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PSW to Entreprenur new policy after 6 of April

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

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luqmanzaheer
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Post by luqmanzaheer » Sat May 05, 2012 10:50 am

i AM DIRECTOR OF A PLC WITH ONE OTHER PARTNER BOTH OF US HOLDS 50% OF SHARES I MADE INVESTMENT ON MY OWN NAME £10000 AND ALSO SHOWN IN MANAGEMENT ACCOUNTS AND REST OF £40000 AMOUNT IS IN MY PERSONAL ACCOUNT I JUST WANT TO KNOW EITHER THIS WORK FINE FOR ME BECAUSE company structure IS PLC LIMITED BY SHARES IS IN THIS INVESTMENT £10000 OTHER PARTNER ALSO HAVE A PART HE IS READY TO GIVE ME DECLARATION THAT THIS INVESTMENT MADE BY U AND I HAVE NO PART IN THIS. WHAT U SAY I NEED THIS DECLARATION OR EVERY THIS IS FINE BECAUSE INVESTMENT IS ALREADY ON MY NAME ?

Pialroy
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Post by Pialroy » Sat May 05, 2012 3:20 pm

Just one suggestion if that investment on your name and it is accounted through any audit company or any authorized accountant, then you can show that with submitted account to hmrevenue as a proof. and if it is Unaudited then you need some additional certificate. Declaration from your friend will not count because they need proof from HM revenue. and if it is not accounted yet to HM revenue, then you can do half yearly accounts through any reputed accountant and get notarized and give a cover letter that accounts is not submited yet to HM revenue but it is our half yearly accounts accounted by XXXX and notarized by YYYY..something you can do.
(You must provide all the appropriate specified documents needed to establish the amount you have already invested from the following list.
i) Audited accounts
Registered companies that are required to produce audited accounts must do so. For information on who needs to produce these accounts please refer to the Companies House website on http://www.companieshouse.gov.uk/about/ ... gba3.shtml
ii) Unaudited accounts and an accountant’s certificate of confirmation
Businesses that are not required to produce audited accounts must provide unaudited accounts, sometimes called management accounts, together with a certificate of confirmation from a suitably regulated accountant (see below).

Audited or unaudited accounts must show the investment in money made directly by you, in your own name. If you have invested by way of share capital the business accounts must show the shareholders, the amount and value of the shares (on the date of purchase) in your name as it appears on your application. If the value of your share capital is not shown in the accounts, then share certificates should be submitted as documentary evidence. The accounts should clearly show the name of the accountant and the date the accounts were produced. The accountant must be a member of a recognised UK supervisory body (see glossary); if not, we will not accept this evidence. The accounts must show how much you have
invested in the business.)

and regarding PLC as I know there is no problem with that, because it is still a limited company. and you are officially appointed director, Note you need proof from Company house. hope that will help.

luqmanzaheer wrote:i AM DIRECTOR OF A PLC WITH ONE OTHER PARTNER BOTH OF US HOLDS 50% OF SHARES I MADE INVESTMENT ON MY OWN NAME £10000 AND ALSO SHOWN IN MANAGEMENT ACCOUNTS AND REST OF £40000 AMOUNT IS IN MY PERSONAL ACCOUNT I JUST WANT TO KNOW EITHER THIS WORK FINE FOR ME BECAUSE company structure IS PLC LIMITED BY SHARES IS IN THIS INVESTMENT £10000 OTHER PARTNER ALSO HAVE A PART HE IS READY TO GIVE ME DECLARATION THAT THIS INVESTMENT MADE BY U AND I HAVE NO PART IN THIS. WHAT U SAY I NEED THIS DECLARATION OR EVERY THIS IS FINE BECAUSE INVESTMENT IS ALREADY ON MY NAME ?

Pialroy
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Post by Pialroy » Sat May 05, 2012 3:30 pm

Regarding money into Business bank account,
first of all you need to know one thing if it is limited company and you are the one of the director then you are not allowed to put any money into your business bank account without a accounting term. either it has to be a investment or has to be a loan to company. as per HM revenue any money come into your business account or goes out from that account it has to be accounted.
so from my point of view if you are planning to show that money is ready for investment then you are allowed to show that money in your business bank account without investment as per HM revenue logic. if you do that then you need to show audited accounts or unaudited account please see the guideline for more details how to show that money already invested.
So finally if money is not invested yet then you need to show them in your personal account, or third party with additional documents.
and if you are self employed then different scenario. hope this will help you to do more analysis.

saeedusman wrote:
Mag8891 wrote:
saeedusman wrote:

Are you sure about that? if it is in company bank account it means it has been invested in some way.

