close business and bankruptcy

[karim12345]

hi to all
please if any one can help me in my problem i have got some problems in my business and i want to know how to solve it and what is the best way for it

1--first of all . i was planning to have franchise to start my business but there is a many problems in the place that i have to take for this franchise and they didn't help me to find good one so i will go to another business but i want to know if it is OK
the business that i am planning to run will be a shop i will buy and i will rent it to another company or chain like( h&m or timberland )some like this and i will put the require money for buying this shop i read this option in some where in site that i can buy shop in mall foe ex. and then rent this shop and i want to know if that correct or no to help me in my visa extension and if it is ok is there any thing in this that i have to put my eye on it or just a good space in good location

2-- the second thing if i alredy run the shop or run small company and if they arent get any profit or very limit profit is that alright for the visa or there is a requirement number for the profit ...note i will pay all taxes and insurance and i will employ 2 British people and pay for them all the requirements

3-- can i employ my mother if she is a British citizen and my step father as well

4-- can i employ a same person in my 2 companies but in diff rant job in each company for ex. he will be accountant in one of them and will be supervisor in another and i will pay him in each company separate

5--- can i get a British partner or share holder in any of my companies

thax for your time and help ....
thx very much

[marcnath]

1--first of all . i was planning to have franchise to start my business but there is a many problems in the place that i have to take for this franchise and they didn't help me to find good one so i will go to another business but i want to know if it is OK

Sure, it is ok to do another business.

the business that i am planning to run will be a shop i will buy and i will rent it to another company or chain like( h&m or timberland )some like this and i will put the require money for buying this shop i read this option in some where in site that i can buy shop in mall foe ex. and then rent this shop and i want to know if that correct or no to help me in my visa extension and if it is ok is there any thing in this that i have to put my eye on it or just a good space in good location

It is up to you, your Visa does not prevent you from doing such a business.
But remember that any money you use to buy the business will not count towards your 200K investment.
- Money that goes to the existing owner of the shop is not considered investment into a business
- Money used for property management (buy to rent) cannot be included in the investment money

2-- the second thing if i alredy run the shop or run small company and if they arent get any profit or very limit profit is that alright for the visa or there is a requirement number for the profit ...note i will pay all taxes and insurance and i will employ 2 British people and pay for them all the requirements

There is no requirement to be profitable.

3-- can i employ my mother if she is a British citizen and my step father as well

Yes

4-- can i employ a same person in my 2 companies but in diff rant job in each company for ex. he will be accountant in one of them and will be supervisor in another and i will pay him in each company separate

Yes

5--- can i get a British partner or share holder in any of my companies

Yes

[karim12345]

Thx very much ..for your help

[karim12345]

hello every one

as i asked befor that i have to change my business because tne franchise that i was planning to open is very bad the franchise didnt help me to find the site and we spend lot of time for that i alredy looked for many sites my self . but want to ask that if i have another franchise it will be a food franchise the question is do the food franchise is good for the entrepreneur visa ..because some one told me that it will not help you in your visa extend it is a week business .. and another one advice me to make the business becau se i dont have to wait for the old franchise that i took first when i come and i have to start any business as soon as i can ....so dont know waht is the right thing if the food franchise is good to my visa i will make it but i want to be sure that it is good ?
the main question is the food franchise good to my enter pruner visa when i make the extend?

[CR001]

Topics Merged (click)

[tier1entrepreneur-A]

hello every one

as i asked befor that i have to change my business because tne franchise that i was planning to open is very bad the franchise didnt help me to find the site and we spend lot of time for that i alredy looked for many sites my self . but want to ask that if i have another franchise it will be a food franchise the question is do the food franchise is good for the entrepreneur visa ..because some one told me that it will not help you in your visa extend it is a week business .. and another one advice me to make the business becau se i dont have to wait for the old franchise that i took first when i come and i have to start any business as soon as i can ....so dont know waht is the right thing if the food franchise is good to my visa i will make it but i want to be sure that it is good ?
the main question is the food franchise good to my enter pruner visa when i make the extend?

Hi Karim,

As far as I'm aware, There are no restrictions on the business type other than the ones we already know about (property, ...), so any type of business will be acceptable for your extension when you cover all the other requirements/restrictions,

In short, Do the business you find it suitable for you (following the visa regulations), and It should be OK,

In my opinion, Follow the visa rules, and you should get the visa extension successfully,

All the best.

[seasky]

A food franchise is a very legitimate business. I have heard anecdotally that HO is being more limiting during initial visas on small restaurants i.e. you have to have a stronger BP. But this has no bearing to extension.

Be very careful when hiring your mother. HO is aware of "wink wink" hiriing of family members, that do not actually to a job and money funnels back to T1e visa holder

[marcnath]

the main question is the food franchise good to my enter pruner visa when i make the extend?

