Should the 200k be fully invested during the first 3 years?

[humanist3]

Dear experts,

In our business plan, we believe that less than 200k will be needed to achieve the employment target for visa renewal.

So in case by the end of the third year of starting the business, the business had spent less than 200k in operating cost and relied mostly on profit generated from the operation, will this disqualify me from renewing the visa even if two jobs were created?

Also, what about applying for ILR after the 3 years having created the needed 10 jobs? Should I demonstrate that the 200k has been fully invested too?

Thanks for your help

[Lucapooka]

Please refer to the attributes table for extensions. You will not score 20 points if you have not invested the full amount at the time you apply. Your second is already answered as ILR only comes after an extension is granted (and for which you would have already invested the full amount).

[humanist3]

Thanks Lucapooka. According to the table, it is possible that I can actually collect the needed 75 point without earning the 20 points for investing the 200k. This can be achieved through:

Registered a new business in which you are a director : 20 points
You are engaged in a business activity at the time of application: 15 points
Have established a business that has created two new jobs: 20 points
English language proficiency: 10 points
Maintenance : 10 points

Total = 75

Can you please confirm that this is possible?

[Lucapooka]

No, it's not possible. If you are looking at the guidance you can see that section B does not apply if you already have leave as a Tier 1 (Ent).

This does not apply where your last grant of leave prior to the grant of leave that you currently have was as a Tier 1 (Entrepreneur) Migrant, a Businessperson or an Innovator.


For extensions, it's better (and easier) if you refer yourself to paragraph 37 and Table 5 of appendix A of the immigration rules.


http://www.ukba.homeoffice.gov.uk/polic ... appendixa/

[humanist3]

Thanks for your pointing our this crucial point. According to Table 6 in the link, if I create 10 jobs in 3 years, the condition for investing the 200k is not necessary if I want to apply for the Indefinite Leave to Remain (IDR) since it is not listed in table 6?

I guess my question is what should I do at the end of the 3 years if I haven't used up the 200k in the business?

[Lucapooka]

You mean in the event that you have not hired 10 workers? You would have to complete the investment to continue in that category, or find a new category, or discontinue your residence in the UK (where you could still be the owner of the business and make regular visits but have no residence rights)

[Celina]

You mean in the event that you have not hired 10 workers? You would have to complete the investment to continue in that category, or find a new category, or discontinue your residence in the UK (where you could still be the owner of the business and make regular visits but have no residence rights)

Thanks for bringing this point , i am also confused about it . As per what i understand is it that" if we have not invested 200000 in 3 years but employed 10 people in 3 yrs span , then too we are eligible for ILR " ? please correct me if i am wrong .

[humanist3]

Thanks Lucapooka, In addition to the question above from Celina:

1- What if one of the investors committing the 200k is UK based? Will this count ?

2- Can we add new investors within the 3 years to our shareholders and replace investors who were initially mentioned in the original submission?

Thank you again for your insightful comments

[Lucapooka]

1. Count in what way?
2. If you apply for the visa showing proof of 200K from one source but end up investing 200K from a different source, that is okay.

[humanist3]

Thanks for your reply Lukapooka. I meant if the 200k committed for investment was made by a UK citizen and the funds are already in a UK based bank, will these funds be accepted or it must be funds from a foreign bank and by a non British citizen?

Thanks for your help

[Lucapooka]

Makes absolutely no difference.

[humanist3]

Thank you very much Luckapooka

[Celina]

Hello Luckapooka ,

Can you please let me know if in the later stage instead of investing 200k if we employ 10 people in 3 yrs span , will that also count towards getting ILR ? OR INVESTMENTOF 200K IS THE ONLY OPTION FOR FURTHER EXTENSION ?
Please if you can reply to this i will be very grateful to you as its very important for me .
Thanking you for your time .

[Lucapooka]

The visa is granted for 3 years. ILR can be earned in 3 years or 5 years.

If, during the three year period, you employ 10 you can apply for ILR without having made the investment.

If, during the period, you have not employed 10, you will need to extend your leave to complete five years. To make that extension you need to have made the investment.

[maverick_76]

If, during the three year period, you employ 10 you can apply for ILR without having made the investment.

For what duration do these 10 employees need to be employed? Is it 12 months or all three years?

[maverick_76]

If it is for 12 months, does that mean you can show 5 jobs for 2 years so that aggregate employment created is equivalent to 10 jobs?

[Lucapooka]

Read section D of the guidance.

[Celina]

Thank you Luckapooka for your answer .