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T1 50 k

Only for UK Tier 1 (Entrepreneur) points system

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

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Mehfuz
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VC Funding 50k route

Post by Mehfuz » Sun Sep 22, 2019 11:06 am

Hi CR001, Mcnarth, Zimba and all the other experts..

I have received fund transfer from VC, n registered the company as well.

Is there any sample case where I could look through and take guidance on what documents are needed. I have looked thorugh the guidance. I almost get everything but just wanted to double check thorugh a sample case.

It's been 3 months, i just wanted to know what documents i will need to show that the investment was made?

Can i get a chance to speak to one of you via workpermit.com, if i give them my case for extension?

Sorry if my questions looks dumb ...
Regards

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CR001
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Re: VC Funding 50k route

Post by CR001 » Sun Sep 22, 2019 12:07 pm

None of the moderators work for 'workpermit.com'. We are all unpaid volunteers and the forum is completely separate and independent of workpermit.com.
Char (CR001 not Casa)
In life you cannot press the Backspace button!!
Please DO NOT send me a PM for immigration advice. I reserve the right to ignore the PM and not respond.

Mehfuz
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Re: VC Funding 50k route

Post by Mehfuz » Sun Sep 22, 2019 3:57 pm

Thanks CR001

Is there any sample case where i can look for VC 50k route extension??

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Zimba
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Re: VC Funding 50k route

Post by Zimba » Sun Sep 22, 2019 5:28 pm

The Tier 1E guide has all the required info.
I suggest to see this post as well: uk-tier-1-entrepreneur-visas/venture-ca ... 47741.html
Advice is given based on my personal research and experience only. DO NOT contact me via private messages for advice

Mehfuz
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T1 50 k

Post by Mehfuz » Thu Sep 26, 2019 8:12 am

Hi Moderators
I have received VC funding into my business bank acc which I will be showing unders creditors. Is this correct? Just to mention i own 100% share and only director.

I want to know if i can put more moeny into this business e.g. 60k from personal to business.. this will be director's loan. If they don't count VC 50k, will HO consider 60k investment from me when considering extension?

One more thing, i want to open another company and invest 50k .. can this money be counted towards investment at the time of extension?

Can I combine jobs from these all companies and go for accelerated route?

If I am able to create 10 jobs in my first company, and if HO consider only 8 jobs, then if i have applied for accelerated route, can HO give extension under ormal route.. 2 year extension...

Please try and guide if You can..

Thanks again..

Regards
Mehfuz

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CR001
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Re: T1 50 k

Post by CR001 » Thu Sep 26, 2019 8:13 am

Char (CR001 not Casa)
In life you cannot press the Backspace button!!
Please DO NOT send me a PM for immigration advice. I reserve the right to ignore the PM and not respond.

Mehfuz
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Posts: 79
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Re: T1 50 k

Post by Mehfuz » Thu Sep 26, 2019 10:15 am

So Sorry CR001

My mistake..

Can You please reply to the queries .. i will bear in mind next ...

Thanks again..

Mehfuz
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Re: T1 50 k

Post by Mehfuz » Thu Sep 26, 2019 7:58 pm

Please reply to above queries.. Mcnarth, CR001, Zimba??

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marcnath
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Re: T1 50 k

Post by marcnath » Thu Sep 26, 2019 8:56 pm

Mehfuz wrote:
Thu Sep 26, 2019 8:12 am
Hi Moderators
I have received VC funding into my business bank acc which I will be showing unders creditors. Is this correct? Just to mention i own 100% share and only director.
Don't see a problem
Mehfuz wrote:
Thu Sep 26, 2019 8:12 am
I want to know if i can put more moeny into this business e.g. 60k from personal to business.. this will be director's loan. If they don't count VC 50k, will HO consider 60k investment from me when considering extension?
Unlikely - you have to submit documentary evidence for VC funding and if there is a problem with that, you will not get points for investment

Mehfuz wrote:
Thu Sep 26, 2019 8:12 am
One more thing, i want to open another company and invest 50k .. can this money be counted towards investment at the time of extension?
No
Mehfuz wrote:
Thu Sep 26, 2019 8:12 am
Can I combine jobs from these all companies and go for accelerated route?
Yes
Mehfuz wrote:
Thu Sep 26, 2019 8:12 am
If I am able to create 10 jobs in my first company, and if HO consider only 8 jobs, then if i have applied for accelerated route, can HO give extension under ormal route.. 2 year extension...

Please try and guide if You can..

Thanks again..

Regards
Mehfuz
You would need to reapply for an extension. Long time back, I do recall seeing that they will give an extension if you don't meet the conditions, but recently I recall seeing a case where they just refused. So I am not 100% sure on this.
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.

Mehfuz
Junior Member
Posts: 79
Joined: Sat Mar 30, 2019 8:59 am
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Re: T1 50 k

Post by Mehfuz » Fri Sep 27, 2019 8:29 am

Thank You So much McNarth...

So helpful You are...

I have copied ur reply below.. please see the query after ur reply..

"Unlikely - you have to submit documentary evidence for VC funding and if there is a problem with that, you will not get points for investment"

May i know what documents?? VC only gave me documents before i made the initial application, can i use same ?? Or would i need more??

Do i have to give them shares in return for their investment? At the moment i am the only director with 100% share holding..

