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Working for a business you've joined

Only for UK Tier 1 (Entrepreneur) points system

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daYZman
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Joined: Sat Jul 07, 2007 12:54 pm

Working for a business you've joined

Post by daYZman » Thu Apr 12, 2012 2:29 am

Hi,

The rules seem to say that the visa holder could work for businesses he/she has joined. What does it mean by joining? If I hold say, a 10% equity of the company, could I work for it? Do I have to acquire the equity by means of a monetary transaction? What if it came from exercising share options?

To take the question to the extreme, what if my share is much less, like 1000 shares of HSBC? Could I then work for HSBC?

Thanks

Kelvin_200875
Newly Registered
Posts: 1
Joined: Thu Apr 12, 2012 2:53 am

Re: Working for a business you've joined

Post by Kelvin_200875 » Thu Apr 12, 2012 3:24 am

i am from nigeria i came to uk with visiting visa which i have already overstay for 18month, i marry to british citizen in register here in uk this year but we been living together for about 20month but she is not working because she have a disable child she take care of, just want to know if i can put in for my visa application here in uk or any advise for what to do

yhdil
Junior Member
Posts: 96
Joined: Sat Oct 15, 2011 10:27 pm

Post by yhdil » Thu Apr 12, 2012 9:54 am

Irrelavent topic

to cut short, you will have to go back and your wife will have to apply for your visa.

Sushil-ACCA
Diamond Member
Posts: 1234
Joined: Wed Apr 02, 2008 1:47 pm
Location: Wembley Park

Post by Sushil-ACCA » Thu Apr 12, 2012 12:25 pm

This country is not for milking

it is hard life here and please dont make it more worse by adding more burden

daYZman
Junior Member
Posts: 50
Joined: Sat Jul 07, 2007 12:54 pm

Re: Working for a business you've joined

Post by daYZman » Thu Apr 12, 2012 12:46 pm

Kelvin_200875 wrote:i am from nigeria i came to uk with visiting visa which i have already overstay for 18month, i marry to british citizen in register here in uk this year but we been living together for about 20month but she is not working because she have a disable child she take care of, just want to know if i can put in for my visa application here in uk or any advise for what to do
Please don't hijack my post.

saeedusman
Member of Standing
Posts: 264
Joined: Fri Jan 15, 2010 12:06 am

Post by saeedusman » Thu Apr 12, 2012 3:55 pm

Sorry original post is lost somewhere...........

Interesting point raised by daYZman.

I cannot see if that will be applicable in real life that we just have some share. I might be wrong though. But how to fulfill all other list of requirements if you just show that you have 10% of the company. It will be easier to have exact details of you and exactly whats your role in that company after you owe 10%.

daYZman
Junior Member
Posts: 50
Joined: Sat Jul 07, 2007 12:54 pm

Post by daYZman » Thu Apr 12, 2012 4:01 pm

saeedusman wrote:Sorry original post is lost somewhere...........

Interesting point raised by daYZman.

I cannot see if that will be applicable in real life that we just have some share. I might be wrong though. But how to fulfill all other list of requirements if you just show that you have 10% of the company. It will be easier to have exact details of you and exactly whats your role in that company after you owe 10%.
What are these other requirements you're referring to? Regarding to employment, it just says that it has to be with a company you've established, joined, or taken over. Joining a company refers to joining an existing one, I believe. Is taking a 10% stake in a company joining the company? It's quite a substantial portion. Do I necessarily have to be appointed to a post while owning the 10%?

yhdil
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Post by yhdil » Thu Apr 12, 2012 4:19 pm

I don't think that by holding certain % share of any PLC company would make you entrepreneur. You need to be Administratevlly managing the company i.e. you are the decision making authority of the company which otherwise means that you don't have a boss, you are your own boss. Although holding the share of Ltd company where you are a director of it, may qualify you for it.

daYZman
Junior Member
Posts: 50
Joined: Sat Jul 07, 2007 12:54 pm

Post by daYZman » Thu Apr 12, 2012 4:23 pm

yhdil wrote:I don't think that by holding certain % share of any PLC company would make you entrepreneur. You need to be Administratevlly managing the company i.e. you are the decision making authority of the company which otherwise means that you don't have a boss, you are your own boss. Although holding the share of Ltd company where you are a director of it, may qualify you for it.
If I were to set up a company as a team where I am the technical man, it wouldn't necessarily make me a director, right? We might be a 3-men team with a 33% share each, where my post might be CTO, Head of Engineering, Chief Product Designer, or what not. So does that mean I'd be precluded from taking up a technical role on this entrepreneur visa?

saeedusman
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Joined: Fri Jan 15, 2010 12:06 am

Post by saeedusman » Thu Apr 12, 2012 4:51 pm

daYZman wrote:So does that mean I'd be precluded from taking up a technical role on this entrepreneur visa?
These are the other requirements you are talking about now.

