new business whilst visa being processed..

[alyo]

Hi i applied for my extension. After approval i will sell current business.
After am i allowed to buy a running business?
I will pay premium to previous owner is that ok?

He has no employees on the books as he works at business with his wife. How am i going to show home office increase in employees?

Thaks in advance
Al

[marcnath]

Hi i applied for my extension. After approval i will sell current business.
After am i allowed to buy a running business?
I will pay premium to previous owner is that ok?

He has no employees on the books as he works at business with his wife. How am i going to show home office increase in employees?

Thaks in advance
Al

Yes, it is fine to buy an existing business.
There are no issues with paying premium to the owners. Once your extension is approved, you will not need to show investment proof again. So this would be additional investment which has no conditions attached.
Additional employees is shown by send HO payroll records for 12 months before and after. There should be two more Employees in the records after than in the 12 months records before.

[alyo]

Thanks for your reply.

Am i also allowed to sell my current one?

Thanks
Al

[marcnath]

Thanks for your reply.

Am i also allowed to sell my current one?

Thanks
Al

Yes

[alyo]

hi

my lawyer advised that i should be trading during the waiting time.
I have found a barber shop that is a running business.
He is a sole trader with himself working in the shop he has no payroll in the business. The lease holder advised that he can get me a new lease from the landlord provided i pay his premium to him.

How do i convince ukba that this will be a new business?

if not , how do i create 2 full time jobs on top of the one there when there is no payroll?

If i decide to pay premium, can i pay him directly from my personal account?

[CR001]

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[marcnath]

hi

my lawyer advised that i should be trading during the waiting time.
I have found a barber shop that is a running business.
He is a sole trader with himself working in the shop he has no payroll in the business. The lease holder advised that he can get me a new lease from the landlord provided i pay his premium to him.

How do i convince ukba that this will be a new business?

if not , how do i create 2 full time jobs on top of the one there when there is no payroll?

If i decide to pay premium, can i pay him directly from my personal account?

As I already replied earlier, once your investment evidence has been accepted for 1st extension, there are no conditions attached to any additional businesses you invest into.

If the company had no payroll before you joined, then it did not have any employees. So any employee you add will be new. You just state that the company was not having employees before and you can show your PAYE registration to show that you got employees only after you joined

[alyo]

hello everyone


I have been informed that my tier 1 visa extension is being processed.
I have sold my business today however my company is still active.

I know i have to be active during the waiting period so i have 2 offers from people. therefore

1- buy shares in an active company and wait for home office.

OR

2- Join someone's (sole trader) business as a partner and wait for home offfice. we will sign a contract together.

can someone shed some light on this issue . Also can someone advise me on the best course of action.

many thanks

[zimba]

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DO NOT create multiple posts on the same issue

[marcnath]

I know i have to be active during the waiting period

I am not aware of any such requirement.

[alyo]

Ok ..thanks