1st year of initial Leave Tier1 200k

[Camel555]

Dear Mods, seniors and all, please help me understand following points.

I was granted the said visa from outside UK in Feb this year. So far I have managed to register myself as a Director of my own company within 6 moths, have held onto my investment and have been able to move the funds to a UK personal bank account. Took me three months to open the bank account here.

I haven't opened the business bank account as yet. I understand that the initial part of investment will be considered invested when I move funds from personal to company account. Is it an issue that I haven't opened the business bank account yet?

I have been doing the initial research and planning and am hopeful that I would be launching by business in a couple of months time from now, but it is possible that it gets stretched to 4 months from now. Do you guys think that it can have a negative impact during extension, now, or during immigration and boarding while coming and going out of UK. I will have to travel back to home country at least a couple of more times before I launch my business as I am still winding down my things back home but once I launch then the travelling will be less frequent. So far I have travelled about 3 times to my home country and haven't faced any issues yet, but I think that immigration guys have every right to start asking me questions if I don't launch my business sooner. and I have heard in this forum that the money just laying in the accounts is not good enough for them. Do you think it can have adverse effects on file if I delay in launching the business.

Job vs Employee: I know this topic has been discussed a lot lately, Zimba has been kind enough to answer lot of questions in this regard, but a little confusion remains in my mind from a new entrepreneur point of view. Scenario: If I launch a retail unit which requires two people to be employed working 10 hours every day. Do I have to give them different Job titles just to satisfy the HO requirement of two jobs. If both employees are sales assistants, and perform more or less the same job, say, standing at till, then does the HO consider this as one Job no matter how many people perform this Job. If yes, then if I call one employee sales assistant and the other sales executive then does this solve the issue? On the last page of Tier1 E guidance, examples of job creation table have been provided and they clearly have used different job titles to show different jobs.

Do I have to give my employees Job benefits like paid leave etc? I mean if I hire two persons who work 6 hours every day for 5 days a week only, and I pay them as per the hours worked, would it have any issues at the time of extension. If I am not wrong, this might be called zero hour contracts, do they work under Tier1 E route.

A wild scenario, I am not planning on doing it, but just for the sake of knowledge, if someone keeps the company active, can not start trading for the initial 2 years and launches the business at the last stage and fulfills all the requirements, can there be any issues?

Remaining out of UK for more than 180 days will not be counted towards the ILR period: will it have any impact on your entrepreneur status as well?

Before applying for your dependants, do you have to have a house arranged for your dependants. In my scenario as I haven't launched the business yet, hence I am staying here and there, have my sister living here as well so I have her address as my popper address here. If I plan to apply for my dependants now but don't call them here until I start the business and provide the same (my sister) address, do you guys think it has any potential refusal chances. Visa fees is so high hence I want to make sure that I do everything right. The links provided in PBS dependant guidance of children's care arrangement don't show any relevant information, few of them don't work at all.

What is considered as money spent: I know that the route requires entrepreneurs to spend the money on business, but must all 200K go out of your accounts in the first three years. If the business requires cash at hand for operational reasons and for expansion later on and if gets dragged beyond three or more years, will that have a negative effect?

Real estate related investments: I understand any investment leading up to where you are renting it will not be considered, but why does running B&B acceptable under this route, in B&B we are renting the rooms. If my company buys a property in its name, convert it into serviced apartments, then will that be considered investment, and if no then how is this different from B&B.

Lastly, I have allocated myself 100 shares of 1.00 GBP each, do I still need to sign the directors loan agreement, and is the share capital certificate enough to prove that I have invested thorough share capital.

@ Zimab, mods and experts, pls help with above, I would be very grateful.

regards

[marcnath]

Is it an issue that I haven't opened the business bank account yet?

No

Do you guys think that it can have a negative impact during extension, now, or during immigration and boarding while coming and going out of UK. I will have to travel back to home country at least a couple of more times before I launch my business as I am still winding down my things back home but once I launch then the travelling will be less frequent. So far I have travelled about 3 times to my home country and haven't faced any issues yet, but I think that immigration guys have every right to start asking me questions if I don't launch my business sooner. and I have heard in this forum that the money just laying in the accounts is not good enough for them. Do you think it can have adverse effects on file if I delay in launching the business.

No. You are right in that the entry officer does have the authority to even cancel your visa but you are not violating any conditions as long as you have access to the funds (which you have), so it is unlikely they will. You may occasionally meet an overzealous officer (I met once who insisted I have to have two employees all the time - clearly ignorant). Just keep calm, answer the questions and let them have their ego inflated.

