Tier 1 (Entrepreneur) accelerated route taking over business

[rbuddhadev]

Hi friends,

I have got my Tier 1 (Entrepreneur) visa in Mar 16. After getting the visa I took over 2 year old business.

I am eligible for ILR accelerated route in Mar 19 by showing the increase in turnover of 5 million as compared to 3 years preceding of taking over. However in my case, the taken over company is only 2 years so my question is, will they compare 2 years accounts with qualifying 3 years accounts or they may refuse stating incomplete data available to compare.

Have any of you have faced such situation? I been trying to call them but no concrete response and asking to follow guidelines but it doesn’t state anything if previous data is less than 3 year then how UKBA will compare.

Thanks in advance

[zimba]

First of all there is no UKBA it is UKVI now. Also you cannot call HO for immigration advice and you should never listen to advice given on the phone by HO call centers as they routinely give incorrect advice.
In your case they will compare the accounts in year two and check the turnover. Then they compare it to the next years to see how much the turnover increased AFTER you joined. In your case, the turnover must have been INCREASED by £5m since you joined, so if the company's turnover was £2m before you joined, the turn over needs to be in excess of £7m for you to be eligible for accelerated ILR

[rbuddhadev]

Hi Zimba,

Thanks for swift response.

Let me share detailed overview of my case.

Company registered: Apr 14

I became Director: 15 Mar'15 (I was on Tier 1 General at that time)

Applied for Tier 1 Entrepreneur on 11th Feb'16 as I was not eligible for ILR through Tier 1 General because of long absence so switched the category.

Got my Tier 1 Entrepreneur visa on 8th Mar'18 by showing 200K investment in existing business.

Turnover wise:
2014-2015: 6m
2015-2016: 11m

2016-2017: 12 m
2017-2018: 8 m
2018-2019: Approx. 8 m again (But will be filing for ILR before annual returns as visa expiry date is 8th Mar'19, can show interim account till Feb'19 before filing the application)

Now my query is will UKVI compare these 3 years data with previous 2 years data?

What will UKVI take ? Sum of 2 years or average 2 year and make 3 years assumption to compare with qualifying 3 years ?
Secondly, I was already involved in Business from 2015 even though got visa in 2016 so what they will consider in this case?

Is there any way to get a more clear guideline for turnover comparison from UKVI on case like mine ?

Thanks

[kaps84]

@rbuddhadev, may I know what business/industry are you in?

[zimba]

What will UKVI take ? Sum of 2 years or average 2 year and make 3 years assumption to compare with qualifying 3 years ?

No. They check the turnover before you joined in, that was £11m. Then they check if in ANY year after you joined the business increased its turnover for at least £5m or more. In your case that did not happen so you are not eligible for accelerated ILR

Secondly, I was already involved in Business from 2015 even though got visa in 2016 so what they will consider in this case?

When did you become the director ?

[rbuddhadev]

I became director in March 2015, before I became director turnover was £6 million

[zimba]

So you should be able to simply rely on like 2016-2017 accounts

[rbuddhadev]

Sorry Zimba,

I am not quite clear about your reply.

Do you mean I am eligible for ILR on accelerated route or not ?

Will they consider if company don’t have 3 years of accounts before my Tier 1 visa? So in this case, they will just compare 2 years vs 3 years, correct?

[zimba]

Correct. As long as you show the turnover was increased by £5m you are eligible

[rbuddhadev]

Thank you so much for your response

Last question, can you please see below and advise if I am calculating it right.

Year1: 6m
Year 2: 10 m
Total= 6+ 10= 16 m

After visa:
Year 1: 12 m
Year 2: 8m
Year 3: 10 m
Total= 12+ 8+10 = 30m

So before visa < after visa . Total increment of 14 m after visa so I am eligible.

[rbuddhadev]

Hello everyone,

Can you please assist me with my query.

Thanks,
Rinkle