VC money transfer

[Mehfuz]

Hi Experts
1.As I have moved to UK on VC50k route, i am a bit confused on what type of company to set up. Should I register a sole proprietorship ltd company and then ipen business acc on that company and then get a transfer from vc in that account? My accountant tells me that but i want to make sure because my accountant has already let me down once.

2. Should I then apply for NI number? Because when i already went for NI appointment, they said firat i open the company and then apply for NI.

3. I am planning to open a garment factory which will take orders from buyers who are selling large quantities online. And i am going to process those orders via CMT units who will make Garments for me.
I hope this does not create any problems in extension.

4. My account was telling me that there is no more 10 jobs creation accelerated route, is that true? He said i will have to turn over 5 million to apply for that route. Please advise . And is 5 million over a year or 3 years?

Thanks in advance..
Regards
Mehfuz

[Mehfuz]

@Mcnarcth @CR001 please help in above mentioned questions!!

[marcnath]

Hi Experts
1.As I have moved to UK on VC50k route, i am a bit confused on what type of company to set up. Should I register a sole proprietorship ltd company and then ipen business acc on that company and then get a transfer from vc in that account? My accountant tells me that but i want to make sure because my accountant has already let me down once.

That is confusing. There is no such thing as a "sole proprietorship ltd company". Anyway, the type of company has no impact on the extension of ILR criteria.

2. Should I then apply for NI number? Because when i already went for NI appointment, they said firat i open the company and then apply for NI.

Again, irrelevant under the immigration rules. The rules only require that you register as self-employed or as a Director of a company within six months of entry

3. I am planning to open a garment factory which will take orders from buyers who are selling large quantities online. And i am going to process those orders via CMT units who will make Garments for me.
I hope this does not create any problems in extension.

Why should it ?

4. My account was telling me that there is no more 10 jobs creation accelerated route, is that true? He said i will have to turn over 5 million to apply for that route. Please advise . And is 5 million over a year or 3 years?

Thanks in advance..
Regards
Mehfuz

No true - both are still available. Turnover is over the three years

[Mehfuz]

Thank You so much Mcnarth!!

You guys have been so helpful.
@Mcnarcth, can You please share a link to 10 employees accelerated route guidelines here. That would really help me.

Regards
Mehfuz

[CR001]

Google not working for you to search for the tier 1 ent policy guidance???

https://assets.publishing.service.gov.u ... -_0319.pdf