I thought just the applicants account would work the same if the avaliable funds would be at third parties bank account?
If I just open a company account and put some money in that, it means that company have this much funds in account which can be invested later on. You can also keep funds in your own account and show them. You can also use third party funding as mentioned in guideline but must need to complete all the relevant documentation. Simple, better and straightway fulfillment of the requirement will be to keep everything in your own name.

luqmanzaheer
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Post by luqmanzaheer » Sat May 05, 2012 5:54 pm

Thanks pyal so about u i just need accountent certificate and management account to show the investment i made our anual accounts are due in dec 2012 so in this case i need management accounts to show no matter we are running plc limited by shares investement on my name seems enought to show without partner decaration am i right

Pialroy
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Post by Pialroy » Sat May 05, 2012 6:48 pm

First of all I am not an immigration expert neither a lawyer, just trying to share my understanding here in this forum. and I am one of you trying to get information and planning for my application, hope I will apply june.

Remember few things.
1. what ever you do it has to reflect with your other documents, for instance, you are planning to show that you are invested 10k already then the date of investment as per the accounts and how you invested that money direct cash investment, or cheque deposit then your bank statement need to reflect with your accounts.
2. As per my understanding is they (UKBA) divided business category in 2 part, one is self employed and another is limited company (PLC, LLC, LLP, Corporation etc.), so if you are not self employed then you are in the 2nd category which is limited company. now when you form that company you mentioned that you are the 50% share holder, and also mention share values.
now what happen on your case you invested 10K additional recently as a further capital investment. but your friend hasent invested anything further. so in that case either you are buying shares from the company or providing loan to company. or anything logical things. you cannot show that you invested 10k without mentioning any legal reason.
don't think it is a simple thing, so what I am suggesting you to do more analysis, and consult with 3 different specialist before applying for this category. and DONT relay on any immigration lawyer.
1. Business developer with business formation and business law knowledge person.
2. A good accountant who have time to discuss with you and help you to explain all the question you have.
3. Investor immigration consultant, lawyer.
Before all this do some research and then try to figure out all your questions and then talk with those three department, hope that will help.


luqmanzaheer wrote:Thanks pyal so about u i just need accountent certificate and management account to show the investment i made our anual accounts are due in dec 2012 so in this case i need management accounts to show no matter we are running plc limited by shares investement on my name seems enought to show without partner decaration am i right

luqmanzaheer
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Post by luqmanzaheer » Sat May 05, 2012 7:54 pm

Thanks for u reply i am
Last edited by luqmanzaheer on Sun May 06, 2012 1:32 am, edited 1 time in total.

Pialroy
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Post by Pialroy » Sat May 05, 2012 11:23 pm

If you want my suggestion don't follow this route, as I can see that your accountant is not proficient enough. although there is nothing in your company account still there is lots of things. as if you have a bit knowledge about accounting you will understand, you can do your monthly accounts quarterly accounts, where you can mention what is
1. start-up capital (24/11/2011)====XXXXX.
2. revenue====xxx
3. cost of good sold===xxx
4. other expenses(salary, miscellaneous)===xxx
5. salary deduction ====xxxx
6. new investment injection by share sale (02/04/2012) by cash at bank==10K remember your business statement has to reflect that on that time there was a deposit by you. otherwise that could be a problem.
the whole financial statement properly. please read HM requirements for taxation for more information.
if you want my suggestion then if you have 40K at your bank try to manage more 10k cash and you can show the whole figure without that accounting things that will be more straight forward.
or discuss with appropriate department and make your documents 100% authentic otherwise you can ruined your life.
luqmanzaheer wrote:Thanks for u reply i am going to explain u whole situation company incorporation date is 24/11/2011 all the company returns and accounts are due in december 2012 asi discused with my accountent he told me that at the time of company formation company share value seems to b nothing when business work out returns submitted then possible figure comes out what company actualy hold. My director apointment date is 02/04/2012 and at the same time my other partner gave me share certificate of 50%. After that i made 10000 pound investment which is on my name and accountent mention this in management accounts so in this case i hold 10000 pound investment and 40000 pound in personal a/c. What u say am i right. Or i need to workout other way

SONITA
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Post by SONITA » Sun May 06, 2012 5:51 pm

no i thing pial is on wrong way i think luqman did not talk about un audited accounts he just point out the company formation stage and he said right like he said his visa is going expire in 19 july 2012 so it means accounts need to b prepare in jun or july 2012 it means all the accounting figure should be there like
> start up capital
> sales

> expenditures
> salary
> etc

so what i understand they form company in 24/11/2012 accounts are due in dec 2012 but he can make management account for case with accountant certificate and a/c it self describe all the business activities and share value. i thing luqman is on track what u say pial

Pialroy
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Post by Pialroy » Sun May 06, 2012 9:22 pm

