Joining Existing Company/ employment

[kavehh]

Hello Everyone,

I got my Tier 1 07/15 and my extension is on 07/2018

I have been director of company X which I got the initial visa with. Have already transferred the funds from personal to business as "directors loan" Bought machineries for food processing for total of 40,000 (legal purchase agreement)

At this moment, I am planning to invest 50,000 in exsisting business (company Y) and becoming a director of that company. It already has one director and one secretary.

My first question is: Can I invest the the 40,000 (get refund for equipment) +10,000 from my previous company into new company and submit the application with company Y?

Should I transfer the funds back to my personal and then transfer it to company Y or I can send it directly?

My company X will still be operational with possible investment of 20,000 to buy goods for distribution.

My second question is: Can I employ the existing director of the company or the secratary while being a director myself as an employee for job creation ? or the employee must be from outside directors board?

Would it be wise to submit both companies for the application

I will have 35% share of the company Y.

I really appreciate your help in this matter.

Thank you very much

[zimba]

My first question is: Can I invest the the 40,000 (get refund for equipment) +10,000 from my previous company into new company and submit the application with company Y?

Yes you can invest in any company and claim points for it as long as you are the director.

Should I transfer the funds back to my personal and then transfer it to company Y or I can send it directly?

Personal to business is the right way. I assume you will be investing in that company in share capital

My second question is: Can I employ the existing director of the company or the secratary while being a director myself as an employee for job creation ? or the employee must be from outside directors board?

No you cannot. When you join an existing business, you need to increase the net jobs in that company by at least two. You need to show after you joined, the company ended up with two EXTRA employees.

Would it be wise to submit both companies for the application

I assume you need to show you became the director of the first company within the 6 months entering the route. However you do not need to show your investment in the first company if you are not claiming any points for it.