minimum tax need to be paid?

[ukshane]

Just learnt that I can switch from psw visa to ENTREPRENEUR visa for only 50000 pound, so did a little research myself. It's not very thorough yet so I need some help from you guys! Thanks in advance!

In my understanding, two people can team up to apply for this entrepreneur visa with 25000 pound in their account(oversea is acceptable as long as the bank is approved). And they each need £900 in their UK bank account to apply for the visa within UK. And the team need to register a company and become its director before applying for this visa.

(Is there's anything wrong in the passage above please tell me!)

What I want to ask it, after setting up this company, how much tax do you have to pay per year? Also I know that you have to hire two local people, does that mean two people each year? And I presume you also have to pay their tax as the company? So my question actually is how much money would you spend after you have this visa? I heard that the tax can be £50000?

Thank you so much!

[Lucapooka]

The money does not have to be split 50/50 (25K each as you have suggested). It has to 50K and all, some or none of that can be held by any individual.

Tax is proportional based on income and profit, so there is no answer to your questions. You can look on the HMRC website or speak to an accountant on the expected sums you might pay if your business turns a profit.

[sws13]

The money does not have to be split 50/50 (25K each as you have suggested). It has to 50K and all, some or none of that can be held by any individual.

I would beg to differ here... As per pera 28 page 8 of the Entrepreneur guidance note a team of entrepreneurs "Money for investment can be shared by a team of a maximum of two Entrepreneurs. Each team member may apply to come to the UK as a Tier 1 (Entrepreneur) using the same investment funds. Neither applicant must have used the same funds with any other applicant"

[Lucapooka]

I suggest you take an English comprehension course or have a eye exam before you post again.

[John]

Para 28 does indeed read :-

28.Money for investment can be shared by a team of a maximum of two Entrepreneurs. Each team member may apply to come to the UK as a Tier 1 (Entrepreneur) using the same investment funds. Neither applicant must have used the same funds with any other applicant.

So a maximum of two people, but it does not say that the funds need to be provided equally.

Members are reminded that the T&Cs of this board include :-

No use of rude or inappropriate language. One must always treat fellow posters with respect.

[rehan01]

Para 28 does indeed read :-

28.Money for investment can be shared by a team of a maximum of two Entrepreneurs. Each team member may apply to come to the UK as a Tier 1 (Entrepreneur) using the same investment funds. Neither applicant must have used the same funds with any other applicant.

So a maximum of two people, but it does not say that the funds need to be provided equally.

Members are reminded that the T&Cs of this board include :-

No use of rude or inappropriate language. One must always treat fellow posters with respect.

Well Done John,

Thanks for keeping and eye on the posts and people comments.

so of them do need to sort out there attitude as this is free forum but they have to follow the rules.

thanks once again

regards

Rehan

[Lucapooka]

If my comment was offensive why is it still intact? Furthermore, if the moderators are on-line today and are feeling inclined to be vigilant, they may wish to click on the unanswered post link once in a while and remove all the spam.

[rehan01]

The money does not have to be split 50/50 (25K each as you have suggested). It has to 50K and all, some or none of that can be held by any individual.

I would beg to differ here... As per pera 28 page 8 of the Entrepreneur guidance note a team of entrepreneurs "Money for investment can be shared by a team of a maximum of two Entrepreneurs. Each team member may apply to come to the UK as a Tier 1 (Entrepreneur) using the same investment funds. Neither applicant must have used the same funds with any other applicant"

Hi Sws13,

you can form a team which can have maximum of 2 team members.

50k funds only if you and your team member both have psw visa if your team member is not on psw than you need to apply under 200k category as you can only form 50k team category if both team members are on psw visa.

25k / 25k is not a requirement as long as you have excess to total 50k of funds available either in uk bank or abroad and both team member have equal excess to the available funds.

hope it help

kind regards

Rehan

[sws13]

The money does not have to be split 50/50 (25K each as you have suggested). It has to 50K and all, some or none of that can be held by any individual.

I would beg to differ here... As per pera 28 page 8 of the Entrepreneur guidance note a team of entrepreneurs "Money for investment can be shared by a team of a maximum of two Entrepreneurs. Each team member may apply to come to the UK as a Tier 1 (Entrepreneur) using the same investment funds. Neither applicant must have used the same funds with any other applicant"

Hi Sws13,

you can form a team which can have maximum of 2 team members.

50k funds only if you and your team member both have psw visa if your team member is not on psw than you need to apply under 200k category as you can only form 50k team category if both team members are on psw visa.

25k / 25k is not a requirement as long as you have excess to total 50k of funds available either in uk bank or abroad and both team member have equal excess to the available funds.

hope it help

kind regards

Rehan

Hello Rehan,

I never said it is a requirement that investment funds be divided between the team members... I just tried to explain that if both partners each have 25/25 thousand GBP they can too team-up and apply (for PSW visa holder of course). I am saying this because there is no such information either that the money should be held altogether. I am sorry if someone being offended here, I never meant that

[rehan01]

The money does not have to be split 50/50 (25K each as you have suggested). It has to 50K and all, some or none of that can be held by any individual.

I would beg to differ here... As per pera 28 page 8 of the Entrepreneur guidance note a team of entrepreneurs "Money for investment can be shared by a team of a maximum of two Entrepreneurs. Each team member may apply to come to the UK as a Tier 1 (Entrepreneur) using the same investment funds. Neither applicant must have used the same funds with any other applicant"[/quote

Hello Rehan,

I never said it is a requirement that investment funds be divided between the team members... I just tried to explain that if both partners each have 25/25 thousand GBP they can too team-up and apply.

Hi,

If both team members on psw visa and submit in country application than yes if not than no.

[sws13]

I would beg to differ here... As per pera 28 page 8 of the Entrepreneur guidance note a team of entrepreneurs "Money for investment can be shared by a team of a maximum of two Entrepreneurs. Each team member may apply to come to the UK as a Tier 1 (Entrepreneur) using the same investment funds. Neither applicant must have used the same funds with any other applicant"[/quote

Hello Rehan,

I never said it is a requirement that investment funds be divided between the team members... I just tried to explain that if both partners each have 25/25 thousand GBP they can too team-up and apply.

Hi,

If both team members on psw visa and submit in country application than yes if not than no.

I totally agree Rehan... I just posted the edited version on top. Apologies as I am new on this forum

[rehan01]

No problem sir and good luck with your application

[sws13]

No problem sir and good luck with your application

Many thanks

[rehan01]

No problem sir and good luck with your application

Many thanks

My pleasure and if you need any help feel free