Neither me, I want talking about audited accounts, as I said or guideline said, you have to provide audited or un audited accounts (if your company is have that right for un un audited accounts), and there is another if, if you have already submited your accounts to company house and Hm revenue then you can use the same official one which is approved by hm revenue and or company house.

now for the case of "luqmanzaheer", as he said his company is formed on 24/11/2011 and becuase of his first year he will get extra 6 month after his accounts made up date his account made up date is normally 24/11/2012 but as a new company he will get extar 6 month only for this time, till 24/05/2013.
so he is not forced to submit his account to hm revenue or to company house, becuase still he got time.
Here is come his situation forget about hm revenue or company house, what UKBA asked for if you have already invested any amount of money within last 1 year then you can show that money as already been invested. and "luqmanzaheer" want to show that he has already invested 10K then now come to the point how he will prove that he has already invested that 10K? as per UK requirements you have to provide them an official accounts and which is done by a recognized or authorized accountant. and that account have to reflect few things amount, director/ investor name/ and where is that moeny?
and if he follow that route, then there is some other additional things come with this route, remember that as you said you have already invested money through that official accounts, then where is the money? need to give them a bank statement which will need to reflect that money came in the bank?
then another thing, well you showed them "luqmanzaheer", invested money, but HOW? by share? or loan by a director? obviously loan is not accepted by UKBA then by share or any other method, then you have to provide them a reflection from company house documents, thta "luqmanzaheer", invested and further by buying additional share.
"SONITA"
as per my understand is "luqmanzaheer" is not asking about company formation he asked whether he can use that company because if PLC my answer was yes.
2nd things was he had already invested 10K, whether he will be able to show that ammount which he had invested already, my answer was yes, but if it was invested properly with proper documents.
from my understand I was trying to share what documents he might need and how they need to reflect.
for your kind information "luqmanzaheer" company formation date was 24/11/2011, please have a look into my last msg quote for further details.
hope that will help him and others to do more depth analysis, as I have already inform that I am in same track and running my company successfully from last 2 years and but still I am not showing my previous investment only showing 50K in personal bank account, as this money is ready for investment, and will be invested later on. this is what I am doing. anyway nice to have chance to share something with you guys. will pray for your successful application.
final sugestion,
1. do more analysis.
2. hire or discuss with an efficient accountant.
3. hire or discuss with an efficient business developer to understand business laws here in uk.
4. hire or discuss with an expert investor immigration lawyer.


SONITA wrote:no i thing pial is on wrong way i think luqman did not talk about un audited accounts he just point out the company formation stage and he said right like he said his visa is going expire in 19 july 2012 so it means accounts need to b prepare in jun or july 2012 it means all the accounting figure should be there like
> start up capital
> sales

> expenditures
> salary
> etc

so what i understand they form company in 24/11/2012 accounts are due in dec 2012 but he can make management account for case with accountant certificate and a/c it self describe all the business activities and share value. i thing luqman is on track what u say pial

SONITA
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Post by SONITA » Sun May 06, 2012 10:08 pm

pial i know you have knowledge about this route i believe showing some sum already invested worth more then having 50000K in account because it shows you are active in business and its develop the credit-ability of applicant. i suggest if u have evidence of the investment you made this will work more positive way then having all sum in account because this reflects you just show this sum for getting visa. what you say? am just telling you what i understand. I am professional immigration layer. i suggest to luqman if you have invested 10K already then prepare evidence of that and then show in management accounts and i also suggest to get declaration letter from your other partner too that he has no contribution in your investment (10000K). I hope this way work in good way. (as i read in guidance if you already invested some part of you investment then show this with evidence in management account if applicable)

Pialroy
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Post by Pialroy » Sun May 06, 2012 10:59 pm

well good to hear that you are a lwyer, and oviously you have had better experience than me,
I agree if you can show that if have already invested some money that will be good but need proper documentation as I said earlier.
and regarding my scenario, I had that investment at the beginning so if I show that will not affect my application for calming point. as we all know that is PBS system, but yes I will show my business proposition, because My business did well last 2 years 1.3 and 0.8m turn over, and contributed tax as well on the basis of PAYE. so obviously I will show that, but not for calming points, because of making this case strength bit stronger.
why I suggest "luqmanzaheer" for straight forward application rather than showing that amount 10K to claim point, because as per my understanding is he is not well organized with documentation which can ruined his application because on that basis he is going to claim point, if they dis agree with any documents which is not appropriate or in right order then then can refuse that point for fund. if he can organized all the documents in right order then well it will be good if he show that already invested money into the business.
just sharing some personal analysis, after discussing with three major knowledgeable department, but still I am nto an expert or lawyer.
hope that will give more questions for all others, please play with your question and find the answers before applying for this category.


