Urjent Help Required for extension tier 1

[shaz007]

HI All

I have a question

I have got my Tier 1 50k route visa in last year year Nov and the question i want to ask is that i have 50k in my personal bank which i have didn't transferred to my Business bank . Its been an year now , can i transfer the money now and i dont want to transfer all the money? can i transfer in segments like 10 or 15k?

will this going to impact my extension?

second question
when do i have to create 2 full time employment and how much salary do i have to pay them

Please guide me i will be thankful to you all brothers

[aby00156]

1. You can transfer the money in installments but it should be 50K by the end of your 3 year initial visa
2. You have 3 years to complete the employment requirement. As you said you got your visa last year November then you should employ 2 people for 12 months each at least,

[shaz007]

Thanks brother , So on second year which is starting now as i have passed one year, i should employ 2 full time or 2 part time? is there any salary level cap or it should be min wage?

also that's ok as you mention that i can transfer money now so HO will not ask anything why i have not transferred in my first year?

[aby00156]

1. There is no condition that you should transfer the money in one go. Its your business and your decision to transfer the money as per your business requirement. The only requirement from Home office is that you should invest 50K into your business. Its up to you how you want to invest.

2. You need to employ 2 people full time for 12 continuous months. Full time is considered 30 hours per week and the wages should be atleast minimum wage.

[shaz007]

Thanks Brother,

I appreciate your reply and feel this forum is really one source to turn up for great advice.