ESC

Click the "allow" button if you want to receive important news and updates from immigrationboards.com


Immigrationboards.com: Immigration, work visa and work permit discussion board

Welcome to immigrationboards.com!

Login Register Do not show

URGENT - Tier 1 E Investment question

Only for UK Tier 1 (Entrepreneur) points system. This route is now closed to new applicants.

Moderators: Casa, John, ChetanOjha, archigabe, CR001, push, JAJ, ca.funke, Amber, zimba, vinny, Obie, EUsmileWEallsmile, batleykhan, meself2, geriatrix

Locked
immboardmem
Newly Registered
Posts: 3
Joined: Mon Sep 03, 2018 9:35 am
United Kingdom

URGENT - Tier 1 E Investment question

Post by immboardmem » Tue Sep 04, 2018 10:24 am

Am on a Tier 1 E 200K route. All the funds showed in bank account overseas during initial application. As my business provide services only, therefore, there are not many overheads and all of the money showed during initial application was not required for the business in UK. However, by the time I did investment in the company I earned (salary+dividends) and saved some money in the UK. I invested about 35% of the money from my UK savings in the business and remaining 65% was brought from overseas (showed during initial application).

Now the question is: That 35% money, earned and invested in the company will be considered as investment or not?

immboardmem
Newly Registered
Posts: 3
Joined: Mon Sep 03, 2018 9:35 am
United Kingdom

Re: URGENT - Tier 1 E Investment question

Post by immboardmem » Tue Sep 04, 2018 11:25 am

immboardmem wrote:
Tue Sep 04, 2018 10:24 am
Am on a Tier 1 E 200K route. All the funds showed in bank account overseas during initial application. As my business provide services only, therefore, there are not many overheads and all of the money showed during initial application was not required for the business in UK. However, by the time I did investment in the company I earned (salary+dividends) and saved some money in the UK. I invested about 35% of the money from my UK savings in the business and remaining 65% was brought from overseas (showed during initial application).

Now the question is: That 35% money, earned and invested in the company will be considered as investment or not?
@moderators - please note that this is not a duplicate account. My brother may also have an account on the forum.

User avatar
marcnath
Moderator
Posts: 6493
Joined: Tue Jul 03, 2012 3:27 pm
Location: Milton Keynes
United Kingdom

Re: URGENT - Tier 1 E Investment question

Post by marcnath » Tue Sep 04, 2018 12:48 pm

immboardmem wrote:
Tue Sep 04, 2018 10:24 am
Am on a Tier 1 E 200K route. All the funds showed in bank account overseas during initial application. As my business provide services only, therefore, there are not many overheads and all of the money showed during initial application was not required for the business in UK. However, by the time I did investment in the company I earned (salary+dividends) and saved some money in the UK. I invested about 35% of the money from my UK savings in the business and remaining 65% was brought from overseas (showed during initial application).

Now the question is: That 35% money, earned and invested in the company will be considered as investment or not?
It is not a straightforward thing and would depend on a number of factors.

It looks like you have taken money out of the business and then put it back into the business - that is not what investment is supposed to be.

There are few things you should be prepared to show:

1) The money overseas was maintained with you until the entire investment was made.
2) You were only paid from money generated by your business and not from the money you put in.
My comments are in no way meant to be advisory. I have no professional knowledge of immigration. These are based on my own experience, convictions and personal interpretation of publicly available information.

immboardmem
Newly Registered
Posts: 3
Joined: Mon Sep 03, 2018 9:35 am
United Kingdom

Re: URGENT - Tier 1 E Investment question

Post by immboardmem » Tue Sep 04, 2018 3:19 pm

marcnath wrote:
Tue Sep 04, 2018 12:48 pm
immboardmem wrote:
Tue Sep 04, 2018 10:24 am
Am on a Tier 1 E 200K route. All the funds showed in bank account overseas during initial application. As my business provide services only, therefore, there are not many overheads and all of the money showed during initial application was not required for the business in UK. However, by the time I did investment in the company I earned (salary+dividends) and saved some money in the UK. I invested about 35% of the money from my UK savings in the business and remaining 65% was brought from overseas (showed during initial application).

Now the question is: That 35% money, earned and invested in the company will be considered as investment or not?
It is not a straightforward thing and would depend on a number of factors.

It looks like you have taken money out of the business and then put it back into the business - that is not what investment is supposed to be.

There are few things you should be prepared to show:

1) The money overseas was maintained with you until the entire investment was made.
2) You were only paid from money generated by your business and not from the money you put in.
I agree that it is not straight forward thing and I did not had a clue that I could be in this situation, although done/ doing a genuine business in UK.

Honestly speaking, 35% money was not maintained as I bought an asset in my home country. Do you think if I sell that asset again and get the money back will make any difference.

Secondly, I can certainly show that I am only paid from the money generated by the business, as the investment was done after that.


Although I tick all the boxes, do you think on the basis of above situation my application can be rejected? if yes, what is the alternative I have.

User avatar
marcnath
Moderator
Posts: 6493
Joined: Tue Jul 03, 2012 3:27 pm
Location: Milton Keynes
United Kingdom

Re: URGENT - Tier 1 E Investment question

Post by marcnath » Tue Sep 04, 2018 3:32 pm

immboardmem wrote:
Tue Sep 04, 2018 3:19 pm
marcnath wrote:
Tue Sep 04, 2018 12:48 pm
immboardmem wrote:
Tue Sep 04, 2018 10:24 am
Am on a Tier 1 E 200K route. All the funds showed in bank account overseas during initial application. As my business provide services only, therefore, there are not many overheads and all of the money showed during initial application was not required for the business in UK. However, by the time I did investment in the company I earned (salary+dividends) and saved some money in the UK. I invested about 35% of the money from my UK savings in the business and remaining 65% was brought from overseas (showed during initial application).

Now the question is: That 35% money, earned and invested in the company will be considered as investment or not?
It is not a straightforward thing and would depend on a number of factors.

It looks like you have taken money out of the business and then put it back into the business - that is not what investment is supposed to be.

There are few things you should be prepared to show:

1) The money overseas was maintained with you until the entire investment was made.
2) You were only paid from money generated by your business and not from the money you put in.
I agree that it is not straight forward thing and I did not had a clue that I could be in this situation, although done/ doing a genuine business in UK.

Honestly speaking, 35% money was not maintained as I bought an asset in my home country. Do you think if I sell that asset again and get the money back will make any difference.


No, it will not make any difference. While the rules require you to maintain the amount, you are not required to submit any evidence of that unless you are asked to. I am yet to come across a case where HO has checked on that. So, you will just have to hope that it continues.
If they do ask for the proof and as you will not be able to provide it, they can curtail your visa. If that happens, not much you can do. But, as said, it is quite unlikely.

immboardmem wrote:
Tue Sep 04, 2018 3:19 pm

Secondly, I can certainly show that I am only paid from the money generated by the business, as the investment was done after that.

Although I tick all the boxes, do you think on the basis of above situation my application can be rejected? if yes, what is the alternative I have.
Remember that any money taken out as your salary/dividend cannot be counted towards your investment.

So, ideally, Total investment - salary >= 200K

At the minimum, Investment + revenue - salaries >= 200K, provided investment >= 200K. If you meet this condition, it is difficult for HO to refuse your application.
My comments are in no way meant to be advisory. I have no professional knowledge of immigration. These are based on my own experience, convictions and personal interpretation of publicly available information.

Locked