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Tier 1 Enquiry

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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abuhf
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Posts: 289
Joined: Thu Mar 14, 2019 8:38 pm
India

Re: Tier 1 Enquiry Consent letter and documents required for dependent applications

Post by abuhf » Fri Dec 20, 2019 3:07 am

Than you so much Marcnath, its very clear now


marcnath wrote:
Thu Dec 19, 2019 10:27 am
abuhf wrote:
Thu Dec 12, 2019 1:02 am
Dear Mods and Experts,

Please help me with below

I'm registered as director of my compan since 2018 and now i recent sent confirmation statement, but since I came to UK just less than 3 months ago is ther any changes I need to inform.

In the companies house registration the country of residence was my home country before and it still reflects the same, is it mandatory to change to country of residence to UK

Please assist.

Regards,
Abuhf
No to both under the immigration rules, though I am not sure why you would not change the companies house record - it is such a simple thing

abuhf
Member of Standing
Posts: 289
Joined: Thu Mar 14, 2019 8:38 pm
India

Re: Tier 1 Enquiry Consent letter and documents required for dependent applications

Post by abuhf » Thu Jan 09, 2020 10:49 pm

Dear Mods and Experts,

I went to bank to enquire about transferring investment funds of £200k, they advise me I can transfer £150k in One financial year so can I transfer balance £50k through individual third party or company?


Please advise

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marcnath
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Location: Milton Keynes

Re: Tier 1 Enquiry Consent letter and documents required for dependent applications

Post by marcnath » Thu Jan 09, 2020 11:02 pm

abuhf wrote:
Thu Jan 09, 2020 10:49 pm
Dear Mods and Experts,

I went to bank to enquire about transferring investment funds of £200k, they advise me I can transfer £150k in One financial year so can I transfer balance £50k through individual third party or company?


Please advise
Yes sure - but I have never heard of such a limit. Is this from an overseas bank ?
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.

abuhf
Member of Standing
Posts: 289
Joined: Thu Mar 14, 2019 8:38 pm
India

Re: Tier 1 Enquiry Consent letter and documents required for dependent applications

Post by abuhf » Fri Jan 10, 2020 7:35 am

Yes Marcnath it’s overseas bank

I paid the third party to transfer already, do I need to get any email or letter from him ?

Please advice

uote=marcnath post_id=1865397 time=1578610956 user_id=76145]
abuhf wrote:
Thu Jan 09, 2020 10:49 pm
Dear Mods and Experts,

I went to bank to enquire about transferring investment funds of £200k, they advise me I can transfer £150k in One financial year so can I transfer balance £50k through individual third party or company?


Please advise
Yes sure - but I have never heard of such a limit. Is this from an overseas bank ?
[/quote]

User avatar
umer.shahzad1
Member
Posts: 201
Joined: Fri Apr 25, 2014 10:15 pm
Pakistan

Re: Tier 1 Enquiry Consent letter and documents required for dependent applications

Post by umer.shahzad1 » Fri Jan 10, 2020 2:19 pm

if you want to transfer funds with a overseas third party UK bank always generate a letter when a forgien remittance is done you can get a letter from your UK bank which confirms the funds are transferred from overseas if you are transferring funds from Indian money exchange company they will provide you a Telegraph transfer copy


hope so that helps

abuhf
Member of Standing
Posts: 289
Joined: Thu Mar 14, 2019 8:38 pm
India

Re: Tier 1 Enquiry Consent letter and documents required for dependent applications

Post by abuhf » Fri Jan 10, 2020 11:03 pm

Thank you so much Umar,

The third party said i can pay him in local currency in India and he will transfer from his business account in uk

Is it accceptable ??


Is email conversation sufficient?
umer.shahzad1 wrote:
Fri Jan 10, 2020 2:19 pm
if you want to transfer funds with a overseas third party UK bank always generate a letter when a forgien remittance is done you can get a letter from your UK bank which confirms the funds are transferred from overseas if you are transferring funds from Indian money exchange company they will provide you a Telegraph transfer copy


hope so that helps

User avatar
umer.shahzad1
Member
Posts: 201
Joined: Fri Apr 25, 2014 10:15 pm
Pakistan

Re: Tier 1 Enquiry Consent letter and documents required for dependent applications

Post by umer.shahzad1 » Sun Jan 12, 2020 11:10 am

thats fine , i know i ve transferred funds from Pakistan we pay them in Local currency ,

how you are investing funds via Director Loan or Share capital

if its via director loan the money must come into your personal account and then it must be transferred into ur business account

if its via share capital them funds must come into ur business account and relevant equity shares must be issued by your Accountant hope so that helps

