Investment before visa

Firststep · Post by **Firststep** » Fri Mar 15, 2013 11:12 am

Hi All,

I’ll be grateful if anyone please clear these points.

I am planning to apply for TIER 1 Entrepreneur under 200K category. But have few questions in mind

1. Is it possible to buy a business of 100K before visa and show rest of 100 K in my bank account? My understanding is that you should have invested or will invest 200K in any business.

2. I am planning to buy a Private Hire/Cab Business in London but someone told me that to get the License of operating this business one should have the valid visa which obviously I don’t have. This is not UKBA requirement but PCO (Public carriage office) needs the valid visa.

3. In case I buy any other business like food chain or retails store how I would show the amount invested. I mean Sale deed is OK or do I need to provide any other papers/Assessment or accountant papers.

Thanks

Post by **Lucapooka** » Fri Mar 15, 2013 12:59 pm

At the 200K capital threshold, it is not necessary to make the actual investment before applying. However, if you do make an investment before you apply, that will be considered if it is less than 12 months ago.

Firststep · Post by **Firststep** » Fri Mar 15, 2013 1:05 pm

Thanks Lucapooka

Could you please my other points if possible

Post by **Lucapooka** » Fri Mar 15, 2013 1:08 pm

2. I have no idea about the requirements set out by the PCO but it sounds completely wrong to suggest that a UK business can't have a foreign owner who does not have residence permit in the UK. I'm talking about being a director of a business here, rather than being a driver. Clearly a cab driver would be working in the UK and need permission to do that.

3. The guidance and Attributes Section A of the immigration rules clearly indicate the standard and scope of the evidence to show an investment has been made.........but unless it's the deal of a lifetime that you are going to miss if you don't act now, why not simply wait until the visa is granted before you run around spending your money?

Firststep · Post by **Firststep** » Fri Mar 15, 2013 1:47 pm

Yes I would be working as director and actually its a good opportunity so i was thinking on these lines. Suppose I would go for other business like food chain or cafe. What documents I need to prove the amount of Investment. Like there is one takeaway for sale at bout £80000 GBP. It includes one year lease , some fixtures and goodwill . So If I present the sale reciept would that be enough?

Post by **Lucapooka** » Fri Mar 15, 2013 3:17 pm

Firststep wrote:What documents I need to prove the amount of Investment.

Lucapooka wrote:The guidance and Attributes Section A of the immigration rules clearly indicate the standard and scope of the evidence to show an investment has been made

rizwan567 · Post by **rizwan567** » Fri Mar 15, 2013 3:39 pm

Lucapooka wrote:At the 200K capital threshold, it is not necessary to make the actual investment before applying. However, if you do make an investment before you apply, that will be considered if it is less than 12 months ago.

Which visa are you on currently?

Post by **Lucapooka** » Fri Mar 15, 2013 3:44 pm

Rizwan, I am not subject to immigration control in the UK, nor am I currently a resident of the UK. I wonder why you are citing my comments; effectively directing your question at me rather than the person who started this thread.

rizwan567 · Post by **rizwan567** » Fri Mar 15, 2013 4:14 pm

Oh, I am so sorry... I was looking to ask this question from the 'Firststep' but I wrongly quoted your reply........ Apologies.

The reason I was asking this to establish if immigration status of 'Firststep' is allowing him to be directly involved in business activities???

Firststep · Post by **Firststep** » Fri Mar 15, 2013 5:48 pm

I am resident of Pakistan. But have been visiting UK for Many years and have some knowledge of businesses in UK. I was thinking to buy the cab office but not sure how to do it. Secondly still waiting for the answer how to prove 100K investemnt. I'll be showing rest of the money in my account. I might have to contact Solicitor
Thanks to Lucapooka

Firststep · Post by **Firststep** » Fri Mar 15, 2013 5:49 pm

I am resident of Pakistan. But have been visiting UK for Many years and have some knowledge of businesses in UK. I was thinking to buy the cab office but not sure how to do it. Secondly still waiting for the answer how to prove 200

Firststep · Post by **Firststep** » Sat Mar 16, 2013 8:49 am

Any legal advise. Please help!

1. how to buy a business from overseas. Could we appoint anyone to act on our behalf (power of attorney).

2. Documents required for Buying a business.

3. What documents we have to show to high Commission as an investment tp prove the worth /Value of Business.

4. I am planning to buy a business of £ 80K -100K and will show rest of money in my account to prove total of 200K for Tier 1 ent visa

Thanks

Post by **Lucapooka** » Sat Mar 16, 2013 9:23 am

Apart from 3, which has already been answered, these questions are not relevant to immigration. You might be better searching for a business-related forum.

With regard to 3, that entirely depends on the type of entity and your interest in that entity so there is no straight answer and only you will know and can follow the guidance (previously linked).

Post by **vinny** » Sat Apr 13, 2013 2:22 pm

Firststep wrote:Hi,

Just wanted to confirm that is it possible to buy a business of food chain or Taxi business etc in Uk without having resident permit. though visited UK many times and well aware of Market.

If yes the what are the basic requirments.

Thanks

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