SONITA wrote:pial i know you have knowledge about this route i believe showing some sum already invested worth more then having 50000K in account because it shows you are active in business and its develop the credit-ability of applicant. i suggest if u have evidence of the investment you made this will work more positive way then having all sum in account because this reflects you just show this sum for getting visa. what you say? am just telling you what i understand. I am professional immigration layer. i suggest to luqman if you have invested 10K already then prepare evidence of that and then show in management accounts and i also suggest to get declaration letter from your other partner too that he has no contribution in your investment (10000K). I hope this way work in good way. (as i read in guidance if you already invested some part of you investment then show this with evidence in management account if applicable)

Pialroy
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Post by Pialroy » Sun May 06, 2012 11:19 pm

sorry I forgot to mention 2 important things.
1. letter from partner it is not an authentic documents, that will not help to claim point. and my understanding is don't give un-usual documents. to prove that fund there is lots of other authentic document source you have, company house report, management accounts authorized, hm revenue report, etc.

2. yes "luqmanzaheer", he is in right track but need to organized documents in right order, all the documents need to reflect with each other.
3. yes he should shows his business activity to be in strong position, but what I was trying to tell him dont claim point for that 10K deposit more 10k in personal account and claim that point on that basis rather than already invested money, he can show his business activity in diffferent way. this is my suggestion.
SONITA wrote:no i thing pial is on wrong way i think luqman did not talk about un audited accounts he just point out the company formation stage and he said right like he said his visa is going expire in 19 july 2012 so it means accounts need to b prepare in jun or july 2012 it means all the accounting figure should be there like
> start up capital
> sales

> expenditures
> salary
> etc

so what i understand they form company in 24/11/2012 accounts are due in dec 2012 but he can make management account for case with accountant certificate and a/c it self describe all the business activities and share value. i thing luqman is on track what u say pial

luqmanzaheer
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Posts: 78
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Location: bradford
Contact:

Post by luqmanzaheer » Sun May 06, 2012 11:28 pm

thanks both of you for suggesting me right things pial i made investment from my business a/c to other invested company a/c and i have bank statement, agreement letter and receipt of that investment. my accountant is going to show investment in management a/c and according to accountant and layer these evidences is enough to prove the investment. what u both say on this either i need any kind of other documentation on this and further more pial how can i show my business activity other way plz let me know thanks waiting for your response?

Pialroy wrote:sorry I forgot to mention 2 important things.
1. letter from partner it is not an authentic documents, that will not help to claim point. and my understanding is don't give un-usual documents. to prove that fund there is lots of other authentic document source you have, company house report, management accounts authorized, hm revenue report, etc.

2. yes "luqmanzaheer", he is in right track but need to organized documents in right order, all the documents need to reflect with each other.
3. yes he should shows his business activity to be in strong position, but what I was trying to tell him dont claim point for that 10K deposit more 10k in personal account and claim that point on that basis rather than already invested money, he can show his business activity in diffferent way. this is my suggestion.
SONITA wrote:no i thing pial is on wrong way i think luqman did not talk about un audited accounts he just point out the company formation stage and he said right like he said his visa is going expire in 19 july 2012 so it means accounts need to b prepare in jun or july 2012 it means all the accounting figure should be there like
> start up capital
> sales

> expenditures
> salary
> etc

so what i understand they form company in 24/11/2012 accounts are due in dec 2012 but he can make management account for case with accountant certificate and a/c it self describe all the business activities and share value. i thing luqman is on track what u say pial

SONITA
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Post by SONITA » Sun May 06, 2012 11:30 pm

ya this is good what you say pial oh ya further more pial what kind of hmrv documentation luqman need i seen you mentioned this on several places. I think luqman's company is plc and all the accounts are due later the application then what kind of documents i don't understand please share this as well might be some one will benefit of this.

Pialroy
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Joined: Sat Apr 07, 2012 1:17 am

Post by Pialroy » Mon May 07, 2012 12:31 am

well, as I am now bit confused, so you have 2 different business? as you mentioned that you invested money from your business account to another business account? so please clear us so that we can discuss further. is that business account from where you invested that is in your own name only? and that business that is your totally own? then where you invested is that your own business or your partnership business?..so cant put any comments on that without understanding this.

proving your business activity, if your business is B2B then you can show few things to prove business activity.
1. contract with other businesses (customers recognizable, well known).
2. bank statement with money came into your business account from another business.
3. advertisement, with your company name, your name, designation, address.
4. trade body membership.
5. business card.
6. VAT certificate if you did more than 70K and if you have that VAT registration. . (very careful as per uk law if any business's revenue is 70K and all the business activity is local UK based then they need to get VAT registration must)

if it is B2C
then
1. bank statement showing money came into accounts on regular basis, and paid to the suppliers company.
2. supplier agreement.
3. VAT certificate if you did more than 70K and if you have that VAT registration. (very careful as per uk law if any business's revenue is 70K and all the business activity is local UK based then they need to get VAT registration must)
4. Business premises as they somewhere mentioned that they assume that business have a physical address rather than PO box, canr remember where I saw that but there is somewhere. so you can show tenancy agreement to prove that you have a business premises.

