Tier 1 Entrepreneur Processing Time (Extension Applications ONLY)

[smile_alwayz]

is there any time frame in which the 50 k needs to be invested or i can invest this amount in 3 years time...?...

[invador108]

is there any time frame in which the 50 k needs to be invested or i can invest this amount in 3 years time...?...

200K or 50K which ever applies to your application, needs to be invested within 3 years time frame. You need to have at least 2 full time job creations for at least 12 months in the last year. 30Hrs/Week is considered Full time, if you have Part time employees they should all sum up to 30Hrs/Week x 2 for 12 months. If there is a gap between the employee leaving and rehiring you will need to hire more employees to full fill the requirements. to sum it up you should have documented evidence of 1,440Hrs per employee or 2,880 hours in total to get extension in your leave to remain.

[rizwan567]

is there any time frame in which the 50 k needs to be invested or i can invest this amount in 3 years time...?...

200K or 50K which ever applies to your application, needs to be invested within 3 years time frame..

I will be thankful if someone can quote the relevent paragraph of guidance where it is stated that 50k/200k needs to invested over the period of 3 years. I tried but can not find the relevent rules.

[invador108]

is there any time frame in which the 50 k needs to be invested or i can invest this amount in 3 years time...?...

200K or 50K which ever applies to your application, needs to be invested within 3 years time frame..

I will be thankful if someone can quote the relevent paragraph of guidance where it is stated that 50k/200k needs to invested over the period of 3 years. I tried but can not find the relevent rules.

Capital Investment of 50K/200K is required when you start your business. You can put your capital investment funds in your business bank account and spend that money on need basis on your business related transactions only with documented evidence from your accountant. You simply cannot just spend all 50k/200k on the first day of your business commencement. There is a difference between making capital investment and spending the money invested. I hope this helps. Its a general rule for any business anywhere around the world.

[smile_alwayz]

is there any time frame in which the 50 k needs to be invested or i can invest this amount in 3 years time...?...

200K or 50K which ever applies to your application, needs to be invested within 3 years time frame..

I will be thankful if someone can quote the relevent paragraph of guidance where it is stated that 50k/200k needs to invested over the period of 3 years. I tried but can not find the relevent rules.

Capital Investment of 50K/200K is required when you start your business. You can put your capital investment funds in your business bank account and spend that money on need basis on your business related transactions only with documented evidence from your accountant. You simply cannot just spend all 50k/200k on the first day of your business commencement. There is a difference between making capital investment and spending the money invested. I hope this helps. Its a general rule for any business anywhere around the world.

thanks for a detail reply....i had the same in mind...
but there is something i want to be sure of...if i put 50K in my business account that would count towards the investment rite...?...but do i need to show the spending equivalent to 50k...or just putting the money in my business account is sufficient...
I know within three years time frame i would be spending on and off for my business but does the spending needs to be full 50K...

[Jabs]

Transferring £50K into you business account is not considered an investment.

Investment will be in the form of operating costs i.e. office rent, employee wages, hiring or purchasing computer equipment and so on, in simple terms the expenses incurred for purely to run your business.

If you have a limited company, don't transfer all the funds into your business account, a limited company is a legal entity and the funds transfered will not belong to you anymore.

Lets say you transferred £10K and start to do well, then you can reinvest the profits back into your business. At the end of your 3rd year if you can show you have invested (spent) £50K whether this has come from your profits or your initial funds (capital).

Consider this risk, a third party can get your company wound up if you are in breach of a contract or in dispute regarding payments, so it will be very difficult to take the money out again.

There is no requirement for you transfer the complete £50K, transfer what you need to get the business started.

In 3 years time when you head for an extension I anticipate UKBA will be looking for business activity in the form of P&L for each year.

[smile_alwayz]

Transferring £50K into you business account is not considered an investment.

Investment will be in the form of operating costs i.e. office rent, employee wages, hiring or purchasing computer equipment and so on, in simple terms the expenses incurred for purely to run your business.

If you have a limited company, don't transfer all the funds into your business account, a limited company is a legal entity and the funds transfered will not belong to you anymore.

Lets say you transferred £10K and start to do well, then you can reinvest the profits back into your business. At the end of your 3rd year if you can show you have invested (spent) £50K whether this has come from your profits or your initial funds (capital).

Consider this risk, a third party can get your company wound up if you are in breach of a contract or in dispute regarding payments, so it will be very difficult to take the money out again.

There is no requirement for you transfer the complete £50K, transfer what you need to get the business started.

In 3 years time when you head for an extension I anticipate UKBA will be looking for business activity in the form of P&L for each year.

thank u soo much...im clear now

[la]

Please go through this link to know more details on tier 1 entrepreneur back log applications.


http://www.whatdotheyknow.com/request/1 ... 2%2018.pdf

[rizwan567]

Follow up to my earlier above post.


I will be thankful if someone can quote the relevant paragraph of guidance where it is stated that 50k/200k needs to invested over the period of 3 years. I tried but can not find the relevant rules.

[alex87]

Transferring £50K into you business account is not considered an investment.

Investment will be in the form of operating costs i.e. office rent, employee wages, hiring or purchasing computer equipment and so on, in simple terms the expenses incurred for purely to run your business.

If you have a limited company, don't transfer all the funds into your business account, a limited company is a legal entity and the funds transfered will not belong to you anymore.

Lets say you transferred £10K and start to do well, then you can reinvest the profits back into your business. At the end of your 3rd year if you can show you have invested (spent) £50K whether this has come from your profits or your initial funds (capital).

