T1E extension visa granted 7days after post the documents

[917700]

Hi

I am about to submit my extension application. However, i paid myself £ 30k salary during the 3 years initial visa period.

My question is, do i need to put £200k or £ 230k investment funds?

Many thanks

[tier1entrepreneur-A]

Good Evening,

What's your company account saying during the last three years?, Profit/loss?, what's your turnover every year?

I think that this will affect the advice.

[917700]

Hi

The first company didn't make any profit and still has a big loss. I get paid £7,000 from first company.

The second company is growing rapidly, but there was not too much profit left because i am keep expending the business. I paid myself £23,000 from second company

I have invested 100k via director loan. Currently, i still need to put more funds into the company before i submit the extension application. I am confusing with how much more funds do i need to put into the business.

Thanks

[917700]

Follow to the last post.

The first company had around £20,000 turnover and the second company had around £300k to £400k turnover.

[marcnath]

Follow to the last post.

The first company had around £20,000 turnover and the second company had around £300k to £400k turnover.

If the company had 300-400K turnover, taking a salary should not be an issue. You are paying yourself from the revenue, not the investment

[917700]

Thanks for your advice.

I remember, a couple years ago, the guidance said you need to put more investment funds into the company if you take salary. Somehow, i can't find this content in the latest guidance.

[marcnath]

Thanks for your advice.

I remember, a couple years ago, the guidance said you need to put more investment funds into the company if you take salary. Somehow, i can't find this content in the latest guidance.

There was never any such requirement, so that's the reason you can't find it.

All that the immigration rules (245D (c)(ii)) states is that money "invested" excludes spending on the applicant’s own remuneration.

Since you are paying your remuneration from revenue, your invested money remains invested - at least that is my interpretation.

[917700]

Hi

Just want to share my recent experience with you.

I submitted application form online on 14th March, posted documents on 27th March. Then, I granted my visa on 4th April.

Super fast!!!

[jonser]

Hi

Just want to share my recent experience with you.

I submitted application form online on 14th March, posted documents on 27th March. Then, I granted my visa on 4th April.

Super fast!!!

Wow...this is impressive. Congratulations. I am still waiting for the outcome of mine which I submitted at the end of November 2018. It is nerve racking to say the least.

[SuganS]

Congrats,
We are on Tier 1 Entrepreneur 50K and our extension is on this month, it ll be very helpful & kind, if u could guide/share what all the necessary documents have to be attached with the extension form.

Regards,
Sugan S.