in my case I am always try to get everything 100% authentic and clear, but its depends on different person. I am not saying that you need all of them, but you can pick and address them as per your case. this is my understanding so dont get confuse with others comments and suggestion, do your own analysis as per your scenario.
"SONITA"
his HM renevue is not for "luqmanzaheer", in general for others if anyone are running company more than that 1.5 years then they must have that Hm Revenue papers.
and there is no different process for Plc, LLC, LLP in term of UKBA, as they divided in 2 part one self employed another limited company.
Note: if "luqmanzaheer", trying to mean public limited company by PLC then if it is in the security market, then maybe there is some other requirements or some restriction not sure, or if he means PLC, Private limited company then different case.. I assumed that he mean private limited company. normally as new entrepreneur almost everybody start with sole traders or with limited company, you will find hardly few with public limited company. hoe this will raise more question for you guys, and do some research. For your information my company is limited company and in my own name only.
luqmanzaheer wrote:thanks both of you for suggesting me right things pial i made investment from my business a/c to other invested company a/c and i have bank statement, agreement letter and receipt of that investment. my accountant is going to show investment in management a/c and according to accountant and layer these evidences is enough to prove the investment. what u both say on this either i need any kind of other documentation on this and further more pial how can i show my business activity other way plz let me know thanks waiting for your response?

Pialroy wrote:sorry I forgot to mention 2 important things.
1. letter from partner it is not an authentic documents, that will not help to claim point. and my understanding is don't give un-usual documents. to prove that fund there is lots of other authentic document source you have, company house report, management accounts authorized, hm revenue report, etc.

2. yes "luqmanzaheer", he is in right track but need to organized documents in right order, all the documents need to reflect with each other.
3. yes he should shows his business activity to be in strong position, but what I was trying to tell him dont claim point for that 10K deposit more 10k in personal account and claim that point on that basis rather than already invested money, he can show his business activity in diffferent way. this is my suggestion.
SONITA wrote:no i thing pial is on wrong way i think luqman did not talk about un audited accounts he just point out the company formation stage and he said right like he said his visa is going expire in 19 july 2012 so it means accounts need to b prepare in jun or july 2012 it means all the accounting figure should be there like
> start up capital
> sales

> expenditures
> salary
> etc

so what i understand they form company in 24/11/2012 accounts are due in dec 2012 but he can make management account for case with accountant certificate and a/c it self describe all the business activities and share value. i thing luqman is on track what u say pial

luqmanzaheer
Junior Member
Posts: 78
Joined: Thu Apr 26, 2012 2:02 pm
Location: bradford
Contact:

Post by luqmanzaheer » Mon May 07, 2012 12:43 am

let me clear everything, we are running travel and money remittance business . we are 2 partners with equal share holding. we have agreements with different money remittance and travel companies who provide services to end user on our behalf. i made deposit of 10000k to one main travel and tourism company as security of issuing air tickets. so in return the company with which we are in agreement gave us legal agreement letter , receipt of payment and bank statement showing deposit we made in a/c. so in this way i made my investment and i have evidence of this as i told u. what u say
Pialroy wrote:well, as I am now bit confused, so you have 2 different business? as you mentioned that you invested money from your business account to another business account? so please clear us so that we can discuss further. is that business account from where you invested that is in your own name only? and that business that is your totally own? then where you invested is that your own business or your partnership business?..so cant put any comments on that without understanding this.

proving your business activity, if your business is B2B then you can show few things to prove business activity.
1. contract with other businesses (customers recognizable, well known).
2. bank statement with money came into your business account from another business.
3. advertisement, with your company name, your name, designation, address.
4. trade body membership.
5. business card.
6. VAT certificate if you did more than 70K and if you have that VAT registration. . (very careful as per uk law if any business's revenue is 70K and all the business activity is local UK based then they need to get VAT registration must)

if it is B2C
then
1. bank statement showing money came into accounts on regular basis, and paid to the suppliers company.
2. supplier agreement.
3. VAT certificate if you did more than 70K and if you have that VAT registration. (very careful as per uk law if any business's revenue is 70K and all the business activity is local UK based then they need to get VAT registration must)
4. Business premises as they somewhere mentioned that they assume that business have a physical address rather than PO box, canr remember where I saw that but there is somewhere. so you can show tenancy agreement to prove that you have a business premises.