Job vs Employee: I know this topic has been discussed a lot lately, Zimba has been kind enough to answer lot of questions in this regard, but a little confusion remains in my mind from a new entrepreneur point of view. Scenario: If I launch a retail unit which requires two people to be employed working 10 hours every day. Do I have to give them different Job titles just to satisfy the HO requirement of two jobs. If both employees are sales assistants, and perform more or less the same job, say, standing at till, then does the HO consider this as one Job no matter how many people perform this Job. If yes, then if I call one employee sales assistant and the other sales executive then does this solve the issue? On the last page of Tier1 E guidance, examples of job creation table have been provided and they clearly have used different job titles to show different jobs.

It is not. You can have two sales assistants and it is two jobs. There was one case where it was rejected because of same title but I think the decision was overturned in AR as it was clearly a mistake. When you do the extension, just write SA 1 and SA 2 as the job titles to avoid that.

Do I have to give my employees Job benefits like paid leave etc? I mean if I hire two persons who work 6 hours every day for 5 days a week only, and I pay them as per the hours worked, would it have any issues at the time of extension. If I am not wrong, this might be called zero hour contracts, do they work under Tier1 E route.

As long as it legal under the laws, there are no additional employment conditions because you are T1E

A wild scenario, I am not planning on doing it, but just for the sake of knowledge, if someone keeps the company active, can not start trading for the initial 2 years and launches the business at the last stage and fulfills all the requirements, can there be any issues?

No. You need to satisfy the genuine entrepreneur test at the extension time. As long as you can explain it and show that you are a genuine entrepreneur at the time of renewal, the history should not matter.

Remaining out of UK for more than 180 days will not be counted towards the ILR period: will it have any impact on your entrepreneur status as well?

No

Before applying for your dependants, do you have to have a house arranged for your dependants. In my scenario as I haven't launched the business yet, hence I am staying here and there, have my sister living here as well so I have her address as my popper address here. If I plan to apply for my dependants now but don't call them here until I start the business and provide the same (my sister) address, do you guys think it has any potential refusal chances. Visa fees is so high hence I want to make sure that I do everything right. The links provided in PBS dependant guidance of children's care arrangement don't show any relevant information, few of them don't work at all.

Those are not reasons for refusal.

What is considered as money spent: I know that the route requires entrepreneurs to spend the money on business, but must all 200K go out of your accounts in the first three years. If the business requires cash at hand for operational reasons and for expansion later on and if gets dragged beyond three or more years, will that have a negative effect?

No.

Real estate related investments: I understand any investment leading up to where you are renting it will not be considered, but why does running B&B acceptable under this route, in B&B we are renting the rooms. If my company buys a property in its name, convert it into serviced apartments, then will that be considered investment, and if no then how is this different from B&B.

I am not sure if it says explicitly that B&B is acceptable. I did make that comment in reply to someone else's post. It is my personal opinion that B&B is acceptable, service apartments would be in a grey area, but renting out as offices or homes would be a definite no. The logic is that revenue from B&B is more of a service than renting property and the guideline is about the fact the major revenue should not be from property rental.

Lastly, I have allocated myself 100 shares of 1.00 GBP each, do I still need to sign the directors loan agreement, and is the share capital certificate enough to prove that I have invested thorough share capital.

You can do the investment as share capital or director loan or a combination. Share certificates are not the evidence required, but your accounts.

[Irfanlibra2017]

You mind if I ask u some questions. Not relevant to your actual post but just wanted to know. Thanks

Which country did u applied ur visa from.?
Did u go through any interview?
What was your business experience background?
Did u had any previous UK stay history?

regards

[Camel555]

You mind if I ask u some questions. Not relevant to your actual post but just wanted to know. Thanks

Which country did u applied ur visa from.?
Pak
Did u go through any interview?
Yes telephonic interview
What was your business experience background?
I have various business experiences
Did u had any previous UK stay history?
yes been visiting here from many years

regards

[Camel555]

Hi Marc,

Thank you for your reply, I guess I don't need to be too jittery in the first year of my Tier1 E. Actually pressure of rules can make you take rash decision. I have been going through lot of research and finding it a little overwhelming, you know launching myself here, reality is a little different than the plans:). It is tough out here but obviously its my own choice.

Always pleasure getting your advice, thanks again and I might keep this thread alive:)

[Camel555]

Hi Marc/ other informed members,

Is it possible to use multiple credit cards to pay online visa fee, my dependants' fee is more than the credit limit I have, does the online visa system allow to use credit cards turn by turn

[marcnath]

Hi Marc/ other informed members,

Is it possible to use multiple credit cards to pay online visa fee, my dependants' fee is more than the credit limit I have, does the online visa system allow to use credit cards turn by turn

You can always use a debit card

[Camel555]

Thanks sir, but is it possible to use multi credit cards just in case

[marcnath]

Thanks sir, but is it possible to use multi credit cards just in case

You don't apply online for your extension. You need to provide your card information or a postal order along with your application. The application form has space only for one card but it is a separate application for you and each dependant, so you can use different cards for each.