As an entrepreneur you are asking the wrong question.
If the reason for choosing a business is that it is good for your visa extension, you have a high probability of failing the genuine entrepreneur test.
Choose the business that you think makes sense from you passion, from your expertise and the market situation and you will be much better off with the extension application.

[karim12345]

thax for your advise ...but honestly i am very desperate because i have been looking for good site to make my business and i didn't found any and that because the franchise that i want to make business with make some conditions to the site in like the place has to be in good area and the size must be big as 6000 sq f and must be D2 so i cant find until now any thing and they just help me little bet on that and they have many many franchisee that didn't start yet but it is not big problem with them because they are UK citizen but i have to start business because the time is running i make all my effort to find site but big one like this is very difficult for this i want to search for another business and the food business i think it is successful one for me and UK an visa >>>>>

if you give me any ideas that i can make it as business and it is easy to start and will be good for me and for my investment it will be helpful and i will appreciate this

and about my qualification i have good back ground about customer relation management and about HR and in the teaching filed and good experience in management so i can run most kind of business >>>> i wonder if there is good business can i started quickly and in the same time good for all parts ...

[marcnath]

Sorry, much as I would like to help you,this is not something I can go into. Happy to help on the immigration aspects but the business aspect is something that is personal to you so definitely not something that can be done in a forum like this.

[karim12345]

Hi every one

First of all thank u all for your advice that helped me so much

Now i am in prossis to invest the money 200k
But becase of my condition that i faced many problems to find good site to start my business
And my time is running out so the franchisor that i deal with offerd me that there isa other franchise that alrady have the site but he cant start yet because he dont have enough funds to start .so i can go with him as i have the cash ready to spend .. and i will be with him in his company as share holder.
My question to be sure ..
Can i go with him in thise share ?

NOTE :

1- i have my company that i creat when i came to the uk ..but he will add me in his company as director to meet the visa requirements

2- the share will be 70% for me and 30% for him

3-the leas agreement will be in the nam of his company that i will be a director in it with 70%

4-he will open business account for this company and i will transfer the money from my pesonal account to the company account

5-we will sign a share agreement.as we will sign the leas agreement

The question here is that ok to do this share?

Is there any another thing that i have to do more to meet the visa requirements and to be in goid position?

Is there any other advice to me

Thx very much

[CR001]

Topics Merged (click)

[marcnath]

Nothing in what you say seems to be a problem for the visa

[tier1entrepreneur-A]

Hi every one

First of all thank u all for your advice that helped me so much

Now i am in prossis to invest the money 200k
But becase of my condition that i faced many problems to find good site to start my business
And my time is running out so the franchisor that i deal with offerd me that there isa other franchise that alrady have the site but he cant start yet because he dont have enough funds to start .so i can go with him as i have the cash ready to spend .. and i will be with him in his company as share holder.
My question to be sure ..
Can i go with him in thise share ?

NOTE :

1- i have my company that i creat when i came to the uk ..but he will add me in his company as director to meet the visa requirements

2- the share will be 70% for me and 30% for him

3-the leas agreement will be in the nam of his company that i will be a director in it with 70%

4-he will open business account for this company and i will transfer the money from my pesonal account to the company account

5-we will sign a share agreement.as we will sign the leas agreement

The question here is that ok to do this share?

Is there any another thing that i have to do more to meet the visa requirements and to be in goid position?

Is there any other advice to me

Thx very much

Hi Karim,

My understanding is that we as tier 1 Entrepreneur visa holder are not allowed to spend part of the 200K to pay for a franchise, we can pay them any amount above our basis investment (£200K),

So make sure that your £200k investment (or any of them) will NOT be spent to pay a franchise company,

Other members can correct me if what I'm saying is not accurate,

All the best.

[marcnath]

Hi Karim,

My understanding is that we as tier 1 Entrepreneur visa holder are not allowed to spend part of the 200K to pay for a franchise, we can pay them any amount above our basis investment (£200K),

So make sure that your £200k investment (or any of them) will NOT be spent to pay a franchise company,

Other members can correct me if what I'm saying is not accurate,

All the best.

This is totally bad and incorrect advice with no basis whatsoever

Not sure where you get this kind of information, but the only thing worse than not contributing is contributing wrong information.

[tier1entrepreneur-A]

Hi Karim,

My understanding is that we as tier 1 Entrepreneur visa holder are not allowed to spend part of the 200K to pay for a franchise, we can pay them any amount above our basis investment (£200K),

So make sure that your £200k investment (or any of them) will NOT be spent to pay a franchise company,

Other members can correct me if what I'm saying is not accurate,

All the best.

This is totally bad and incorrect advice with no basis whatsoever

Not sure where you get this kind of information, but the only thing worse than not contributing is contributing wrong information.

My apologise, if what I said above is incorrect,

I have already stated that Karim need to check before taking an action following my advice/understanding,

Does what you saying Marcnath means that we can pay from the £200k to a franchise company?,

Best Regards.