in my case I am always try to get everything 100% authentic and clear, but its depends on different person. I am not saying that you need all of them, but you can pick and address them as per your case. this is my understanding so dont get confuse with others comments and suggestion, do your own analysis as per your scenario.
"SONITA"
his HM renevue is not for "luqmanzaheer", in general for others if anyone are running company more than that 1.5 years then they must have that Hm Revenue papers.
and there is no different process for Plc, LLC, LLP in term of UKBA, as they divided in 2 part one self employed another limited company.
Note: if "luqmanzaheer", trying to mean public limited company by PLC then if it is in the security market, then maybe there is some other requirements or some restriction not sure, or if he means PLC, Private limited company then different case.. I assumed that he mean private limited company. normally as new entrepreneur almost everybody start with sole traders or with limited company, you will find hardly few with public limited company. hoe this will raise more question for you guys, and do some research. For your information my company is limited company and in my own name only.
luqmanzaheer wrote:thanks both of you for suggesting me right things pial i made investment from my business a/c to other invested company a/c and i have bank statement, agreement letter and receipt of that investment. my accountant is going to show investment in management a/c and according to accountant and layer these evidences is enough to prove the investment. what u both say on this either i need any kind of other documentation on this and further more pial how can i show my business activity other way plz let me know thanks waiting for your response?

Pialroy wrote:sorry I forgot to mention 2 important things.
1. letter from partner it is not an authentic documents, that will not help to claim point. and my understanding is don't give un-usual documents. to prove that fund there is lots of other authentic document source you have, company house report, management accounts authorized, hm revenue report, etc.

2. yes "luqmanzaheer", he is in right track but need to organized documents in right order, all the documents need to reflect with each other.
3. yes he should shows his business activity to be in strong position, but what I was trying to tell him dont claim point for that 10K deposit more 10k in personal account and claim that point on that basis rather than already invested money, he can show his business activity in diffferent way. this is my suggestion.
SONITA wrote:no i thing pial is on wrong way i think luqman did not talk about un audited accounts he just point out the company formation stage and he said right like he said his visa is going expire in 19 july 2012 so it means accounts need to b prepare in jun or july 2012 it means all the accounting figure should be there like
> start up capital
> sales

> expenditures
> salary
> etc

so what i understand they form company in 24/11/2012 accounts are due in dec 2012 but he can make management account for case with accountant certificate and a/c it self describe all the business activities and share value. i thing luqman is on track what u say pial

Pialroy
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Post by Pialroy » Mon May 07, 2012 1:25 am

"How anyone can invest in running or new business" either buying shares from existing company and it need to documented to the company house, or start a new company with capital investment with documentation from company house where you can mention your start-up share capital. or buying shares from share market (share market investment if not acceptable as per I can remember)
So you made that further investment into your business bank account and then you transfer that money to another business say "Pial's company" as security deposit? if I understood right then yes you can show that investment, but remember on what basis you made that further investment into your business? as you are 50% share holder of that company and 50% share holder is your another friend? so either you purchase some share from your another partner? or your partner had 10K investment also to be in equal position, or going to invest in future there should be something clear. you cant not just show that you injected 10K without any proper documentation. hope this will help you to prepare more authentic documents.
for your kind information, please note there is a clause
"Other than the work necessary to administer the business, your main business activity must be working at graduate level. We will not take into account the tasks involved with the running of the business for this assessment.

For example
• If the business is software sales and your main activity is developing software, you may qualify for points;
• If the business is a taxi firm, the main occupation is driving a taxi and you will not score points even though you manage the business. Your main activity is providing a taxi service which is not skilled to graduate level."

so careful with your activity in the business. also you didnt answer that is that private limited company or public limited company? are you in the security/share market already?


[quote="luqmanzaheer"]let me clear everything, we are running travel and money remittance business . we are 2 partners with equal share holding. we have agreements with different money remittance and travel companies who provide services to end user on our behalf. i made deposit of 10000k to one main travel and tourism company as security of issuing air tickets. so in return the company with which we are in agreement gave us legal agreement letter , receipt of payment and bank statement showing deposit we made in a/c. so in this way i made my investment and i have evidence of this as i told u. what u say

luqmanzaheer
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Post by luqmanzaheer » Mon May 07, 2012 1:33 am

No pial we have private company limited by shares. ya my other friend also have made investment but he just transfer 10000k amount in company a/c for investment in near future.

Pialroy wrote:"How anyone can invest in running or new business" either buying shares from existing company and it need to documented to the company house, or start a new company with capital investment with documentation from company house where you can mention your start-up share capital. or buying shares from share market (share market investment if not acceptable as per I can remember)
So you made that further investment into your business bank account and then you transfer that money to another business say "Pial's company" as security deposit? if I understood right then yes you can show that investment, but remember on what basis you made that further investment into your business? as you are 50% share holder of that company and 50% share holder is your another friend? so either you purchase some share from your another partner? or your partner had 10K investment also to be in equal position, or going to invest in future there should be something clear. you cant not just show that you injected 10K without any proper documentation. hope this will help you to prepare more authentic documents.
for your kind information, please note there is a clause
"Other than the work necessary to administer the business, your main business activity must be working at graduate level. We will not take into account the tasks involved with the running of the business for this assessment.

