ILR TIER 1 ENTREPRENEUR BUSINESS REQUIREMENT

[Muhammad12244]

Dear Experts,

I am applying for ILR early next year 2019 under Tier 1 Entrepreneur 200000 pounds 5 years route. I have got my extension last year 2017. Actually I have got a good offer to sale my current business (Food Business - Restaurant), which is really attractive.

I am really curious if the rules allows me then I want to book the profits (capital gain) from the current business.

And I will start searching for a new business. Though I am willing to retain my Employees (My Manager and Relation Ship Officer). I will fulfil the Employment requirement of two full time jobs for 12 months by July 2018. I will retain my company and Directorship under which I am running my current business. I am only planning to sell the business premises.

Kindly let me know if am I allowed to execute the above as per the rules without disturbing my ILR application early next year.

Looking forward to your expert opinions.

Regards to all in the forum.

[marcnath]

Dear Experts,

I am applying for ILR early next year 2019 under Tier 1 Entrepreneur 200000 pounds 5 years route. I have got my extension last year 2017. Actually I have got a good offer to sale my current business (Food Business - Restaurant), which is really attractive.

I am really curious if the rules allows me then I want to book the profits (capital gain) from the current business.

And I will start searching for a new business. Though I am willing to retain my Employees (My Manager and Relation Ship Officer). I will fulfil the Employment requirement of two full time jobs for 12 months by July 2018. I will retain my company and Directorship under which I am running my current business. I am only planning to sell the business premises.

Kindly let me know if am I allowed to execute the above as per the rules without disturbing my ILR application early next year.

Looking forward to your expert opinions.

Regards to all in the forum.

Sure, nothing stops you from selling part, any or whole of your business.
You need to be in business (self employed or Director) at the time of ILR application and need to show that you intend to continue to be an entrepreneur.