Business sold early (before Extension and/or ILR) affect?

[seasky]

Interesting issue for the forum. What would be the affect on the visa if your company is sold in the process.

Please consider the VC/hightech world where a sale is sort of the goal.

[zimba]

Interesting issue for the forum. What would be the affect on the visa if your company is sold in the process.

Please consider the VC/hightech world where a sale is sort of the goal.

This is an interesting topic but obviously overlooked by the current immigration rules. As far the rules stretch now, you need to start another business to be considered actively trading but obviously if you invested/created jobs in a business which was then sold, HO will count them as long as you were the director at that time.

[seasky]

Interesting issue for the forum. What would be the affect on the visa if your company is sold in the process.

Please consider the VC/hightech world where a sale is sort of the goal.

This is an interesting topic but obviously overlooked by the current immigration rules. As far the rules stretch now, you need to start another business to be considered actively trading but obviously if you invested/created jobs in a business which was then sold, HO will count them as long as you were the director at that time.

So say sold at 2.5 year mark. All investments and jobs already attained. Could you just take your windfall, start a new co called ABC investments (and be a director). Hire no one for now. Be open about this in covering letter about how well you did and wish to take your entrepreneurship to the next level?

[zimba]

So say sold at 2.5 year mark. All investments and jobs already attained. Could you just take your windfall, start a new co called ABC investments (and be a director). Hire no one for now. Be open about this in covering letter about how well you did and wish to take your entrepreneurship to the next level?

I am not sure what else can you do given the rules

[seasky]

What do the rules say on "actively trading"?

I would think an exit is a wonderful entrepreneurial outcome and usually spurs more entrepreneurial activity. As such HO would be happy as long as u meet the "letter of the guidance"

[zimba]

What do the rules say on "actively trading"?

I would think an exit is a wonderful entrepreneurial outcome and usually spurs more entrepreneurial activity. As such HO would be happy as long as u meet the "letter of the guidance"

Being a director/self employed within the 3 months of applying for Extension/ILR which means engaged in business according to the rules. Rules are quite blunt now as they do not count an exit as an acceptable evidence of being engaged in business (yet)

[seasky]

What do the rules say on "actively trading"?

I would think an exit is a wonderful entrepreneurial outcome and usually spurs more entrepreneurial activity. As such HO would be happy as long as u meet the "letter of the guidance"

Being a director/self employed within the 3 months of applying for Extension/ILR which means engaged in business according to the rules. Rules are quite blunt now as they do not count an exit as an acceptable evidence of being engaged in business (yet)

I full agree my point (I am asking not telling) is that as long as you are "engaged in business" (open up a new company) along with the full (good) story of the exit they will accept it.

[zimba]

I full agree my point (I am asking not telling) is that as long as you are "engaged in business" (open up a new company) along with the full (good) story of the exit they will accept it.

yes if Ho asks, you can tell them. A good exit within 3 years to me is rare but kudos to you if you make it happen