For example
• If the business is software sales and your main activity is developing software, you may qualify for points;
• If the business is a taxi firm, the main occupation is driving a taxi and you will not score points even though you manage the business. Your main activity is providing a taxi service which is not skilled to graduate level."

so careful with your activity in the business. also you didnt answer that is that private limited company or public limited company? are you in the security/share market already?

luqmanzaheer wrote:let me clear everything, we are running travel and money remittance business . we are 2 partners with equal share holding. we have agreements with different money remittance and travel companies who provide services to end user on our behalf. i made deposit of 10000k to one main travel and tourism company as security of issuing air tickets. so in return the company with which we are in agreement gave us legal agreement letter , receipt of payment and bank statement showing deposit we made in a/c. so in this way i made my investment and i have evidence of this as i told u. what u say

luqmanzaheer
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Post by luqmanzaheer » Mon May 07, 2012 1:43 am

pial my job activity in company is director of business development and finance which is nvq level 6 job, and i have marketing material and contract letter which i have made after director appointment. my all other documentations are clear but i need to do little more work on documentation related to my investment and one more thing i am not able to give figures of my share holding to company house reason is i was appointed as director and share holder of 50% after 02/04/2012 and company house told me that we need to give new shareholding figures in next accounts and company can issue share certificate on their own behalf on certificate book which we (company house) provide your company so the new share holders just need share certificate which company need to issue on share certificate book. or on company letter headed paper.

Pialroy
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Post by Pialroy » Mon May 07, 2012 3:25 am

As you didn't answer that question yet is that is a public limited company? if it is, then your investment will be treated as share purchase remember. just have a quick look here in this quote from policy guide "The money must be in cash in the account. We will not accept ISA accounts or assets such as stocks and shares;;".

from my understanding and point view if your job responsibility is in NQF level 6 then fine there shouldn't be a issue. but in company house report can you see that "director of business development and finance "? if yes then fine you can proceed with marketing materials hope that will work.

just have a look here in this policy guide, hope you will find all your answers.

"If you have invested by way of share capital the business accounts must show the
shareholders, the amount and value of the shares (on the date of purchase) in your name as it appears on your application. If the value of your share capital is not shown in the accounts, then share certificates should be submitted as documentary evidence.

The accounts should clearly show the name of the accountant and the date the accounts were produced. The accountant must be a member of a recognised UK supervisory body (see glossary); if not, we will not accept this evidence. The accounts must show how much you have invested in the business."

once again please make sure whether your company it is an public limited company and they are already in the stock market then need to do analysis in different way. hope this will help you.

luqmanzaheer wrote:pial my job activity in company is director of business development and finance which is nvq level 6 job, and i have marketing material and contract letter which i have made after director appointment. my all other documentations are clear but i need to do little more work on documentation related to my investment and one more thing i am not able to give figures of my share holding to company house reason is i was appointed as director and share holder of 50% after 02/04/2012 and company house told me that we need to give new shareholding figures in next accounts and company can issue share certificate on their own behalf on certificate book which we (company house) provide your company so the new share holders just need share certificate which company need to issue on share certificate book. or on company letter headed paper.

luqmanzaheer
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Post by luqmanzaheer » Mon May 07, 2012 3:35 am

as i said we are runing private limited company pial
Pialroy wrote:As you didn't answer that question yet is that is a public limited company? if it is, then your investment will be treated as share purchase remember. just have a quick look here in this quote from policy guide "The money must be in cash in the account. We will not accept ISA accounts or assets such as stocks and shares;;".

from my understanding and point view if your job responsibility is in NQF level 6 then fine there shouldn't be a issue. but in company house report can you see that "director of business development and finance "? if yes then fine you can proceed with marketing materials hope that will work.

just have a look here in this policy guide, hope you will find all your answers.

"If you have invested by way of share capital the business accounts must show the
shareholders, the amount and value of the shares (on the date of purchase) in your name as it appears on your application. If the value of your share capital is not shown in the accounts, then share certificates should be submitted as documentary evidence.