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umer.shahzad1
Member
Posts: 201
Joined: Fri Apr 25, 2014 10:15 pm
Pakistan

Re: Tier 1 Enquiry Consent letter and documents required for dependent applications

Post by umer.shahzad1 » Sun Jan 12, 2020 11:13 am

if u don't mind can u tell me who is third party a money exchange company or your Uncle or aunt


if its ur Uncle aunt family member you must transfer funds into his or her personal account so that they can transfer you , take a note of that


if its money exchange they will give u receipt of transfer which is Called Mt-20 Copy

if they are uncle or aunt transfer into their personal account Plus write down on a stam paper as well with a declaration that you have transfer funds to them so that they can transfer to u


sign it by both parties you and them



email wouldn't be sufficient

abuhf
Member of Standing
Posts: 289
Joined: Thu Mar 14, 2019 8:38 pm
India

Re: Tier 1 Enquiry Consent letter and documents required for dependent applications

Post by abuhf » Sun Jan 12, 2020 8:49 pm

Hi Umer

Thank you so much, actually it’s my cousin, he own multiple businesses and in uk and outside uk in our country

I paid him in local currency in my country and he said he will transfer funds from his business account in uk to my personal account to save transaction charges for him and me, is it ok ???


Please advice



quote=umer.shahzad1 post_id=1866115 time=1578827618 user_id=107278]
if u don't mind can u tell me who is third party a money exchange company or your Uncle or aunt


if its ur Uncle aunt family member you must transfer funds into his or her personal account so that they can transfer you , take a note of that


if its money exchange they will give u receipt of transfer which is Called Mt-20 Copy

if they are uncle or aunt transfer into their personal account Plus write down on a stam paper as well with a declaration that you have transfer funds to them so that they can transfer to u


sign it by both parties you and them



email wouldn't be sufficient
[/quote]

abuhf
Member of Standing
Posts: 289
Joined: Thu Mar 14, 2019 8:38 pm
India

Re: Tier 1 Enquiry Consent letter and documents required for dependent applications

Post by abuhf » Sun Jan 12, 2020 8:50 pm

Hi Umer

Thank you so much, actually it’s my cousin, he own multiple businesses and in uk and outside uk in our country

I paid him in local currency in my country and he said he will transfer funds from his business account in uk to my personal account to save transaction charges for him and me, is it ok ???


Please advice



quote=umer.shahzad1 post_id=1866115 time=1578827618 user_id=107278]
if u don't mind can u tell me who is third party a money exchange company or your Uncle or aunt


if its ur Uncle aunt family member you must transfer funds into his or her personal account so that they can transfer you , take a note of that


if its money exchange they will give u receipt of transfer which is Called Mt-20 Copy

if they are uncle or aunt transfer into their personal account Plus write down on a stam paper as well with a declaration that you have transfer funds to them so that they can transfer to u


sign it by both parties you and them



email wouldn't be sufficient
[/quote]

User avatar
umer.shahzad1
Member
Posts: 201
Joined: Fri Apr 25, 2014 10:15 pm
Pakistan

Re: Tier 1 Enquiry Consent letter and documents required for dependent applications

Post by umer.shahzad1 » Mon Jan 13, 2020 12:11 pm

thats fine , how you are investing funds as director loan or share capital ?

if its director loan then ask him to transfer funds from his personal to your personal account

if its share capital he can send money into ur business bank account

make sure you keep evidence of the funds being transferred to him in india ,


hope so that helps

abuhf
Member of Standing
Posts: 289
Joined: Thu Mar 14, 2019 8:38 pm
India

Re: Tier 1 Enquiry Consent letter and documents required for dependent applications

Post by abuhf » Tue Jan 14, 2020 12:54 am

Hi Umer

I’m director of company and I will invest funds as directors loan.

As previously mentioned in my old posts my intended business doesn’t require 200k so i’m Going to invest some funds petrol bunks .

In petrol bunks there will be three Directors including me ( other two directors are my cousins, one hold ilr and other Holding family resident permit ( brp ) so if we create two full time job with settled person can I still claim it for job creation under tier 1 ?

