awarded
points under this table in your last grant of entry clearance or leave to remain
as a Tier 1 (Entrepreneur) migrant'


If the funds won't be scrutinized again... can we repurpose those funds if required? Put more bluntly, can we take funds out of the company / repay director loans? If not, why? Do they still formulate part of the genuine entrepreneur test in some way?

Thanks for any assistance!

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Zimba
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Re: ILR & proof of investment funds

Post by Zimba » Sun May 23, 2021 12:41 am

You must maintain the investment until you get ILR
Advice is given based on my personal research and experience only. Do NOT contact me via private message for immigration advice

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