Consider this risk, a third party can get your company wound up if you are in breach of a contract or in dispute regarding payments, so it will be very difficult to take the money out again.

There is no requirement for you transfer the complete £50K, transfer what you need to get the business started.

In 3 years time when you head for an extension I anticipate UKBA will be looking for business activity in the form of P&L for each year.

The policy guidance says that your salary will not count towards investment. But what about expenses incurred by you? Say travel expenses in roles that require a large amount of travelling?

[gardazi76]

hello

guys first of all no matter what its 50k or 200K its better to get register with an accountant and expenses are the one u use on the business

this good thing ukba is asking us to do job creation for local people they are not bother about ow much one is earning only jobs

ill be opening 2 business in which i can easily will be creating more then 40 jobs which is better for me to get get extension after 3 years

ok coming to point as soon u get register with hrmc every thing u do i mean traveling food bills stuff premises u have to keep all the record for tax n vat and u get money back from them if u earning more or less

tell u the truth 50 k are very lucky not much investment to do i applied for 200k and they dont mention in ukba how much needed to be used

[Jabs]

Transferring £50K into you business account is not considered an investment.

Investment will be in the form of operating costs i.e. office rent, employee wages, hiring or purchasing computer equipment and so on, in simple terms the expenses incurred for purely to run your business.

If you have a limited company, don't transfer all the funds into your business account, a limited company is a legal entity and the funds transfered will not belong to you anymore.

Lets say you transferred £10K and start to do well, then you can reinvest the profits back into your business. At the end of your 3rd year if you can show you have invested (spent) £50K whether this has come from your profits or your initial funds (capital).

Consider this risk, a third party can get your company wound up if you are in breach of a contract or in dispute regarding payments, so it will be very difficult to take the money out again.

There is no requirement for you transfer the complete £50K, transfer what you need to get the business started.

In 3 years time when you head for an extension I anticipate UKBA will be looking for business activity in the form of P&L for each year.

The policy guidance says that your salary will not count towards investment. But what about expenses incurred by you? Say travel expenses in roles that require a large amount of travelling?

Salary of director(s) cannot be considered an investment.

However, any expenses incurred by the director(s) in relative to the business can be considered an investment. Examples like claiming full expenses, vehicles on business lease, business mobiles, business meals and so on but be informed these benefits do have constraints.

[dancingguy05]

One of my friends told that he came to know ones of his colleagues who applied in 1st week of Oct 2012, biometrics done on around 2nd week of same month received his visa on 8th Feb 2013.

Psw to tier1 ent
All funds in the uk personal
No queries till he got visa.
He had software firm

I have no info apart from this as the guy who got went back home on a vacation

Cheers

[sammi786]

i have received another query from UKBA today, i applied on 18th of july and received 1st query from UKBA to submit third party bank letter and legal advisor letter along with my new ban letter, i submitted required documents on 18th of january and today again they asked me to submit a contract as evidence of trading,
one more thing my case worker has been changed as well.

[stevoxf]

Brother can you please confirm the exact date of his application and bio?

One of my friends told that he came to know ones of his colleagues who applied in 1st week of Oct 2012, biometrics done on around 2nd week of same month received his visa on 8th Feb 2013.

Psw to tier1 ent
All funds in the uk personal
No queries till he got visa.
He had software firm

I have no info apart from this as the guy who got went back home on a vacation

Cheers

[roshanvsn]

Has anybody received any communication for applicants applied in August, I applied on 8th august having done my bio-metric on 25th August but hasn't heard anything from them yet.

[sesuo101]

Has anybody received any communication for applicants applied in August, I applied on 8th august having done my bio-metric on 25th August but hasn't heard anything from them yet.

First time been here. Applied on 13th Aug then did bio reg on 23rd Aug 2012. Did not get any news from UKBA at all until 11th Mar 2013.

T1E 200K all funds at UK but already invested to the business

[madina100]

Applied on 25th July
Bio : 13th August
PSW route
Funds Abroad Third Party
Applied as Team
No response from UKBA
Sill waiting........

[dancingguy05]

Applied nov 19 2012
Bio dec 2 2012
Psw
All funds in the uk

No response or queries

[smarty191]

aaa

[gardazi76]

I have received a query from UKBA, in which they are asking new bank letter and third party declaration letter.

Declaration is OK, but in Bank statement they are asking so many applicant's detail which bank is not ready to mention on bank letter.

I need to ask if now I can change the third party which has account in different bank, who can give letter as UKBA required.

Plz give some guidance.

Many Thanks

hello
can u please tell us what UKBA asked in the letter if possible

plus i made the letters from bank also i dont know which bank u dealing with as most of new private banks are better to deal with as they need to show money in the bank every month so they do so much for customer with me i wrote the letters my selfand send to the assistant manager of the bank and he printed on the letter head n signed by manager and send me

[gardazi76]

I have received a query from UKBA, in which they are asking new bank letter and third party declaration letter.

Declaration is OK, but in Bank statement they are asking so many applicant's detail which bank is not ready to mention on bank letter.

I need to ask if now I can change the third party which has account in different bank, who can give letter as UKBA required.

Plz give some guidance.

Many Thanks

sorry one more question when did u applied for the visa if full details u can give please

[smarty191]

applied in november

[gardazi76]

applied in november

which cat and bio date

[dancingguy05]

applied in november

Hi smarty
Please let us know
When u applied
Wat category
Where r the funds


That's will be of great help to all of us

Tx