Switching from Tier 2 General to Tier 1 Entrepreneur

[nbandla89]

Dear All

Thanks for your advice in advance.

I came to UK on 19 Sep 2010 as a Student
Switched to PSW in April 2012 from Tier 4
Switched to Tier 2 General from PSW on may 14th 2014 - NHS

I have set up a business in Oct 2013 while on PSW, it has its own employees and running good so far yearly Turnover 300K.

Now i want to move completely into business, i am constantly investing into my business from my Salary.

Question 1) So can i show my 50K investment over 12 months (2016- 2017) as funding to get Tier 1 ? if this is the case when can i apply ILR 2019 (5 year T2 & T1) or 2020 (long residency)

Question 2) if i continue on Tier 2, (if i wont get 35k with current employee as its NHS) can i stay 6 years untill 2020 and apply for ILR.

Question 3) if i change my employerr, do i have change my dependent visa too?

if not above is there any other options for me to move info business i.e Tier 1.

Thanks

[zimba]

Question 1) So can i show my 50K investment over 12 months (2016- 2017) as funding to get Tier 1 ? if this is the case when can i apply ILR 2019 (5 year T2 & T1) or 2020 (long residency)

Yes you can show all the investment you made in the last 12 months however you need to send accounts, loan agreements, bank statements to prove the investment as per HO requirements.
The time spent on Tier 2 does not count towards 5 year qualifying period under Tier 1E. If your ten year legal residency completes by 2020, you can get your ILR based on 10 year rule. Otherwise you need min of 5 years on Tier 1E.

Question 2) if i continue on Tier 2, (if i wont get 35k with current employee as its NHS) can i stay 6 years untill 2020 and apply for ILR.

Yes, it seems that you can stay up to 6 years on Tier 2 if your salary threshold is below 35K.

Question 3) if i change my employer, do i have change my dependent visa too?

If you change your sponsor, you get 60 days to apply for a new visa otherwise your continuous long residency period will break. So you and any of your dependants have to apply for new a visa together.

[nbandla89]

Thanks

Does the invested 50K (in parts ) should stay in business account to make up 50K or can business use the loan from me and business account balance will be around 10k (at the time of application) with accurate accounts on business spendings ?

[zimba]

Thanks

Does the invested 50K (in parts ) should stay in business account to make up 50K or can business use the loan from me and business account balance will be around 10k (at the time of application) with accurate accounts on business spendings ?

Business account balance is irrelevant. Please read Tier 1E guide on how to prove you invested money as required by HO

[nbandla89]

Thanks
Sorry to be pain.
I have read through guidelines few times, may be hence confusion.

Can you confirm if i can use 50K my own invested funds (as director loan to business) in last 12 months to claim points for T1 E or should i use 200K of my own funds?


Thanks

[zimba]

You must have at least 200K if you are switching from Tier 2 with your own funds.

[nbandla89]

So

if i have already invested 50K of my salery into my existing business since 2013 (as myself being a Director ), do i still need another 150k ?

[zimba]

So

if i have already invested 50K of my salery into my existing business since 2013 (as myself being a Director ), do i still need another 150k ?

Yes.