Director's Loan Terms & Self Assessments

[ssardar]

Dear Experts,

I am applying for Tier 1 Ext in few days. Can you help me with the following:

1. What should be the Per annum interest rate on loan the company should pay back to director? or should it be an interest free loan?

2. What should be the repayment term? or should there be a clause of early repayment?

3. Does a Director's Loan need to be on company's letterhead or solicitor's company letterhead? and what it I don't use a solicitor, will home office will be more critical towards my application?

3. Do I need to put three years self assessments to prove that the amount of salary and dividends I took out during each year always had still had a leftover profit.

Many Thanks

[zimba]

Your DL agreement simply needs to mention the interest rate. The rest is up to you

[jafersadeq]

Your DL agreement simply needs to mention the interest rate. The rest is up to you

Dear Zimba88,
Is it possible the interest rate to be 0% ?

[marcnath]

Your DL agreement simply needs to mention the interest rate. The rest is up to you

Dear Zimba88,
Is it possible the interest rate to be 0% ?

Yes, immigration rules don't dictate interest rates.