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TIER 1 EXTENSION APPLICANTS PLEASE JOIN HERE

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

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

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MTZ510
Member of Standing
Posts: 312
Joined: Wed Feb 27, 2013 11:24 am
Location: Leeds, United Kingdom

Post by MTZ510 » Tue Dec 10, 2013 4:47 pm

Following are my details;

1- Tier 1 Visa 200 K outside UK.
2- Entrepreneur Team
3- Visa issued in July 2013
4- Entered UK in November 2013
5- Incorporated a company with two directors
6- Will transfer funds in Business bank account after sorting our Directors Loan Agreement.

My questions are;

1- As we are a team should we sign separate directors loan agreement of 100K each or we can sign a joint directors loan agreement of 200K.
2- What should be the tenure of Directors Loan Agreement?
3- We are investing say 50K in first year, and then increase the investment into the business as and when required, in this case i believe that the directors loan agreement should be made in the last year before extension when entire 200 K has been invested. Is my understanding correct? what should be the date on the Directors Loan Agreement?
4- Based on my entry in Uk i assume that my extension will be due in November 2016. Is it correct?

Thanks

educators
Member
Posts: 114
Joined: Wed Dec 05, 2012 11:17 pm

Post by educators » Wed Dec 11, 2013 11:10 pm

MTZ510 wrote:Following are my details;

1- Tier 1 Visa 200 K outside UK.
2- Entrepreneur Team
3- Visa issued in July 2013
4- Entered UK in November 2013
5- Incorporated a company with two directors
6- Will transfer funds in Business bank account after sorting our Directors Loan Agreement.

My questions are;

1- As we are a team should we sign separate directors loan agreement of 100K each or we can sign a joint directors loan agreement of 200K.
2- What should be the tenure of Directors Loan Agreement?
3- We are investing say 50K in first year, and then increase the investment into the business as and when required, in this case i believe that the directors loan agreement should be made in the last year before extension when entire 200 K has been invested. Is my understanding correct? what should be the date on the Directors Loan Agreement?
4- Based on my entry in Uk i assume that my extension will be due in November 2016. Is it correct?

Thanks
1- Preferably Separate.
2- Preferably 3 Years.
3- Agreement should be signed in the beginning and date should be the one when you provide loan to the business. Speak to your accountant for additional investment to be entered in the loan agreement after certain time.
4- Yes November 2016.

buntyz
Member
Posts: 126
Joined: Tue Feb 07, 2012 12:01 am
Location: wales

Re: TIER 1 EXTENSION APPLICANTS PLEASE JOIN HERE

Post by buntyz » Mon Dec 30, 2013 12:13 am

Hi guys
i have query reg tier 1 entrepreneur ext.
1.if i will employ 5 full time staff for 2 yrs can i apply for ILR for straight as per their for ILR. they require 10 full time staff for 1 yrs.will UKBA consider 5 full time staff for 2 yrs to 10 full time for 1 yr.
any reply will be much appreciated

Entrepreneur9
Member of Standing
Posts: 290
Joined: Sat Mar 02, 2013 11:14 pm

Re: TIER 1 EXTENSION APPLICANTS PLEASE JOIN HERE

Post by Entrepreneur9 » Thu Jan 30, 2014 10:47 am

buntyz wrote:Hi guys
i have query reg tier 1 entrepreneur ext.
1.if i will employ 5 full time staff for 2 yrs can i apply for ILR for straight as per their for ILR. they require 10 full time staff for 1 yrs.will UKBA consider 5 full time staff for 2 yrs to 10 full time for 1 yr.
any reply will be much appreciated

yes - 5 full time staff for 2 yrs to 10 full time for 1 yr

cappachino
Member of Standing
Posts: 490
Joined: Mon Mar 25, 2013 9:24 pm
Location: LONDON

Re: TIER 1 EXTENSION APPLICANTS PLEASE JOIN HERE

Post by cappachino » Thu Jan 30, 2014 11:44 am

Any one on tier 1 200 k category extention due 2016

confused90
Member
Posts: 164
Joined: Fri Aug 17, 2012 10:30 pm

Re: TIER 1 EXTENSION APPLICANTS PLEASE JOIN HERE

Post by confused90 » Fri May 09, 2014 10:42 am

cappachino wrote:Any one on tier 1 200 k category extention due 2016
Lots of us, including mine.

cappachino
Member of Standing
Posts: 490
Joined: Mon Mar 25, 2013 9:24 pm
Location: LONDON

