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Switching from Tier 1 GE to Tier 1 E (Urgent!)

Only for UK Tier 1 (Entrepreneur) points system. This route is now closed to new applicants.

Moderators: Casa, archigabe, CR001, push, JAJ, ca.funke, Amber, zimba, vinny, Obie, EUsmileWEallsmile, batleykhan, meself2, geriatrix, John, ChetanOjha

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Vasilisa1
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Posts: 7
Joined: Tue Sep 24, 2019 3:24 pm
United Kingdom

Switching from Tier 1 GE to Tier 1 E (Urgent!)

Post by Vasilisa1 » Thu Oct 24, 2019 1:20 pm

Dear all, I have several questions regarding switching to Tier 1 Entrepreneur visa from Tier 1 GE (Graduate Entrepreneur visa).

1) While I was in Tier 1 GE visa I have set up two LTDs (A and B). I would like to show in my application about company A, which is trading successfully and is 1 year old. I set up company A with my business partner who is currently also a Director (so there are two directors in Company A: me and my business partner).

Question: the fact that I am not a sole director of LTD, will that be a problem in my case?

2) Should I mention about my second LTD at all? I do not remember in the application form it asks about it.

3) I have held 51K in my own back account for 90 days (50K investment funds + 1K for maintenance). I am going to show one statement of 51K to prove both investments and a maintenance fund. Will this be OK?
This may sound as a very stupid question, but it is bothering me, as the document list asked for two separate documents like below:
  • Documentation to show you meet the financial requirement, for example bank or building society statements
  • Recent personal bank or building society statements, with the most recent statement being dated no earlier than 31 days before the date of application, or an official letter from each financial institution, to show the funds available to invest and that they are in the UK. If any funds were held outside the UK within the last 90 days, a letter from each overseas financial institution holding the funds to show when the funds were held in that account
I would be grateful for guidance, thank you all in advance!

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marcnath
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Joined: Tue Jul 03, 2012 3:27 pm
Location: Milton Keynes
United Kingdom

Re: Switching from Tier 1 GE to Tier 1 E (Urgent!)

Post by marcnath » Thu Oct 24, 2019 10:35 pm

Vasilisa1 wrote:
Thu Oct 24, 2019 1:20 pm
Dear all, I have several questions regarding switching to Tier 1 Entrepreneur visa from Tier 1 GE (Graduate Entrepreneur visa).

1) While I was in Tier 1 GE visa I have set up two LTDs (A and B). I would like to show in my application about company A, which is trading successfully and is 1 year old. I set up company A with my business partner who is currently also a Director (so there are two directors in Company A: me and my business partner).

Question: the fact that I am not a sole director of LTD, will that be a problem in my case?
No
Vasilisa1 wrote:
Thu Oct 24, 2019 1:20 pm

2) Should I mention about my second LTD at all? I do not remember in the application form it asks about it.
Not needed - up to you
Vasilisa1 wrote:
Thu Oct 24, 2019 1:20 pm

3) I have held 51K in my own back account for 90 days (50K investment funds + 1K for maintenance). I am going to show one statement of 51K to prove both investments and a maintenance fund. Will this be OK?
This may sound as a very stupid question, but it is bothering me, as the document list asked for two separate documents like below:
  • Documentation to show you meet the financial requirement, for example bank or building society statements
  • Recent personal bank or building society statements, with the most recent statement being dated no earlier than 31 days before the date of application, or an official letter from each financial institution, to show the funds available to invest and that they are in the UK. If any funds were held outside the UK within the last 90 days, a letter from each overseas financial institution holding the funds to show when the funds were held in that account
I would be grateful for guidance, thank you all in advance!
It is one of the documents
But should not be an issue - you can attach one original and one copy (mentioning the original is elsewhere in the document set) if you just want to meet the requirement very strictly.
My comments are in no way meant to be advisory. I have no professional knowledge of immigration. These are based on my own experience, convictions and personal interpretation of publicly available information.

Vasilisa1
Newly Registered
Posts: 7
Joined: Tue Sep 24, 2019 3:24 pm
United Kingdom

Changing Tier 1 E visa

Post by Vasilisa1 » Thu Jan 23, 2020 1:11 pm

Hi all,

I would like to thank you for all your advice in advance!

I have received Tier 1 E visa recently (December 2019) for 3 years (initial application). Applied from UK after my 2 years with Tier 1 GE visa.

I would like to transfer now to a dependent visa as my circumstances change without waiting for my Tier 1 E expiration of my Tier 1 E visa.

In this case:
1) Should I stop being director of my LTD? Should I close down LTD? The main question is can I be on a dependent visa and still hold a limited company?

2) I do self-assessment returns as self-employed. What should I do with it? it is allowed under dependent visa?

Thank you in advance!

Wikileaks
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Posts: 18
Joined: Mon Jan 13, 2020 6:49 pm
United Kingdom

Re: Changing Tier 1 E visa

Post by Wikileaks » Thu Jan 23, 2020 6:08 pm

Why not continue with your Tier 1 visa for now and maybe change to a dependant visa towards the end of its expiration date???

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zimba
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Re: Changing Tier 1 E visa

Post by zimba » Thu Jan 23, 2020 7:37 pm

Vasilisa1 wrote:
Thu Jan 23, 2020 1:11 pm
Hi all,

I would like to thank you for all your advice in advance!

I have received Tier 1 E visa recently (December 2019) for 3 years (initial application). Applied from UK after my 2 years with Tier 1 GE visa.

I would like to transfer now to a dependent visa as my circumstances change without waiting for my Tier 1 E expiration of my Tier 1 E visa.

In this case:
1) Should I stop being director of my LTD? Should I close down LTD? The main question is can I be on a dependent visa and still hold a limited company?

2) I do self-assessment returns as self-employed. What should I do with it? it is allowed under dependent visa?

Thank you in advance!
You are free to work in your business as a PBS dependant :!:
Advice is given based on my personal research and experience only. Do NOT contact me via private message for immigration advice

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