Dear Guru,
A quick background: I applied for my Tier 1 Extension four months ago, still waiting for the outcome. If it is successful (I don't see reasons why not so far), I still want to set up a 2nd limited company to fully utilise the 200k fund, because the 1st company can't use all of them, and the money just sleeps in the bank. Another issue with the 1st company is that I initially signed a 5 years management agreement, meaning initially there was a plan to exit in 5 years time.
My question: If I set up 2nd company (limited), then 2 years later when I apply for ILR, what is the role of this 2nd company? Can I use it to apply ILR? If so, can I sell my 1st company?
Any suggestion please pour in. Many thanks in advance to you all.
Best regards,
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