Koolyaaar wrote: ↑Wed Oct 04, 2017 9:23 pm
Dear Members,
First of all i am sorry if i am posting it in wrong category. I am currently on Teir 1 Entrepreneur Visa, i have bought a commercial property to trade from that propery. I have a small room room upstairs like a small loft which is not currently in use amd its like a storage. I am thinking of letting the first floor loft for short period until i need that space for my business and keeping the ground floor for my company.
Will I have any problems? And will the property still be counted as investment?
Kind Regards
King Regards
Avoid it if you can.
The rules explicitly exclude property management and property development from investment. The intent of the restriction is (as stated)
that business income must be generated from the supply of goods and/or services, and not derived from the increased value of property or any income generated from property, such as rent.
Since the major part of the building is used for your business, you may be argue that you are not doing property management.
Alternatively, you can get a survey done and then exclude just the value of the loft (which is possibly low) from your investment (you will need to inject additional cash to cover that) - that method is specified for combined residential/business property, so one can't be sure HO will accept that approach.
So, while I personally think you can rent a small portion of unused space if that is small part of your overall income, that scenario is not explicitly set out in the rules. Hence I would avoid it if I can.
My comments are in no way meant to be advisory. I have no professional knowledge of immigration. These are based on my own experience, convictions and personal interpretation of publicly available information.