Please advise



ote=umer.shahzad1 post_id=1866472 time=1578917511 user_id=107278]
thats fine , how you are investing funds as director loan or share capital ?

if its director loan then ask him to transfer funds from his personal to your personal account

if its share capital he can send money into ur business bank account

make sure you keep evidence of the funds being transferred to him in india ,


hope so that helps
[/quote]

User avatar
umer.shahzad1
Member
Posts: 201
Joined: Fri Apr 25, 2014 10:15 pm
Pakistan

Re: Tier 1 Enquiry Consent letter and documents required for dependent applications

Post by umer.shahzad1 » Tue Jan 14, 2020 9:44 am

well if u r doing it via director loan funds must be transferred into personal account then into business account


source of funds must be clear as this the major thing they ask in genuine entrepreneur test


you have to show you have spent £200k in one or two business you must be 100 percent share holder of that business correct me if i am wrong but i think so you must have £200k invested in your 2-3 business in which you are 100 percent share holder

abuhf
Member of Standing
Posts: 289
Joined: Thu Mar 14, 2019 8:38 pm
India

Re: Tier 1 Enquiry Consent letter and documents required for dependent applications

Post by abuhf » Tue Jan 14, 2020 5:25 pm

Assalamualaikum Umer,

To be on safeside I will transfer excess of GBP 200K from my country to UK since I'm intend to do many businessess.

Can I transfer excess of GBP 200K and invest all in business allowed under Tier 1

Also to show I spend GBP 200K, all I need to do is make as director loan and transfer to Business account.

On what all things GBP 200K needs to be spend on, since I'm working from home can I take part of the rent from this investment until I find office ?

In regards to Directors and share holders, could you please clarify that I must own 100% share of any business I do ?

Jazak ALLAH Khair for your care.

Regards,
Abuhf


umer.shahzad1 wrote:
Tue Jan 14, 2020 9:44 am
well if u r doing it via director loan funds must be transferred into personal account then into business account


source of funds must be clear as this the major thing they ask in genuine entrepreneur test


you have to show you have spent £200k in one or two business you must be 100 percent share holder of that business correct me if i am wrong but i think so you must have £200k invested in your 2-3 business in which you are 100 percent share holder

User avatar
marcnath
Moderator
Posts: 5847
Joined: Tue Jul 03, 2012 2:27 pm
Location: Milton Keynes

Re: Tier 1 Enquiry Consent letter and documents required for dependent applications

Post by marcnath » Tue Jan 14, 2020 8:34 pm

umer.shahzad1 wrote:
Tue Jan 14, 2020 9:44 am
well if u r doing it via director loan funds must be transferred into personal account then into business account


source of funds must be clear as this the major thing they ask in genuine entrepreneur test


you have to show you have spent £200k in one or two business you must be 100 percent share holder of that business correct me if i am wrong but i think so you must have £200k invested in your 2-3 business in which you are 100 percent share holder
Please do not give incorrect advice/comments.

If you do not know, posting such advice just confuses everyone and harms people coming to this forum.

If you do know, can you please quote relevant section from the immigration rules or guidance documents for the 1st and 3rd points ?
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.

User avatar
umer.shahzad1
Member
Posts: 201
Joined: Fri Apr 25, 2014 10:15 pm
Pakistan

Re: Tier 1 Enquiry Consent letter and documents required for dependent applications

Post by umer.shahzad1 » Wed Jan 15, 2020 10:49 am

marcnath wrote:
Tue Jan 14, 2020 8:34 pm
umer.shahzad1 wrote:
Tue Jan 14, 2020 9:44 am
well if u r doing it via director loan funds must be transferred into personal account then into business account


source of funds must be clear as this the major thing they ask in genuine entrepreneur test


you have to show you have spent £200k in one or two business you must be 100 percent share holder of that business correct me if i am wrong but i think so you must have £200k invested in your 2-3 business in which you are 100 percent share holder
Please do not give incorrect advice/comments.

If you do not know, posting such advice just confuses everyone and harms people coming to this forum.

If you do know, can you please quote relevant section from the immigration rules or guidance documents for the 1st and 3rd points ?


well i am telling him about director loan for director loan funds must be transferred from personal account to business account

if you are starting 2-3 business i wasnt sure about this thats why i have written correct me if i am wrong hope so that make it clear

abuhf
Member of Standing
Posts: 289
Joined: Thu Mar 14, 2019 8:38 pm
India

Re: Tier 1 Enquiry Consent letter and documents required for dependent applications

Post by abuhf » Wed Jan 15, 2020 11:52 am

Thank you Umer and Marcnath ,

Could you please clarify on Directors as one of the businesses which I intend to do ( Petrol Bunk ) will have three directors with equal shares, but the other two directors ( one is ILR holder and another got resident permit based on family ) is it ok ?

