Tier 1 Visa under PSW 50 K route query

[nbhatt]

Hi All,

I'm on Tier -1 Entrepreneur VISA and next year I will complete my 10 years in July 2019 and 5 years under this route in September 2019 through £50K PSW Entrepreneur visa as a Single Director.

Next year I might go for Indefinite leave to remain or 5 years Tier 1 visa depending on the rules that might change overnight.

Whichever route I opt for I have a few queries , hence would appreciate an urgent response.

Can I close down my current company and open a new company?

Will it affect any of the route 10 or 5 years, if yes please explain how?

I have already invested 50 K in current company as Directors loan do I need to transfer it to this new company, how should the transaction appear in new company will it be Directors 50 K loan?

Can I still keep the same nature of business for my new company?

ILR do I need to show any employees?

After filing my accounts and once the company is closed will I be responsible for any future queries related to that company and should I be answering those queries as a Director?

Many Thanks

[marcnath]

Hi All,

I'm on Tier -1 Entrepreneur VISA and next year I will complete my 10 years in July 2019 and 5 years under this route in September 2019 through £50K PSW Entrepreneur visa as a Single Director.

Next year I might go for Indefinite leave to remain or 5 years Tier 1 visa depending on the rules that might change overnight.

Whichever route I opt for I have a few queries , hence would appreciate an urgent response.

Can I close down my current company and open a new company? ==> Yes

Will it affect any of the route 10 or 5 years, if yes please explain how? ==> No

I have already invested 50 K in current company as Directors loan do I need to transfer it to this new company, how should the transaction appear in new company will it be Directors 50 K loan? ==> No

Can I still keep the same nature of business for my new company? ==> Yes

ILR do I need to show any employees? ==> Yes, for 5 year route. No, for 10 yr

After filing my accounts and once the company is closed will I be responsible for any future queries related to that company and should I be answering those queries as a Director? ==> Nothing to do with immigration. Check with a lawyer/accountant - some obligations remain

Many Thanks

[nbhatt]

You are a star Thank you so much.

Kind regards,
N