200k route - business and investment of funds

[silverdelt]

Hi again folks,

Regarding the 200k route, I have the following questions for the gurus here (my apologies in advance if these have already been answered earlier - I could not find them anywhere):

1. Do we have the entire 3 year period before extension to invest the full 200k? I mean, does UKBA expect us to invest the entire 200k within the first 6 or 12 months or can we invest little at a time spread over 3 years?

2. Is it OK to invest in more than one business i.e. can I invest 100k in one and 100k in a 2nd business?

3. When I apply for the visa, I will of course develop and submit a business plan related to a particular business I want to do. Is it OK to change my mind and invest in a totally different business when I actually land in UK?

4. The rule that we have to register with HMRC as self-employed, does that mean the we only have the first 6 months to establish and actually start the business activity? I just want to be 100% clear on this. I'm guessing when you register with HMRC, it automatically means you would have actually established/purchased/invested in the business and the business is fully operational?

Thanks in advance for all your help in clarifying these basic confusions I still have

[silverdelt]

Anyone

[BlackBirdSSG]

Hi again folks,

Regarding the 200k route, I have the following questions for the gurus here (my apologies in advance if these have already been answered earlier - I could not find them anywhere):

1. Do we have the entire 3 year period before extension to invest the full 200k? I mean, does UKBA expect us to invest the entire 200k within the first 6 or 12 months or can we invest little at a time spread over 3 years?

2. Is it OK to invest in more than one business i.e. can I invest 100k in one and 100k in a 2nd business?

3. When I apply for the visa, I will of course develop and submit a business plan related to a particular business I want to do. Is it OK to change my mind and invest in a totally different business when I actually land in UK?

4. The rule that we have to register with HMRC as self-employed, does that mean the we only have the first 6 months to establish and actually start the business activity? I just want to be 100% clear on this. I'm guessing when you register with HMRC, it automatically means you would have actually established/purchased/invested in the business and the business is fully operational?

Thanks in advance for all your help in clarifying these basic confusions I still have

1) You have 3 years to invest. It's your choice to invest £200K in one day or within 3 years. However, you must always have access to £200K of funds. That is what UKBA can ask you about.

2) You are allowed to do multiple businesses, however UKBA will only ask for one business on which you got your visa (or on a business plan). Therefore, your £200K of investment must be made in one business only.

3) UKBA gave you visa for certain business plan. You must stick to its basic points and do no change line. However, it is possible to change your business, but you must inform UKBA about this. Otherwise, you may get refused at extension period.

4) You can open a company in the UK within few hours. You can start running your company, however it takes time to get all the HMRC documents, regulatory body's certifications and other relevant documents. What they are asking you is that you must open a company within the 1st six months of your visa. HMRC letters will come eventually.

[famous]

BLACKBIRD I DISAGREE WITH YOU ON UR BELOW POINTS:

2) You are allowed to do multiple businesses, however UKBA will only ask for one business on which you got your visa (or on a business plan). Therefore, your £200K of investment must be made in one business only.

3) UKBA gave you visa for certain business plan. You must stick to its basic points and do no change line. However, it is possible to change your business, but you must inform UKBA about this. Otherwise, you may get refused at extension period.

THE LAST TIME I READ THE RULES AND POLICY, THERE IS NO MENTION OF THE CONDITION THAT YOU HAVE TO STICK TO THE BUSINESS PLAN WHICH YOU USED IN UR APPLICATION. YOU CAN CHOOSE ANY BUSINESS AFTER U GET VISA. AND ALSO I DISAGREE THAT YOU HAVE TO CHOOSE ONLY ONE BUSINESS FOR PROOF OF BUSINESS AT THE TIME OF EXTENSION AFTER 3 YEARS. AGAIN, THE LAST TIME I READ THE POLICY IT STATED THAT THEY UNDERSTAND THAT THE APPLICANT MAY HAVE SET UP MORE THAN ONE BUSINESS SO THE ONVESTMENT PROOF SHUD BE SHOWN FOR ALL BUSINESS.

I WILL SUGGEST THAT EITHER WE READ INVEST TIME AND READ THE POLICY OURSLEVES OR GET A GOOD LAWYER WHO WILL CHARGE A LOT. SO IF UR EDICATED THEN MAKE EFFORT AND READ THE GUIDELINES YOURSELF.

MY COMMENTS ARE FOR 200K ROUTE ONLY.

[Jenlord]

Hi again folks,

Regarding the 200k route, I have the following questions for the gurus here (my apologies in advance if these have already been answered earlier - I could not find them anywhere):

1. Do we have the entire 3 year period before extension to invest the full 200k? I mean, does UKBA expect us to invest the entire 200k within the first 6 or 12 months or can we invest little at a time spread over 3 years?

2. Is it OK to invest in more than one business i.e. can I invest 100k in one and 100k in a 2nd business?

3. When I apply for the visa, I will of course develop and submit a business plan related to a particular business I want to do. Is it OK to change my mind and invest in a totally different business when I actually land in UK?

4. The rule that we have to register with HMRC as self-employed, does that mean the we only have the first 6 months to establish and actually start the business activity? I just want to be 100% clear on this. I'm guessing when you register with HMRC, it automatically means you would have actually established/purchased/invested in the business and the business is fully operational?

