Applying Tier 1 Entrepreneur Visa 14 months Ltd Company

[naveenmallikarjun1]

Hello All,

I am residing in UK on Tier2 Dependent VISA from Feb-16, I started a company in April-16 and I am the sole director of this company (I am the only director from day one). The company has been successfully running and has made gross profit of £120,000 after VAT till date.

I am planning to apply for Tier 1 Entrepreneur VISA and wanted to understand, if I can use my existing Limited company which is 14 months old now, in the business case for applying Entrepreneur VISA. My business case would be based on the business model of my present limited company.

I had read something, somewhere that the limited company should not be older than 12 months, if it is being used in the business case.

Please let me know your thoughts.

Thanks for your time and help.

Regards,
Naveen

[zimba]

First you cannot apply for Tier 1E switch in the UK as you are on a dependant visa. You must apply from outside the UK in your home country.
Your company is perfectly fine for Tier 1E however if you are planning to claim investment, only investments made within the last 12 months from your application date will be accepted. Remember that money generated in the business is not your money and cannot be accepted for investment purposes.

[naveenmallikarjun1]

Hi Zimba,

Thanks for your reply.

Yes, I will be applying from India as I am Indian Citizen.

I have 200K in my personal account and I will be using that amount for investment, and I have also been able to generate 120,000 in business account in that last 14 months, I will be providing business account statements just to show that its a genuine business.

Apologies for asking it twice. Just to be doubly sure, I can show my company as a business case even though its 14 months old.

Please let me know if I can use any other information of my company which can be used to make my business case strong.

Regards,
Navin

[zimba]

For Tier 1E initial visa, you do NOT even need a company.