Welcome to immigrationboards.com!
No, but if you take over a business, you must provide extra evidence to satisfy the rules as per the Tier 1E guide.1: The company i was using while this 3year time period has gone bankrupt as business went downhill and it happened around Sep, Oct time last year, I became a director of a new company and took over a business for extension in June 2020, how will i justify about the previous company if asked?
Yes. Either in the old business or the new one.2: For the extension do I have to show £50,000 investment?
There is no requirement for a business plan however the genuineness test applies. So the UKVI expects you to prove that you are running a genuine business and you did not just use the new business to stay in the UK3: Do I still have to submit a business plan when applying for extension?
4: Can I.T and networking be included as future business plan extension?
It is specified in the guidance. It relates to employment before you took over
Read the guide. You are required to provide specific documents if you have taken over a business
NO. PLEASE READ THE Tier 1 GUIDEHumaira06 wrote: ↑Mon Jan 18, 2021 8:51 amHi Zimba
I am bit confused, i was on graduate entreprenuer for 2years and then switched to tier 1 enterprenuer 3years which is about to end in May'21, does my graduate enterprenuer count towards tier 1 3years to make it 5years and apply for ILR, someone said it does, i want to double check please..
Refer to the Tier 1E guide on what documents are required. I stressed this above
There is no requirement to submit such evidence. REFER TO THE GUIDE
The question is not clear.