Tier1 enterprenuer extension

[bizman]

Hi macnarth ,

Today i received ihs partial refund . I know that its not mean that its positive sign but still hoping for best .

It is positive sign

[Khan51214]

hi zimba88 and macnarth ,

Today i received complex letter after caseworker requested letter from Venture capital under evidenial flexibility policy which i sent them last week but Venture capital letter was which i used in initial application dated july 2014 .

My question is

Do i need to provide caseworker new letter from venture capital which confirms transactions to me with my name?

Or

Letter which i used in my initial application is enough stated of funds available to me dated july 2014 which i sent to caseworker before receiving complex letter ?

Kindly guide me on this issue.

[zimba]

You need to send the letter again for extension

[Khan51214]

Zimba88

Do i need send new letter from venture capital or old letter is fine which i used in my intial application stated funds are available to me letter dated july 2014?

Kindly advise on this

[marcnath]

Zimba88

Do i need send new letter from venture capital or old letter is fine which i used in my intial application stated funds are available to me letter dated july 2014?

Kindly advise on this

Since you already sent the documents requested, now wait to hear from HO

[Khan51214]

Marcnath,

Thank you for your guidance

I got new letters from venture capital stated that when i received funds transactions dates.

Also

Letter from venture capital accountant confirming that firm is registered with FCA before transactions time till to date

Also

Letter confirming company back grounds

Which i sent to case worker today is these new letters will be considered?

[marcnath]

Marcnath,

Thank you for your guidance

I got new letters from venture capital stated that when i received funds transactions dates.

Also

Letter from venture capital accountant confirming that firm is registered with FCA before transactions time till to date

Also

Letter confirming company back grounds

Which i sent to case worker today is these new letters will be considered?

If your application is still in process, it will most likely be considered. Though there is no guarantee.

[Khan51214]

Hi ,

My question is to all senior members regarding my situation which is going to explain advise will be much appreciated.

I bought fast food business from previous owner and paid him £40,000 and bought some extra equipment for £13500.

So total invested 53,500 into business and today i relised that i cannot do that the money which goes to previous owner will not count towards investment it was totally my mistake i didnt get that point properly .

I made applicaton for extension on 6th dec 2017 and have not received any decision yet

Meanwhile i sold my business for 42,000 and thinking to do some online business on amazon or ebay does that money will count towards investment or

Help me what is the better option for me to invest those money does it count if my extension get rejected and after that make fresh application and show 50,000 investment again .

[CR001]

Topics Merged (click)

[marcnath]

Hi ,

My question is to all senior members regarding my situation which is going to explain advise will be much appreciated.

I bought fast food business from previous owner and paid him £40,000 and bought some extra equipment for £13500.

So total invested 53,500 into business and today i relised that i cannot do that the money which goes to previous owner will not count towards investment it was totally my mistake i didnt get that point properly .

I made applicaton for extension on 6th dec 2017 and have not received any decision yet

Meanwhile i sold my business for 42,000 and thinking to do some online business on amazon or ebay does that money will count towards investment or

Help me what is the better option for me to invest those money does it count if my extension get rejected and after that make fresh application and show 50,000 investment again .

If your application is considered today, it will most probably be refused.

Now that you have sold the business, the best would be to invest it into the new company, create the accounts and send it in as soon as practically possible.

[Khan51214]

So you are saying if i open new company and invest all this money into new company and buy stock for that money will be counted towards investment and make admin accounts and send to case worker he will consider my new investment

[marcnath]

So you are saying if i open new company and invest all this money into new company and buy stock for that money will be counted towards investment and make admin accounts and send to case worker he will consider my new investment

There is no guarantee that it will be accepted, but it is worth trying. If it is still refused, the same can anyway be used in a fresh application.

[Khan51214]

So for investement can i transfer money from currently business account to new business account and then buy goods for that money and get invoices and make admin accounts and send to case worker with current appointment report.

1. Transaction for investment
2. Invoices
3. Current appointment report
4. Admins account


What else do i need to send them to show that i just invested the money ?

[marcnath]

So for investement can i transfer money from currently business account to new business account

No, you can't. The transfer has to be from your personal account to the new business account.

and then buy goods for that money and get invoices and make admin accounts and send to case worker with current appointment report.

There is no necessity to buy goods, etc. just for the purposes of your visa. You do what your business needs.

1. Transaction for investment
2. Invoices
3. Current appointment report
4. Admins account


What else do i need to send them to show that i just invested the money ?

2. is Not needed

[Khan51214]

Thank you very much marcnath for you kind help

Just clarify

1. I Need to make transfer from personal account to business account .
2. Make director loan agreement.
3. Use funds as need by business .
4. Get invoices where fund used .
Or
Not invoices

[marcnath]

Thank you very much marcnath for you kind help

Just clarify

1. I Need to make transfer from personal account to business account .
2. Make director loan agreement.
3. Use funds as need by business .
4. Get invoices where fund used .
Or
Not invoices

Invoices are not a specified document - so up to you whether you send it or not.

And, of course, get a set of management accounts from a qualified accountant

[Khan51214]

Thank u

How to get director loan agreement?

[Khan51214]

ONE more point to clear

If i transfer money from my personal account to new company busniess account does this will count towards investment?

DL to company will count towards investment ?

And if i need to use those funds accordingly i can but first this is the only thing home office need

That

Money invested to limited company is a investment?

[marcnath]

ONE more point to clear

If i transfer money from my personal account to new company busniess account does this will count towards investment?

DL to company will count towards investment ?

And if i need to use those funds accordingly i can but first this is the only thing home office need

That

Money invested to limited company is a investment?

I just went back through the thread and realised yours is a VC case.

Now that you sold the business, have you paid the VC back ?

[Khan51214]

NOT yet beacause the funds is for 5 years and repayment will start after this time

[marcnath]

NOT yet beacause the funds is for 5 years and repayment will start after this time

ok. Makes it a bit more complicated. From an accounts perspective, I think it may be better to show this as a VC investment into your new company. And if you can get a letter from the VC for that, that would be ideal.

[Khan51214]

I already made transfer of funds of 30,000 to new company business account from my personal account .

So you are saying in accounts i show these funds as third party investments again.

But my question is they already made investment to me ?
This will raisae questions that how they can made twice investments?

[marcnath]

I already made transfer of funds of 30,000 to new company business account from my personal account .

So you are saying in accounts i show these funds as third party investments again.

But my question is they already made investment to me ?
This will raisae questions that how they can made twice investments?

Isn’t it still the VC’s money anyway? Explain in the cover letter that the business originally invested was sold and the money reinvested

[Khan51214]

hi marcnath and zimba,

today i sent new documents to home office but i cant find in policy guidelines that investment money will not be counted if its go to previous owner or goodwill .kindly please let me know where i can find this?

[marcnath]

hi marcnath and zimba,

today i sent new documents to home office but i cant find in policy guidelines that investment money will not be counted if its go to previous owner or goodwill .kindly please let me know where i can find this?

It is missing from the guidance, but is still in the immigration rules.

Section 245D(c)(ii) specifies the same.