Tier 1 ( Entrepreneur) to ILR - Invested fund Spent on Business Proof

[naya]

Hello,

What exactly HO is looking to see for 50K spent on the business? How to prove that the 50K was spent on the business? What is partial funds have been withdrawn as a loan repayment over the last 5 years although it was spent in the business initially and at the same time business had an income too.

Does anyone have list of documents how to meet with this requirement?
Any advice is most welcomed.

Your help/ professional advice is much appreciated!

Thank you,
Naya

[sm12]

Hello,

What exactly HO is looking to see for 50K spent on the business? How to prove that the 50K was spent on the business? What is partial funds have been withdrawn as a loan repayment over the last 5 years although it was spent in the business initially and at the same time business had an income too.

Does anyone have list of documents how to meet with this requirement?
Any advice is most welcomed.

Your help/ professional advice is much appreciated!

Thank you,
Naya

You need to show that you transferred the 50K to the business as unsecured director's loan and/or share capital. As long as you did not pay your own salary from this investment, it is ok.
For the loan repayment- are you paying yourself back according to your director's loan agreement?

[zimba]

There is NO such requirement for ILR application as you get points for investment automatically during 5 year ILR.
However you MIGHT be asked to prove your investments once again, for example in the ILR interview

[naya]

Thank you all your responses. Much appreciated.
Does everyone have to have an interview with ILR application or is it only if they have a certain doubt and therefore ask for an interview for clarificaiton?
Thanks,

[zimba]

You will be asked to attend an interview if it is deemed necessary by your case worker.
Also bear in mind that for your ILR, you will be subjected to a genuine entrepreneur test.

[naya]

Hi All,
Please advise if the proof of Invested fund spent on the Business needs to be sent to the HO with your ILR application? I saw other posts people sent all their 5 year Accounts with their ILR application. I also read the guidance and it said, if the proof of fund was invested provided either with your initial or extension application, there is no need to submit again. Then it said invested and spent will be used interchangably in the policy document. So, I am bit confused. Please advise if the investment related document is necessary. Thank you so much.

[CR001]

There is NO such requirement for ILR application as you get points for investment automatically during 5 year ILR.
However you MIGHT be asked to prove your investments once again, for example in the ILR interview

As already answered by zimba88 in March 2017!

Kindly keep your questions about the same application in ONE topic (this one now merged).