When we recruit 10 full time staffs atleast 35 hours per weeks can I use it towards my extension or ILR if they last

from my investment I will be investing atleast GBP200K , please advise


umer.shahzad1 wrote:
Wed Jan 15, 2020 10:49 am
marcnath wrote:
Tue Jan 14, 2020 8:34 pm
umer.shahzad1 wrote:
Tue Jan 14, 2020 9:44 am
well if u r doing it via director loan funds must be transferred into personal account then into business account


source of funds must be clear as this the major thing they ask in genuine entrepreneur test


you have to show you have spent £200k in one or two business you must be 100 percent share holder of that business correct me if i am wrong but i think so you must have £200k invested in your 2-3 business in which you are 100 percent share holder
Please do not give incorrect advice/comments.

If you do not know, posting such advice just confuses everyone and harms people coming to this forum.

If you do know, can you please quote relevant section from the immigration rules or guidance documents for the 1st and 3rd points ?


well i am telling him about director loan for director loan funds must be transferred from personal account to business account

if you are starting 2-3 business i wasnt sure about this thats why i have written correct me if i am wrong hope so that make it clear

User avatar
marcnath
Moderator
Posts: 5847
Joined: Tue Jul 03, 2012 2:27 pm
Location: Milton Keynes

Re: Tier 1 Enquiry Consent letter and documents required for dependent applications

Post by marcnath » Wed Jan 15, 2020 9:14 pm

umer.shahzad1 wrote:
Wed Jan 15, 2020 10:49 am
marcnath wrote:
Tue Jan 14, 2020 8:34 pm
umer.shahzad1 wrote:
Tue Jan 14, 2020 9:44 am
well if u r doing it via director loan funds must be transferred into personal account then into business account


source of funds must be clear as this the major thing they ask in genuine entrepreneur test


you have to show you have spent £200k in one or two business you must be 100 percent share holder of that business correct me if i am wrong but i think so you must have £200k invested in your 2-3 business in which you are 100 percent share holder
Please do not give incorrect advice/comments.

If you do not know, posting such advice just confuses everyone and harms people coming to this forum.

If you do know, can you please quote relevant section from the immigration rules or guidance documents for the 1st and 3rd points ?


well i am telling him about director loan for director loan funds must be transferred from personal account to business account

if you are starting 2-3 business i wasnt sure about this thats why i have written correct me if i am wrong hope so that make it clear


I repeat - if you are not sure, then don't write or be very clear you are stating something you are not sure but only guessing.

Someone may take you as knowledgeable and act accordingly.
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.

User avatar
marcnath
Moderator
Posts: 5847
Joined: Tue Jul 03, 2012 2:27 pm
Location: Milton Keynes

Re: Tier 1 Enquiry Consent letter and documents required for dependent applications

Post by marcnath » Wed Jan 15, 2020 9:15 pm

abuhf wrote:
Wed Jan 15, 2020 11:52 am
Thank you Umer and Marcnath ,

Could you please clarify on Directors as one of the businesses which I intend to do ( Petrol Bunk ) will have three directors with equal shares, but the other two directors ( one is ILR holder and another got resident permit based on family ) is it ok ?

When we recruit 10 full time staffs atleast 35 hours per weeks can I use it towards my extension or ILR if they last

from my investment I will be investing atleast GBP200K , please advise


Yes to both your questions.
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.

abuhf
Member of Standing
Posts: 289
Joined: Thu Mar 14, 2019 8:38 pm
India

Re: Tier 1 Enquiry Consent letter and documents required for dependent applications

Post by abuhf » Wed Jan 15, 2020 10:33 pm

Thank you so much Marcnath, i under stood that shares can be equal or various proportions right
marcnath wrote:
Wed Jan 15, 2020 9:15 pm
abuhf wrote:
Wed Jan 15, 2020 11:52 am
Thank you Umer and Marcnath ,

Could you please clarify on Directors as one of the businesses which I intend to do ( Petrol Bunk ) will have three directors with equal shares, but the other two directors ( one is ILR holder and another got resident permit based on family ) is it ok ?

When we recruit 10 full time staffs atleast 35 hours per weeks can I use it towards my extension or ILR if they last

from my investment I will be investing atleast GBP200K , please advise


Yes to both your questions.

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