Re: TIER 1 EXTENSION APPLICANTS PLEASE JOIN HERE

Post by cappachino » Fri May 09, 2014 7:35 pm

Can anyone share the list of documents required for extention

ishfaqsangra
- thin ice -
Posts: 866
Joined: Wed Aug 14, 2013 11:10 pm
Pakistan

Re: TIER 1 EXTENSION APPLICANTS PLEASE JOIN HERE

Post by ishfaqsangra » Fri May 09, 2014 9:30 pm

still wait no one is yet ready or have any experience of extension applicatipn

samaygrg
Senior Member
Posts: 607
Joined: Sun Jun 10, 2012 12:12 am
Location: United Kingdom

Re: TIER 1 EXTENSION APPLICANTS PLEASE JOIN HERE

Post by samaygrg » Sat May 10, 2014 1:28 pm

still 2 years to go..but definitely will b active in this discussion..good idea.

sambhave
Newly Registered
Posts: 4
Joined: Mon Apr 07, 2014 8:09 pm

Re: TIER 1 EXTENSION APPLICANTS PLEASE JOIN HERE

Post by sambhave » Mon May 12, 2014 9:00 pm

Mine is due as well in 2016...cud someone pls share accountant details around slough area..thnx in advance

samaygrg
Senior Member
Posts: 607
Joined: Sun Jun 10, 2012 12:12 am
Location: United Kingdom

Re: TIER 1 EXTENSION APPLICANTS PLEASE JOIN HERE

Post by samaygrg » Sat May 24, 2014 1:08 am

Go with the guideline,your document list will be ready.

- 50K Investment proof- director loan agreement
- Businss trading proofs- adverts, banking, insurance, trade membership, HR develoment, networking, receipts of expenses, invoices, business rent, business rate paid proofs
- Profit and loss account, balance sheet, cash flow (audited accounting reports of all)
- 2 FT job creation proofs- payslips, hmrc tax proofs, passport and CV of staff, JD,PS, Vacancy
- your experience letter, CV
- Cover letter, application forms, PP fotos, fee,passports, biometric cards

So far,I have seen the extension application process is straight-forward and so is their decision. Hope it goes like this.

HTH
cappachino wrote:Can anyone share the list of documents required for extention

confused90
Member
Posts: 164
Joined: Fri Aug 17, 2012 10:30 pm

Re: TIER 1 EXTENSION APPLICANTS PLEASE JOIN HERE

Post by confused90 » Sat May 24, 2014 9:34 am

samaygrg wrote:Go with the guideline,your document list will be ready.

- 50K Investment proof- director loan agreement
- Businss trading proofs- adverts, banking, insurance, trade membership, HR develoment, networking, receipts of expenses, invoices, business rent, business rate paid proofs
- Profit and loss account, balance sheet, cash flow (audited accounting reports of all)
- 2 FT job creation proofs- payslips, hmrc tax proofs, passport and CV of staff, JD,PS, Vacancy
- your experience letter, CV
- Cover letter, application forms, PP fotos, fee,passports, biometric cards

So far,I have seen the extension application process is straight-forward and so is their decision. Hope it goes like this.

HTH
cappachino wrote:Can anyone share the list of documents required for extention
Are you that we need 'audited' financial statements? I thought unaudited should be fine, as long as they are signed by a professional accountant.

The extension application is straight-forward? That statement boosted my confidence :)

samaygrg
Senior Member
Posts: 607
Joined: Sun Jun 10, 2012 12:12 am
Location: United Kingdom

Re: TIER 1 EXTENSION APPLICANTS PLEASE JOIN HERE

Post by samaygrg » Sat May 24, 2014 1:32 pm

confused90 wrote:
samaygrg wrote:Go with the guideline,your document list will be ready.

- 50K Investment proof- director loan agreement
- Businss trading proofs- adverts, banking, insurance, trade membership, HR develoment, networking, receipts of expenses, invoices, business rent, business rate paid proofs
- Profit and loss account, balance sheet, cash flow (audited accounting reports of all)
- 2 FT job creation proofs- payslips, hmrc tax proofs, passport and CV of staff, JD,PS, Vacancy
- your experience letter, CV
- Cover letter, application forms, PP fotos, fee,passports, biometric cards

So far,I have seen the extension application process is straight-forward and so is their decision. Hope it goes like this.

HTH
cappachino wrote:Can anyone share the list of documents required for extention
Are you that we need 'audited' financial statements? I thought unaudited should be fine, as long as they are signed by a professional accountant.

The extension application is straight-forward? That statement boosted my confidence :)

As per the extension guideline, we need audited accounts of business. However, in general business practices, yeah, for small businesses, we do not need auditors' verification; prof. CA's verification will be fine.

samaygrg
Senior Member
Posts: 607
Joined: Sun Jun 10, 2012 12:12 am
Location: United Kingdom

Re: TIER 1 EXTENSION APPLICANTS PLEASE JOIN HERE

Post by samaygrg » Sat May 24, 2014 1:35 pm

samaygrg wrote:Go with the guideline,your document list will be ready.

