Entrepreneurial Team Member Switching To LR b/f Extension

[umarf10]

Hi,
Myself and entrepreneur team member applied for extension in April this year and still awaiting the decision.

Team member has completed LR and varying his application to go for ILR.

With regards to required £50K investment, the funds were invested through share capital, both partners contributing £25k each.

My question to respected members is whether varying his application have any bearing on my pending application.

2 routes have been suggested by solicitors,
a) Signing a declaration by team member stating he will continue to be shareholder and director in business.
b) Transferring his shares to me, allowing me to be a full controlling party over the business.

Please Zimba or other senior member to suggest which option to go by, or any other suggestion.

Regards

[zimba]

There is nothing you need to do. You invested 50K together and it is irrelevant your partner is applying for ILR. You had a partner and you can rely on the money invested together to get extension.