[Camel555]

i was asking for the initial application of dependants, fee comes up a little more than my limit, and in case I want to use credit card, so will the system allow me give me an option to provide multiple credit cards

[bizman]

Macnath has answered you. No. You can use only one card.

[Camel555]

Hi Marc, thank you for your support, pls help me with following points, I am finalising applications of my dependants, I have 3 dependants who are outside UK and I have been in UK for less than 1 year, so requirement is 1890 X 3+945=6615

Maintenance funds: The rules say that Where the application is connected to a Tier 1 (Entrepreneur) Migrant, the applicant cannot use the same funds to score points for maintenance funds from this Appendix as the Tier 1 (Entrepreneur) Migrant used to score points for attributes under Appendix A I hope it does not mean that I need to have 945 in addition to 3310 that was required before the grant of the visa for my personal requirement, or the initially required 3310 wont have any more requirement relating to the dependants applications. And in your opinion, now having 6615 would fulfill the requirement.

Two bank Statements: Modernised guidelines state that: Where evidence from 2 or more accounts are submitted, we will assess the funds available to you using:
the most recent closing balance of one account, plus
any additional money available to you on the date of that closing balance, for which you have provided the required evidence. We will always use the closing balance date from the account that most favours you
Can you pls give your opinion on this point, I mean its a bit confusing in the sense that if I am submitting two bank statements from two separate banks, will they only accept the one with the highest balance and within that statement they will use the closing balance date and use that date to add up funds in the second bank statement.

Bank Stamps: Banks in UK do not stamp, I hope they know this and accept the digital barcodes as stamps, pls give your opinion.

Rules also state that bank statement should show that there are sufficient funds present in the account
My bank refused putting any such wording, stating that they can not issue anything which deviates from their set standard formats, so in your opinion, will the CW understand this point as I do not have this line added to my bank statement.
Date of Bank Statement: Rules say that bank statement must have a date of statement. Now despite my request, my bank in UK did not put the statement issue date, so the last transaction appearing on the statement is the only proof of the statement being within the 31 days period from the date of application. Now I am out of UK, if they had put the statement date, it would have given me additional time to prepare for applications, but the last transaction date is fairly earlier than the date I requested my bank to issue the statement, so in your opinion, could giving a clarification in additional information help the CW understand if I submit my application on the date which will be later than the last transaction date? I know I should have done a transaction one day before I requested the bank to issue the statement, but I had no idea that there wont be any statement issue date.

List of documents:
As per the guidelines, I just need to send following for the dependants' application. Pls correct if I am missing anything:
Bank Statement(s) showing consecutive 90 days funds maintenance
Criminal record certificate
TB test report
Passports
Cover letter ( should I send one and if yes, should it be on my company letter head)

[marcnath]

Maintenance funds: The rules say that Where the application is connected to a Tier 1 (Entrepreneur) Migrant, the applicant cannot use the same funds to score points for maintenance funds from this Appendix as the Tier 1 (Entrepreneur) Migrant used to score points for attributes under Appendix A I hope it does not mean that I need to have 945 in addition to 3310 that was required before the grant of the visa for my personal requirement, or the initially required 3310 wont have any more requirement relating to the dependants applications. And in your opinion, now having 6615 would fulfill the requirement.

Yes, as long as it is not the same account you used to show the 50K/200K investment funds.

Two bank Statements: Modernised guidelines state that: Where evidence from 2 or more accounts are submitted, we will assess the funds available to you using:
the most recent closing balance of one account, plus
any additional money available to you on the date of that closing balance, for which you have provided the required evidence. We will always use the closing balance date from the account that most favours you
Can you pls give your opinion on this point, I mean its a bit confusing in the sense that if I am submitting two bank statements from two separate banks, will they only accept the one with the highest balance and within that statement they will use the closing balance date and use that date to add up funds in the second bank statement.

They clearly state they will use the one that favours you, which is the key part.

Bank Stamps: Banks in UK do not stamp, I hope they know this and accept the digital barcodes as stamps, pls give your opinion.

Banks in UK do stamp, unless they have changed something very recently. Unless your statement is an original one, it needs the banks to stamp them.

Rules also state that bank statement should show that there are sufficient funds present in the account
My bank refused putting any such wording, stating that they can not issue anything which deviates from their set standard formats, so in your opinion, will the CW understand this point as I do not have this line added to my bank statement.

I am confused - do you have a letter from the bank or a bank statement (listing all the transactions). A bank statement will not have any additional wording and I don't see a need for that - the total amounts will meet the requirement.