Thanks again
Regards
Mehfuz

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CR001
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Re: VC Funding 50k route

Post by CR001 » Fri Sep 27, 2019 8:31 am

Zimba wrote:
Sun Sep 22, 2019 5:28 pm
The Tier 1E guide has all the required info.
I suggest to see this post as well: uk-tier-1-entrepreneur-visas/venture-ca ... 47741.html
As has already been advised, read the guide!
Char (CR001 not Casa)
In life you cannot press the Backspace button!!
Please DO NOT send me a PM for immigration advice. I reserve the right to ignore the PM and not respond.

Mehfuz
Junior Member
Posts: 79
Joined: Sat Mar 30, 2019 8:59 am
Mood:
India

Re: T1 50 k

Post by Mehfuz » Sat Oct 05, 2019 5:12 pm

Hi Experts

I have made a mistake in initial application t1 50. I have been granted a visa but i have replied to one of the questions wrong when filling out my initial application form.
They ask You weather I have NI number or not? I reply 'No'.
Basically I came here in UK on student visa when i was 16 years old in 2001 and went back to India in 2003.
. I must have applied at that time but because of these 17 years gap, I forgot that I had NI.
But when I applied here for National Insurance Numbers, they found that they already have my NI and i could continue using same NI so they posted same NI for me. They called me when they were processing NI application, and asked me whether I have been in this country before, so I told them 'yes' and then they got me through series of security questions just to make sure I was being given correct NI.

Now my query is when i will apply for extension, do i mention that i did have insurance number and i made a mistake when filling initial entry form and made a mistake or do i not mention anything?

Please advise

Regards
Mehfuz

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marcnath
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Re: T1 50 k

Post by marcnath » Sat Oct 05, 2019 5:33 pm

It is unlikely to matter.
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.

Mehfuz
Junior Member
Posts: 79
Joined: Sat Mar 30, 2019 8:59 am
Mood:
India

Re: T1 50 k

Post by Mehfuz » Wed Oct 09, 2019 10:01 pm

Hi all..
Again with silly but useful questions..
Dear Mcnarth, CR001, Zimba

Hope You all are well.
I have few questions as below.
1. I was given points initial grant of 50 k VC funding for X business ltd. Term sheets and all the VC letters connfirmed the availability of 50 k to my X ltd.
But I have opened Y ltd and the VC firm has transferred into Y ltd as an investment from them. What i need to know is that Would I have to show these for claiming points for investment made?

2. Would I have to make another term sheets, business plan in which vc have invested and agreements with VC firm for Y ltd investments?

3.I have opened a diff business all together from X to Y. So both the names n business area are different. Claimed points for X ltd in initial and planning to hsow investment by VC firm in Y ltd. Please suggest any relevant information to the best of your knowledge and experience.

4. When I hire employees, does the salary paid to them counted as investment?
5. Is accountanats expense can be counted in investment? If not, how do i pay to accountant? Shall i put 5k into business and pay these funds or can i pay from 50 k received from VC. If I pay from VC and then if it is not counted in business then how would I be able to satisfy CW that I have invested and used these 50k.

To be honest with You, I almost can't sleep properly. It's been 4 months since my entry. I have registered as Director of Y ltd and i m only director and share holder. I have just started doing business.

Regards
Mehfuz

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marcnath
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Re: T1 50 k

Post by marcnath » Thu Oct 10, 2019 11:23 am

Mehfuz wrote:
Wed Oct 09, 2019 10:01 pm
Hi all..
Again with silly but useful questions..
Dear Mcnarth, CR001, Zimba

Hope You all are well.
I have few questions as below.
1. I was given points initial grant of 50 k VC funding for X business ltd. Term sheets and all the VC letters connfirmed the availability of 50 k to my X ltd.
But I have opened Y ltd and the VC firm has transferred into Y ltd as an investment from them. What i need to know is that Would I have to show these for claiming points for investment made?



2. Would I have to make another term sheets, business plan in which vc have invested and agreements with VC firm for Y ltd investments?
Yes, you would need full set of documents for company Y
Mehfuz wrote:
Wed Oct 09, 2019 10:01 pm


3.I have opened a diff business all together from X to Y. So both the names n business area are different. Claimed points for X ltd in initial and planning to hsow investment by VC firm in Y ltd. Please suggest any relevant information to the best of your knowledge and experience.
Nothing
Mehfuz wrote:
Wed Oct 09, 2019 10:01 pm



4. When I hire employees, does the salary paid to them counted as investment?
No, only money INVESTED INTO the business counts as investment. Salary paid is money OUT OF the business.
Mehfuz wrote:
Wed Oct 09, 2019 10:01 pm


5. Is accountanats expense can be counted in investment? If not, how do i pay to accountant? Shall i put 5k into business and pay these funds or can i pay from 50 k received from VC. If I pay from VC and then if it is not counted in business then how would I be able to satisfy CW that I have invested and used these 50k.
Same as above. Once the money is paid from VC, the money belongs to the business. It does not matter how you spend it.
Mehfuz wrote:
Wed Oct 09, 2019 10:01 pm



To be honest with You, I almost can't sleep properly. It's been 4 months since my entry. I have registered as Director of Y ltd and i m only director and share holder. I have just started doing business.

Regards
Mehfuz
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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