[marcnath]

Hi Karim,

My understanding is that we as tier 1 Entrepreneur visa holder are not allowed to spend part of the 200K to pay for a franchise, we can pay them any amount above our basis investment (£200K),

So make sure that your £200k investment (or any of them) will NOT be spent to pay a franchise company,

Other members can correct me if what I'm saying is not accurate,

All the best.

This is totally bad and incorrect advice with no basis whatsoever

Not sure where you get this kind of information, but the only thing worse than not contributing is contributing wrong information.

My apologise, if what I said above is incorrect,

I have already stated that Karim need to check before taking an action following my advice/understanding,

Does what you saying Marcnath means that we can pay from the £200k to a franchise company?,

Best Regards.

Yes, paying a franchiser is a valid business expense. But if you are buying a business from another franchisee (money going to previous owner) then it is not.

To your credit, you did mention others can correct you. But it is still better not to give unsure advice because it is always possible someone else would not notice it.

[karim12345]

Hi guys
Thank u for all your advice aprectiat very much

What happened here that i started the busines
With my partners . in our busines plane we have to hire about 5 staff ..And i want to be involve in the busines .

1- i wonder if can i take
One from the 5 jobs that we will hire . And when this hapen can i take the salary that we plane to in the busines plane for this job ?

2- can i make payslip for me , or it can be under any diffrant name insted of salary
And if it is ok what is the name for this to be

3- if its alright , can i take it cash or have to be with bank transfer or dosent mattar ..

Or it can be like this and i cant do it .because i am director

And do the guide explain this in any section

Thx

[hollan]

1- i wonder if can i take
One from the 5 jobs that we will hire . And when this hapen can i take the salary that we plane to in the busines plane for this job ?

Ans: Yes you can work for your Business and Draw the salary for yourself

2- can i make payslip for me , or it can be under any diffrant name insted of salary
And if it is ok what is the name for this to be

Ans: Yes you can be on your Business payroll and generate payslips

3- if its alright , can i take it cash or have to be with bank transfer or dosent mattar

Ans: Salary has to be done via Bank Transfer

[TheRock9]

Hi,

But i think if you're not generating enough revenue and just withdrawing the salaries, this can raise concerns of whether it is a legitimate Business or not.

Rest senior members can shed more light on this.

Thanks

[Faheemryk]

1- i wonder if can i take
One from the 5 jobs that we will hire . And when this hapen can i take the salary that we plane to in the busines plane for this job ?

Ans: Yes you can work for your Business and Draw the salary for yourself

2- can i make payslip for me , or it can be under any diffrant name insted of salary
And if it is ok what is the name for this to be

Ans: Yes you can be on your Business payroll and generate payslips

3- if its alright , can i take it cash or have to be with bank transfer or dosent mattar

Ans: Salary has to be done via Bank Transfer

Agree with you on all answers, except last one.

It’s much better to transfer salary via bank transfer. But it can be withdraw in cash as well.

[karim12345]

thx u for your advice
But did the guide explane this or mention it in any section

[marcnath]

What happened here that i started the busines
With my partners . in our busines plane we have to hire about 5 staff ..And i want to be involve in the busines .

Interesting - maybe it is the language. Are you saying that in the original business plan, you were not supposed to be involved in the business ? And have you not been involved so far ?

1- i wonder if can i take
One from the 5 jobs that we will hire . And when this hapen can i take the salary that we plane to in the busines plane for this job ?

Yes, there are no problems with that. But your job is not counted towards the required 24 month job creation.

2- can i make payslip for me , or it can be under any diffrant name insted of salary
And if it is ok what is the name for this to be

Sure no problem. You can also pay yourself as dividends - up to you. Talk to your accountant.
If your business has not made enough sales to cover your salary, HO may deduct that amount from your investment.

3- if its alright , can i take it cash or have to be with bank transfer or dosent mattar ..

Either one is fine. But bank transfer is always cleaner.

[karim12345]

Morning all

now i opend my business from couple a month and i have 4 workers
- Manager
-Assistant manager
-and 2 sales
they are working for3 months until now

i want to replace the manager because he inst good in his job. but when i was reading in the guide in the worker section i found some confusing points ,

1- that the worker have to be in the job for 12 months continuously
2-do i have to create 1 full time and 2 part time ... or just 2 full time job


and for the worker if he was doing well performance and before i get prepared to the extension he is starting to be not as usual or not performing well or even he want to leave me to go another job and he didnt complete the 12 month continuously as he was working for 3 months and i want to apply for the extension i thought that if i will replace him it will be ok but it will take time for making interviews to choose manager and it may takes 2 or 3 weeks or more and this period will effect me in the time because i have short time to apply for my extension and if i found a manager after 2 weeks did the period that the old manager worked in my business will count in the 12 months or we will start new 12 month with the new manager

and do the home office count the 12 month in working hours or 52 weeks

thanks for all

[marcnath]

1- that the worker have to be in the job for 12 months continuously

Can you please type here the exact part that says this.