Date of Bank Statement: Rules say that bank statement must have a date of statement. Now despite my request, my bank in UK did not put the statement issue date, so the last transaction appearing on the statement is the only proof of the statement being within the 31 days period from the date of application. Now I am out of UK, if they had put the statement date, it would have given me additional time to prepare for applications, but the last transaction date is fairly earlier than the date I requested my bank to issue the statement, so in your opinion, could giving a clarification in additional information help the CW understand if I submit my application on the date which will be later than the last transaction date? I know I should have done a transaction one day before I requested the bank to issue the statement, but I had no idea that there wont be any statement issue date.

Again this is confusing as I have not seen a bank statement that does not have a statement date. It should have something to the effect "printed on ..." at least.

List of documents:
As per the guidelines, I just need to send following for the dependants' application. Pls correct if I am missing anything:
Bank Statement(s) showing consecutive 90 days funds maintenance
Criminal record certificate
TB test report
Passports
Cover letter ( should I send one and if yes, should it be on my company letter head)

Cover letter is optional but useful to explain things that you can't in the form itself. It does not have to be on a company letterhead.

[Camel555]

Thanks Marc,

They clearly state they will use the one that favours you, which is the key part understood, but will they take into account both statements in your opinion?

Banks in UK do stamp, unless they have changed something very recently. Unless your statement is an original one, it needs the banks to stamp them Yes I have original.

Again this is confusing as I have not seen a bank statement that does not have a statement date. It should have something to the effect "printed on ..." at least. Sir this surprised me as well, bank is reputable, and I checked from other people who bank with them and everyone told me that there was no issue date or statement date on their bank statements. I am confused on this part and thinking of explaining this in additional information section.

I am confused - do you have a letter from the bank or a bank statement (listing all the transactions). A bank statement will not have any additional wording and I don't see a need for that - the total amounts will meet the requirement. I have bank statement and the closing balance meets the 6615 requirements

]

[marcnath]

1. Yes they will take both statements. They will start backwards from the last date when both together totals 6615 and check for 90 days from that.
2. If it is an original statement then there is no need for a stamp. You only need the stamp if you had it printed an e-statement or had it printed at the bank, only then do you need to have it stamped.
3. Ok. Assume that they will take the last transaction date as the statement date then.
4. Then you should be ok

[Camel555]

This question is in reference to another users’ post where the user stated that his application was turned down and one of the reasons was that the user took a long time to invest in the business.

uk-tier-1-entrepreneur-visas/second-ent ... 54776.html

Can CW turn down an extension application based on the fact that moneys were not invested right away after getting the visa, as in my case, been more than one year but I havent moved the funds from my personal account to my company account, although I have already spent a fair bit of amount from my personal account on business related expense line travelling and meetings. I am almost in the final stage where I will start incurring expenses from my business account in about 3-4 months time. And hopefully my business will employ jobs right away.

So can the delay in investment taint your genuiness even if the business activity is fully genuine and verifiable ?

Thanks

[marcnath]

This question is in reference to another users’ post where the user stated that his application was turned down and one of the reasons was that the user took a long time to invest in the business.

uk-tier-1-entrepreneur-visas/second-ent ... 54776.html

Can CW turn down an extension application based on the fact that moneys were not invested right away after getting the visa, as in my case, been more than one year but I havent moved the funds from my personal account to my company account, although I have already spent a fair bit of amount from my personal account on business related expense line travelling and meetings. I am almost in the final stage where I will start incurring expenses from my business account in about 3-4 months time. And hopefully my business will employ jobs right away.

So can the delay in investment taint your genuiness even if the business activity is fully genuine and verifiable ?

Thanks

As you saw in the same thread, that decision was overturned.
CWs are also human and can make mistakes and that is why there is an AR process.
Remember the requirement that you need to show evidence of transfer of full amount from your personal account to business account. If you have been spending from your personal account, that is going to be difficult. You don't have to transfer all the money immediately but the best approach is to transfer amounts required to the business account and spend everything from there.

[Camel555]

Thanks Marc, as always...
Yes sir I have the required amount and haven spent on top of it, hopefully I would be able to claim back those expenses from my business account. Can this be an issue of claiming expenses from your company which one had spent prior to trading and moving funds into business account . Expense such as fuel, hotleing

Can you pls tell what that evidence will be other than the bank statement which will prove that the funds were transferd from personal to business account .

I was planning on transferring all of them in one go,

[marcnath]

Thanks Marc, as always...
Yes sir I have the required amount and haven spent on top of it, hopefully I would be able to claim back those expenses from my business account. Can this be an issue of claiming expenses from your company which one had spent prior to trading and moving funds into business account . Expense such as fuel, hotleing

Can you pls tell what that evidence will be other than the bank statement which will prove that the funds were transferd from personal to business account .

I was planning on transferring all of them in one go,

The primary evidence needed for investment is your unaudited accounts.

Bank statements are needed only if you plan to invest as a Director loan.

If you do it as share investment, the accounts are sufficient.

[Camel555]

Thanks Marc, I will be doing it through Directors Loan,