Technically speaking, you should be the director. I think there can more than one directors in the same company. So only two persons can benefit from one company at the same time after being declared as directors. So skip the third one and remaining two make themselves director if you are making a team.

Then you need to declare what area you are administrating and what particular field you are actively involved in.....

daYZman
Junior Member
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Joined: Sat Jul 07, 2007 12:54 pm

Post by daYZman » Thu Apr 12, 2012 5:16 pm

saeedusman wrote:
daYZman wrote:So does that mean I'd be precluded from taking up a technical role on this entrepreneur visa?
These are the other requirements you are talking about now.

Technically speaking, you should be the director. I think there can more than one directors in the same company. So only two persons can benefit from one company at the same time after being declared as directors. So skip the third one and remaining two make themselves director if you are making a team.

Then you need to declare what area you are administrating and what particular field you are actively involved in.....
Well, I'll be the director of my own company. This is another company I'm keen in joining, which is already established and has an existing team. I was just wondering whether I could take an advisorial role in that company while holding a chunk of the share. My remuneration package will mainly consist of share options.

yhdil
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Post by yhdil » Thu Apr 12, 2012 5:21 pm

daYZman wrote:
yhdil wrote:I don't think that by holding certain % share of any PLC company would make you entrepreneur. You need to be Administratevlly managing the company i.e. you are the decision making authority of the company which otherwise means that you don't have a boss, you are your own boss. Although holding the share of Ltd company where you are a director of it, may qualify you for it.
If I were to set up a company as a team where I am the technical man, it wouldn't necessarily make me a director, right? We might be a 3-men team with a 33% share each, where my post might be CTO, Head of Engineering, Chief Product Designer, or what not. So does that mean I'd be precluded from taking up a technical role on this entrepreneur visa?
As I said that you can takeover/join the LTD company but it won't work for PLC company like HSBC. Secondly, you can join the compny by purchasing the share of any LTD company but for that you need to show proper paper work such as money transfer, ownership agreement and injection of your name in the LTD company as a share holder etc

daYZman
Junior Member
Posts: 50
Joined: Sat Jul 07, 2007 12:54 pm

Post by daYZman » Thu Apr 12, 2012 5:51 pm

yhdil wrote:
daYZman wrote:
yhdil wrote:I don't think that by holding certain % share of any PLC company would make you entrepreneur. You need to be Administratevlly managing the company i.e. you are the decision making authority of the company which otherwise means that you don't have a boss, you are your own boss. Although holding the share of Ltd company where you are a director of it, may qualify you for it.
If I were to set up a company as a team where I am the technical man, it wouldn't necessarily make me a director, right? We might be a 3-men team with a 33% share each, where my post might be CTO, Head of Engineering, Chief Product Designer, or what not. So does that mean I'd be precluded from taking up a technical role on this entrepreneur visa?
As I said that you can takeover/join the LTD company but it won't work for PLC company like HSBC. Secondly, you can join the compny by purchasing the share of any LTD company but for that you need to show proper paper work such as money transfer, ownership agreement and injection of your name in the LTD company as a share holder etc
Thanks. Do you know where I could find the distinction between owing shares in PLC vs. LTD etc. and the need for showing documentation re share ownership etc. documented?

yhdil
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Post by yhdil » Fri Apr 13, 2012 11:44 am

The simple distinction is that PLC companies are the listed companies i.e. they are traded on the Stock Markets and share holders are the owners of such companies. The share holders however do not manage the company administratively.

The LTD company however can be a company owned by an individual or the group of individuals and they can exercise their management right based on the proportion of their share in the company or as per the company agreement. Anyone can form the LTD company but PLC formation requires remarkably huge investement and paper work and you can't set up the PLC company straight away; unlike the LTD company

daYZman
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Joined: Sat Jul 07, 2007 12:54 pm

Post by daYZman » Fri Apr 13, 2012 11:49 am

yhdil wrote:The simple distinction is that PLC companies are the listed companies i.e. they are traded on the Stock Markets and share holders are the owners of such companies. The share holders however do not manage the company administratively.

The LTD company however can be a company owned by an individual or the group of individuals and they can exercise their management right based on the proportion of their share in the company or as per the company agreement. Anyone can form the LTD company but PLC formation requires remarkably huge investement and paper work and you can't set up the PLC company straight away; unlike the LTD company
Sure. I actually meant whether you know of any documentation from the Home Office regarding this topic. In particular, any documentation on what you pointed out earlier.

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