Can I open a New company after getting Tier 1

[acme]

Hi All,

I would like to ask as per new guidence,

Is it possible to open up a new company after sending the extension application or Is it possible to open up a new company after getting the extension approved.

The reason to open up a new company is that, my team member got the ILR after 6 month of entrepreneur visa and after getting British passport left the country. No share transfer made and still director, which is causing problem from me. I cant open client account and i cant even switch the bank.

Please advise,

Thank

[mshakeel2002]

did u get visa on 50k or 200k...

[acme]

Hi,

I got visa on 50K.

Thanks

[natsha]

Best WAY Don't close other just keep updated 6 MONTH OR 1 YEAR once your other business running up fine they closed it.

50k still working in Pak?

[acme]

My business is running fine and will be fine with the new incorporation. The question is how Home Office will justify the new company.

Is it possible to open up a new company after sending the extension application or Is it possible to open up a new company after getting the extension approved.

Please Advise

Thanks

[marcnath]

My business is running fine and will be fine with the new incorporation. The question is how Home Office will justify the new company.

Is it possible to open up a new company after sending the extension application or Is it possible to open up a new company after getting the extension approved.

Please Advise

Thanks

You can open a new company or 10 new companies at any time - nothing to do with extension or any other timing.

[bizman]

Keep adequate record of all the transactions in the initial company to forestall problems during renewals

[acme]

Hi marcnath, Zimba and all ,

Thank you for your reply,

I agree that i can open a new company and start running the business.

Extension is due in next week.I will send the extension based on the initial 3 year.

After sending the extension application, is it make sense to open a new company and start trading.
When home Office will come for the interview, will they agree with the new company business. Let say they want to see the old company office etc.

Please note i am not changing the business portfolio. Is it only the launch of new company to get 100 % control and follow the guidelines to open a client account.

When i will apply for second extension, how will i justify the point of becoming a director within 6 month.

Please advise.

[marcnath]

Hi marcnath, Zimba and all ,

Thank you for your reply,

I agree that i can open a new company and start running the business.

Extension is due in next week.I will send the extension based on the initial 3 year.

After sending the extension application, is it make sense to open a new company and start trading.
When home Office will come for the interview, will they agree with the new company business. Let say they want to see the old company office etc.

Please note i am not changing the business portfolio. Is it only the launch of new company to get 100 % control and follow the guidelines to open a client account.

When i will apply for second extension, how will i justify the point of becoming a director within 6 month.

Please advise.

Don't ever try to second guess what HO might think, etc. Even more, don't make your business decisions on what you think HO needs.
The requirements for your extension and ILR are clear as far as points for attributes are concerned.
For the genuineness test, if you are genuine, it should be easy to pass.
Go through this forum - almost always the rejection on genuineness grounds are discrepancies in the interviews or lack of documentation. I haven't seen a single rejection on the basis of how someone is conducting their business.