Thanks in advance for all your help in clarifying these basic confusions I still have

It seems you are borrowing money from someone just to settle down in UK. =]

[SHAIKH9870]

Hi again folks,

Regarding the 200k route, I have the following questions for the gurus here (my apologies in advance if these have already been answered earlier - I could not find them anywhere):

1. Do we have the entire 3 year period before extension to invest the full 200k? I mean, does UKBA expect us to invest the entire 200k within the first 6 or 12 months or can we invest little at a time spread over 3 years?

2. Is it OK to invest in more than one business i.e. can I invest 100k in one and 100k in a 2nd business?

3. When I apply for the visa, I will of course develop and submit a business plan related to a particular business I want to do. Is it OK to change my mind and invest in a totally different business when I actually land in UK?

4. The rule that we have to register with HMRC as self-employed, does that mean the we only have the first 6 months to establish and actually start the business activity? I just want to be 100% clear on this. I'm guessing when you register with HMRC, it automatically means you would have actually established/purchased/invested in the business and the business is fully operational?

Thanks in advance for all your help in clarifying these basic confusions I still have

All of you read again his 1st point :

He is asking to bring money in UK account within 6 months or 3 years ?
Ans : Bring the money in UK - within 6 months and reg co with HMRC etc.
Invest the money in 3 yrs...

Please correct me.

[Darvesh]

money has to be invested in 3y time however u must have access to money all time unless it is spent by ur business. its mean ur sponser need to provide u continue access to money if u havnt used it all up.

you dont need to inform ukba if u change business or close a business due to losses/other reasons or starting another business. at the end of 3y tenure 200k must be spent by one or more business.

u must register with hmrc within 6months of getting visa.

[SHAIKH9870]

money has to be invested in 3y time however u must have access to money all time unless it is spent by ur business. its mean ur sponser need to provide u continue access to money if u havnt used it all up.

you dont need to inform ukba if u change business or close a business due to losses/other reasons or starting another business. at the end of 3y tenure 200k must be spent by one or more business.

u must register with hmrc within 6months of getting visa.

Correct me Again Please :

some 1 have money out side UK - he got the T1 visa .

Qs 1 : He must BRING/TRANSFER money in UK from outside UK bank account within 6 months ?

Q2 : He must INVEST 200k in UK within 3.6 years?


Please reply / Correct me.

[Darvesh]

@ SHeikh He must BRING/TRANSFER money in UK from outside UK bank account within 6 months

there is no time constraint when u transfer ur money i.e within 1 month or 3y of visa received, its upto you however u must have access to 200k til all 200k spent by ur business.

He must INVEST 200k in UK within 3.6 years?
where this 3.6y came?? simply u must 200k before u go for extension.

[evoque]

Sorry if my question is already replied in this forum:


We were granted entrepreneur Tier 1 visa in September 2013 until December 2015 as entrepreneurial team other member did not contribute towards my business both started separate businesses. He cannot invest much whereas I invested £ 130000 as good will and purchase of equipment so far and planning to buy £ 400 000 commercial property upfront of £ 150000 I will invest rest its bank financing. I have employed four UK nationals in my business.
My queries are
1) Can I apply for extension independently
2) Is the money paid as good will and later investment in purchase of commercial property as an investment is ok

[aman90]

Out of curiousity where did you guys get this info
"however UKBA will only ask for one business on which you got your visa (or on a business plan). Therefore, your £200K of investment must be made in one business only."
Ive never read any such thing in the guidance notes etc...and I never submitted a business plan!

[umer.shahzad1]

Hi again folks,

Regarding the 200k route, I have the following questions for the gurus here (my apologies in advance if these have already been answered earlier - I could not find them anywhere):

1. Do we have the entire 3 year period before extension to invest the full 200k? I mean, does UKBA expect us to invest the entire 200k within the first 6 or 12 months or can we invest little at a time spread over 3 years?

2. Is it OK to invest in more than one business i.e. can I invest 100k in one and 100k in a 2nd business?

3. When I apply for the visa, I will of course develop and submit a business plan related to a particular business I want to do. Is it OK to change my mind and invest in a totally different business when I actually land in UK?

4. The rule that we have to register with HMRC as self-employed, does that mean the we only have the first 6 months to establish and actually start the business activity? I just want to be 100% clear on this. I'm guessing when you register with HMRC, it automatically means you would have actually established/purchased/invested in the business and the business is fully operational?

Thanks in advance for all your help in clarifying these basic confusions I still have

1) You have 3 years to invest. It's your choice to invest £200K in one day or within 3 years. However, you must always have access to £200K of funds. That is what UKBA can ask you about.

2) You are allowed to do multiple businesses, however UKBA will only ask for one business on which you got your visa (or on a business plan). Therefore, your £200K of investment must be made in one business only.

3) UKBA gave you visa for certain business plan. You must stick to its basic points and do no change line. However, it is possible to change your business, but you must inform UKBA about this. Otherwise, you may get refused at extension period.

4) You can open a company in the UK within few hours. You can start running your company, however it takes time to get all the HMRC documents, regulatory body's certifications and other relevant documents. What they are asking you is that you must open a company within the 1st six months of your visa. HMRC letters will come eventually.

you have to show investment in 3 years
you have to get register with in 6 months with HMRC
if you are applying under 50k visa route then you have to stick to the business which u have showed in ur visa application in 200k visa application you can invest in one or two business

[csmlv]

The best idea is to read and thoroughly understand the guidance, most of the questions asked by silverdelt have been answered in it.

[n8net]

do u really have to show EVIDENCE that you had access to 200k all the time ? or it is just UKBA expects EVIDENCE that 200k has been invested in the 3 years before the extention ?