The accounts should clearly show the name of the accountant and the date the accounts were produced. The accountant must be a member of a recognised UK supervisory body (see glossary); if not, we will not accept this evidence. The accounts must show how much you have invested in the business."

once again please make sure whether your company it is an public limited company and they are already in the stock market then need to do analysis in different way. hope this will help you.

luqmanzaheer wrote:pial my job activity in company is director of business development and finance which is nvq level 6 job, and i have marketing material and contract letter which i have made after director appointment. my all other documentations are clear but i need to do little more work on documentation related to my investment and one more thing i am not able to give figures of my share holding to company house reason is i was appointed as director and share holder of 50% after 02/04/2012 and company house told me that we need to give new shareholding figures in next accounts and company can issue share certificate on their own behalf on certificate book which we (company house) provide your company so the new share holders just need share certificate which company need to issue on share certificate book. or on company letter headed paper.

Pialroy
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Post by Pialroy » Mon May 07, 2012 4:00 am

Then hope you have all your answer, wish you good luck with your application.
luqmanzaheer wrote:as i said we are runing private limited company pial
Pialroy wrote:As you didn't answer that question yet is that is a public limited company? if it is, then your investment will be treated as share purchase remember. just have a quick look here in this quote from policy guide "The money must be in cash in the account. We will not accept ISA accounts or assets such as stocks and shares;;".

from my understanding and point view if your job responsibility is in NQF level 6 then fine there shouldn't be a issue. but in company house report can you see that "director of business development and finance "? if yes then fine you can proceed with marketing materials hope that will work.

just have a look here in this policy guide, hope you will find all your answers.

"If you have invested by way of share capital the business accounts must show the
shareholders, the amount and value of the shares (on the date of purchase) in your name as it appears on your application. If the value of your share capital is not shown in the accounts, then share certificates should be submitted as documentary evidence.

The accounts should clearly show the name of the accountant and the date the accounts were produced. The accountant must be a member of a recognised UK supervisory body (see glossary); if not, we will not accept this evidence. The accounts must show how much you have invested in the business."

once again please make sure whether your company it is an public limited company and they are already in the stock market then need to do analysis in different way. hope this will help you.

luqmanzaheer wrote:pial my job activity in company is director of business development and finance which is nvq level 6 job, and i have marketing material and contract letter which i have made after director appointment. my all other documentations are clear but i need to do little more work on documentation related to my investment and one more thing i am not able to give figures of my share holding to company house reason is i was appointed as director and share holder of 50% after 02/04/2012 and company house told me that we need to give new shareholding figures in next accounts and company can issue share certificate on their own behalf on certificate book which we (company house) provide your company so the new share holders just need share certificate which company need to issue on share certificate book. or on company letter headed paper.

luqmanzaheer
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Post by luqmanzaheer » Mon May 07, 2012 3:34 pm

one more question pial how long investment funds require in personal a/c is 2 week bank statement is enough

rabeel
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Post by rabeel » Mon May 07, 2012 10:56 pm

Pialroy wrote: from my understanding and point view if your job responsibility is in NQF level 6 then fine there shouldn't be a issue.

My apologies in advance if you will feel bad after reading my comments but according to my understanding it is not ur job which needs to be at graduate level , it is the main business activity which needs to be at graduate level .

As home office says "Other than the work necessary to administer the business, your main business activity must be working at graduate level. We will not take into account the tasks involved with the running of the business for this assessment.

For example
• If the business is software sales and your main activity is developing software, you may qualify for points;
• If the business is a taxi firm, the main occupation is driving a taxi and you will not score points even though you manage the business. Your main activity is providing a taxi service which is not skilled to graduate level."


So if your business activity which is a travel agency is not in UKBA graduate list then you might could face an issue. Please discuss with immigration expert and we will be glad to hear other people comments on it as well. I might be wrong but this is my understanding.

luqmanzaheer
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Post by luqmanzaheer » Tue May 08, 2012 12:14 am

as per my understanding ukba need job level to be at graduate level. ok you tell me is tesco store itself have a level but in store the store manager have a job level which is graduate level same as travel agency it self have no level but with in travel agency different jobs comes like customer services, booking manager, finance and business development manager, different jobs have different nvq levels. what u say about this
rabeel wrote:
Pialroy wrote: from my understanding and point view if your job responsibility is in NQF level 6 then fine there shouldn't be a issue.

My apologies in advance if you will feel bad after reading my comments but according to my understanding it is not ur job which needs to be at graduate level , it is the main business activity which needs to be at graduate level .

As home office says "Other than the work necessary to administer the business, your main business activity must be working at graduate level. We will not take into account the tasks involved with the running of the business for this assessment.

For example
• If the business is software sales and your main activity is developing software, you may qualify for points;
• If the business is a taxi firm, the main occupation is driving a taxi and you will not score points even though you manage the business. Your main activity is providing a taxi service which is not skilled to graduate level."


So if your business activity which is a travel agency is not in UKBA graduate list then you might could face an issue. Please discuss with immigration expert and we will be glad to hear other people comments on it as well. I might be wrong but this is my understanding.

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