- 50K Investment proof- director loan agreement
- Businss trading proofs- adverts, banking, insurance, trade membership, HR develoment, networking, receipts of expenses, invoices, business rent, business rate paid proofs
- Profit and loss account, balance sheet, cash flow (audited accounting reports of all)
- 2 FT job creation proofs- payslips, hmrc tax proofs, passport and CV of staff, JD,PS, Vacancy
- your experience letter, CV
- Cover letter, application forms, PP fotos, fee,passports, biometric cards

So far,I have seen the extension application process is straight-forward and so is their decision. Hope it goes like this.

HTH
cappachino wrote:Can anyone share the list of documents required for extention
forgot to write..one most important document on above list;
- CAR -company house report to show active directorship, which is not older than 3 months.


Cheers

legendman
Newly Registered
Posts: 1
Joined: Sat May 24, 2014 2:28 pm

Re: TIER 1 EXTENSION APPLICANTS PLEASE JOIN HERE

Post by legendman » Sat May 24, 2014 2:33 pm

I have just joined this immigration board my extension for entrepreneur tier 1 will be on April 2016.. and i am sending this msg just to check my ID is working or not ...

confused90
Member
Posts: 164
Joined: Fri Aug 17, 2012 10:30 pm

Re: TIER 1 EXTENSION APPLICANTS PLEASE JOIN HERE

Post by confused90 » Sat May 24, 2014 5:05 pm

As per guidance, even unaudited statements can be provided... unless company has to make audited statements by law:-

Evidence to show how much has been invested
104. You must provide all the appropriate specified documents needed to establish the amount you have already invested from the following list.
i) Audited accounts
Registered companies that are required to produce audited accounts must do so. For information on who needs to produce these accounts please refer to the Companies House website on http://www.companieshouse.gov.uk/about/ ... gba3.shtml.
ii) Unaudited accounts and an accountant’s certificate of confirmation
Businesses that are not required to produce audited accounts must provide unaudited accounts, sometimes called management accounts, together with a certificate of confirmation from a suitably regulated accountant

salman01
Newly Registered
Posts: 1
Joined: Sat May 24, 2014 10:05 pm

Re: TIER 1 EXTENSION APPLICANTS PLEASE JOIN HERE

Post by salman01 » Sat May 24, 2014 11:56 pm

Entrepreneur Visa extension


the requirements that you must meet if you are currently in the UK under the Tier 1 (Entrepreneur) category of the points-based system, and you want to extend your permission to stay here.

Evidence of investment in business
Evidence of being registered as a director or as self-employed
Evidence of being engaged in business activity
Evidence of having created new jobs

We will help you to organize and maintain your business activity records and the documents that you must provide as evidence that you are engaged in business activity in the UK, if you want to extend your permission to stay in the UK under Tier 1 (Entrepreneur)

samaygrg
Senior Member
Posts: 607
Joined: Sun Jun 10, 2012 12:12 am
Location: United Kingdom

Re: TIER 1 EXTENSION APPLICANTS PLEASE JOIN HERE

Post by samaygrg » Sun May 25, 2014 5:54 pm

yes, you are right 'Confused90'. we can stay on without audited accounts if we have qualified for exemption of this and want to take this advantage, and have applied and received the certificate of exemption from Company House.
confused90 wrote:As per guidance, even unaudited statements can be provided... unless company has to make audited statements by law:-

Evidence to show how much has been invested
104. You must provide all the appropriate specified documents needed to establish the amount you have already invested from the following list.
i) Audited accounts
Registered companies that are required to produce audited accounts must do so. For information on who needs to produce these accounts please refer to the Companies House website on http://www.companieshouse.gov.uk/about/ ... gba3.shtml.
ii) Unaudited accounts and an accountant’s certificate of confirmation
Businesses that are not required to produce audited accounts must provide unaudited accounts, sometimes called management accounts, together with a certificate of confirmation from a suitably regulated accountant

rahulsingh1
Member
Posts: 221
Joined: Sun Jan 06, 2013 5:32 pm

Re: TIER 1 EXTENSION APPLICANTS PLEASE JOIN HERE

Post by rahulsingh1 » Tue May 27, 2014 2:11 pm

Hi samaygrg , you have provided the list below. But I dont think the guidance asks for all of these..
see my notes below..

Go with the guideline,your document list will be ready.

- 50K Investment proof- director loan agreement
- Businss trading proofs- adverts, banking, insurance, trade membership, HR develoment, networking, receipts of expenses, invoices, business rent, business rate paid proofs ( NONE of this is required -adverts, banking, insurance, trade membership, HR develoment, networking, receipts of expenses, invoices, business rent, business rate paid proofs) . They only asked for bank statement and letter from bank.
- Profit and loss account, balance sheet, cash flow (audited accounting reports of all)
- 2 FT job creation proofs- payslips, hmrc tax proofs, passport and CV of staff, JD,PS, Vacancy ( None of this is required - and CV of staff, JD,PS, Vacancy ) They have only asked for Passport, payslips, P11 (and P45 only if start date is not mentioned)
- your experience letter, CV ( Never asked for this in extension)
- Cover letter, application forms, PP fotos, fee,passports, biometric cards


Please do not provide unneccesary documents in extension application, as this will increase their expectation from other applicants and will confuse them on your own application.

ishfaqsangra
- thin ice -
Posts: 866
Joined: Wed Aug 14, 2013 11:10 pm
Pakistan

Re: TIER 1 EXTENSION APPLICANTS PLEASE JOIN HERE

Post by ishfaqsangra » Tue May 27, 2014 6:39 pm

Yes,there is no need for anything extra which will lead them to furtehr checks just go with the ones asked in Policy Guidence
Do we really need to submit staff CVs,are we asking them to interview Company's staff? No need

nagisons
Member
Posts: 110
Joined: Thu Feb 07, 2013 6:30 pm
Location: UK

TIER 1 EXTENSION APPLICANTS PLEASE JOIN HERE

Post by nagisons » Sun Jun 01, 2014 7:51 am

Hello Everyone,


I got my visa last year december. I have Question about the accountants.

This paragraph has published in Guideline.

Recognised United Kingdom supervisory bodies for accountants
A18. Evidence submitted from accountants must be members one of the following supervisory bodies: the Institute of Chartered Accountants in England and Wales (ICAEW), the Institute of Chartered Accountants in Scotland (ICAS), the Institute of Chartered Accountants in Ireland (ICAI); the Association of Chartered Certified Accountants (ACCA); and the Association of Authorised Public Accountants (AAPA).


there are two basic points about the accreditation of the accountants.
- Simple members of Supervisory Bodies
- Practising Members of Supervisory Bodies

we can find members on websites of any Supervisory Bodies. But they also mention Practising members.

As given statement by HomeOffice which will be the right accountant in our circumstances?

Would you be so kind to reply.

I will appreciate your help and time.

Regards

dalaremal
Member
Posts: 183
Joined: Tue Feb 26, 2013 9:14 pm

Re: TIER 1 EXTENSION APPLICANTS PLEASE JOIN HERE

Post by dalaremal » Tue Jun 03, 2014 4:30 pm

Hi
I have got the visa in January 2014
I showed my money overseas,(50k PSW route).
Now, some of that money is in my personal account. Should I transfer that money directly into my business account?

Momi
Senior Member
Posts: 644
Joined: Tue Jan 08, 2013 2:08 pm
United Kingdom

Re: TIER 1 EXTENSION APPLICANTS PLEASE JOIN HERE

Post by Momi » Tue Jun 03, 2014 10:16 pm

dalaremal wrote:Hi
I have got the visa in January 2014
I showed my money overseas,(50k PSW route).
Now, some of that money is in my personal account. Should I transfer that money directly into my business account?

I think you should transfer it to your business account asap. I got visa last month and I already transferred almost 30% of the investment in my account. :)

dalaremal
Member
Posts: 183
Joined: Tue Feb 26, 2013 9:14 pm

Re: TIER 1 EXTENSION APPLICANTS PLEASE JOIN HERE

Post by dalaremal » Wed Jun 04, 2014 12:24 am

[quote][/quote][/code][/quote]I think you should transfer it to your business account asap. I got visa last month and I already transferred almost 30% of the investment in my account. :)[/quote][quote][/quote]


Thanks for making it clear!
Is it possible that I transfer 30% now (and after sometimes when I invest this 30% in my business), I transfer the remaining 70%?
Please!

MTZ510
Member of Standing
Posts: 312
Joined: Wed Feb 27, 2013 11:24 am
Location: Leeds, United Kingdom

Re: TIER 1 EXTENSION APPLICANTS PLEASE JOIN HERE

Post by MTZ510 » Wed Jun 04, 2014 12:36 am

You can transfer the funds when ever required. but by the time extension is due you should have invested all your funds.
dalaremal wrote:
[/code]
I think you should transfer it to your business account asap. I got visa last month and I already transferred almost 30% of the investment in my account. :)[/quote]

Thanks for making it clear!
Is it possible that I transfer 30% now (and after sometimes when I invest this 30% in my business), I transfer the remaining 70%?
Please![/quote]
Always help others..... it always come back to you.
Even if i know the answer ... i have this habit of confirming from others..

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